Totally average

Sales are neither rocketing to the stars nor plummeting to the depths of the seas. They are currently just about where expected compared to a 10 year average.

The benchmark price for detached homes was down 5.8 per cent from a year ago at $1.415 million, while the condo benchmark price was down 3.8 per cent at $651,500.

read the full article here.

Sort by:   newest | oldest | most voted
Werner Stein
Guest
Werner Stein

By April, either you’re in the market or priced out forever.

You are right as long as the following conditions persist simultaneously and for ever.

Real Interest Rates Stay below zero for ever
Economy booms in perpetuity for ever with no inflation
Drug pushers allowed free reign
Money Lauders allowed free reign
Hillbillies Reelected
Money Laundering Inquiry is shut down
Whistle Blower Legislation rescinded
Land Registry Transparency Legislation Repealed
Pressure and Political Groups become docile and move to homeless camps

The hillbilies handed you a lotto ticket.
You havent’t had the courage to cash it.
It will soon expire.

Burt
Guest
Burt

RE has become an institutional asset in the last couple of decades. Its as much a necessary financial tool as it it is housing.

To bet against housing on a large scale is to bet on another economic collapse. That means pension funds go under, banks go under, mutual funds, hedge funds, essentially the entire monetary system as we know it.

In other words, you are gambling on a black swan to justify your position. This is akin to hoping for a lotto win to fund retirement, definitely not impossible, but highly unlikely.

Projection
Guest
Projection
> You are right as long as the following conditions persist simultaneously and for ever. Most first time buyers buy between ages 25 to 45. After 45, getting a mortgage becomes increasingly difficult (end of mortgage usually must be before the borrower is 70) So, not forever, but 2 decades. That is your window. Now, prices may crash tomorrow (they won’t, but let’s assume they do). Those who have waited since these blogs started have wasted the majority of their age window of opportunity. But if prices crash very hard, it may be still wort it, assuming they crash deep enough, while not causing a brutal recession as a side effect. Odds of that are extremely low. OTOH, if you are below 25 now, you most likely can’t buy anyway and a “crash” is also a very different thing for… Read more »
Oracle
Guest
Oracle

No one has gone to jail under the NDP. It’s almost year 4.

Interest rates to stay low and even become negative in your lifetime.

Mass immigration will ensure demand outpaces supply for the foreseeable future.

Has housing really become more affordable under the NDP? No.

NDP allowed ALR landowners to build mansions by the thousands. They took years introducing legislation, meanwhile every Tom Rick and harry got a grandfathered application in.

Yes. You are book smart. But zero street smarts.

bestplaceonearth
Guest
bestplaceonearth

Again, based on your list, you must be living in Lala land. But, you did make good effort to come up with the list! It’s very book-smart but not very street smart.
I hope you have the courage to enjoy a great weekend that this city has to offer!

The Watcher
Guest
The Watcher

Lala land? : you can look in your mirror.

The Watcher
Guest
The Watcher

Bank of Canada says Poloz will not seek a second term as governor

OTTAWA – The Bank of Canada says governor Stephen Poloz will not seek a second term as governor when his seven-year term expires next year.
Before becoming head of Canada’s central bank in 2013, Poloz was chief executive of Export Development Canada.
He replaced Mark Carney, who left the Bank of Canada to become governor of the Bank of England.
Poloz’s term expires on June 2, 2020.
The board of directors of the central bank says it has begun a search process to select his replacement.
Poloz is 64 years old.

Best place on meth
Member
Best place on meth

Thank god, he is the worst BoC governor of all time.

We also have the worst PM of all time.

WTF is going on?

realist
Member
realist

typo – “Zeitgeist”

realist
Member
realist

Zeitgeit – “the spirit of the times”. Fill in the blank: “we have the worst ______ (mayor, premier, prime minister, etc.) of all time.

Oracle
Guest
Oracle

Can someone acknowledge that I called the bottom in the spring ?????

It’s bidding wars galore for sub $1 million properties.

By April, either you’re in the market or priced out forever. Rents will continue to explode with massive immigration.

