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!
433 Comments
check out Myrealtycheck.ca….
Mostly red arrows pointing down.
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.
[…] –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– […]
“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.
Why bother? You’ll just ignore what I said and change the subject again.
‘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…
Let the free market take care of it.
and apparently no one has learned any lessons from ICBC.
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.
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.
76,000
2,147
Extra day this month too and a Saturday to top it off. Should make for good comparables.
Stop posting your opinions until you figure out why you’re so horrible at math.
There is no housing recovery in Canada, just a small dead cat bounce until the next leg down.
“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.
Forgive him, he was drunk on tequila and trying to do the calculations on his Rolex.
Simple math. Try it. 30 days like today is 2.5. Facts.
That 6 week course didn’t cover basic arithmetic?
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.
Which bitcoint machine should I pay? are iturn cards accepted?
“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.
Stop being so fucking weird.
When the going gets weird, the weird turn pro.
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?
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.
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
In other news, Vancouver has been a great place to invest in real estate and the formula hasn’t changed.
Oh, it will never be the same.
“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
And sometimes having to wait a long time.
Never a long wait.
it was if you bought in 1991 like I did.
” 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!
New
217
Price Change
50
Sold
127
TI: 9858
Indeed
LOL.
MOI is exactly 5.
Balanced market…..for now.
9858 inventory / 127 sales per day x 30 days = 2.5 MOI
That’s not how it’s calculated.
What a fool…lol
The only number you got right was inventory, which Paul gave you.
Richmond dead as a door nail. 300 000 k losses on town-homes for the last year and a half.
“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.
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 »
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.
You left out “your forever home”…
No, because in today’s market you need to work your way up the property ladder.
right… the “property ladder” which is good for realtor commissions too.
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.
No renter ever had such memories, I suppose?
Mostly envy.
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.
Sea Dweller or Batman. Nice.
Better. Kermit.
Green with envy.
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*
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.
Is Dave a realtor? Must be a good one!
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.
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.
We love you Dave !
They all say that, excepting my two ex-wives. 🙂
Your hands are your wives?
hah hah ! Now we’re rollin’
Nah, they’re underemployed realtors or just underemployed, lots of debt, with plenty of time to post here.
‘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
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.
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 ?
Winter games are for third tier cities, you know, like Nagano, Lillehammer and Calgary.
Also, having 12 kinds of snowboarding events is boring.
or second world countries like Russia.
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.
Burnaby’s biggest Asian mall ‘suffering’ due to coronavirus rumour
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.
Coronavirus fears emptying tables at Metro Vancouver Chinese restaurants
Inside the ‘Growth Machine’ that Made Vancouver World Class Unaffordable
https://thetyee.ca/Analysis/2020/02/13/Gov-Real-Estate-Vancouver-Housing-Unaffordable/
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.
“Buy the ticket, take the ride.”
I like that. Can I use it?
At your own risk.
“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.””
He probably stole it from a movie so feel free.