Vancouver Sales hit 18 Year low

If you were hoping 2019 would kick off with a booming real estate market… well, it’s not going so well.

“After three or four years of a very robust market and escalating prices, this certainly seemed to be a year of transition. We went from more of a sellers’ market, to a balanced market, and now — a buyers’ market.”

The drop in benchmark price for a detached home accompanied a drastic slump in sales, year-over-year.

The total number of homes sold across Metro Vancouver in 2018 dropped 31.6 percent from 2017, with 24,619 transactions.

That’s the lowest number recorded in the region since 2000, and 25 percent below its 10-year average.

Read the full article here.

272 Comments on "Vancouver Sales hit 18 Year low"

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MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Let the blood bath begin.

So far we have only seen minor damage. I fully expect by summer our market will be in a full scale panic! Soon their will be cries to the Govt to protect the poor person ‘who only wanted a place to live’

Doomcouver
Guest
Doomcouver

99% of people that bought recently and say they “only wanted a place to live” are lying to themselves. What actually happened is they got a serious case of FOMO and thought owning housing was a golden ticket to future riches. That’s the only way someone could justify participating at current prices (unless they’re just filthy rich and don’t care what prices do, but that was an increasingly small demographic). If they actually believed housing would be worth 50% of what it costs now they’d have rented, moved away, or lived in a van down by the river.

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

Hilarious, you already celebrated your successful prediction of the crash a couple of years ago, remember? You disappeared for a few months after getting into a drunken rage, then only came back to tell us how smart you were.

Laibach
Member
Laibach

James Stack, who predicted the 2008 real estate crash and nailed last year’s housing slowdown with uncanny timing, is back with some bad news for 2019.

“Housing could be heading for its worst year since the last housing crash,” Stack, 67, said in a phone interview. “Expect home sales to continue on a downward trend in the next 12-plus months. And there’s a significant downside risk to housing prices if a recession takes hold.”

https://www.bloomberg.com/news/articles/2019-01-07/housing-bear-who-called-2018-slowdown-sees-worst-yet-to-come?srnd=markets-vp

southseacompany
Member
southseacompany

“City of Vancouver Detached Home Prices Drop 10% in December”, Vancouver Condo Guide

https://vancitycondoguide.com/city-of-vancouver-detached-home-prices-drop-10-in-december/

“The official MLS benchmark now shows prices (for detached within the CoV) have declined 10% from last year. However in certain pockets and at certain price points some detached homes are down as much as 25%.”

Harry Wang
Guest
Harry Wang

48% of Canadians say Immigration is causing Canada to change in ways they do not like. Up from 41 %.

https://globalnews.ca/video/4819382/canadians-hardening-stance-on-immigration-ipsos-poll

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Just the begining.

Does this mean 1 in 2 Canadians are racist?

I’m sure our nameless spitting mad traitor troll will tell us.

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

You seem to be infatuated with me so I’ll assume this was a sad attempt to get my attention.

Trust me, most of those 48% would be appalled by the racists here (and their dumbass groupies).

You and your ilk will always be the minority no matter how desperatrly you wish to present your toxic views as normal.

Best place on meth
Member
Best place on meth

Nobody trusts you. You’re a liar and a hypocrite.

By the way, you made a typo. I won’t mention the slurs.

YVR
Guest
YVR

“I’m sure our nameless spitting mad traitor troll will tell us.”

“You seem to be infatuated with me”

LOL. At least the loser knows his name when he is called.

Oracle
Guest
Oracle

Hahaha.

SIDA owned again. Lol. Way out of his league.

Advice for SIDA: your debating sucks. So don’t. Instead Try to sell Huawei phones and then try to hack Canadians.

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

You’re right, Oracle. Yet I still don’t need to stoop to personal threats or sock puppetry.

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

Dumbass, I made that clear in the part of the sentence you omitted from your quote. You got excited and threw yourself at the keyboard again, didn’t you?

YVR
Guest
YVR

“Trust me, most of those 48% would be appalled by the racists here”

You are the racist who spews hate towards Canadians and Americans. Trust me, all of those 48% wish you never came to Canada and wish you would leave. Just like everyone around here.

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

Quote me on that alleged hate spewing or admit you’re a liar. You’ll achieve neither.

It’s cute how you dickheads use such polls to try and pretend that your sick opinions are shared by a much larger group. News flash – they’re not.

And yes, I’m totally aware that posters here wish I would leave. Well done for pointing that out, though, I fear I might have otherwise been oblivious to the fact.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Ding ding ding!

We have a loser!

