Friday Free-for-all! February 14th 2020

It’s Friday and that means it’s time for a new thread!

Supply is dropping, does that mean prices will stop the drop and start to rise again?

post your news links, thoughts and anecdotes in the comments below and have a fabulous weekend!

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Avril
Avril
6 months ago

check out Myrealtycheck.ca….
Mostly red arrows pointing down.

bestplaceonearth
bestplaceonearth
7 months ago

Hmmm, funny world, a poster almost got scammed by this group, and they called this poster troll!
Their agenda got busted too.
Should we all be nice to the scammers? Not! In fact, we should all denounce them, so they can quit scamming people.

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[…] –Vancouver 6th worst bubble risk in world–Million dollar homes in central Okanagon–Political mortgage stress tests–Making it easier to get a mortgage–Housing crisis reckoning– […]

Werner Stein
Werner Stein
7 months ago

“Stop being so $%#*&^@ weird.”

In other words, you are suggesting that the troll deserves a thoughtful response to what he posts?

Please point to just one post of his that resembles anything close to a sensible, honest, cohesive and thoughtful expression of opinion.

Shut It Down Already (original)
Shut It Down Already (original)
7 months ago
Reply to  Werner Stein

Why bother? You’ll just ignore what I said and change the subject again.

Ad hoc
Ad hoc
7 months ago

‘It’s a necessity’: Calls for province to step in amid rapidly rising strata insurance rates

https://www.citynews1130.com/2020/02/21/province-strata-insurance-rates/

VANCOUVER (NEWS 1130) – With strata insurance rates skyrocketing across the Lower Mainland, there are calls for the province to step in and provide an affordable alternative. Government will probably set up a crown corporation like ICBC to issue insurance to strata councils.

another bailout for property owners by government on the back of the taxpayer…

Best place on meth
Best place on meth
7 months ago
Reply to  Ad hoc

Let the free market take care of it.

Ad hoc
Ad hoc
7 months ago

and apparently no one has learned any lessons from ICBC.

Dave
7 months ago

If they were smart, they’d get a HELOC to paper them over in the short run while getting gains on the other side. Long term thinking.

bestplaceonearth
bestplaceonearth
7 months ago

inventory is all time low. interest rate are low. buyers all want a piece of this best place onearth. bearometer jealousy is all time high. it is a perfect storm.
dont advice bears to buy now. please do not waste precious time of realtors and mortgage brokers. just accept your destiny. listen to your mama: look only,no touch.

Best place on meth
Best place on meth
7 months ago

76,000
2,147

Dave
7 months ago

Extra day this month too and a Saturday to top it off. Should make for good comparables.

Best place on meth
Best place on meth
7 months ago
Reply to  Dave

Stop posting your opinions until you figure out why you’re so horrible at math.

Best place on meth
Best place on meth
7 months ago

There is no housing recovery in Canada, just a small dead cat bounce until the next leg down.

https://housepriceindex.ca/2020/02/january2020/

Werner Stein
Werner Stein
7 months ago

“9858 inventory / 127 sales per day x 30 days = 2.5 MOI”

Leader of the pumpers is the best liar on the board, but he is the worst with numbers.
Uses the same methodology in projecting the number of new housing units required.

He does not understand that numbers are not like slogans that you can just make up.

Best place on meth
Best place on meth
7 months ago
Reply to  Werner Stein

Forgive him, he was drunk on tequila and trying to do the calculations on his Rolex.

Dave
7 months ago

Simple math. Try it. 30 days like today is 2.5. Facts.

Shut It Down Already (original)
Shut It Down Already (original)
7 months ago
Reply to  Dave

That 6 week course didn’t cover basic arithmetic?

Dave
7 months ago

It’s multiplication / division.

Total inventory / Total sales (prorated to a month) = Months of Inventory

Yesterday had an MOI of 2.5. Think about it. It’s mid-month and a Thursday (so less weekend effect trickling into the numbers). So it’s a good bellwether of what’s happening out there… lots of sales relative to inventory.

Bestplaceonearth
Bestplaceonearth
7 months ago

Which bitcoint machine should I pay? are iturn cards accepted?

Werner Stein
Werner Stein
7 months ago

“but not to scam people”
That is enough with your defamatory accusations. I am calling the police to have you taken away, and let be known that I will not be responsible for the things that other men will do to you in prison.

Shut It Down Already (original)
Shut It Down Already (original)
7 months ago
Reply to  Werner Stein

Stop being so fucking weird.

Dave
7 months ago

When the going gets weird, the weird turn pro.

Laibach
Laibach
7 months ago

This is interesting. How come you have nothing to say about weirdness to the serious psychopath “bestshitonearth”, not even questioning his literacy or basic comprehension skills, but immediately jump on other much more benign posters? Strange policy, very strange unless you possibly realize that imbecile is lost case and there is no point to bring it up?

Ad hoc
Ad hoc
7 months ago

Central Okangan report: $1 million average for new single-family home

https://globalnews.ca/news/6577033/central-okanagan-1-million-average-home/

That cost has risen by 5.6 per cent from 2018, according to a report done by the Regional District of Central Okanagan.
The report says the average cost of a new single-family home in the Central Okanagan is priced at $950,000.
Average cost of a new single-family home in Toronto is $995,000

It seems like a lot of money considering there’s not big employment in that area.

