Friday Free-for-all! September 9th 2016

It’s the end of another work week and Friday is here, that means it’s time for another Friday Free-for-all!

Here are a few recent links to kick off the chat:

Refinance before it’s too late
More bubble warnings
The purple hill of 2016
Toronto is the new Vancouver
Buying high or low?
A collapse in the blogger bubble
Affordability vs supply

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Sort by:   newest | oldest | most voted
patriotz
Member

Seizures of undeclared cash spike at Vancouver International Airport

Earlier this year, B.C.’s Liberal government rejected a bill tabled by Mr. Eby’s party aimed at taxing foreign capital in Metro Vancouver. That bill called for increased property taxes for home owners who do not pay income tax in British Columbia.

So for everyone asking what the NDP’s solution is, this is it. And they’re right. Notice it would apply to all parties considered part of the problem – foreign buyers and immigrants including Quebec IIP.

Best place on meth
Guest
Best place on meth

“Mr. Kiselbach added that CBSA likely ramped up the scrutiny on Chinese passengers because it gives increased attention to citizens from countries deemed a high risk for activities such as money laundering and financing terrorism.”

Extra scrutiny for chinese entering Canada because they’re deemed high risk for money laundering?

That’s racist!

squeak
Member
squeak
Liver pate crime at YVR: Well, I DECLARED (simply b/c that is what we are supposed to do) a small piece of Liver Pate, in vacuum packed foil packaging, manufactured in a country that has far higher standards than Canada, and don’t feed their pigs antibiotics or hormones or other crap and treat their animals well. But Oh my God…. that was the crime of the century. The pate was confiscated. I was treated like dirt by these young male ethnic customs officers, (maybe they had taken in too much anabolic hormones… yes that stuff and drugs are very available in Canada, hint hint eh?)and yes. of course I am the typical criminal: grown up female of a country that has its shit together (not Canada) working in the health care, and don’t have any infractions with the law except… Read more »
space889
Member
space889

Too bad, Border Security is cancelled. Would love to see this.

And yes, I do sympathize. I don’t know the logic behind banning cooked meat products, aside from maybe protecting local companies? A lot of the stuff they banned is actually available as import products at your local supermarket.

Best place on meth
Guest
Best place on meth

Of course you sympathize, your idiotic countrymen keep bringing duffel bags full of foul smelling shit on their flights and then play dumb when our customs people tell them it’s not allowed.

Why are you people so shifty?

space889
Member
space889

Stay classy dude…you live longer

Combat roach
Guest
Combat roach
The most voted comment (and not censored) indicates the overall sentiment. People are slowly waking up and realizing how country got sold to the criminals. If nothing changes and starts process of recovery consequences will be devastating. Big damage is already done and once when people get up and take justice in their hands to defend their livelihood our entire society will be on the path of no return. Just a couple years back all those taboo topics related to Chinese shitshow in Canada weren’t possible to be said, published and discussed but that changed, slowly but changed. HR PuffNStuf 7 “Chinese criminals have made Vancouver a centre for money laundering. Their vehicle of choice, real eastate, is now unaffordable for average Canadians. Not “expensive”, unaffordable. Greater Vancouver has been changed forever, and not for the better. But real estate… Read more »
patriotz
Member

If most voters wanted governments to pursue policies resulting in lower prices governments would do it. The real sellouts are those home owners who want prices to go up.

Combat roach
Guest
Combat roach

Right, it is an obstacle in the process of normalization but still normalization is sooner or later inevitable. No ponzi schema in history lasted forever even strongly supported by lack of legislation or/and anti-criminal activity enforcement. Taking a big picture into account the large number of people including future generations would still have to exist in BC, Lower Mainland, Vancouver and be a part/contributors in the local economy and ecosystem. Under current circumstances this is not going to happen and I don’t see BC is becoming the next Monaco or Singapore or asylum for corrupted officials so something has to give.