Best place on meth
Member
Best place on meth

Nice baiting, Whistler.

The thing answers to troll as well, it just can’t help itself.

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

You think that I’m somehow not thrilled at the prospect of being despised by racists?

YVR
Guest
YVR

“more Canadians are increasingly alarmed by the growing number of immigrants entering the country”

The part is we don;t need a wall. We just need a new PM.

YVR
Guest
YVR

The nice part

Laibach
Member
Laibach

In Canada, we haven’t seen anything yet how far innovation and creativity can go…

Passengers and even bus drivers duped as 45 fake bus stops appear in the Chinese city

https://www.scmp.com/news/china/society/article/2155275/passengers-and-even-bus-drivers-duped-45-fake-bus-stops-appear

Laibach
Member
Laibach

Will rising debt and borrowing costs send the province (and the country) into a housing crisis?

https://www.bcbusiness.ca/Property-Watch-Housing-Crisis

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

Probably some of same reasons you choose to live where you do?

Shut It Down Already
Member
Shut It Down Already

You’re still pretending to be me? Get fucked faker.

paulb
Member
Active Member

New
312
Price Change
84
Sold
60
TI:9669

http://www.clivestevepaul.com

BubbleTea
Guest
BubbleTea

Here comes the inventories.

Best place on meth
Member
Best place on meth

Kids are back in school.

Let the listings begin!

Doomcouver
Guest
Doomcouver

It’s never too early to teach your kids how to attempt to panic-sell an illiquid asset in a down market.

Best place on meth
Member
Best place on meth

This should be taught in public school instead of which bathroom is the right correct one to use. Nothing on personal finance whatsoever.

Make the Vancouver School Board great again!

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

What would you know about education?

Best place on meth
Member
Best place on meth

I know that universities these days produce awful people like you.

Well, it started with bad parenting but the indoctrination camp finished you off and made you utterly useless to society.

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

You’re going to wish you had an education when you’re eating cat food during retirement, unemployable racist.

Laibach
Member
Laibach

Yep, there is enough of shit…

“Perhaps it is time to stop viewing this part of the world solely as the golden goose that will pad (or even save) the western economy, and instead for what it truly is: a region governed by the Communist Party of China, which has little regard for human rights in search of world domination.

Maybe that’s more important than buying and selling cheap stuff.”

https://globalnews.ca/news/4813346/scott-thompson-china-not-the-nice-customer-we-thought/?utm_source=Article&utm_medium=Outbrain&utm_campaign=2015

SilentBob
Guest
SilentBob

“This after a Huawei CFO, who awaits extradition to the U.S. for misleading banks about transactions linked to Iran violating sanctions against that country, is out on bail and living in her Vancouver mansion.”

In one of her two Vancouver mansions (that we know about).

Memento
Guest
Memento

A care card together with a permanent resident card of Huawei CFO was shown to the media during her arrest. She owns property in BC and her kids have been going to school in BC too. That makes her a deemed resident for Canadian tax purposes according to the law. Why is no investigation made by the media to see if they ever paid any taxes here other than milking our healthcare system , who knows we might discover that the CFO has been collecting welfare too.

southseacompany
Member
southseacompany

“Vancouver Detached Real Estate Wipes Out Almost 2 Years Of Price Gains”, Better Dwelling

https://betterdwelling.com/city/vancouver/vancouver-detached-real-estate-wipes-out-almost-2-years-of-price-gains/

“The price of a typical Vancouver detached home is dropping. REBGV reported a benchmark price of $1,479,000 in December, down 1.4% from the month before. Prices are now 7.8% compared to the same month last year.”

southseacompany
Member
southseacompany

“More people are going broke in Canada as interest rates rise”, Financial Post

https://business.financialpost.com/personal-finance/debt/more-people-are-going-broke-in-canada-as-interest-rates-rise

“The number of consumers seeking debt relief jumped 5.1 per cent to 11,320 in November from a year earlier, the Ottawa-based Office of the Superintendent of Bankruptcy reported on Jan. 4. October and November combined saw 22,961 consumer insolvency filings, the most for those two months since at least 2011”

Hyper-mega-Bull
Member
Hyper-mega-Bull

the most since 2011? rates were lower in 2011. so how can someone conclude that the increase in rates is responsible for the increase in bankruptcies? seems like there is more than one variable involved or there is a lot of variance and there isn’t a clear trend at the moment.

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

Somebody who bought near the peak no longer has the option of selling either in a reasonable timeframe or at a price which will cover their losses.