Werner Stein
Werner Stein
7 months ago

Vancouver is ranked by the UBS Global Real Estate Bubble Index as having the sixth worst housing ‘bubble risk’ in the world

https://calgarysun.com/life/homes/fort-mac-is-no-1-vancouver-is-308th-in-world-housing-affordability

Dave
7 months ago
Reply to  Werner Stein

In other news, Vancouver has been a great place to invest in real estate and the formula hasn’t changed.

Slava
Slava
7 months ago
Reply to  Dave

Oh, it will never be the same.

Werner Stein
Werner Stein
7 months ago

“Don’t wait to buy real estate. Buy real estate and wait.”
I was wondering how long it would take to digress back to infantile and syllogisms

Ad hoc
Ad hoc
7 months ago
Reply to  Werner Stein

And sometimes having to wait a long time.

Dave
7 months ago
Reply to  Ad hoc

Never a long wait.

Ad hoc
Ad hoc
7 months ago
Reply to  Dave

it was if you bought in 1991 like I did.

Bestplaceonearth
Bestplaceonearth
7 months ago

” to raise funding for a public monument”
If you do ever, please use the fund for the indicated purpose, but not to scam people. Busted once, remember!

paulb
paulb
7 months ago

New
217
Price Change
50
Sold
127
TI: 9858

http://www.clivestevepaul.com

Dave
7 months ago
Reply to  paulb

Indeed

Shut It Down Already (original)
Shut It Down Already (original)
7 months ago
Reply to  paulb

LOL.

Best place on meth
Best place on meth
7 months ago
Reply to  paulb

MOI is exactly 5.

Balanced market…..for now.

Dave
7 months ago

9858 inventory / 127 sales per day x 30 days = 2.5 MOI

Shut It Down Already (original)
Shut It Down Already (original)
7 months ago
Reply to  Dave

That’s not how it’s calculated.

Slava
Slava
7 months ago
Reply to  Dave

What a fool…lol

Best place on meth
Best place on meth
7 months ago
Reply to  Dave

The only number you got right was inventory, which Paul gave you.

Slava
Slava
7 months ago

Richmond dead as a door nail. 300 000 k losses on town-homes for the last year and a half.

Werner Stein
Werner Stein
7 months ago

“Inside the ‘Growth Machine’ that Made Vancouver World Class Unaffordable”

Sometime down the road I would like to start a campaign to raise funding for a public monument to draw attention to what the pumpers did to this city and the contagion that eventually spread to the rest of the province.

After the crash the homedebtors/ casualties may be easily persuaded to support the idea of a permanent reminder.

Burnabonian
Burnabonian
7 months ago

the amazing thing about the prick realtors on this site is that they act like RE is the only asset class on earth. Actually it’s *arguably * one of the crappiest asset classes on earth, with low returns, moderate risk, crazy frictional costs, nil liquidity, etc. (The only advantages are that the bank will let you buy it on margin even if you don’t know what that means, and that the government gave it a special capital gains exemption in order to make sure it remains attractive.) My point is that on other investing forums, people express opinion that may or may not be reasonable and may or may not be grounded in a sound understanding. Most people who disagree, or who have the opposite opinion, shrug and carry on. There’s something about this particular investment in this particular market… Read more »

Dave
7 months ago
Reply to  Burnabonian

Real estate is so much more than that. . It’s coming home to a warm meal and relaxing in your favourite chair, enjoying a nice movie or music with a soothing drink. It’s waking up on Christmas morning to the smell of baked cookies and then tender turkey wth your family. It’s the white picket fence. It’s security. It’s coming home to the best place in the world. Real estate is memories… the best ones.

Ad hoc
Ad hoc
7 months ago
Reply to  Dave

You left out “your forever home”…

Dave
7 months ago
Reply to  Ad hoc

No, because in today’s market you need to work your way up the property ladder.

Ad hoc
Ad hoc
7 months ago
Reply to  Dave

right… the “property ladder” which is good for realtor commissions too.

Dave
7 months ago
Reply to  Ad hoc

True, but you can’t get to the top of a ladder in a single step. You get there by taking one step at a time. Don’t wait to buy real estate. Buy real estate and wait.

Shut It Down Already (original)
Shut It Down Already (original)
7 months ago
Reply to  Dave

No renter ever had such memories, I suppose?

Dave
7 months ago

Mostly envy.

Slava
Slava
7 months ago
Reply to  Dave

Some of us so envy the Gold Rolex on that Baldwin Pic that you use, but that’s about it;)
I have a Rolex now worth 18 K, but that’s just me.

Dave
7 months ago
Reply to  Slava

Sea Dweller or Batman. Nice.

Slava
Slava
7 months ago
Reply to  Dave

Better. Kermit.

Dave
7 months ago
Reply to  Slava

Green with envy.