HALT_YVR
Guest
Hey Patriotz, I know you’ve been a long time member here. My name is Kristian I’ve lurked here on VCI for many many years. I’m now with a group called HALT (Housing Action for Local Taxpayers) and we are trying to promote a Housing Rally we’re putting on this weekend. I see someone mentioned it buried the a comments on this thread but I’d like to try and get something a bit more visible up for VCI members. Given the level of frustration people on VCI feel about Vancouver housing we feel this rally will be of interest to them. We’re trying to continue pushing government into action on fixing the mess that is this housing market. I tried creating a post but it got stuck in moderation. Do you know who is the admin on VCI these days or… Read more »
DK5000
Guest
DK5000

That is an excellent proposal. It is actually similar to what some States have in US like Texas: No income tax but a large property tax.

Dan
Guest

Ban all foreign home ownership in Canada now! You want fast results, none
quicker than this…Mr. Eby we’re waiting.
Ďan

yvr2zrh
Member
Greetings from sunny Vancouver. Just a quick comment that is important to understand in the current statistic dynamic. We are now seeing the volumes come down even more (in the past 2 weeks). In my conversations on the streets of Vancouver – people actually want a crash and don’t care (but some of my friends still like to say – “but my place will be fine because it’s so nice and in a desirable area”). One interesting statistic is the overall average price. This has now been going back up in the past 2 weeks – (average including condo/detached). What this is showing now is that the condo sales are starting to fall fast. The message is out that this market has risks and buying now is not needed and probably risky. So – as the condo sales now start… Read more »
Bbbbb
Guest
Bbbbb

‘Wanting’ a crash and changing policy to enable a crash are 2 different things son. Besides 15% tax, other policies moving ahead full steam to boost housing.

UBC in Crisis Mode
Guest

Good observation. This half-built house has been abandoned for months:
http://www.realtylink.org/prop_search/Detail.cfm?areatitle=&ARPK=&ComID=&agentid=&MLS=R2028601

Bbbbb
Guest
Bbbbb

Trudeau just lifted the limits on percentage of TFW’s employers can hire. No more 20% of total for large companies. Can now be 100%.

Best place on meth
Guest
Best place on meth

Oh yeah? Where did you read that?

There are 2 separate TFW programs, so which one are you referring to?

Newcomer
Member
Newcomer

Well, that will have a big impact on the market. You know what those temporary foreign workers are like, always the first to snap up million dollar condos in Vancouver.

YVR
Guest
YVR

One thing to note about inventory is it is made up of two categories. Sellers who want to sell to exit the market (investors, people moving out of province, death, developers) and sellers who are trading up in the same market. The move up buyer inventory is neutral because if it sells they will buy. It is the inventory which is made of those that want to exit the market that puts the downward pressure on prices. Due to the crazy market the move up buyers have all but left. My guess is most of the current inventory is those who want to exit.

Boombust
Guest
Boombust

The buyers are getting scarcer; many have moved to the nether regions of the Fraser Valley or to Interior, etc.

Bbbbb
Guest
Bbbbb

You son are too funny. You really think this site moves markets with less than 100 unique visitors?

Boombust
Guest
Boombust

No one ever said it did, Dad.

Ktown
Guest
Ktown

Your an arrogant peice of trash Bbbbb. Who raised you to speak to people like that?

space889
Member
space889

BPOM?

Best place on meth
Guest
Best place on meth

Victor?

southseacompany
Member
southseacompany

“Data suggests Vancouver housing supply isn’t the issue, affordability is”, Globe & Mail (paywall)
http://www.theglobeandmail.com/real-estate/vancouver/vancouver-housing-supply-isnt-the-issue-affordability-is-data-shows/article31794288/?ord=1

““The supply argument would be that population is outstripping housing development,” Mr. Yan says. “What we are saying here is that no, it hasn’t. Housing development has reached a certain production level that’s been pretty consistent over the last 10 years, with the exception of 2009.””