Two tiered society is closer than you think. All homeowners going on vacation this month while renters are under stress

I told you guys to listen to me.

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

(You also called peak inventory in summer)

Bestplaceonearth
Guest
Bestplaceonearth

Some just can’t accept reality, I guess.

The Watcher
Guest
The Watcher

What a couple of clowns you two guys are .

Bestplaceonearth
Guest
Bestplaceonearth

Happy Friday! just wondering what link you are gonna post next!

The Watcher
Guest
The Watcher

You can’t wait huh? You read those links; admit it.

bestplaceonearth
Guest
bestplaceonearth

Yes, I read the headline! There, I admitted it.

The Watcher
Guest
The Watcher

You should take more time to educate yourself on those articles rather than just post garbage here, then you won’t have such a one-dimensional view on the world.

bestplaceonearth
Guest
bestplaceonearth

Again, those articles comes out every second. I have better things to do.
You spend way too much time going through those articles, that you miss-allocate your own resources. Not sure if you are aware, people are attracted to negative news which become a money maker for the publishers.

The Watcher
Guest
The Watcher

Feel free to gaze at your own navel then and ignore the larger world around you. That’s your choice.

bestplaceonearth
Guest
bestplaceonearth

Never said it isn’t.

paulb
Member

New
113
Price Change
28
Sold
148
TI:11,117

http://www.instagram.com/clivestevepaul

Bestplaceonearth
Guest
Bestplaceonearth

Home ownership pipe dream? It’s tough, but a reality to some of these 148 buyers.

Oracle
Guest
Oracle

The biggest casualty of this leg up will be the white people who are pensioners. Immigrants live in extended families so less effect.

Pensioners in trouble because if they are renting, they are screwed. Especially if one passes.

Also, people may slam me for saying this but single mothers that rent are also in trouble. Hate to say it but, Prostitution may be their only way to tread water as a single income simply can’t pay the rent.

realist
Member
realist

Sadly, the vulnerable and the poor always pay the higher price, relatively speaking.

No-Shill
Guest
No-Shill

Yup; lower prices will do that.

Bestplaceonearth
Guest
Bestplaceonearth

Ease off b20 would help too.

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

Lower mortgages rates. There were 2.23% 5yr fixed available only a few days ago.

The Watcher
Guest
The Watcher

RCMP announce multimedia blitz to capture alleged money launderer

https://www.burnabynow.com/rcmp-announce-multimedia-blitz-to-capture-alleged-money-launderer-1.24026462

Police say the public can expect to see large yellow sign advertisements with Dinh’s mugshot on it.

It’s good to see the cops actually doing something about this. Now if only the courts would cooperate.

southseacompany
Member
southseacompany

“Canadian Mortgage Credit Is Seeing Explosive Growth… Again”, Better Dwelling

https://betterdwelling.com/canadian-mortgage-credit-is-seeing-explosive-growth-again/

“Canadian mortgage debt held by institutional lenders made a huge leap. There was $1.61 trillion in mortgage debt outstanding in October, up 0.56% from a month before. That brings the balance outstanding 4.5% higher, when compared to the same month last year. This is both a new record for the dollar amount, and a multi-month high for growth.”

The Watcher
Guest
The Watcher

Nothing more than a pipe dream: Homeownership out of reach for Canada’s millennials

https://www.citynews1130.com/2019/12/05/homeownership-out-of-reach-millennials/

72 per cent of millennials say their goal is to own a home, but almost half — 46 per cent — admit it’s a pipe dream.

Thanks to record low interest rates for the last decade we are now in this mess thank you very much FED and BoC.
We need to break off our addiction to Real Estate.

Bestplaceonearth
Guest
Bestplaceonearth

This kind of news comes out every second. What else is new?
According to Paul’s daily report, there are 112 buyers transacted RE just only yesterday. I am sure some of those are millennials.

