Cautiously optimistic

There seems to be a shift if then Vancouver real estate market lately and that has some people excited about a potential return to sanity, but we’ve  seen versions of this story before.  BearVancouverite shares some thoughts on why they remain ‘cautiously optimistic’ and a question about the future:

Some posters here are counting their chickens before they hatch. I’m with Ulsterman in being cautiously optimistic.

We all need some perspective here:

1) Total inventory is still below 10k. In previous years even 15k+ inventory saw a mostly sellers market.
2) The superb chart that Brian Ripley posted shows that the purple dots are leveling off, at an absorption level ABOVE 2015 and 2014 still. I hope this continues to drop.
3) News reports show that condos are still selling at a decent pace
4) Even a 50% drop in Summer 2016 listing prices only resets prices to maybe 2013 levels. Most houses I see listed in Killarney for instance are as of yesterday listing for $2.2-2.8M. Going down from there to $1.1-1.4M is still above what almost every bear here was willing to pay in 2010.

Here’s my question, and I honestly want to know because I’m trying to figure out at what point I should seriously consider buying. If there’s a 50% drop, and a Killarney 120 year old near teardown is selling for $1.2M, how many of the prominent bears here (including vangrl, yvr, Hamster, BPOM, LS in Arbutus, and UBC in crisis) would recommend a friend to buy at that point?

Btw as a counterpoint to my above caution, here’s my personal observations:

1) I’m seeing a lot of Killarney listings SFH come up now. Far more than I noticed throughout summer.
2) In general I’m seeing more 3BR+ listings per day than during summer, although there’s still very little coming up.
3) I’m seeing a lot of higher quality SFH being listed. Eg not just teardowns
4) Some of the listings I see have descriptions which include the realtor saying “lived in by long term owner” or “for sale by original owner” or “owner of 40 years” etc. So just observationally some of the inventory coming online is from locals finally willing to sell.

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rockerguy
Member
rockerguy

Tom Davidoff lays it all down: https://www.youtube.com/watch?v=97uKzVDg-hw

Madashell
Guest
Madashell

At least two Canadian banks have tightened restrictions on mortgages granted to non-resident home buyers amid widespread concerns about the overheating housing markets of Vancouver and Toronto.
http://www.theglobeandmail.com/real-estate/two-banks-tighten-mortgage-rules-for-foreign-home-buyers/article32048190/

donald t
Guest
donald t

HSBC has the Mexican drug money hot and ready to lend to you at a discount, please visit our branch at West Vancouver when next your Monday deposit of $9,990 cash after dim sum.

bullwhip29
Guest
bullwhip29

couldn’t help but chuckle watching Krusty parade herself down the red carpet with ear to ear smile (as if the 1000’s of people there were cheering for her, which she surely believed). and now all this sickeningly sweet media coverage of her half wit son who had no business being present at the event

http://globalnews.ca/video/2963529/b-c-premiers-son-addresses-meeting-the-royals/

HAMster
Guest
HAMster

I actually felt sorry for Chris Gailus while he was interviewing those two.

bullwhip29
Guest
bullwhip29

Canadians in Panama Papers shouldn’t expect a tax deal, CRA says
http://www.cbc.ca/news/business/cra-panama-papers-1.3778888

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

Vancouver Popped Its Own Housing Bubble
http://www.valuewalk.com/2016/09/vancouver-housing-bubble/

patriotz
Member

“However, if all landlords are beginning to make less money or even suffer losses, that is going to be a big problem in the longer term.”

It appears that the author doesn’t understand that in a bubble market landlords are willing to lose money from the get go in the hope that they will come ahead on capital gains. It’s price expectations that support the demand to buy. If prices start falling, yes fewer will want to buy and fewer dwellings will be built. But RE is so much a part of the Vancouver economy that falling incomes will likely reduce rental demand in kind.

Oracle
Guest
Oracle

Rental demand is tied to population inflows.

Not Wishy washy stuff you talk about.

Funkeymonkey
Member
Funkeymonkey

Population inflows is tied to Jobs. I see this first hand as the number of sask and alberta plates grow in my company parking lot.
No jobs = No inflow we saw that in 2014 when talking about the province as a whole.

Oracle
Guest
Oracle

Wrong again. Its tied to Canada’s Immigration policy.

There are 2.7 Billion people in China and India. And there are many that want to escape the overcrowding in their cities.