Best place on meth
Best place on meth
7 months ago
Reply to  Dave

I’m so jealous Dave, I wish I could experience coming home to my favorite chair or having a warm meal or watching a movie.

Alas, none of those wonderful things are even remotely possible. It’s stated in my lease agreement.

*sob*

Projection
Projection
7 months ago
Reply to  Burnabonian

a) This is not an investing forum

b) I doubt that there are many realtors here. Paul, Dave… anybody else?

c) “shrug and carry on. ” – tell that to people who have been wrong and misleading others for the past 15 years (the ‘bears’).

d) “I mean so someone pointed out that fundamentals don’t support current prices, and housing is possibly overbought. WHO CARES???” – 15 years….

Again, this is not an investment forum. Most people live in the homes they buy.

Bestplaceonearth
Bestplaceonearth
7 months ago
Reply to  Projection

Is Dave a realtor? Must be a good one!

Best place on meth
Best place on meth
7 months ago
Reply to  Burnabonian

The trolls aren’t realtors, they’re smug, superior home owning fucks who think they’re superior beings and entitled to make money doing nothing.

Dave
7 months ago

I’m here on a mission of mercy and I’m here to get you to the finish line. I give you all the evidence and justification you could possibly need but you still don’t pull the trigger. But this Spring… it could be apple pie in the oven and sitting in your recliner in a wonderful new home. Let’s get there together. I’m with you.

Ad hoc
Ad hoc
7 months ago
Reply to  Dave

We love you Dave !

Dave
7 months ago
Reply to  Ad hoc

They all say that, excepting my two ex-wives. 🙂

Slava
Slava
7 months ago
Reply to  Dave

Your hands are your wives?

Ad hoc
Ad hoc
7 months ago
Reply to  Slava

hah hah ! Now we’re rollin’

Slava
Slava
7 months ago

Nah, they’re underemployed realtors or just underemployed, lots of debt, with plenty of time to post here.

bullwhip29
bullwhip29
7 months ago

‘Insanely reckless’ driver of Mercedes SUV clocked going 166 km/h in an 80km/h zone on the South Fraser Perimeter Road
https://bc.ctvnews.ca/insanely-reckless-driver-clocked-going-more-than-double-the-speed-limit-in-delta-1.4820721

Ad hoc
Ad hoc
7 months ago

UK unveils immigration overhaul for 2021 focused on skills

https://www.citynews1130.com/2020/02/18/uk-unveils-immigration-overhaul-for-2021-focused-on-skills/

Business is concerned their cheap labour pool will no longer be available and they’ll have to pay employees proper wages.

Ad hoc
Ad hoc
7 months ago

Hosting 2030 Games an ‘inspiring and exciting challenge’: board of trade

https://www.citynews1130.com/2020/02/20/hosting-2030-games-an-inspiring-and-exciting-challenge/

Are we gluttons for punishment ?

Best place on meth
Best place on meth
7 months ago
Reply to  Ad hoc

Winter games are for third tier cities, you know, like Nagano, Lillehammer and Calgary.

Also, having 12 kinds of snowboarding events is boring.

Ad hoc
Ad hoc
7 months ago

or second world countries like Russia.

Best place on meth
Best place on meth
7 months ago
Reply to  Ad hoc

The IOC has been corrupted like all other world bodies in politics or sports.

WHO, WTO, UN, IMF, FIFA, World Bank all paid off.

Our prime minister trudeau obeys their every command.

Ad hoc
Ad hoc
7 months ago

Burnaby’s biggest Asian mall ‘suffering’ due to coronavirus rumour

https://www.burnabynow.com/news/burnaby-s-biggest-asian-mall-suffering-due-to-coronavirus-rumour-1.24079737

Members of Burnaby council are set to make a “goodwill” visit to the city’s biggest Asian business centre to counter a false coronavirus rumour that is damaging business for merchants.

Ad hoc
Ad hoc
7 months ago
bullwhip29
bullwhip29
7 months ago

Inside the ‘Growth Machine’ that Made Vancouver World Class Unaffordable
https://thetyee.ca/Analysis/2020/02/13/Gov-Real-Estate-Vancouver-Housing-Unaffordable/

Dave
7 months ago
Reply to  bullwhip29

A lot of this is true but we didn’t deregulate. We over regulated and that’s part of the problem. Our bureaucrats are busy picking out the exterior colours of a building and doorknobs instead of using the equivalent resources to staff up revenue Canada and other watchdogs.

But we’ve always been a bit of a backwater. This isn’t new. Buy the ticket, take the ride. Nobody is changing anything.

Ad hoc
Ad hoc
7 months ago
Reply to  Dave

“Buy the ticket, take the ride.”

I like that. Can I use it?

Dave
7 months ago
Reply to  Ad hoc

At your own risk.

Selective Memory
Selective Memory
7 months ago
Reply to  Dave

“Buy the ticket, take the ride”

Stolen from Hunter S. Thompson. Who despised the developers and their ilk who destroyed Aspen.

Another choice quote, for context: “These swine should be fucked, broken, and driven across the land.””

Best place on meth
Best place on meth
7 months ago
Reply to  Ad hoc

He probably stole it from a movie so feel free.