Well, that must be the top then.

Over the weekend we found out that a bearish poster on this site just bought a house.  Not in Vancouver mind you, but still..

What went wrong? Landlord wanted to move back in. Now if it was just me I would have rented another place, but as it isn’t just me I decided to see if I could make buying work.

Had to look outside my old neighbourhood, but I found a house on a big lot, price $330,000. Taxes about $3000/year, rental value about $1750/month. Great deal? No. But one I can live with. There might be some downside on the price going forward, but what matters to me is value, i.e. ownership costs versus rent, not expectation of price changes going forward.

And in that same thread we found out that a bullish poster sold his house and is now renting.

In all sincerity, when a voracious bear purchases, it may signal a top. Market trends often reverse at points like this.

To let you guys in on a secret, yours truly is no longer a home owner. I rent. I do have other real estate interests though.

So are these signals of a market top or what?

 

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VanRant
Member
VanRant

No Toll Bros coming to Toronto: “We saw a lot of people buying with no intention of living there – they just planned to flip,” Mr. Yearley said. “When you have a lot of flippers, that’s when a bubble comes.”

http://www.theglobeandmail.com/report-on-business/economy/housing/the-real-estate-beat/too-many-flippers-scared-big-us-home-builder-away-from-toronto/article21085209/

Westside Realtor
Guest
Westside Realtor

Great headline blog post!

Timely too, imho.

That said, i believe the westside sfh top was in this past spring.

IIP slowdown is REAL.

VMD@work
Guest
VMD@work
With the stock market and Canadian dollar in decline, Canadian 5Y bond yield just hit 1.5 year low at 1.43%. Still some way from the 1.18% yield in spring 2013, when banks were offering 5Y 2.79% fixed mortgages, but if the stocks sell-off and drops in bond yield continue, we may see 5Y 2.99% fix rates across big banks soon. The onus is on the government to intervene (or rather, to decrease their intervention via cutting back CMHC involvement), otherwise the banks will continue to push their mortgages to get the party going even if just for a little while longer. Unfortunately with the federal election looming in 2015, and with our new Fin Min thinking “no bubble in Canadian housing” (well, besides Van, Toronto, Calgary), the chance of government making Major moves on CMHC/OSFI is low. Would be nice… Read more »
patriotz
Member
CanuckDownUnder
Member
CanuckDownUnder

I can only laugh at those sale/rent numbers. Here is a recent “investment” property sold in our Sydney suburb, sale price of $1.3 million and it’s listed for rent at $650/week. But hey, after just 20 months of renting it out you’d have covered the stamp duty paid on the sale, after that it’s all gravy! 🙂

http://house.ksou.cn/rp.php?q=Oatley&sta=nsw&id=533068

Heard Herd selling
Guest
Heard Herd selling

Well well, a friend o mine who works for Canadian Oil Sands, is selling his E van house he bought in April 14, why he just lost his job, asked me if I was interested…. Ship is hitting the fan goin to be a scary Halloween

truther
Guest
truther

Dave has always been right and patriotz has always been wrong.

Westside Realtor
Guest
Westside Realtor

Jackpot!! I was in an afternoon sales meeting in my office and the realtor beside me (who has been on the westside for 26 years) just got up and quit!

She said HAM is dead and she is done with this market. She predicts a 99% correction in the next 6 months.

The jackpot part is she left her Starbucks Latte. I haven’t had one in a year.

Boombust
Guest
Boombust

Well, I for ONE, have NOT capitulated!

So there!

patriotz
Member

“And in that same thread we found out that a bullish poster sold his house”

Somebody who works in the sell side of the market who tells you that it’s a good idea to buy is not what I call “bullish”.

“Bullish” or “bearish” is what you do with your own money, not what you want someone else to do with their money.

Oracle
Guest
Oracle

Patriotz,

You should have bought Surrey building lots when I instructed you to.

Then you would be rolling in dough like I am vs. Living in a shit hole like Ottawa.

Listen to me this time – HK and HAM money are set to flood the Vancouver sfh market, big time. Even westside realtard might make some money

Time for you bears to admit how wrong you have been!!!!!!!!

Brian Ripley
Guest
Brian Ripley

VMD@work #3 says “The onus is on the government…”

I came across a paper using data back to 1870 on mortgage creation in bank portfolios as a percentage of total loans and the authors are confident that rapid mortgage creation without any meaningful increase in business activity loans is a precursor to deep and prolonged recessions. I mashed-up the charts and summarized the paper here:

http://www.chpc.biz/history-readings/global-mortgage-boom

The included chart from Ben Rabidoux suggests the government (CMHC) is taking notes.

Marco
Guest
Marco

#8 Westside realtor

Still don’t know if you are actually a realtor but,

LOL… Ya, a Eureka moment. Thanks for the bit of humour. Carry on…

Oracle
Guest
Oracle

FYI,

Westside is posting as me multiple times per day. He now has 2 brain cells.

I only post every once in a while.

He is definitely destroying the credibility of this blog.

Oracle
Guest
Oracle

And by the way, it was not me who posted on the sale of my Surrey building lot.

I am holding on for a much larger gain than $30,000.

Add a zero to that and I might let it go next spring. There is a ton of upside left in this market despite the prognosticators who deny what is actually happening.

Oracle
Guest
Oracle

I may build on my lot and net an easy $600,000 gain on it after expenses, in less than 15 months.

The options are mine as I own it. Think about that renters.

Marco
Guest
Marco

The only way they’re going to keep this boat afloat is if the US Fed abandons it’s tapering.

http://www.ratehub.ca/mortgage-blog/2014/01/the-feds-taper-and-its-effect-on-canadian-mortgage-rates/

Or they open the doors wide open for foreign investment.

Peace.

westbeach
Guest
westbeach

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What the top looks like.

paulb
Member
Trusted Member

New Listings 258
Price Changes 125
Sold Listings 98
TI:15534

http://www.paulboenisch.com

nom nom nom
Guest
nom nom nom

…. does charging more money for investor immigrant program participation make it less socially destructive?

http://www.bbc.com/news/world-australia-29611137

nom nom nom
Guest
nom nom nom

… or merely moraly repugnant?

chinoria
Guest
chinoria

This marks the top

V1086455

Heard Herd selling
Guest
Heard Herd selling

Oracle I will rent your millio dollar house for $2500 a month, text me when the paint is dry enough to move in, I will operate grow up meth lab and make 25k a
month in you new house, thankful for generous landlords like u

Oracle
Guest
Oracle

Heard Herd,

You wouldn’t be able to afford the initial rent. Besides, if you are smart enough to run a grow op you would have been wise enough to load up on real estate.

Global economic weakness will drive big money/cash buyers to Vancouver as a safe haven move by the global elite. This town is not for wage slaves like you, it is the preserve of the ultra wealthy and local landholders now

I am sorry to tell you this, but you missed the boat – a long time ago.

Real Oracle
Guest
Real Oracle

Only post 14 is mine.

Moron behind the computer has time on his hands.

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