Make no mistake. Rents are going to skyrocket. Lets sit back and see who’s correct.

Funkeymonkey
Member
Funkeymonkey

I bet 2.65 billion of those don’t know where Canada is.

bullwhip29
Guest
bullwhip29

what about the other 50mil? 😉

Boombust
Guest
Boombust

They’re poor. Been there twice; take it from me.

MLS watch
Guest
MLS watch

Bear Vancouverite, to me it comes down to lifestyle. I someone wants to pay $5000 (+ maintenance, taxes, etc) to live in Killarney because owning is their first goal in life, they should go for it. I prefer to rent for the privilege of sleeping in this city ($2100) and invest the rest of my money in projects that make me happy. When I advise friends, it is not all about ROI. Life is short.

Now do I think that prices will be stable after falling 50%? I am (90% yes, 10% no, since a war, an earth quake . or a worldwide recession are possible).

Oracle
Guest
Oracle

Its not a goal in life. Its a necessity. I’ve known people that lived in Co-Op’s for the last 15-20 years thinking it was ‘their’ decision while Ive also known people who bought 2 homes. The latter have secured their kids futures in the region while the former have priced out their kids out of the region.

mls watch
Guest
mls watch

There are plenty of other nice places on Earth… I do not follow you on that one.

ostritch
Member
ostritch

Hey Bear Vancouverite: what do you want from buying a house? Answer that one honestly and I think your decision will be easier. Do you want:

a) To own and expect housing to be housing and not expect it to go up more than 2%/ year?

b) To get in at the bottom and ride it back up as if you could get what you missed for the last decade?

c) To be right and parade your decision around family and friends?

If it’s either B or C it sounds like an emotional decision and you risk letting those emotions get the best of you. If it’s A,it’s possible if you wait long enough, you may successfully pick a bottom or you may miss it again. You should just purchase when it makes financial sense for your family.

Just my opinion.

Oracle
Guest
Oracle

Intergenerational wealth transfer to children so children can build on the wealth started by parents.

Its like that in China and India where 2.7 Billion people live. Canada’s 35 million will have to learn the hard way.

One way to stop this is via inheritance taxes.

Bear Vancouverite
Guest
Bear Vancouverite
I think most rational buyers want to own for the security of having a bit more control over their living conditions, and to be able to pay off a mortgage. As Patriotz would said, anyone else is a speculator. Lately however, I found it interesting to game out the idea of never owning. Many owners eventually downsize to help fund a retirement. It’s interesting to chart out whether the savings from renting until retirement Unlike some however, I will say that I am not just “happily renting”. I rent because the conditions make it more logical for me, but I consider it a temporary situation that I have to bear with, not something I aspire to. There are too many on this blog who claim to be “happy to rent” and yet incessantly rant about housing prices. The point of… Read more »
ostritch
Member
ostritch

I have no idea where this is going but one outcome that I am bearing in mind is that HAM needs momentum to flip. I’m of the opinion that they stopped buying two months before the tax and began their migration to other markets where upwards momentum was present.

I can see them returning to this market once it’s low enough to cover the 15% tax plus an X% pissed off premium. Much the same as Bear Vancouverite dreams of his house in Vancouver, so do others.

Billybonger
Guest
Billybonger

IF Oracle proves right on his 7,000 listings prediction (recently updated to a year end, vs month end, target) and flat prices, I’m going to follow all of his advice.

They way he shares his thoughts with us shows clearly that he believes in everything he says. It’s as if he has some sort of crystal ball, simply amazing.

Oracle
Guest
Oracle

I was wrong on the 7000 listings. However, i don’t see listings going up signicifacntlyfrom here on.

Prices have reached a plateau. There is no panic to sell. If this lull lasts until spring then watch out. Prices set to soar again for detached homes.

One thing that should worry everyone is rents are going to skyrocket. McCallum will make sure of that.

No Money Down
Member
No Money Down

Ah, the permanently high plateau.

http://time.com/3207128/stock-market-high-1929/

Boombust
Guest
Boombust

Good one.

Oracle
Guest
Oracle

Just because you can’t get into the market doesn’t mean others can’t.

You are going to die of old age waiting for that correction. Hate to say it but true.

Nom Nom Nom
Guest
Nom Nom Nom

Great post!