Canada is for Canadians
Guest
Canada is for Canadians

Chinese woman becomes fireball ….

https://www.scmp.com/news/china/society/article/2153573/chinese-woman-becomes-fireball-power-bank-explodes-bus-driver

This is pretty funny but I gotta say the bus driver really kept his ‘cool’. If this happened in Vancouver there would be a massive emergency response and traffic would be tied up for hours.

bullwhip29
Guest
bullwhip29

from Jan 4:
The head of a delegation of Canadian parliamentarians heading to China this weekend says the detainment of two Canadians is not on the agenda for discussion with Chinese officials
https://globalnews.ca/news/4815410/canadian-parliamentary-delegation-china-detainees/

bullwhip29
Guest
bullwhip29

and then this from today…
Canadian officials meet with detainee Michael Spavor in China for second time
https://www.ctvnews.ca/politics/canadian-officials-meet-with-detainee-michael-spavor-in-china-for-second-time-1.4244845

bullwhip29
Guest
bullwhip29

and for your daily dose of comedy…

Trudeau enlists Trump to seek release of Canadians detained by China
https://www.thestar.com/politics/federal/2019/01/07/trudeau-enlists-trump-to-seek-release-of-canadians-detained-by-china.html

Dave
Member

Amazing. I wish Trudeau would stand up to China like Trump has done. Trump wouldn’t accept Americans being taken hostage.

StupidityCheck
Guest
StupidityCheck

But he’s totally cool with US journalists being murdered. Trump accepts anything as long as he benefits. Trudeau is too cautious and PC, but at least he respects democracy and the rule of law.

Hyper-mega-Bull
Member
Hyper-mega-Bull

which US journalist’s murder is he “cool” with?

Dave
Member

Yup, StupidityCheck fell for Fake News. Some people don’t believe Fake News exists, but that’s a good example…. a lot of people think Kashoggi was American… he wasn’t.

YVR
Guest
YVR

Of course he wasn’t American. It was a bunch of fake outrage along with fake news. Trudeau will grand stand on this but not a peep about Canadians kidnapped in China. How many of their own jounalists do China and Iran murder a year? Do we ever hear about it? Nope.

patriotz
Member

“How many of their own jounalists do China and Iran murder a year? Do we ever hear about it? Nope.”

According to the Committee to Protect Journalists, no journalists were killed in China or Iran in 2018. Plenty were imprisoned in China though. and a simple Google search will find plenty of articles about it. The leading jailer of journalists is Turkey.

https://www.cnbc.com/2018/12/13/251-journalists-jailed-this-year-cpj-report.html

YVR
Guest
YVR

You’re right Patriditz. Nothing to see here. China has done nothing wrong. Just like Trudeau said. Totalitarian dictatorships should be envied.

China had put a total of 47 journalists behind bars by December 1, at least 10 of whom were being detained without charge, according to the CPJ. This was linked to the reported persecution of the Uighur ethnic minority in the Xinjiang region, where Beijing has been accused of holding up to one million people without trial and operating “re-education centres.

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

YVR loves to move the goalposts.

YVR
Guest
YVR

I said the “How many of their own journalists do China and Iran murder a year? Do we ever hear about it? Nope.” Then Patridiz posts a link which does not report the murders (proving my point) but does report 47 journalist and 1 million others being jailed without charge in China. Only a locust could defend such a thing.

YVR
Guest
YVR
patriotz
Member

“Do we ever hear about it? Nope.” “…. “Li_Xiang_(journalist)”

This murder was reported in the New York Times. You know, that newspaper you call “communist”.

https://www.nytimes.com/2011/09/22/world/asia/arrests-in-killing-of-tv-reporter-in-china.html

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

YVR will now run away from this topic and open up another front elsewhere. Standard behaviour.

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

Exactly, you moved the goalposts.

StupidityCheck
Guest
StupidityCheck

Where did I say “citizen”? He was a US resident and Washington Post contributor.

YVR
Guest
YVR

Wrong again. He had temporary Visa to visit the US. That is it. He was not a resident. He was a Saudi national and Saudi journalist. You lap up that fake news like it is credible.

For weeks the press has been telling us he was a permanent resident. They just made it up, to increase the sense that the US has a special moral/legal responsibility to take action.

https://townhall.com/tipsheet/katiepavlich/2018/11/21/so-jamal-khashoggi-wasnt-a-us-green-card-holder-afterall-n2536353

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

If only Trump has thought of using that excuse to distance himself from the murder rather than making a rambling statement that made no such mention, yet did say:

“We have already sanctioned 17 Saudis known to have been involved in the murder of Mr. Khashoggi, and the disposal of his body.”

