Vancouver Realtor Hunger Index November 2014

RFM has updated the Vancouver Realtor Hunger Index for November 2014 over at Vancouverpeak.com

The index is creeping up from its mid levels, but nothing too dramatic at this point.

The VANCOUVER REALTOR HUNGER INDEX for November 2014 was 62%. How does this compare? The 17-year average for November is 54%. At 62%, the 2014 November VRHI equaled 1999’s figure and was higher than 10 years and lower than 5 years since 1998.

Details and comparison data for 17 years at:http://vancouverpeak.com/showthread.php?tid=64

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patriotz
Member
Westside Realtor
Guest
Westside Realtor

Don’t believe the Hype.

Market internals are blah at best and the trend is negative.

Developers are cutting prices to move product.

This mania is set to end badly.

That house we lowered to below comps still remains unsold. Next move – further price cut, and cross out fingers.

HAM, oh HAM, where have thy gone?

CV
Guest
CV

Latest household credit numbers from the Bank of Canada:

http://credit.bankofcanada.ca/householdcredit

Latest business credit numbers from the Bank of Canada:

http://credit.bankofcanada.ca/businesscredit

Bo Xilai
Member
Bo Xilai

Investor Program to be replaced with new program with only 50 families per year…

Looks like there will be way fewer Ferraris with “N” stickers in Vancouver’s future:

http://www.scmp.com/news/china/article/1654749/canadas-new-millionaire-migration-scheme-will-only-take-50-applicants

kabloona
Member
kabloona

#1…..you beat me to it….

Massive personal debt….it’s the Economic Action Plan in a nutshell!

😉

Loon
Guest
Loon

1.5T CAD in consumer debt ?!?!?

The little piggies are gorging themselves at the debt trough of shame.
Not even ‘good’ debt either, by that’s a whole other kettle of shit.

space889
Guest
space889

@Bo Xilai – Most are coming in as entereupuer or business investment class now where they buy a business for a certain minimum amount. A lot of boomers are with barely hanging on business are getting bailed out this way as they can sell their business to the immigrants for more than its actual enterprising value which is likely $0 or negative.

I think the requirement is to run the business for like 3 to 5 years and ensure there is “growth” and at least 2 employees or something like that. So buying a marginal business and lose $60K to $100K is about on par with borrowing $800K to lend to government under IIP. Though this one does help a bit with employement and again bailing out those aging boomers.

ostritch
Member
ostritch

Here is real news:

http://globalnews.ca/news/1705346/shared-spaces-taken-to-new-extremes-in-downtown-vancouver-rentals/?hootPostID=41922926422050b7620ae4b1bfc7788b

Vacancy rate down to 1.8% for Vancouver and for small “affordable” places down to 1.2%. I told you bears! Rents are up, not down.

ostritch
Member
ostritch

Bo Xilai,

That is good news. And the only hope this market might flatline. Having said that, you don’t have to live here to invest here. But it will definitely be a turn off for wealthy Mainlanders and Hong Kongers UNTIL Trudeau makes it an election issue.

Best place on meth
Member
Best place on meth

“Investor Program to be replaced with new program with only 50 families per year”

Still too many.

But that leaves 50,000 angry locusts who were dumped from the previous IIP program who now need to find another place to invade.

http://www.zillow.com/arcadia-ca/home-values/

nufio
Guest
nufio

in the article it mentions that of 1.5 T 65% is mortgage debt. misleading headline but still a huge number.

@BPOM
Guest
@BPOM

Check out he new express entry program announced just a few days ago and draw your own future conclusions.

VanRant
Member
VanRant

@ 12
Express entry program is for skill workers that Canada desperately need. Unless driving Lambos qualified as a skill, the majority of the locusts are out of luck.

Many Franks
Member
bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

@ #13

actually i think this new express program will be full of loopholes which will provide easier, quicker entry into canada for many so called “skilled” workers AND their dependant family members. if i am not mistaken all canadian employers will be able to draw upon the candidate pool. all it would take is for some established co. named XYZ or whatever to setup a satellite office in canada, which would then be in the business of moving bodies into the country. surely the whole process would be expensive, but we are talking about folks with more money than they know what to do with and the desire to move it (along with the whole family itself) out of the country

bullwhip29
Guest
bullwhip29

something tells me this whole LNG scheme will end badly for British Columbians. with the oil patch going down in flames at the moment, i fail to see how 10’s of billions comes pouring into our province anytime soon

http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/petronas-delays-decision-on-pacific-northwest-lng-project/article21923667

Skook
Member
Skook

Off-topic.

The Sunshine Coast sales stats for August, September and October are finally up at our sister site VancouverPeak.com. The complete stats are over two posts.

Part 1: http://vancouverpeak.com/showthread.php?tid=5236&id=6255#pid6255

Part 2: http://vancouverpeak.com/showthread.php?tid=5236&id=6257#pid6257

For November, “$1mill+” property sales can be found here:
http://vancouverpeak.com/showthread.php?tid=5237&pid=6258#pid6258

Land Sales are here: http://vancouverpeak.com/showthread.php?tid=5189&id=6263#pid6263

I’ll have the rest of the November stats up on the weekend. Skook

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

@bullwhip29

how can it end “badly”? the worst case scenario is the status quo. that’s not “bad”, it’s “no change”.

paulb
Member

New Listings 147
Price Changes 45
Sold Listings 171
TI:13032

http://www.paulboenisch.com

maurice
Guest
maurice

We have manipulated oil prices to targetted levels in order to build hydro carbon infrastructure, that will then be turned over to moving water. LNG pipeline to the West Coast is the last piece of the puzzle, and has hit Capex critical mass. We can now rip the rug from under the Hydro Carbon edifice. Petronas has done its job admirably.

Skook
Member
Skook

Off-topic.

The Sunshine Coast sales stats for August, September and October are finally up at our sister site VancouverPeak.com. The complete stats are over two posts.

Part 1: http://vancouverpeak.com/showthread.php?tid=5236&id=6255#pid6255

Part 2: http://vancouverpeak.com/showthread.php?tid=5236&id=6257#pid6257

Skook
Member
Skook

Off-topic.

For November’s stats, “$1mill+” property sales can be found here:
http://vancouverpeak.com/showthread.php?tid=5237&pid=6258#pid6258

Land Sales are here: http://vancouverpeak.com/showthread.php?tid=5189&id=6263#pid6263

I’ll have the rest of the sales data up on the weekend. Skook

Skook
Member
Skook

Re #22

Sorry, don’t know why the links to Part 1 & Part 2 are directing properly. Here they are again…one last try…

http://vancouverpeak.com/showthread.php?tid=5236&pid=6255#pid6255

http://vancouverpeak.com/showthread.php?tid=5236&pid=6257#pid6257

Skook
Member
Skook

Re #23

Link to Nov 2014 SC Land Sales needs to be reposted too:

http://vancouverpeak.com/showthread.php?tid=5189&pid=6263#pid6263

Sorry about the problems – not sure why. Skook

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