Boombust
Guest
Boombust
I seriously believe that it really is “different this time”… Why? Because, all bubbles eventually pop/correct. From a “technical analysis” point of view, recent charts/graphs point to this. Other cities/countries with previous housing bubbles have also borne this out… Also, Canadian debts loads are at all-time highs, current home ownership is at historically high levels, the banks are getting nervous and OFSI is recommending they tighten up their loan portfolios,, there are constant warnings from influential agencies such as the BoC, the IMF, etc., the Canadian economy is slowing, interest rates probably will NOT go much lower (at least as far as mortgage rates are concerned) the CMHC caps are almost at their upper limits, there is a lot of construction in the works that will give a considerable boost to inventories and, most importantly of all, the market psychology… Read more »
Its_the_ALR_stupid
Guest
Its_the_ALR_stupid
I know this is a very unpopular perspective around here, but being a data driven person I have to say it anyway: The bubble is not nearly as big as you all think it is. And because of this, prices will not correct nearly as much as you all hope/predict. Don’t buy that? Look at this graph: https://www.biv.com/media/filer_public/4d/2b/4d2b1a0f-4d67-46bc-910d-4a4adce33a7c/062216_affordability_vancouver_area.png First, notice the line for condos. It’s well within the historical range over the last 30 years. Maybe slightly elevated recently, but nothing remotely pointing to a large over-valuation. Now detached on the other hand DOES seem to indicate a big giant bubble, and if all you had to go on was this graph, you would be excused for thinking a big 50%+ correction was coming. But you’d be wrong, because one thing not explicit in this graph is the massive constraint… Read more »
Boombust
Guest
Boombust

This is THE biggest RE bubble the :ever Mainland has ever seen vis a vis price gains, duration and intensity. If you think this is the “new normal”, you are really out of touch.

Sorry to pop YOUR bubble, Bub.

Boombust
Guest
Boombust

…”Lower Mainland”…

Its_the_ALR_stupid
Guest
Its_the_ALR_stupid

If you think I’m wrong, could you kindly point out the flaws in my logic as I’ve outlined above?

Boombust
Guest
Boombust

See the lengthy post I wrote earlier on this thread…

Boombust
Guest
Boombust

Sure. See my earlier post on this thread.

Its_the_ALR_stupid
Guest
Its_the_ALR_stupid

I actually agree with just about everything in your post, which is why I’m calling for a correction just like you are.

So it seems we are debating the magnitude of that correction, not the causes.

But I don’t think we have a debate about where prices are going unless I know where you stand. I’ve stated my predictions on price declines, what are yours?

Boombust
Guest
Boombust

Mine? Oh, that’s easy. At LEAST 50% but probably all the way to 70% in certain areas.

Its_the_ALR_stupid
Guest
Its_the_ALR_stupid

As odd as this may sound, I sincerely hope you’re right.

Boombust
Guest
Boombust

Not odd at all. It’s just the way it works. Take the emotion and hype out of it and it all boils down to mathematics.

Ulsterman
Member

I know Boombust’s numbers sound extreme, but in my hometown of Belfast, Northen Ireland, the bust WAS 50-70%. I’ve no idea if we’re different in Vancouver but i will say the people of Northern Ireland thought this way too. Interest rates didn’t go up, nor did unemployment. In fact NI has a huge percentage of the population in stable government jobs. One day it just stopped going up and then it crashed.

I don’t believe Vancouver will drop 50%, but it could still drop 20-30% if this change in sentiment really takes hold. And that will crush many people’s confidence.

bullwhip29
Guest
bullwhip29

this frankenstein asset bubble is global in nature. central banks print, print, print til the cows come home. irresponsible and reckless, but they have no other choice but to continue this until system caves in on itself. also understandable that many flock to hard assets as paper is debased into nothing. this said, it is not the time to leverage up and buy everything in sight. end game will be fraction of 1% owning everything while majority get wiped out and end up on whatever social assistance is available.

Oracle
Guest
Oracle

Dude, no offence but this is no bubble. Detached are vastly limited in supply. Hence prices go vertical because buy now or never is true.

Townhouse and condos are different as you can build more.