Seems like a strange path to take for a non-resident non-citizen non-American, no?

YVR
Guest
YVR

Trump stands up for human rights. You have a problem with that? I know it is against everything a locust stands for but seriously?

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

So are you suggesting he’ll make such an address for every single human rights violation in the future? Why exactly did this one deserve special treatment?

Best place on meth
Member
Best place on meth

A US resident is not an American, so you fail there.

Also, still no answer from you about how Trump was “cool” with the murder of Kashoggi.

From what I saw he was disgusted by this barbaric act.

StupidityCheck
Guest
StupidityCheck

Show me where I called him an American. He was living in the US on a genius visa working for the Washington Post. Once again, the fail is yours, FFOM.

patriotz
Member

” Trump wouldn’t accept Americans being taken hostage.”

As I have already pointed out, China is presently holding US citizens hostage without charge. I don’t know whether Trump “accepts” this, but he has not spoken publicly about it.

https://www.nytimes.com/2018/11/25/us/politics/china-exit-ban.html

YVR
Guest
YVR

US citizens. Hilarious.

Do you think Trump asked Trudeau to help him out get these 2 locusts out?

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

Cute, YVR thinks being born-and-raised carries special status.

bullwhip29
Guest
bullwhip29

Local ride-hailing app Kater coming to taxis in B.C.
https://theprovince.com/news/local-news/local-ride-hailing-app-kater-coming-to-taxis-in-b-c/wcm/9b663041-134a-4b00-9874-1cd853aae696

>>> while I can safely say Krusty just went about her shady business dealings without as so much as flinching or batting an eyelash, the NDP goons have taken a different approach and have chosen to operate as though the average citizen has the IQ of 50 and would fall for their ahh shucks, working hard for average folks parlour tricks…

Oracle
Guest
Oracle

This is huge corruption. Apparently reports are that Sihota is behind this. Also, 200 taxi licences were handed out free to start this service. Worth $160 million.

Uber will have to buy them at market value if it wants to start up.

bullwhip29
Guest
bullwhip29

Chinese railway police detained 452 train travellers for commandeering other passengers’ seats in a clampdown on bad behaviour on the rail system, state broadcaster China Central Television reported on Sunday
https://www.scmp.com/news/china/society/article/2180996/chinese-seat-robbers-hit-buffers-clampdown-disruptive-rail-and

>>> and yet here, this is considered perfectly acceptable behaviour.

bullwhip29
Guest
bullwhip29

New documents link Huawei to suspected front companies in Iran, Syria
https://www.cbc.ca/news/politics/huawei-iran-syria-meng-china-1.4970107

>>> maybe it’s just me, but I don’t think this gets resolved anytime soon. perhaps all the sheeple out there bidding up the markets in sheer panic (in advance of a miraculous trade deal or other drug induced fantasy that the Fed or Trump has got their backs…lol) will end up getting some more teeth knocked out (or worse) as they slam their chins en route to freefalling through another trap door which could open up at any given moment.

Shut It Down Already
Member
Shut It Down Already
KickThemOut
Member
KickThemOut

Why do we need this in the first place. Deport anyone who even advocate or support this waste of money and resources.

Hyper-mega-Bull
Member
Hyper-mega-Bull

come on now. chinese pay their taxes just like everyone else.

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

You should attend the meeting and bark racial slurs like there’s no tomorrow. I’m sure it’ll be fine – after all Whistler Or Bust thinks 48% of the population would agree with you.

KickThemOut
Member
KickThemOut
KickThemOut
Member
KickThemOut
NO UBER
Guest
NO UBER
Just some info on ridesharing so everyone’s in the loop. 1) The Green leader has started calling it ridehailing. That’s the term the taxi mob uses. 2) 200 free licences given to Vancouver cab owners. Each current cab owner gets a portion free of charge. Not even leased. These will be used to operate the ridesharing app partially indirectly owned by NDP insiders. 3) Each municipality across BC will be given free taxi licences based on size of community. The municipality will give these new licences free to existing cab owners. These licences will be tied to that same insider App. 4) Limit on ridesharing vehicles will be set by province. For new entrants to operate, you must own a licence. Will have to bid on the few the government offers after going away thousands? to can owners. 5) The… Read more »
NO UBER
Guest
NO UBER

Those 200 licences are worth $160 million.

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

Hi Oracle sockpuppet!

Oracle
Guest
Oracle

You’re a fucking genius. It wasn’t meant for a puzzle to be solved.