southseacompany
Member
southseacompany
Full article: “New data show that simply throwing more supply at Vancouver’s affordability problem will not solve the housing crisis. Instead, we need supply that is directly targeting the needs of residents – and not wealthy buyers who aren’t earning incomes locally. Too often, the argument for supply focuses on a shortage of housing units as a response to increased demand. But if we are to look at the number of housing units being created and the net population growth that is occurring in the region, supply in itself is not the issue. There is an average of 35,842 newcomers into Metro Vancouver every year and 16,332 housing starts. That means for every unit of housing started each year – purpose-built rentals included – there is an average of 2.4 people arriving in Metro Vancouver. That’s a lower ratio than… Read more »
patriotz
Member

What we need is tax policies that discourage the wealthy who aren’t earning incomes locally from buying in the first place. Then supply and demand will take care of themselves.

southseacompany
Member
southseacompany

For those interested:
“Mapping the Hedge City — Vancouver and Global Capital”
The First Annual Larry Bell Urban Forum
Friday, September 23, 2016, 5–8:30 pm
Room 1900, SFU Vancouver (Harbour Centre), 515 West Hastings Street
Regular Admission: $5. Buy tickets on Eventbrite.
Webcast: Free but reservations required. Reserve for webcast on Eventbrite.

https://www.sfu.ca/continuing-studies/events/2016/09/mapping-the-hedge-city.html?utm_campaign=city&utm_source=mailoutinteractive&utm_medium=email&utm_content=2016-09-07+mappinghedgecity

Billybonger
Guest
Billybonger

There have been a dozen or more false starts on interest rates in past couple of years.

But…bond investors have recently begun to lose $ as yields drift modestly higher.

Wouldn’t shock me to see $ tackle out of bonds, if that happens we can add higher interest rates to the mix.

See the headline in Vancouver sun about thebchinese coming to try to seize ill begotten funds? And money at airport, etc….seems to me the conversation is changing.

Still, Oracle made that 7,000 inventory prediction for this month, so if he is correct then perhaps the bull resumes…

Dave
Member

I went short bonds about a month ago and had a good day with that trade today.

Although I am short, it’s only temporary because the long term trend is down. I sell when prices hit resistance. I would then go long bonds again because that’s still the trend.

At some point this has to all unwind. I think it’s way too early to call this the bottom. We are dealing with a multi decade trend here so who knows how it plays out and when. Not me.

donald t
Guest
donald t
donald t
Guest
donald t

Under the mattress is safer. This new increase the supply of W. Van homes by 10%? Or Buy Mclarens at least they are movable.

donald t
Guest
donald t

Or try scaffolding companies to hide the house.

Best place on meth
Guest
Best place on meth

“Based on the case, Duhaime says she has obtained information from China alleging that “billions of dollars” of bank fraud proceeds are invested in B.C. real estate.”

What a fucking cesspool this city has become, full of china’s kleptocrat trash while Christy and Garth kept denying, denying, denying that offshore money was driving up prices.

Garth is a god-damned traitor for giving cover to the money-laundering scum invading us by the tens of thousands, constantly using the race card like the lowlife he is.

Vancouver has been utterly trashed and working class people can’t afford to live here anymore, this place is a tragedy and a travesty.

BubbleTea
Guest
BubbleTea

Until the issues are solved, ban all mainland chinese immigrants, not open wide the flood gate like JT just did.

Combat roach
Guest
Combat roach

That would be an ultimate solution at this stage and real sovereign country with matching government would gladly do it to protect its own freedom, democracy, security, independence and integrity.

chilled
Member
chilled

Turncoat Turner is a sack of self serving shee-ite and I have been pointing this out for years. Ya gotta admit, it is fun reading the comments from the Turner eco chamber blog, laced with self proclaimed Warren Buffets stroking Garthy every time they get a chance.