Zero Down Forty
Guest
Zero Down Forty
That graph is from RBC’s Housing Affordability Report. Read what is says about Van; http://www.rbc.com/newsroom/_assets-custom/pdf/20160622-ha.pdf “Vancouver – Epic surge in prices crushes affordability” The combination of very strong demand and limited supply of homes for sale has led to an epic surge in prices in the Vancouver area. Aggregate prices jumped by 8.0% between the fourth quarter of 2015 and the first quarter of 100 2016—the strongest quarterly increase in 26 years. Relative to a year ago, aggregate prices soared by more than 24% in the latest quarter. Gains were especially strong (up nearly 25% year over year) for single-detached homes, which have been heavily coveted by deep-pocketed buyers. While a solidadvance can be justified on the basis of a robust local economy, such a para- 20 bolic rise in prices signals the presence of buyer over-exuberance in Vancouver’s single-detached… Read more »
Boombust
Guest
Boombust

Otherwise known as a “blow off top”.

Oracle
Guest
Oracle

You are absolutely correct in this. My concern is that this correction may already be over as McCallum is soon ready to release the big immigration news. People will jump on this…

I was hoping this correction lasts until May.

Boombust
Guest
Boombust

OVER? Don;t be daft. It has just begun.

Boombust
Guest
Boombust

If the Feds under Harper (and his flunky Finance Minister Flaherty) hadn’t goosed the market back in 2008 it MAY have been a “normal correction” that had come and gone by now. Too late for that now, though.

/dev/null
Member
/dev/null

But Ownership Cost has interest rates baked into it, doesn’t it? So to keep the ownership cost at the current only-slightly-elevated level, what happens to prices when interest rates rise by a few % points. Doesn’t median income have to rise, or prices have to fall, to keep everything steady state?

Its_the_ALR_stupid
Guest
Its_the_ALR_stupid

If interest prices rise by a few percentage points then my predictions will fail miserably and prices will fall by much more than 10-20% (and, incidentally, I hope they do).

But as I said before, I always make a distinction between what I want to happen and what I think will happen. And every indication I currently have says that interest rates are staying low for a very, very long time.

Boombust
Guest
Boombust

Low rates = high prices OR High rates – low prices.

Either way, it amounts to the same thing. And a major correction in both cases eventually.

Bear Vancouverite
Guest
Bear Vancouverite
While an excellent chart, the data collection methodology seems very misleading for condo “affordability”. I’ll focus my discussion on newer inventory since developers and real estate pundits are always discussing about creating more inventory to address affordability. Currently the Cambie Corridor starting at 25th&Cambie is undergoing massive redevelopment and densification (all good things in my books), but Condos are selling in the range of $900-1200 per sq ft. Granville is selling undergoing similar redevelopment and is selling Townhouses in the range of $900-1200/sq ft. I’m aware of some redevelopments planned on 41st and South Cambie planned to be $890-1050 / sq ft. This means new inventory being created, such as a 750 sq ft 2BR 2 BATH, will cost you at least $675k, or 8x the average Vancouver household income, and more likely to cost closer to $800k for such… Read more »
southseacompany
Member
southseacompany

“Banks tumble with interest rates, leading a US stock slide”, Montreal Gazette

http://www.montrealgazette.com/business/health+care+bank+stocks+pull+indexes+lower/12225192/story.html

“U.S. stocks are slumping Monday and banks are taking the biggest losses. Shares of Deutsche Bank hit an all-time low and interest rates are moving lower.”

“Banks were also hurt by falling bond yields, which mean lower interest rates and smaller profits on lending. “

bullwhip29
Guest
bullwhip29

keep your eyes on japan too where walls are finally closing in on themselves. global banking system was not fixed in 2008-09 as many incorrectly believe (or were told by their advisers). this is one of the primary many do no want to get stuck holding worthless cash when the SHTF

Oracle
Guest
Oracle

Its_the_ALR_stupid:

You see my predicament? I try to point out to the bears what you just pointed out and i get labelled a “pumper” of RE.

IMO, if you are looking to buy. Buy before April if you think the Liberals are going to win. If you think the NDP are going to win, then next August might be a good time to buy. If you don’t have enough money, then i suggest buy a condo in the city and a detached further out in the valley as insurance. I know a lot of people that have done that, thereby pushing Abby detached prices into the $650K range.

Its_the_ALR_stupid
Guest
Its_the_ALR_stupid

As I mentioned earlier, my plan is to look at MOI (and its direction) and make my buying decisions accordingly.

But that’s IF I decide to buy at all. I’m also thinking of leaving the city entirely. Like most posters here I am not happy with the high prices in this city, especially for detached houses. I am pretty sure I could just “buy the dip” and make a fortune when prices go up again, but being old school I kind of despise unearned wealth and would prefer to live in a city where people have a moral preference for making money by creating things, not by sitting in a house doing nothing. I don’t want to be a part of that.

