Canada, humor, opinion, predictions, prices, renting

Well, that must be the top then.

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64 Comments

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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Bull! Bull! Bull!

correction, i mean real estate has been going sideways

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Bull! Bull! Bull!

>Let me ask you something, once the press release comes on the front page of the newspaper “housing prices down 10%” (already there if you planned to sell today). How long would it take you to sell, how much would it cost, how much to move, where to move to, lol…Great investment!!!!

stocks have been going sideways for more than 2 years. anyone who wants out has had more than ample opportunity to do so.

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Bull! Bull! Bull!

>Since you’ve never owned a large cap stock, I assume you don’t realize how easy it is to sell them.

of course it’s easy to sell them. that’s why the market is collapsing, because there are so many sellers that are doing what is very easy for them to do – dump their stocks.

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Marco

#53 Tedeastside

I meant focus not focas. I should watch my spelling. Anyway, I would like to see a shot of Santa Monica Pier when you’ve got a chance.

Thanks.

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Shut It Down Already

Ted, apologies, please excuse my previous post – I found an additional 7 blogs/sites that you’re spamming with the same tired crap (e.g news1130, RET, huffingtonpost, Georgia strait).

It must surely be a full-time job.

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Marco

#53 Tedeastside

Ah yes Venice beach and palm trees. Great place, keep the shots coming…

Watch your focas. Composition is not bad, vanishing point works well, edges of frame are good. From a photog.

Peace from rainy Van.

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Mortgageslave

BTW, Mine are down around 2 to 3% since the correction started. Not plnaning on selling anything, dividends still pumping out and a large majority in US stocks so even if they go down, I break even when converting to CAN, loser..

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Mortgageslave

!

“How are your stick portfolios doing? It was a smart move pushing all that money you saved renting into the market, huh?”

Since you’ve never owned a large cap stock, I assume you don’t realize how easy it is to sell them. Let me ask you something, once the press release comes on the front page of the newspaper “housing prices down 10%” (already there if you planned to sell today). How long would it take you to sell, how much would it cost, how much to move, where to move to, lol…Great investment!!!!

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Shut It Down Already

Ted, how much of your day do you spend spamming the same tired crap to this blog, vreaa, and The Sun? Did Garth ban you from his blog?

Just curious.

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Yunak

@Priced out by choice

Those arrogant fuckers are just demonstrating power, for starters at the UBC. They are not that much dumb as they look, rather testing how far they can get with the shit.

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Priced out by choice

https://ca.news.yahoo.com/blogs/dailybrew/university-of-british-columbia-pedestrian-staircase-151815166.html

Look closely at the driver. Its Bull! Bull! Bull!

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tedeastside

right now in los Angeles….but im sure everybody wants to be in vancouver the best place on earth, though

http://i1.wp.com/travelthisearth.com/wp-content/uploads/2014/07/Venice-Beach-Summer-9.jpg?resize=900%2C553

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Westside Realtor

We are not seeing a flood of buyers from HK.

We are not seeing any surge of HAM buyers – the flow has dwindled to a trickle.

Will E Van market soften next?

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bobwestsiderealtor

All I know is that if this economic malaise keeps up for another 5 years my house will be paid off and I’ll have averaged about 3% interest payments over the life of my mortgage. Meanwhile, my tenants are funding my TFSA and RRSP for me.

Can’t deny that the stock market correction isn’t hurting though.

I do recommend people start scaling into Canadian banks once they get to 5%+ divvies.

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Bull! Bull! Bull!

How are your stick portfolios doing? It was a smart move pushing all that money you saved renting into the market, huh?

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Madashell

Looks like poloz is getting his wish of a lower cdn dollar. Be careful of what you wish for.

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southseacompany

“Hamilton’s housing market rising twice as fast as national average” CBC

ww.cbc.ca/news/canada/hamilton/news/hamilton-s-housing-market-rising-twice-as-fast-as-national-average-1.2799279

“The cost of a standard two-storey home rose 10.2 per cent since last year, jumping more than $30,000 between 2013 and 2014 third quarter results. The figure is nearly double the Canadian average hike of 5.5 per cent”

“Only Calgary, Alta., had a greater percentage increase. The booming oil city rose 10.8 per cent on detached bungalows, and 9.2 per cent on two-storey homes over the same one-year period.”

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Son of Ponzi

#37
I heard that the TFWs working on the native reserve are applying for status as natives.
So they won’t have to pay taxes.
If the application is denied, they will sue the Department for Aboriginal affairs for discrimination.

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southseacompany

“Even Canadian real estate companies don’t see much growth in home prices left” Financial Post

http://business.financialpost.com/2014/10/15/even-canadian-real-estate-companies-dont-see-much-growth-in-home-prices-left/

“One of the largest real estate companies in Canada is conceding house prices don’t have much room to go up, but Royal LePage still maintains they won’t fall.”

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Son of Ponzi

#37
what’s bannock in Chinese?

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Son of Ponzi

#37
Mr. Ng, who is not aboriginal.
——————–
Got a good chuckle out of this one.

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Doug


re: markets

It’s October… scariest month of the year.
5yr interest rates were down 20% this morning. People are scrambling to buy bonds. Again, typical October.

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Westside Realtor

Just a guess, but I find it hard to envision Alberta RE staying on the boil with oil down this sharply.

I suspect that in the C suites of the oil companies they are busy sharpening their pencils and looking for ways to jettison/reduxe costs.

They may be in a position to put downward pressure on wage pressures they have dealt with for some time.

Interesting times.

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Doug

“Just in time for the next down market in the oil price cycle.”

Looks like up cycle from here, down cycle started Aug ’13.
$77 in 2012
$112 in 2013
~$80 in 2014
$115 in 2015??

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George

I know it’s not real estate, but can the economic heavyweights on this blog please comment on what’s going on in the stock markets. I casually keep an eye on those, and it seems to me the Dow has closed negative everyday for about a week now. I thought this morning we’d finally see some green after all the selling. Nope, Dow is down triple digits yet again. Also, the price of oil has been falling? What’s going on out there in the international markets? What are the implications for Vancouver real estate prices?

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