Billybonger
Guest
Billybonger

Seems to me the heat is being turned up.

space889
Member
space889
@tim – well after years of reading comments along the lines of: 1 – waahhhhh….it is so UNFAIR I can’t get a high paying job and buy that Westside SFH for 3x or less my income like my parents did 2 – it is all those stupid home owers fault for being stupid and borrow their brains outwit no downpayment and loose lending standards, while I saved and played by the rules 3 – fing locust scum, they are all scumbags with their corruption money and lies and cheats. They drove prices up and it all their fault! Kill them ALL! 4 – I can’t wait for the crash so I can finally go I told you so to those moron friends, relatives and MIL,pass the popcorn cuz the show is about to start and I’m going to enjoy the… Read more »
elvince
Guest
elvince

5-Waaah, I left 5 years ago when this market was already crazy, I’m still taking a look from time to time, and I might even come back if prices go down to a sane level, but I’m otherwise happy where I am.
6-(that’s me) I’m never stepping in this cesspool of insanity. 10 years ago (was in my 20’s then) I had some interest for buying a condo for my retirement, but now I see that just about everywhere on earth where the weather is nice can offer me a better quality of life. Nothing to do with race, everything to do with the fact that I can get a mansion in Spain, California or France for the price of a crappy VanSpecial.

Billybonger
Guest
Billybonger

Space,

Would it be safe to assume that you agree with Oracle’s forecast of 7,000 listings by the end of this month?

donald t
Guest
donald t

no, not safe.

space889
Member
space889

No. I think both inventory and sales will pick up after the new years, or even earlier once the highly paid lawyers, tax accountants, RE firms figure out a way around the tax legally.

Heck, I think we will see increasing number of deals where the home will be purchased using numbered companies like commercial RE to save on the transfer taxes.

Combat roach
Guest
Combat roach

There you go, Chinese mindset speaks…

“…firms figure out a way around the tax legally.”

AngryLemming
Guest
AngryLemming

Tax avoidance is one of the first things they teach you in econ 101 at our local college/universities.

Bear Vancouverite
Guest
Bear Vancouverite

Many commentors here and on other sites have said the same thing and were upvoted but when space889 gives his opinion you suddenly attack him.

space is basically saying the same thing many of us bears have been saying: the foreign money will try to find a way through. We need to close more loopholes. Do you disagree?

space889
Member
space889

So you always pay the max income tax you should pay? never take any tax deductions or tax credits that’s allowed by law?

And here I thought I was preaching some Canadian values since Garth Turner certainly approved of tax avoidance and he is former revenue minister.

Bear Vancouverite
Guest
Bear Vancouverite

There’s a big difference between taking tax deductions and trying to find loopholes around taxes. I hope you can see how one is acceptable to Canadians and the other is unethical or at least ethically grey. There’s a lot of the more sophisticated tax planning that millionaires do that are considered questionable even if they are “legal”.

To me the key difference is intent of the individual and the spirit and intent of the law.

patriotz
Member

“the home will be purchased using numbered companies”

The NDP proposal which I put at the top of the thread would take care of this. There would be a property tax penalty added to the house if the numbered company doesn’t pay income taxes.

Also note that a property owned by a company is not eligible for the principal residence exemption and it treated as a taxable investment, even if the owner of the company lives in it. Most rich people own their houses in their own names, for good reason.

HAMster
Guest
HAMster

CKNW – Simi Sara today discussing cash seizures at YVR; of $8 million sized this year, $6 million was from Chinese. People calling her were very irate about this situation. She interviewed David Eby who wants to go after people who live in million dollar houses and declare no income by raising their property taxes and callers were all in favor of that. It seems we are reaching a tipping point in dealing with these Chinese money laundering crooks. This issue is no longer being swept under the rug of political correctness.

space889
Member
space889

But think of the poor boomer retirees who can’t afford the new higher property taxes!!! Or all those poor poverty advocacy people who might be out of a job once it is found that a lot of their clients are Richer Than They Think! ™

Best place on meth
Guest
Best place on meth

Pensioners who have paid income taxes for 40 years would obviously be exempt.

This tax would be aimed at shifty, lying, thieving, tax-dodging chinese scum.