Boombust
Guest
Boombust

Stupid is as stupid does, I suppose.

Boombust
Guest
Boombust

Great. Now they can buy that coveted Spanish Magic bedroom set and the avocado washer and dryer combo at a nearby garage sale. They probably won’t have much left over for anything else.

No Money Down
Member
No Money Down

Peter Ladner essentially nails it.

“Because we let this bubble get so big, shrinking back to a healthy real estate market more aligned with local incomes is going to be painful”

https://www.biv.com/living-working/#exploring

Boombust
Guest
Boombust

Hey, just open a telephone book at random in Tokyo and they’ll tell you it can happen, alright.

Oracle
Guest
Oracle

in a place with zero immigration and declining population.

Sure it WILL, not just “can happen”.

Boombust
Guest
Boombust

Okay then, Open a phone book in Dublin , Miami or Phoenix.
“Hello? You don’t know me, but…”

supersogs
Guest
supersogs

Not sure if this has been previously posted but good analysis and site to follow:

http://vancitycondoguide.com/what-is-happening-to-sales-prices-in-vancouver/

Boombust
Guest
Boombust

It;s “what’s happening” alright. Oracle? Over to you.

Bear Vancouverite
Guest
Bear Vancouverite
Here’s an interesting quote from the comments: “I’m an agent in a high end neighbourhood in North Surrey where 90% of buyers are Chinese. In a typical month over the last year there were 40 to 45 sales. In the last 30 days there have been just 6 sales. Are the prices coming down? Well, yes and no. During the boom asking prices were almost always artificially low to attract multiple bids. You would list a home for 900k or 1 million and it would sell for 1.1 or 1.2 million. Now homeowners are listing for closer to where the actual market range is knowing there likely won’t be multiple offers. Compared to the low list prices of before prices are still up. Compared to the old sale prices then prices are down.” Btw the article is also very interesting,… Read more »
vangrl
Member
vangrl

Agent makes no sense. He’s looking at listing prices to give an answer on selling prices. Just tell us what they are selling for.

No Money Down
Member
No Money Down

“Compared to the old sale prices then prices are down.”

southseacompany
Member
southseacompany

“Lab research shows inflation may be all in your mind: Don Pittis” CBC News

http://www.cbc.ca/news/business/inflation-economy-stephen-poloz-1.3775838

“Consumers try to interpret or outguess central banks’ interest rate predictions”

“The traditional theory — one that many still ascribe to — is that low interest rates make money cheap. Then people feel free to borrow, invest and spend, thus strengthening the economy. That drives inflation up.”

” If inflation is created in our mind by our expectations, then last week’s comments by Poloz that retirees should expect interest rates to be “lower for longer” will just make people, especially those saving for retirement, clutch their money more tightly.”

Billybonger
Guest
Billybonger

Okay, so….

Oracle now says he was WRONG about listings (dramatically, imho…like an off the charts epic miss) but he is right about everything else.

Sounds like he went to Trump University to me.

Boombust
Guest
Boombust

Well they Do say now that various fault lines in Ancient Greece spewed up gases so that people in many of the oracles were therefore “not in their right minds” and spewed gibberish as a result.

Billybonger
Guest
Billybonger

Good point

Here is Oracle telling it like it is…yet his main quantitative forecast is looking like he is completely out to lunch.

Ya I was wrong but trust me anyways?

Trump University 101.

Confucius
Guest
Confucius

The Oracle posting count indicator is off the charts. The market must be crashing hard.

Boombust
Guest
Boombust

I do believe that; he is working overtime trying to re-inflate it with the same “oracle-like gibberish” heard in ancient Greece.

Or, maybe he’s a Holy Roller speaking in tongues?

Plato
Guest
Plato

Amature buiders in surrey are starting to realize they are fcked. Leveraged up with mortgages and auto loans. Somebody gonna get hurt real bad.

Boombust
Guest
Boombust

Source?

Plato
Guest
Plato

Speak with any of the private mortgage lenders in Surrey they will tell you lots of fear that the chiney (chinese) are gone. Many left wondering who’s gonna buy them now?

Boombust
Guest
Boombust

The locals at prices which are in line with their actual incomes? Sounds like “a plan” to me.

paulb
Member
Active Member

New
306
Price Change
83
Sold
142
TI:10,019

http://www.paulboenisch.com

BubbleTea
Guest
BubbleTea

Happy 10,000 Vancouver! So much for your 7,000, Oracle.