The Watcher
Guest
The Watcher

Ajax, Ont. developer with council ties believed to be out of Canada amid questions about identity

https://globalnews.ca/news/6245676/ajax-developer-council-ties-canada-identity-questions/

Alleged crime boss.
“I think he’s the worst person I’ve ever worked for,” said one former employee. They described contractors calling “every single day” at the G Centre asking for money owed to them.
The company was constantly under intense financial pressure from creditors over the last year.
Evicted from at least one of its properties over claims of just over $21,000 in unpaid rent.
$21,470 in alleged rental arrears.
He bought a home in Pickering, Ont. the following year for $780,000 and took out two loans against the property totalling $1,169,000 as of June 2019.

What a story this is… I wonder how much more of this type of thing is going on that no ones knows about?

Werner Stein
Guest
Werner Stein

Bestplaceonearth says:
“The freeloaders always demand more taxes, because they think they will get more government hand out “

It is you mortgage debt slaves, speculators, and the corrupted politicians you support who are freeloading to the detriment of hard working tax payers, and savers.

Savers are forced by government monetary policy to subsidize the irresponsible debtors with negative real interest rates.

Your hillbilly politicians who are corrupted, or incompetent, allowed the criminals to use BC as an international laundromat and the honest taxpayer is left to pay for the clean up of the cost of crime, and the social blights that came with it.

The hillbilly politicians, the debt slaves, and the speculators, are the parasites.

Bestplaceonearth
Guest
Bestplaceonearth

Keep pointing the fingers…when are you gonna get off your …and take some action for your own self!

Bestplaceonearth
Guest
Bestplaceonearth

Wow, with sale and list going like this, more price recovery there will be in the spring. But have no worry, Doomers . The NDP is in power until May 2021, so there may be more wealth taxes to steal from, and bring the bc economy back to 2001. A budget deficit this Feb 2020 is a start.
Where is ride hailing at btw? Are they still studying how to save the taxi companies?

The Watcher
Guest
The Watcher

Uber and Lyft are actively recruiting drivers in YVR now so any day now, my boy.

The Watcher
Guest
The Watcher

Vancouverites ‘overwhelmed’ by proposed tax increase, councillors say

https://www.citynews1130.com/2019/12/04/vancouverites-overwhelmed-by-proposed-tax-increase-councillors-say/

The freeloaders should have to pay their fair share. They are ok with ppty values through the roof, but don’t want to pay taxes on their inflated assets.

Best place on meth
Member
Best place on meth

Still far too cheap compared to other cities.

A tax rate of 0.25% is a joke. Add another 8% next year and the year after.

Bestplaceonearth
Guest
Bestplaceonearth

The freeloaders always demand more taxes, because they think they will get more government hand out . Little do these basement dwellers realize, their mamas have to shell out more $$ for taxes.
Let compare rents to NY and SF, and raise rents too.

Best place on meth
Member
Best place on meth

Yes, let’s compare the rents in this shitty backwater town called Vancouver that produces nothing other than yoga pants and a real estate industry that caters to corrupt china men to the rents in the FINANCIAL CAPITAL OF THE WORLD AND THE TECH CAPITAL OF THE WORLD.

You are so fucking stupid you should be crawling on a beach with all 5 of your arms.

Bestplaceonearth
Guest
Bestplaceonearth

Shitty life in a shitty basement in a shitty city! Something is not right.

Best place on meth
Member
Best place on meth

Shitty what? Shitty Wok?

https://www.youtube.com/watch?v=DwIHLIeaBww

Fuck you, china man.

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

Hush now, you unemployable dumbfuck racist twat.

Bestplaceonearth
Guest
Bestplaceonearth

How do you go through a day carrying full brain of f$ck, sh&t, motherf#ck&r , and hate?. You should take yoga or meditation.

Best place on meth
Member
Best place on meth

Will yoga or meditation help me tolerate worthless scumbags like you?

If so I’m not interested.

Bestplaceonearth
Guest
Bestplaceonearth

Yoga or meditation will help you to be resourceful for yourself. Sitting there angry at the world is a waste of resources.
Try it, thank me later.

Best place on meth
Member
Best place on meth

Will yoga and meditation help turn me into a sleazy, lowlife real estate pumper like yourself?