You know, your people.

space889
Member
space889

If you have no income then how / why do you pay income tax? Unless you like x% of $0 is not 0?

CRA are certainly finding lots local shifting, lying, cheating scums, and I bet a good majority are probably non-Chinese. Might even be your people and they are doing it at a rate of $300+/hr.

Brian Ripley
Guest

re” Toronto is the new Vancouver”

Not quite. My updated chart on Vancouver vs Toronto housing: http://www.chpc.biz/compare-toronto–vancouver.html

Absorption rates are literally off the chart in Toronto while they are heading to the basement in Vancouver. And the GTA has almost 4 times the number of residential sales than Vancouver. Household earnings are less in Vancouver and there is almost 2.5 times more people in the GTA who are a lot closer to Federal purse strings.

/dev/null
Member
/dev/null

Interesting to see the price changes are starting to appear again and they’re dropping this time (often I would see price being raised $100-$200k which seems an interesting strategy to me). Now there are a couple of changes every day for $100-$200k drops for houses on the west side in $2M range. Just a few but it’s a change in the trend. Maybe just the time of year though…

e.g.
MLS® R2098231
Current Price $1,998,888
Original Price $2,498,000
Aug 30/16 $2,198,888
Aug 5/16 $2,498,888

And perhaps someone can explain to me this pair of half-duplexes:

MLS® R2098952 and MLS® R2098951
both say:
Current Price $1,688,000
Aug 8/16 $2,698,000

Can I assume they were being sold as a pair for $2.7M and now separately for $1.7M each (i.e. big price jump)?

Best place on meth
Guest
Best place on meth

One sale on the west side yesterday, but it was for $15.6M, that should pull up the average for the month considering how few detached sales there are right now.

Drummond Drive, possibly another “student”.

Combat roach
Guest
Combat roach

Or “cousin”…

Bob
Guest
Bob

Question for readers of this forum. When the Chinese applicant apply to come to Canada, it is usually the man (breadwinner) of the household. He then sets up housing for his family and stays in China to work and his family declares no income in Canada. Can Canada not go after him for taxes because his name is on the application.

chilled
Member
chilled

Revenue Canada is way too busy shaking Canadians down for serious things like moving expenses, medical deductions and other irregularities which may amount to an additional $100 or so taxes due.

tim
Guest
tim

They have it worked out how much they make per auditing hour, and allocate resources based on that. The “little guy” puts up less of a fight, so they make money. The CRA going after a mainlander businessman is like a beat cop from Victoria going after Hell’s Angels. And they know it. So they stick to traffic tickets, in volume.

space889
Member
space889

Didn’t SCMP had a chart where GST fraud cases yields $300+/hr in revenue? The global tax evasion is only $100+/hr revenue.

squeak
Member
squeak

And YVR customs are busy with almost tazering nice little old ladies for a small package European liver pate.

space889
Member
space889

So you are one of those people that BPOM is complaining about bringing smelly stuff over and then get upset at our custom officers telling you it’s not allowed?

space889
Member
space889

Why do you assume to be the man? The woman can’t do it? Sexist much?

What about the mistresses? How would the man apply for them?

And what evidence do you have it is the man always? Do you work in this area and have access to the files? I guess you think in China, women aren’t allowed to go to work, have advanced degrees or careers?

Combat roach
Guest
Combat roach

For example all those housewives on the west side in German cars with no income in Canada.

Best place on meth
Guest
Best place on meth

I bang 3, you bang 3.

Husbah back in china, need real man while he away, chinese man usesless in bed.

space889
Member
space889

So you believe Chinese woman can’t get advanced education, good careers, or be entrepeurers in China? That only the man can be successful and woman is only for staying at home?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Space trying to pretend he’s feminist… hahahahhahahahahhahahahahhahahahahhahaahahahhahahahhahahahahhahaahhahhaahahhahahahhahahahah

Best place on meth
Guest
Best place on meth

It’s always the man you dumb shit.