Plato
Guest
Plato

15000 by July, i’m calling it.

Boombust
Guest
Boombust

Far more than that, my friend.

Ktown
Guest
Ktown

Going to need alot more than 10k to swing things around.. i do think next month we should see a good jump though. Even 1k a month more would be great.

Ktown
Guest
Ktown

On the other hand i do believe oracle will be listing his half built sawdust shack hoping for a quick sale before it bankrupts him.

Oracle
Guest
Oracle

Thanks for the price change data !

vangrl
Member
vangrl

damn I read the price changes as sold at first, that was exciting for a second

Best place on meth
Guest
Best place on meth

It’s fight night!

Oracle
Guest
Oracle

Trump killing it. Hillary has no plan.

Oracle
Guest
Oracle

I’m still calling for prices to hold up meaning they won’t dip below 12 month ago levels. If they do, I’ll buy another detached home.

The 10,000 listings level has been breached. This was a list signal for many realtors. I expect inventory to quickly go up to 11K. If prices start dropping and panic sets in, we might (probably not) see October 2015 prices.

And I do change my views based on changing data. I’m not a Garth T.

vangrl
Member
vangrl

why was 10K a list signal? why wait for inventory to build before listing? weird

vangrl
Member
vangrl

aha I get it, lower inventory means prices may keep going up, when that stops then it’s time to sell that sucker

Oracle
Guest
Oracle

Many realtors are in the speculation game themselves; owners. One thing that may unsettle them is the 10K breach.

Whistler or Bust?
Guest
Whistler or Bust?

Oracle I think you offer some good points here and you take more than your share of abuse. Further, the number of bulls seems to have declined here so its good to hear the other side.

That said, if you believe that the average realtor has a “list signal” like a 200 day moving average or the like you are nuts. 99% are sleazy sales people who will do anything (including ripping off their clients) to make a sale. They have no more knowledge of the market (actually less) than anyone on here and have no tools whatsoever to affect a sale. (Other than to tell their clients to lower their price)

Shut It Down Already
Guest
Shut It Down Already

So you think that when inventory was low realtors were somehow holding listings back, even though number of realtors per listing was at an alltime high and many needed the work?

vangrl
Member
vangrl
Bear Vancouverite – Not sure you should base your decision on what others are planning on doing. I’m in no hurry to buy, and I really don’t (truly) mind renting. I’ve owned property a few times over my life, so it’s not really a goal to “get into the market”. For some it’s forced savings, not to mention massive leverage opportunity, so their (or your) decision may be more based on that? Saying that, if prices came down to a price that made more financial sense to buy than to rent then I would definitely consider buying. I think these crap properties that sold for $1.5M on the East Side could fall pretty hard. I think many of them were bought by small time developers looking to flip, and that party is over. If they start falling then watch out… Read more »
Boombust
Guest
Boombust

Condos are cooling fast; they are being bought by a lot of young newbies who haven’t gotten “the message”. Yet.

Bear Vancouverite
Guest
Bear Vancouverite

Condos appear pretty active to me. I think a few new developments coming online for presale will be a nice litmus test. Primrose on Cambie for instance. I think the case can be made that Condos are truly overinflated while SFH’s might have more stickiness in pricing sheerly due to limited inventory.

Like you and Patriotz I’ve been a owner, renter, landlord, multiple times. I prefer owning and prefer not being a landlord, except maybe indirectly in an REIT.

Cheers.

vangrl
Member
vangrl

If you’ve been in the game numerous times then maybe you are in a position where rates don’t matter, you may even be in a position where you wouldn’t need a mortgage at all.

If that’s the case then the decision is much easier to figure out, the only thing that’s hard are your emotions around it, and we can’t answer that part of the equation.

vangrl
Member
vangrl

To clarify, I meant the decision based on the financial side of things.

Bear Vancouverite
Guest
Bear Vancouverite

Alas you give me too much credit. unlike some, I cannot buy a house with cash.

Oh NO
Guest
Oh NO

East side houses down 20% FACT

Boombust
Guest
Boombust

Referring to prices? If so, yes.

Boombust
Guest
Boombust

With regard to month over month sales from August, sales are down almost 50%.

vangrl
Member
vangrl

lots of reduced, that’s for sure
https://www.zolo.ca/vancouver-real-estate/page-4

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