Its Friday already!
Time for another open topic discussion thread for the weekend.
This is our regular end of the week thread to talk about whats happening in Vancouver housing news, the global economy and other related topics.
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
[…] This Vancouver Sun article used to have the headline “Vancouver housing market in bubble, new house price index claims.” […]
“Vancouver, Toronto home prices continue to show ‘bubble behaviour’”, Global news
http://globalnews.ca/news/2221250/vancouver-toronto-home-prices-continue-to-show-bubble-behaviour/
“Rock-bottom interest rates combined with sustained exuberance among buyers and an assist from a steady flow of foreign cash, according to experts, propelled the Vancouver and Toronto housing markets to new heights in August.”
“Aided by low rates, a shortage of detached homes in those regions compared to the number of interested buyers is driving the rapid price inflation, the Canadian Real Estate Association said.”
“Bubble behaviour?
“Overall, while most markets are responding logically to softening domestic economic conditions, Vancouver and Toronto continue to exhibit bubble behaviour,” David Madani, economist at Capital Economics said in a research note this week.”
Globe debate primer: Where Canada’s leaders stand on housing
Where they all stand is that they don’t even want to consider that prices may or should come down.
Sales in Calgary are tanking. 30% down Sept 201515 vs 2014. Realization now very badly starting to set in that oil isn’t gonna rebound anytime soon.
Residential overseas Investor interest and influence has turned negative. Just not worth it.
Sales sinking as we speak. -20-30% sales drop. Its starting to sink in.
Angella calla helps a 68 year old buy his first new home,i kid u not Doesn’t this women have no shame ?
listen to her at 35:20.
https://soundcloud.com/cknw/the-mortgage-show-with-85?in=cknw/sets/the-mortgage-show
@#119
Nothing like Poloz adding a little ‘liquid flame’ to a fire that’s running a little low on oil. A welcome guest at the Calgary BBQ.
told ya
listings exploding
Changing system..
WTF? Calgary prices now surging fastest in country!
The new mls system is meant to scue numbers…deception pump pump pump. …listing explode in fall? Cash out times
We’re switching over to a new MLS system called Paragon. I don’t know why we’ve made this change but it’s a huge pain in the butt and I haven’t figured out how to update the daily numbers yet… Will sort this out tomorrow and catch up.
@ Ulsterman
Their policy has been in place for just a few weeks….so even if it proves to be more effective, my guess is there would be lag time.
We may not need China to act anyway since Canada is taking a strong lead with a comprehensive policy of rigorous multifaceted imaginative approaches regarding this issue. No stone will be left unturned……LOL!
@107
“Would the last one leaving Alberta please be sure to turn off all those Ford F150’s.”
They’ll still be needing those for accommodations.
At least they’ll be extremely cheap to heat.
they actually rewrote the entire article.
is that even allowed?
pressure…
#111
Yes that was exactly the headline, they changed it a few hours ago….what up with that?
http://marctomarket.com/2015/09/great-graphic-offshore-yuan-converges.html
graphic and article explains the closing of the gap between The Onshore yuan, and the Offshore yuan.
Many Franks: Was that the original headline of the article (Vancouver housing market in bubble, new house price index claims)? Just wondering, because the headline now reads “Vancouver’s ‘housing bubble’ shows no signs of bursting.”
They still use the dreaded bubble word, but now in a far more real estate industry-friendly context.
One Chinese agent said the latest efforts by the central government to avoid large capital outflows were having a “significant impact” on his business
Read more: http://www.afr.com/real-estate/chinese-retreat-from-australian-property-as-capital-controls-bite-20150914-gjm282?stb=twt#ixzz3llkjpwYK
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So capital controls FROM China significantly affect Australia and yet prices in Vancouver continue (as per usual) to defy gravity and surge ever upwards. Yet again, it really does appear to be different this time. Another reason for the impending correction seems to have no effect in la-la land.
This just in: Vancouver housing is in a bubble!
Vancouver housing market in bubble, new house price index claims:
“While foreign investors are no doubt playing some role, we think this explanation is overblown. Low interest rates and self-fulfilling expectations of higher prices continue to inflate actual prices independently of fundamentals,” reads a press release from the creators of the index.
“Over the longer-term, we still believe that these housing markets will experience major price reversals.”
A Canadian $5 coin should be called a Fux-US as it’ll be worth Four Bux US.
$20/Barrel oil: http://finance.yahoo.com/news/crude-oil-prices-hit-20-115452646.html
Would the last one leaving Alberta please be sure to turn off all those Ford F150’s.
…..is the loonie the new quarter? and how long before the $5 coin is introduced? and what clever name shall we give it? ….
Name it after Harper: Buffoonie.
@98: FOONIE!!!
Actually, put Terry Fox on it and call it a “Fox” or “Foxy”.
Rebrand the “toonie” as “the bear”.
Hinterland (Currency) Who’s Who.
@98 bullwhip29
is the loonie the new quarter? and how long before the $5 coin is introduced? and what clever name shall we give it
——————————-
How about the fini?
@102 BPOM
You’ve got it! Thank you for my laugh of the day!
realist
@99
I vote for “Canminbi”, for obvious reasons.
And I like the sound of the $4 store, is has a nice ring to it.