Actually, never mind. I’ve wasted far too much time sparring with a complete piece of shit. That’s my real mistake.

You and AIDS have sickened this blog to the point of terminal illness.

It’s no wonder why there’s nobody left here.

Bestplaceonearth
Guest
Bestplaceonearth

You just don’t want to admit that what I said makes sense. It’s so naive to think that the market can be pumped by individuals.
You didn’t think that, people left because they have moved on with their lives away from years of doom and gloom b.s?

Best place on meth
Member
Best place on meth

Done with AIDS months ago, done with you now.

No more time for evil trolls.

That’s a much better solution than yoga, I should have realized it a long time ago.

Bestplaceonearth
Guest
Bestplaceonearth

You give up so easy!

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

Oh no! Not again!

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

So hostile. Are you getting impeached or something?

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

You might have zero skills, no education, and no real hope for the future but others are working at Microsoft, Samsung, SalesForce, EA, or about to sign contracts at Amazon and Apple.

But keep telling yourself it’s a “nothing but yoga pants” backwater – it clearly brings you comfort.

The Watcher
Guest
The Watcher

Ridiculous. Rents are derived from earned incomes and are local, vs. real estate values driven by rampant speculative gambling. It is apples to oranges.

Bestplaceonearth
Guest
Bestplaceonearth

So, you mean demand and supply have nothing to do with rent?

The Watcher
Guest
The Watcher

When I can finance my rent for 25 years at 2.5% interest rates get back to me.

Selective Memory
Guest
Selective Memory

“When I can finance my rent for 25 years at 2.5% interest rates get back to me.”

You can do that through your parents re-financing their mortgage.

One third of property owners in the lower mainland are helping their children with rent.

Bestplaceonearth
Guest
Bestplaceonearth

Talk to a mortgage broker, they might be able to show you the light at the end of the tunnel. As of right now, it’s hopeless.

paulb
Member

New
100
Price Change
25
Sold
112
TI:11215

http://www.instagram.com/clivestevepaul

The Watcher
Guest
The Watcher

Vancouver homeowners pay the lowest property tax rate on the continent and it wouldn’t be a bad thing to increase it even more.

https://www.citynews1130.com/2019/12/04/vancouver-lowest-property-tax-north-america/

and those entitled whiners cry like babies ……

Bestplaceonearth
Guest
Bestplaceonearth

If someone steals $$ from your pay check, I am sure you would just gladly to hand it over.

Best place on meth
Member
Best place on meth

Seriously bpoe, what shithole country are you from?

Are you friends with Emily Yu?

Bestplaceonearth
Guest
Bestplaceonearth

Same place your ancestors came from.

Best place on meth
Member
Best place on meth

We didn’t come from that shithole china.

The Watcher
Guest
The Watcher

A “paycheque” (notice the correct spelling) is something I earn through hard work, as opposed to free money from real estate speculation.

Bestplaceonearth
Guest
Bestplaceonearth

Thank you sir, Mr. Spellcheck policeman.

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

Paycheck is also correct spelling.

The Watcher
Guest
The Watcher

he spelled it “pay check” not “paycheck” and also we are not in the States where it is spelled “check”

bestplaceonearth
Guest
bestplaceonearth

By the way, you need to capitalize at the start of a sentence! My elementary teacher told me that.

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

A space is also fine. Feel free to double-check with Wikipedia if you’re still confused.

Burt
Guest
Burt

Is Hemmingway YVR? 99.9% of home owners don’t run a proforma on their principal residence, they buy it because they want a stable long term place to live, even if it makes little sense financially.

He says;

“…point I’m making is that it is increasing much much more slowly than the levels of property wealth in the city and we need to take that into account. ”

What does it matter how much the property value goes up for the average home owner? This is a number on a page that we obsess debating about on anonymous online forums. Are homeowners expected to turn this paper equity liquid via HELOC so that they can pay double digit tax increases? Are incomes growing at 8.2% a year? That’s what is paying for tax increases.