Sort by:   newest | oldest | most voted
Ralph
Guest
Ralph

Latest real estate numbers are out:

Condo prices are UP 10% YoY and also 1% MoM.

WTF NDP what are you doing???

Dave
Member

Condos are down MoM. That’s positive news for bears because that market has finally turned the corner. The big question now is how far it goes.

My expectation is that we trend downwards slowly. There isn’t any panic or fear out there yet. We’re barely into the worry stage. Sales are dead and that’s not going to change anytime soon. It’s the listings that matter now. Until we see a flood of listings, I don’t think we’re going to get the level of fear needed for a significant correction.

In some ways it’s hard to blame the NDP for higher YoY prices. They killed demand which is the only thing they could really affect in the short run. They don’t have much control over supply.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Low sales makes sales mix even more prominent in the averages. Who knows at this point if the market is in decline (as in similar properties now selling for less than they did a year ago) or if the mix has changed.

Although if you separate out 1 and 2 bedroom condos as well as 2 and 3 bedroom townhouses (ignoring the studios, 3 bed condos and 1 or 4 bed townhouses) then Zolo also indicates a clear downwards trend over the past 6 months. MOI is hardly in bear territory, however.

M-
Member
I sold my place recently (an above-average condo in Richmond), and now a better unit in my building has had to drop their asking price (per sq.ft) to what my sale price was in the spring. Other condos in my neighbourhood have dropped their asking prices to below what comparable units were selling for earlier this year. So from my perspective in Richmond, comparable condos are definitely down from the spring. There’s also a change in the sales mix, with the higher-end condo sales having slowed almost to a halt, and with developer-owned presale units in my area dropping their price-per-sq.ft to very close to the asking prices of resale condos. Presale assignment sales, on the other hand, are still asking crazy prices, and I haven’t seen a single assignment in my neighbourhood sell in the last 6 months.
Oracle
Guest
Oracle

The local Chinese community went ALL SALT at a local Surrey No Frills store. Corn was $0.14 racha and they went bonkers. Pushing to get the corn. Road Salt 2.0.

Video making rounds on WhatsApp.

Comments SIDA?

I was expecting Indians but Damn Chinese in an Indian hood going beserk hahahah

Hyper-mega-Bull
Member
Hyper-mega-Bull
Shut It Down Already (original)
Guest
Shut It Down Already (original)

Where’s the fighting exactly?

Ralph
Guest
Ralph

Surrey is becoming China. You will have competition over there.

Bag it and tag it
Member
Bag it and tag it

Chinese don’t like Indians and Indians don’t like Chinese…

Ron K
Guest
Ron K

(August 31, 2018)

Maxime Bernier: Why my new political movement? Because Canada has been hijacked

https://nationalpost.com/opinion/maxime-bernier-why-my-new-political-movement-because-canada-has-been-hijacked

Oracle
Guest
Oracle

Hopefully he wins for the sake of our nation. We must mobilize.

Best place on meth
Member
Best place on meth

Chinese Tax Authorities Join Hunt for $21 Trillion in Overseas Assets
The top story in the finance section on Tuesday morning is about the Chinese government’s hunt for hidden assets (and unpaid taxes) overseas. The article mentions Australia and New Zealand freezing accounts from customers who don’t identify if they are foreign taxpayers. It goes on to say many of the frozen accounts belong to Chinese residents, warns that more account freezes are coming and that in September, the Australian and New Zealand governments will begin sharing information with China’s tax department.

http://investinginchinesestocks.blogspot.com/2018/09/chinese-tax-authorities-join-hunt-for.html

AUS and NZ are just the first stops, they’ll come looking in Vancouver in short order.

Looks like china needs money thanks to Trump’s trade war.

YVR
Guest
YVR

“Chinese Tax Authorities Join Hunt for $21 Trillion in Overseas Assets…Australian and New Zealand governments will begin sharing information with China’s tax department.”

Where is Eby! Too busy counting $20 bills at Riverrock.

Bag it and tag it
Member
Bag it and tag it

Pretty sure this is something that could only be done at the Federal level. Where’s Boy Blunder?

M-
Member

Do you mean Mr. Dress-Up? I’m sure he’s out partying somewhere.

Oracle
Guest
Oracle

This NDP just as bad as the Liberals. All talk and smoke and mirrors.

They won’t even close Bare Trusts!

Best place on meth
Member
Best place on meth

This needs to be on top:

paulb

New
498
Price Change
155
Sold
53
TI:12439

http://www.clivestevepaul.com

Bag it and tag it
Member
Bag it and tag it

Love the double entendre ‘Happy Fall’ headline.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

It’s also doubly ironic because fall doesnt actually begin for another couple of weeks and people here have a rich history of calling the start of price drops prematurely.

YVR
Guest
YVR

Wow are we at 12k inventory in September! Never thought we would see such massive inventory number. Anyone remember when the last time we had 12k inventory? Surely this must mean the NDP are doing a great job.

Oracle
Guest
Oracle

Hahaha. Please stop.

I’m torn whether to vote yes or no in the PR referendum. I want to punish the liars in power right now with a NO but that also means no hope for a new party to rise and get 5% of the vote. .

Screwed
Guest
Screwed

The inventory still decreasing… why?

Oracle
Guest
Oracle

That damn Oracle guy is such a idiot! How dare he call the top in inventory a few weeks back. How dare he thinks he knows.

Youre welcome folks.

And I figured out why valley prices rent falling as fast as Vancouver prices. I’ll post that in a few days.

Specuskeptic
Member

That new listing number is a bit, um, high….. Interesting as a one-off.

franko
Member
franko

Awesome numbers!

Specuskeptic
Member

Month-end expiries.