FFFA! Red Flags, BS, Inventory, Learning

You survived the rain!

And here we are at the end of another work week, could life get any better?

And since it’s the end of another week, what say we do our regular Friday Free-for-all post?

This is our end of the week news round up and open topic discussion thread for the weekend. ok? Lets do it!

Here are a few recent links to kick of the chat:
BOC raises red flags over housing
A new generation of renters
Bloated debt risk to economy
BS Talk?
Spending Vigour?
What I learned on VCI
Inventory Graph

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent (though perhaps slightly soggy) weekend!

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[…] tax dollars to boost economy -The little mountain that couldn’t -Holidays are for losers -TFW program not so curtailed -Swedish bubble test case? […]

gah
Guest
gah

#90 Westside Realtor – “Prices could drop up to 90% IMHO. It is already happening, prices in the upper range are down by 30% already.”

In your opinion, after the crash, would I be better off buying something currently priced at 5 million for 500k, or 5 one million dollar properties for 100k each? Can I use you as my realtor? You seem to have your finger on the pulse.

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[…] plan B to diversify the BC economy?  Gary Mason says there is no plan B and Patriotz says ‘what about real estate‘? But isn’t the RE market a bit played out at this […]

Son of Ponzi
Guest
Son of Ponzi

#103
Yous should know that, as a realtor, Westside Realtor is not allowed to release this information to the public.

Van Coffee
Guest
Van Coffee

Westside Realtor –

Did it sell?

Westside Realtor
Guest
Westside Realtor

Westside Realtor –

what happened with this property?

1196 59TH Ave W, Vancouver West, British Columbia

It was very slow out there for this property. We are in the house of pain JMHO.

FYI
Guest
FYI

Don’t believe everything on the internet..

Example in point..it is well known that point of sale terminals for credit cards and debit cards transfer germs and cause the vast majority of cold and flu these days.

Good luck finding this info on the internet…the powers that be, MC and VISA, have erased that. Try searching…

Van Coffee
Guest
Van Coffee

Westside Realtor –

what happened with this property?

1196 59TH Ave W, Vancouver West, British Columbia

Slagathor
Guest
Slagathor

….Required reading for anyone who thinks Vancouver is unique:….

Shouldn’t that read:

‘Required reading for anyone who thinks Vancouver Realturd bullshitting is unique:’

http://www.bostonmagazine.com/news/article/2014/09/30/chinese-real-estate-boston/

space889
Guest
space889

Post from resurrected VREAA –
http://vreaa.wordpress.com/2014/10/11/vancouver-re-heaven-at-a-perfect-price

Notice the part about baby boomers cashing out….that’s and developer profits are what this is all about in lower mainland.

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

is anyone expecting a crash? patriotz realized that a crash wasn’t coming, so he bought a place. talk is cheap, look where he put his money.

so the question is, who’s still waiting for a crash? if a crash doesn’t come, it means there was never a bubble.

UBC in crisis mode
Guest
UBC in crisis mode

Yuan / CAD exchange coming soon, after this:
BEIJING, Oct. 27 (Xinhua) — China on Monday announced direct trading between the renminbi and Singapore dollar beginning Tuesday, marking another step toward internationalizing the Chinese currency.

http://english.cntv.cn/2014/10/27/ARTI1414401659567921.shtml

Thanks to Mr. Harper, we need no US dollars -:)

Westside Realtor
Guest
Westside Realtor

Coffee Talk Update:

The remainder of 2014 is starting to be referred to as a bit of a write off, in terms of any expectations for HAM multiple bids/bidding wars (interesting how “bidding war” is so much more rarely used these days eh!) and ANY prospect for price appreciation.

So, now agents are starting to position sellers with talk of a rebounding spring market/Chinese NY buying, etc…well, there is always hope, who knows what the new year will bring…

On the buyer side, agents are trying to get buyers to bite with warnings that the spring market will bring buying competition, etc…this generally works but this year…there just seems to be LESS MONEY floating about..jmho…hey, who knows, perhaps prices will skyrocket in the spring.

But I, for one, am not betting on it.

Caveat Emptor.

patriotz
Member

Number of temporary foreign workers rose despite push to curtail program

The number of low-skill temporary foreign workers entering Canada continued togrow in the first quarter of 2014 despite government efforts to reduce the impact of the controversial program.

I think that should be “despite government efforts to make people think they were reducing the impact of the controversial program.”

patriotz
Member

@84: “Shelley Fralic asks; “Housing affordability in Metro Vancouver – – Is the real issue our expectations?””

This the same line you hear from shills like Cam Good – if you can’t afford an overpriced house, buy an overpriced condo.

The real issue is why buy at all if renting is much cheaper.

Heard Herd selling
Guest
Heard Herd selling

Don’t tell my wife, she’s Chinese and from what I see , her siblings and cousins etc are as dumb as fuk with money when it comes to real estate, they will spend more time and effort buying papertowels on sale than buying a half million presale. Dumdumdumdumdumfuks,

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

Gene Simmons maybe a rock star, but above all else he’s a jew. and jews know money.

Westside Realtor
Guest
Westside Realtor

It was definitely very slow out there this weekend. All signs point down.

There is an approaching storm that will knock out sales for this coming week. It will be a disaster. Get out now if you can. This is going to get ugly.

Prices could drop up to 90% IMHO. It is already happening, prices in the upper range are down by 30% already. But not Surrey Building Lots!

Welcome to the house of pain.

Son of Ponzi
Guest
Son of Ponzi

My people are here to stay. And they will continue to flock to Vancouver. Every rich kid in China wants to smoke lots of weed. Vancouver is the place for the kids. Dispensaries everywhere now and u could walk in to these places and buy weed like buying candy at 711. My China friends love it here. They all drive Maseratis and Ferraris which helps our economy. I welcome all immigrants. But please bring money for our economy.
———–
He’s right dispensaries everywhere.
West of Kingway and Knight there are 2.
Right in the heart of Little Vietnam.

Observer
Guest
Observer

And the Bulls should not forget the south Asian developers in Surrey.

Surrey building lots are going up by the thousands each and every week. It’s basically like printing money, only easier and lower risk.

Observer
Guest
Observer

The Bears have Westside on their side providing a detailed analysis. Comedian? Clown?

While the Bulls have the Federal Reserve, CMHC, Bank of Canada, Big 5 Banks, etc.

Laughable really that west side gets up votes. Says a lot about this blog.

southseacompany
Member
southseacompany

It’s a subscription link, but if you scroll, you can read all the lines of the article. If you care to.

southseacompany
Member
southseacompany
southseacompany
Member
southseacompany

Shelley Fralic asks; “Housing affordability in Metro Vancouver – – Is the real issue our expectations?”

“http://www.vancouversun.com/business/Shelley+Fralic+Housing+affordability+Metro+Vancouver+real/10326688/story.html

It’s all imaginary. Home prices aren’t really expensive.
Nice, from a boomer who bought when prices were 4X average income not 16x.
http://canadabubble.com/bubble-watch/2320-vancouver-housing-bubble-part-2.html

ham
Guest
ham

“Son of Ponzi
October 25, 2014

Ever notice how HAM are buying suitcases by the dozen at Costco.
Any idea what they could be used for?”

Yes, HAM always buy lots of suitcases to bring back loads of cash. Dont f#$k with HAM, they will buy your moms home for 25% above market value