Why do you have to ask a thousand stupid questions a day like a 4 year old with autism?

space889
Member
space889

Ok, so you are officially racist and sexist too because you simply can’t believe a Chinese women can be smart & successful, and have their own careers.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Anyone who has been reading this blog for awhile knows that space has previously revealed himself to be as misogynist as f#ck. This happened at a point in time when we were discussing China’s treatment of Tibetans.

Whistler or Bust?
Guest
Whistler or Bust?

Space are you paid by the Chinese Gov’t?

space889
Member
space889

Are you paid by the Canadian gov’t?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Where are those points coming from? Who could possibly think that space889’s comment was clever?

Space, when will you ever ever learn to directly answer a question. You are constitutionally unable to I expect.

Egad
Guest
Egad

Oracle was right:

“Experts say these sums of hidden and declared money, which dwarf the funds brought through the airport from other countries, were likely carried by some of the 922,000 people from China recently given 10-year temporary visas, which allow them to visit for up to six months at a time”

http://www.theglobeandmail.com/news/british-columbia/seizures-of-undeclared-cash-spike-at-vancouver-international-airport/article31787802/?service=mobile

Best place on meth
Guest
Best place on meth

Right about what?

Someone on a 10 year visa bringing in $17K isn’t going to go far in this real estate market.

Egad
Guest
Egad

Don’t be dense. There are 1,000,000 Chinese with 10 year visas – that is astounding. They are bringing money into the country- mostly to vancouver. The cash they carry on their person is obviously not all the money they bring in. That $17,000 is only their walking around money.

Best place on meth
Guest
Best place on meth

All these people who can only stay up to 6 months of the year are going to buy real estate?

Is that what you’re trying to say?

Sorry for being so dense but you can’t make a point worth a shit.

HAMster
Guest
HAMster
southseacompany
Member
southseacompany

“Foreign buyers are not what’s driving the Vancouver housing bubble, economist says”, Financial Post
http://business.financialpost.com/personal-finance/mortgages-real-estate/foreign-buyers-are-not-whats-driving-the-vancouver-housing-bubble-economist-says

““The foreign buyer tax had very little impact on Vancouver home sales, which have been on a downward trend since February. That supports our claim that, rather than foreign buyers, it is irresponsible lending and rising domestic debt that has been driving Canada’s housing bubble.

“Vancouver sales have declined 40 per cent since peaking in February. “We would be amazed if sales didn’t fall further over the next six months,” he said.”

““The truth is that, for all the talk of so-called triggers, when they get that big, bubbles often end up collapsing under their own weight.””

Best place on meth
Guest
Best place on meth

If the tax had little impact, then why did average prices plunge $300K in one month?

Why did the top end of the market collapse in August?

Why does this incompetent clown have a job as an economist?

space889
Member
space889

Because the guy can do at least basic math and analysis whereas you can’t?

If you are a proud example of BC public eduction system, it is a sad sad day for all the teachers and BC.

Best place on meth
Guest
Best place on meth

Sorry Pope, things are about to get really fucking ugly again.

This prick is going to get a beatdown.

Whistler or Bust?
Guest
Whistler or Bust?

I agree. Its time for Space to go.

Shut It Down Already
Guest
Shut It Down Already

Welcome back again!

Bag it and tag it
Member
Bag it and tag it

I’m in Mexico City for a few days. I was having drinks with a Mexicana last night. I was discussing the issue of Vancouver RE and how Chinese buyers drove the prices up to loco levels and she quickly explained how the same thing is happening in Mex City, and she was non too pleased about it. She even used the word ‘plague’…lol

Combat roach
Guest
Combat roach

Looks like locust armada is strategically deploying their troops across the world and waiting for a signal from Beijing, lol.

Best place on meth
Guest
Best place on meth

The world is working on an extermination plan.

