BC, Canada, data, equity, hype, prices

Moving up in Vancouver Real Estate? Not so much…

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CIBC World Markets has released research that looks behind the average price moves in Canadian real estate. How are prices moving in Vancouver?

Astonishingly enough it looks like properties under the $1.1 million mark have moved less than a GIC in the last four years.  Here’s a graph from the original PDF:

Screen Shot 2014-10-15 at 2.50.16 PM

 

That boggles the mind. Even Toronto which has prices going up at the high end looks like its been a much better investment at the lower and middle end:

Screen Shot 2014-10-14 at 2.38.45 PM

 

So essentially that idea you have in your mind that Vancouver real estate has been a good investment over the last four years with prices just rising and rising? Not so much.

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[…] of the boom? -A look at bankruptcy and foreclosure -Alberta anxious over dropping oil -HAM or BCM? -Prices wont go up or fall […]

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Heard Herd selling

Bailing dully noted:-) Oracle I recommend SRY landlot reeks listed on the BSX, amazing dividends, ie you rent expensive house from dumdum landlord and he subsidizes you, he takes all risk and lose in the end, bend over

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Marco

Just an aformention to my previous post in reply to Bo Xilia’s post on foreign luxury tax in New York.

I gather Mayor Gregor Robertson doesn’t think we have hit critical mass yet. But he has his his housing affordability task force on the case…

Most countries have foreign tax, why don’t we? Simple, to keep the gravy train running…

Cheers.

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Oracle

Aside from the bs, what stocks do others recommend on this blog and why?

Let’s try to help each other out and make some serious coin.

These opportunities only present themselves every once in a while

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Oracle

And to the non-losers on this blog,

I’m going all in equities at the first sign of capitulation in the markets. Time to make around $50,000 from all this volatility. Would be a nice down payment on an Arizona home.

Any thoughts on what level the TSX or S&P will fall to? With individual stocks, I was thinking Rogers or Air Canada. The latter seems to be an excellent buy if they get ebola under control.

Santa Claus rally here we come

What about you westside? What are you going to buy… Or you think there is weakness everywhere. Hahaha.

Go back to playing video games boy.

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Oracle

First post of the day.

Just glad that there are people, er westside Realtors, with 2 functioning brain cells.

Makes it much easier to make money.

Shut is down already: this guy is a but. An early twenties nobody who thinks he had it all figured out. He has no Home, no real career, and no portfolio.

Otherwise he wouldn’t be posting here.

Get a life. Start with an education, get a well paying job, and move on…. But difficult with 2 brain cells.

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Bailing in BC

Heard Herd Selling #49

My comment was not in regard to what I believe, but what I know by collecting hard data. As I put in my post, I looked at the new case report, which if YOU had bothered to look at covers the new files processed by the BC court registry the proceeding 2 days. The data I was referring to was files processed on the 13th and 14th of Oct posted on the 16th. I was comparing it to data I collected last year covering the 14 & 15th Oct 2013. The average from the data I collected last year over a 2 day period was 29 foreclosures and 18 bankruptcy’s

https://eservice.ag.gov.bc.ca/cso/newCaseReport.do

Try not to be a dick.

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Marco

#Bo Xilia

This article is a year or so old.

This is what Mayor Gregor Robertson says about taxing foreign home ownership in Vancouver…

http://www.cbc.ca/news/canada/british-columbia/should-we-tax-foreign-buyers-of-vancouver-real-estate-1.2452769

Cheers.

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Shut It Down Already

I’m not Oracle, dipshit. Do you ever read (comprehend) the posts here, or just post your stream of consciousness?

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Westside Realtor

Too funny, Oracle you just could not stay away. Welcome back. We missed you. Not. Why would a realtor want falling prices? Well, because I don’t speak mandarin for one thing, and I am sick and tired of all the HAM dominating and changing the culture/dynamics of my community, without giving much of a shit about the current residents/history and behaviors of us true blue Canadians. Also, I believe prices will fall because prices are out of whack with fundamentals. I help my clients make rational decisions based on fundamentals and right now I am telling prospective buyers who will listen that renting is cheaper than buying. Why do I tell them this? Because it’s true. In any event, I will make my fair compensation for helping buyers and sellers in a straightforward and forthright manner, I don’t need a… Read more »

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Bo Xilai

Zerohedge says NYC contemplating an occupancy tax for luxury properties…

http://www.zerohedge.com/news/2014-10-16/meet-proposed-tax-could-crush-high-end-nyc-real-estate

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Marco

#57

Yes, CMHC says it shouldn’t exceed 33% and I believe that’s a max. Many say between 25 and 28% is good. There was an article in the Van Sun stating that 48% of Vancouver homeowners do not have a mortgage. A lot of them no doubt bought before 2000, so they are loving the run up. But I wonder about expensive renos, Heloc’s, second mortgages, kids educations. And how many are relying on selling their house at high price for retirement?

Cheers.

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Westside Realtard is Romeo Jordan

#40 “Here is a stunning stat. BTW… Westside Realtor this is a fact not a made up story.

In the US from 1975-2014 the average mortgage payment as percentage of household income was 20.4%*

The peak was in was in 1982 at 39.5% (With interest rates at 20%)

Currently the national average in Aug 2104 is 13.5%.”

That is unbelievable! American’s pay an average of 13.5% of household income towards mortgage payments and Vancouver is what 55%? 4x as much???

HOW CAN WE NOT BE IN A BUBBLE?

Seriously, how can anybody with a brain think that this can last?

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Westside Realtard is Romeo Jordan

#48 “epic meltdown”

This was a very common phrase from Romeo Jordan.

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Shut It Down Already

Westside “Realtor”, why would anybody who earns their living from real estate commissions be hoping for a downturn?

Is it because you’re full of shit? I think so.

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antioracle

Sssssooooo nice without Oracle posting here, ahhhh:-)

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Marco

Over at Garth Turner’s blog, his Blog title tonight is. : The End. “Smart people know where this is going. Tails up”

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ham

Thanks Paul B. Gotta love that look on ya 🙂 Somewhere, youre laughing

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paulb

New Listings 220
Price Changes 80
Sold Listings 162
TI:15433

http://www.paulboenisch.com

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CrashComing

Westside

I have no (zwro) doubt that the crash is coming.

All bubbles end in pain and tears.

All of them.

This is a bubble and it’s an old one at that. Feels like the end to me.

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Heard Herd selling

@ bailing, what do you believe there was only 29 foreclosures last year? There was that many this month going thru the courts, the banks are selling them via court before being labeled as “foreclosures”, the big 5 all have full time lawyers racking in the $ handling these daily, don’t believe me go to the public court sessions daily

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Westside Realtor

Shop Talk – anticipating an avalanche of listings in our area.

One reason/explanation being offered is that is what the “smart money” is also doing with their mainland China holdings.

Could we be on the verge of an epic meltdown?

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valleyrenter

@Lou

It tells me that the people who shop at the stores that aren’t dollar stores are probably at work, making money to spend at those stores.

On a lighter note, anyone else hear the jingle for RBCs’ small business account and then get the hankering to go to Subway for a $5 foot long afterwards?

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Lou

I was in Metrotown yesterday, most shops’ cashiers were so quite with some window shoppers, but only dollar store with a line up, what does that tell you?

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patriotz

@44: “I guess the editors of Business week are now racists, too.”

No not at all. According to the RE industry, it’s only “racist” to point to foreign buyers (real or imagined) as a reason why we should bring in foreign ownership controls or immigration limits.

But it’s not “racist” at all for them to point to foreign buyers as a reason why you should forget about buying a house and buy one of their crappy condos for $400K.

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