Friday Free-for-all Fall Edition!

Hey! You made it to the end of another work week and into the autumn. It’s another sunny day in paradise as the air turns crisper.

Lets do our regular end of the week news round up and open topic discussion thread for the weekend – Friday Free-for-all time!

Here are a few recent links to kick off the chat:

Another housing bubble alarm
2 million east of Fraser
Petronas threatens LNG cancelation
Conference board knocks high prices
Absent homeowners fee
Free money to jumpstart economy

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Sort by:   newest | oldest | most voted
southseacompany
Member
southseacompany
“Crash or cool down? How will the housing boom end?”, BNN http://www.bnn.ca/Blogs/2014/09/25/Crash-or-cooldown-How-will-the-housing-boom-will-end.aspx “TD Economics is raising its growth projections for the Canadian economy, but still sees the country’s hot housing market entering a cooling period despite a stronger job market.” “In its latest economic outlook , published Thursday, TD says exports to our biggest trading partner will be the primary growth driver as Canada rides the “coattails” of a resurgent U.S. economy.” “While ultra-low mortgage rates have been fuelling our hot housing market, the bank says rates will gradually increase with inflation. That, TD says, will lead to less demand for housing and credit over the medium term.” “Still, not everyone agrees. I’ve been speaking with Edmonton-based portfolio manager Hilliard MacBeth who’s working on a book titled: When the Bubble Bursts: Surviving the Canadian Real Estate Crash. He sees a… Read more »
KV
Guest
KV
trackback

Consolidated Credit

Friday Free-for-all Fall Edition!

Softy
Guest
Softy

I’m not a bear but this $2.15M sale for a house on a 33×120 house east of Fraser street sounds a little fishy.

http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-breaks-2m-mark-east-of-fraser-street-1.2776611

Here is a houses that are around the same age and on bigger lots for a few hundred thousand less in around the same area.

https://www.ecorealtyinc.ca/bc-real-estate-listings/vancouver/mls-V1077130/5445-Fleming-Street-Vancouver-V5P3E8?id=261145173

Anyone with access to data care to dig into this sale to see if it passes the smell test?

space889
Member
space889

I have seen front half of a duplex selling for more than $150K over the back half when the size is exactly the same. It could be mortgage fraud or money laundering. Regardless it makes for a good story.

Actually I think in the story, the realtor said the buyers were trading up from Van West!

vangrl
Member
vangrl

#4

Plus I’m reading (although can’t confirm) that this house sold in May. Why is it all of a sudden plastered over every news site

UBC in crisis mode
Guest
UBC in crisis mode

Finally, someone paid more than $4 million for this lot?

$5,050,000 MLS # V1083841
1872 WESTERN PW, Vancouver, BC, V6T 1V4

Brian Ripley
Guest
Brian Ripley
“While ultra-low mortgage rates have been fuelling our hot housing market, the bank (TD) says rates will gradually increase with inflation.” From the #1 southseacompany link to the BNN “Crash or cool down?” piece. I question the idea of inflation occurring soon. Commodities peaked in 2011 (except for some Ags that zoomed higher on weather) Deflation seems to be a much bigger threat and now that the over leveraged financial markets have exhausted themselves and turned, a repeat of the plunge into the March 2009 pit of gloom seems like a very possible scenario. As the financial markets unwound then, real estate sentiment and prices plummeted: From http://www.chpc.biz/plunge-o-meter.html ’07-’08 Average Vancouver SFD lost $122,900, or 15.9% in 8 months (2%/mo drop) ’07-’08 Average Calgary SFD lost $92,499, or 18.3% in 18 months (1%/mo drop) ’07-’08 Average Edmonton SFD lost $78,719,… Read more »
bobwestsiderealtor
Guest
bobwestsiderealtor

@8 Brian Ripley:

A “gradual increase” of inflation? Globally, it does not look like there is bid to move prices any higher. I think it would take wage inflation to produce commodity and financial market inflation at this point.

First good post I have seen on this board in awhile. Inflation is a bogeyman. My oil and uranium stocks know this very well.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

@5

space, your posts are improving. kudos!

Kim
Guest
Kim

The latest wage growth is 3.3% y-o-y in Canada (slightly higher in BC). That’s a fair bit more than 2% CPI inflation.

http://www.statcan.gc.ca/daily-quotidien/140828/dq140828a-eng.htm

van guy
Guest
van guy

QE end is nearing. Bond prices continue to climb. In 2011 Garth said rates would be double in 2014.2012 he said westside will be -30% in a year. As a bear, I think we missed the boat

nerdlinger
Guest
nerdlinger

While asian ppl are standing in line to flip iPhones for $800 profit per unit, white ppl are involved in productive activities like this:

http://youtu.be/3sU4ro2TNLQ

Yunak
Guest
Yunak

On the other hand a Chinese woman today couldn’t find parking spot on the open roof-top floor (Hornby St.) for her Bentley convertible worth $200K and save $3 on regular $15 parking price.

space889
Member
space889
paulb
Member
Trusted Member

New Listings 190
Price Changes 74
Sold Listings 136
TI:16000

http://www.paulboenisch.com

Manfred
Guest
Manfred

It’s a simple fact that Caucasians can’t compete with Asians. That why Caucasians get butt hurt.

Got to a gas station in the morning and you see it all Caucasians. That when the price of gas is high. Asian people buy gas in evening when price less. Just simple example but show the point.

The point is that Caucasians don’t understand money. When Asians come to town Asians buy all nice properties Caucasians have only crap left. This is natural and the way it should be.

space889
Member
space889
666 RE bitchez
Guest
666 RE bitchez

http://slopeofhope.com/socialtrade/recent?show=17021
Attonementi.jpg
A remarkable cabalist, mystic, SP500 chart, prognosticating an early October top.

Heard Herd selling
Guest
Heard Herd selling

Happy sweet 16, I notice the over asking sales are slowing and more come in unnder, lotsa higher paying jobs being cut here, gonna be a wet winter, watch prices fall further

claude
Guest
claude

“• In Vancouver, 20 per cent live in poverty, compared with 19 per cent in Toronto and 26 per cent in Montreal.”

from Yaffe’s piece

People generally dont realise this but Montreal, being an older city by demographics, is telegraphing future poverty rates in Van and TO

Insanity
Guest
Insanity

“Concern that empty homes held by offshore speculators will turn neighbourhoods into ghost towns is overblown, according to think-tank Urban Futures”

Metro Vancouver had 5.4 per cent of its units unoccupied on census day. While this is slightly above the average of 4.8 per cent for Canadian cities, it is well below Victoria (7.5 per cent), London, Ont. and Windsor (both 6.9 per cent).

http://www.vancouversun.com/Fears+over+impact+vacant+residences+Vancouver+misplaced+census/10240213/story.html

Son of Ponzi
Guest
Son of Ponzi

#22
someone is still quoting census numbers.
How quaint.

tedeastside
Member
tedeastside

vancouver….did somebody say snowshoeing and kayaking in the same day!!!

did somebody say the head office of 1-800 got junk!!!

feeling really bullish on vancouver real estate

gah
Guest
gah

teadeastside, I am the president of 1-800-GOT-JUNK, and we are looking for a lead snowyakker. You have posted extensively on my company and snowyakking, and so I think you would be a prime candidate to join the team. Our generous pay package includes a share in a 500 sq ft bachelor pad, which should be worth a few million dollars in a few years if my extrapolation is correct.

wpDiscuz