Hahaha. You’re not as smart as u think u are.

Repeatedly owned by YVR. Hahaha

YVR
Guest
YVR

Just another nail in the NDP coffin.

Hyper-mega-Bull
Member
Hyper-mega-Bull

CHINESE LEADERS HAVE CHANGED THEIR VIEWS OF PRESIDENT TRUMP: GORDON CHANG.

https://www.youtube.com/watch?v=7A5U0SCBXj8

Hyper-mega-Bull
Member
Hyper-mega-Bull

China’s economy slows further as manufacturing contracts for first time in two and a half years

https://www.scmp.com/economy/china-economy/article/2180072/chinas-economy-slows-further-manufacturing-contracts-first

Hyper-mega-Bull
Member
Hyper-mega-Bull

U.S. manufacturing sector grows slower but still solid in December 2018: report

http://www.xinhuanet.com/english/2019-01/03/c_137715748.htm

they said that Trump couldn’t bring manufacturing back to the US.

U.S. enjoys best manufacturing jobs growth of the last 30 years
(don’t want to post the link because i don’t want to get caught in the spam filter)

YVR
Guest
YVR

U.S. Bureau of Labor Statistics

Net Change in Number of U.S. Manufacturing Jobs
Trump Administration 2017-2018 +473,000
Obama Administration 2009-2016 -210,000

Obama (for laughs)
https://www.youtube.com/watch?v=DuhXkCF-L2E

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

Fake news! Obama’s term started in the midst of the GFC. Yet you try and present this as him destroying manufacturing jobs? What a dishonest interpretation of the data.

https://data.bls.gov/timeseries/CES3000000001?amp%253bdata_tool=XGtable&output_view=data&include_graphs=true

YVR
Guest
YVR

Last time we looked at polling data you stated we must look at the aggregate over the term. Moving the goal post again?

Still Obama destroyed manufacturing jobs. On average Obama lost 26,250 manufacturing jobs per year for his 8 years. The worst record in US presidential history. Trump has created 236,500 manufacturing per year for his first 2 years. Obama said that was impossible prior to the election, then like the loser he is tried to take credit for it after Trump created the jobs. But then again who cares about manufacturing jobs so why argue the point?

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

It’s not moving the goalposts, it’s understanding how to interpret context. You’re more than welcome to use approval ratings from 2010 onwards too if you’d prefer, or in fact any other period, but it would not change the conclusions about how ridiculously unpopular Trump is in comparison to former presidents.

You’re correct in saying that I don’t care about manufacturing jobs. But I do care about the truth and your tendency to cherrypick and outright lie (e.g. defending Trump’s comments about military pay increases by literally making shit up), so that’s why I argue the point. Your attempt to imply that jobs were lost every single year of his term is particularly dishonest. But that’s just you.

StupidityCheck
Guest
StupidityCheck

Here’s a link. US manufacturing growth started 7 years before Trump took office. #Oops

https://fred.stlouisfed.org/graph/fredgraph.png?g=mBLP

Best place on meth
Member
Best place on meth

Did you notice the sharp upward move in 2017?

StupidityCheck
Guest
StupidityCheck

Only when I put on my false flag glasses and squint real hard.

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

Who gives a fuck about manufacturing jobs? It’s like fighting to keep HMV and Blockbuster alive.

YVR
Guest
YVR

You have just stated manufacturing jobs are not important along with retail jobs. Your communist counterparts in the US want the new green deal which will eliminate all natural resource jobs with 10 years. The US would have the economy of North Korea or Cuba. Good thing people like you have no power.

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

Your very first sentence was a lie. I didn’t bother to read the rest.

Best place on meth
Member
Best place on meth

Who gives a fuck about manufacturing jobs?

Obviously nobody who matters.

Hyper-mega-Bull
Member
Hyper-mega-Bull

manufacturing workers give a fuck about manufacturing jobs.

Hyper-mega-Bull
Member
Hyper-mega-Bull
Laibach
Member
Laibach

Swarming continues, nothing is going to fucking stop them…

Chinese buyers expand their reach in the US housing market as the middle class gets in on the act

https://www.cnbc.com/2019/01/08/chinese-middle-class-buying-up-american-residential-real-estate.html

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

Oh, I thought Canada and Australia’s housing markets were rolling over due to increased capital controls?

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

Hello? Anybody?

Canada is for Canadians
Guest
Canada is for Canadians

“For instance, Chinese buyers flocked to an open house in Long Island City in Queens, New York, just a week after Amazon announced it would open a new headquarters there.”

new locust swarms ….