Enjoy the long weekend and happy easter, don’t stress about real estate for a bit. Things will get better.

The divergence is widening between the TSX Real Estate and Financial Services indexes with financials turning down much earlier than at the 2007 top. Here is the March data:

http://www.chpc.biz/tsx-indexes.html

Is this a prelude to a plunge? In 2007 as the divergence widened on financial fears and energy anxieties, real estate appraisers had to dust off their calculators and return to adding the income approach and replacement calculations back on to their comp-heavy arguments.

http://www.vancitybuzz.com/2015/04/st-pauls-hospital-demolished-condos-ndp-mla/

More condos for those dam foreign investors to snap up and rent back to the lowly local. AMIRITE?

That homophobic dude was right, no rate hikes in the US for awhile. Sigh Canada is never going to raise rates.

http://www.bloomberg.com/news/articles/2015-04-03/weak-jobs-gain-gives-fed-new-reason-to-delay-first-rate-increase

All our internet millionaires should sell sell sell their stocks.

http://www.bloomberg.com/news/articles/2015-03-31/sell-your-equities-and-take-six-months-off-says-saxo-economist

like ive been saying for a long time now.. rates will never be raised… all developed nations are following the japan playbook.

What illusion we live here in BC…

http://finance.yahoo.com/news/much-earn-considered-middle-class-170000901.html

@ 5
and Garth is out saying again that despite the bad US Non-farm payroll numbers we will have rate hikes. Of course he has been saying the same things for a LONg time

Not that I see how the US raising rates will affect our housing.

@2

Sure stinks ti high heaven!

@#2
“Dad is of course Li Ka-Shing, who got the Expo lands at the expense of the BC taxpayer.”

How was it at the expense of BC taxpayers? He bought during the dip like the smart investors do.
The idiots are the government who was so short sighted to sell it off, much like what happened recently with the Olympic Village.

Funny how history repeats itself.

#12
who elects the government?
Stupid taxpayers.

Was with a bunch of wealthy gov connected people today. Here’s what I found out.

1. The YES side campaign has decided to only advertise in Vancouver and not the suburbs. New strategy is to get vancouverites to vote (most likely to vote yes) and to erase the vote from memory of people in the suburbs.

2. Prime minister of India is coming to Vancouver and Christy is getting set to expand the international student program. 300 people to be invited to dinner. I’m putting in n application as we’ll. I’ll let you know how that goes.

3. Hepner, the mayor of Surrey, will in a few weeks threaten homeowners that their property taxes will rise if there is a NO vote.

And to the idiots who still live by GT blog and its conclusions….fuck are you guys ever dumb.

The USA will raise rates by 0.25% over the next few years and he will say ‘told you so’

Makes me want to vomit not only at him but the cult followers.

“Until climate change reduces the amount of rain and time erodes all the hills in this city, cycling will continue to be more of a recreational exercise than a necessity.”

Man I really don’t understand this attitude. Just because you’re too lazy to bike in the rain doesn’t mean that everyone else is. Would you rather have someone getting to work on a bike off in a dedicated route or sitting in front of you in a car or truck adding to gridlock?

Not everyone cycles, rides the bus, uses skytrain, uses the HOV, walks AND drives to get around, but that doesn’t mean that all of them aren’t valid forms of transportation that should be encouraged to cut down on traffic.

“The entire 82-hectare site on which the future Creekside Park sits used to be an industrial site. It was bought by the provincial government for $60 million in 1980 and used for the world fair Expo 86.

In 1988 the entire parcel was sold by the Social Credit government of the day for a reported $320 million to Concord Pacific, whose majority shareholder was Hong Kong billionaire Li Ka-shing.”

http://www.theprovince.com/technology/False+Creek+residents+shocked+when+assessment+reduced+chunk+Expo+lands/8813037/story.html

$240 Million profit in 8 years. Not to mention the millions in revenue from taxation of condo owners.

How is that giving it away? It tool the visionary free market leadership of Mr. Ka-shing to make False Creek what it is today.

“Not like the OV at all actually. The OV disaster happened because the CoV thought they could get an excessive price for the property by taking on completion risk. So it’s really the opposite situation.”

Because the COV should not be in the real estate development game – you are arguing with yourself.

Oracle,

Some good posts.

USA will only increase interest rates by 0.25% over the next few years…

I beg to differ (in my opinion) and am of the view that a synchronized global recovery will drive rates up more sharply by that.

I assume if rates rise by more than a quarter point, that you will pull a GT and spin around it and claim to have been omnipotent the whole time…:-)….that guy is a master communicator, I give him that.

On another note, a 54% increase in sales volumes and all we get is a modest increase in prices for the month, despite the pidly inventory (no one wants to sell when they think they can get more later). Classic market top/exhaustion.

I stick to my view that prices and the whole gasbag looks shaky in a few months time.

WSR

Here’s Bob Ransford’s take on the Expo Land sale, from Gordon Price’s PriceTags Blog:

https://pricetags.wordpress.com/2015/01/06/the-mostly-untold-story-of-the-sale-of-the-expo-lands/

17 Patriotz

I did not agree with you that Vancouver residents get the short end of the stick with transit

In the greater vancouver area transit is all aimed towards Vancouver sort of like all roads leading to Rome

When I was younger it was affordable to live in Vancouver and travelling by bus was easy and quick in fact it was better than driving as no parking hassles

Then I lived in Mount Pleasant and worked downtown now I live in the tri cities area and work in Delta

Now I live in the suburbs and transit is not convenient at all try taking transit from Port Coquitlam to Langley probably 2 hours

At my second Open House today, traffic is slllloooooowwwww.

WSR