Nobody can stand these fuckers, just look at space – a perfect spokesman for the worlds worst people.

space889
Member
space889

Cockroaches can’t stand light, and vermins like you can’t stand the light of reason, facts, & tolerance.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

“LIght of reason”? “Tolerance” Gimme a break. Nothing you’ve ever said suggests you value those things, Space44449. If you did you would ask posters questions in an entirely different way than how you do. All you do is ask sarcastic put-downy questions, maligning every western value except that of chasing capital. If you could ever show that you had revised an opinion in light of observations made here or in light of any evidence at all, then we might begin to believe that you know what the “light of reason” is. I bet you don’t even know where the phrase comes from. Go ahead, google it.

Oracle
Guest
Oracle

1,400,000,000.

1.4 Billion Chinese.

Is that all there is for word domination? Multiply and immigrate?

Tim
Guest
Tim

Are you sure you aren’t thinking of India? China’s current demographics are Japan circa 1990.

patriotz
Member

“China’s current demographics are Japan circa 1990.”

But not their incomes. Try an order of magnitude smaller.

patriotz
Member

And you’re off on one important demographic factor. Japan wasn’t short of women.

Best place on meth
Guest
Best place on meth

China isn’t short of women, they’re short of “men”.

Saul
Guest
Saul

Ironically, there is no much hope for the most of those grooms around the world. They aren’t much in demand when it comes to the ladies.

“It’s not that I haven’t tried dating Asian men, but in my experience they are judgmental, narrow-minded, and passive aggressive.”

http://www.mr-stingy.com/asian-men-problems/

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Judgmental: thinks all renters are resentful wannabes
narrow-minded: never addresses the reasoning his interlocutors employ or dares entertains any of their assumptions
passive-aggressive: evinces his hatred of all things western anonymously on a blog; uses insinuation rather than being direct and open

space889
Member
space889

Wow, you described team BPOM so well. Just one little error, replace “renter” with “homeower”

space889
Member
space889

Hmmm….sounds like a lot of bear racists on this blog.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

You really have no clue how to talk to people, do you space?

paulb
Member

New
163
Sold
91

TI:9395

http://www.paulboenisch.com

Newcomer
Member
Newcomer

We are not seeing that rush of listings many were expecting for September. Looks like everyone is waiting for demand to recover.

Boombust
Guest
Boombust

It takes awhile for the “bubble is imploding” meme to become widespread. Most homeowners still think everything is just dandy. After all, this bubble has been going on for a VERY long time.

Only THEN will the panic begin full tilt. There will be a wringing of hands and gnashing of teeth; I guarantee it.

Newcomer
Guest
Newcomer

Maybe, but I think there is no rush for people to list. We will have to wait for spring to see if listings explode.

Newcomer
Member
Newcomer

WTF! If you are going to catfish my handle, at least say something crazy. If you’ve got something halfway reasonable to say, say it with your own name.

space889
Member
space889

Well, it’s taken what? 8 years and bears still can’t admit they were wrong yet.

Kim
Guest
Kim

People aren’t going to list until they have to.

Already I’ve seen listings pulled and re-listed, most at a modestly lower price (I’m talking less than 5%). Some, however, have re-listed at over 10% below original ask.

Best place on meth
Guest
Best place on meth

Sales just keep getting worse and worse.

Very unusual for Sept sales to be considerably lower than Aug sales.

burntout
Guest
burntout

At this rate MOI is 100 days.
= 20 weeks
= 4.5 months
We were at 3 recently, so heading in the right direction.
I suspect the high end areas are nearer 6 and the low priced areas 3

southseacompany
Member
southseacompany

“Worries about interest rates send markets into tailspin”, Globe & Mail
http://www.theglobeandmail.com/report-on-business/worries-about-interest-rates-send-markets-into-tailspin/article31807466/

“Volatility is back.”

“The rout started Thursday when European Central Bank President Mario Draghi downplayed the need for more measures to boost growth. Declines accelerated on Friday as Boston Fed President Eric Rosengren warned against waiting too long to raise interest rates. Mr. Rosengren’s comments moved him firmly into the hawkish camp, sending the odds for a rate hike this year above 60 percent.”

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