Record construction with falling prices

Mo’ houses, mo money?

Canada Mortgage and Housing (CMHC) reported that Metro saw developers start construction on 28,141 new homes in 2019, up 20 per cent from 2018, with a substantial number of those, some 6,727, purpose-built rental units.

The CMHC report came out on the same day that Royal LePage released its latest house-price survey showing that aggregate home prices across the region declined 4.8 per cent in the fourth quarter of 2019 but in a market showing signs of recovering sales.

Read the full article here.

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

Recruiting any new members? Bhahaha!

Werner Stein
Guest
Werner Stein

Keep the pump going, the longer you pump the closer to the blow up.

Pile on more debt, and more consumers consuming less.

The more units sold the more housing becomes a greater portion of GDP and the more contraction when the expansion cycle ends.

The more construction now the more the overhang will be.

The bursting of the bubble is certain and inevitable, no one can know the exact time.

But this is just dry math stuff, the pumpers know this.

What is more interesting, and yet disturbing ,is how the degenerates high five each other, and without shame or remorse, gloat over the crisis.

Projection
Guest
Projection

Is this copy pasta from 2005?

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

Mamma mia!

Bestplaceonearth
Guest
Bestplaceonearth

Shame on you for having five years or less on your mortgage!

paulb
Member

New
173
Price Change
43
Sold
130
TI:9631

http://www.clivestevepaul.com

Dave
Member

A triple again! And only 3 net listings.

Best place on meth
Member
Best place on meth

Have things gotten so bad that anything over a hundred gets you more excited than looking at your watch?

How did the bar sink so low?

Dave
Member

How did listings drop so low?

Best place on meth
Member
Best place on meth

Not enough sellers.

Dave
Member

Exactly. Not enough supply.

Oracle
Guest
Oracle

I check on the clueless here from time to time.

The bc NDP have been bought out by the developers and hence the media. Let me know when you guys figure this out.

Liberals 2.0.

As long as rents keeps increasing, no renters credit, and the low end keeps rising due to massive population inflows, all is good. The developers will give this party another term with the help of the clueless like those here.

Bestplaceonearth
Guest
Bestplaceonearth

You are checking here, you must be a realtor! Lol!

Dave
Member

Yup… but that’s why they’re going to get re-elected. They did enough to give themselves a talking point for their base and enough that they’ll always be a bit better than the Liberals on housing. But, they avoided prices falling too much, which would have taken the economy with it. Best of both worlds. Well played Horgan.

The truth is that a lot of City of Vancouver politicos migrated to the NDP and they invited John into the Goodie Room that they all know too well:

https://www.youtube.com/watch?v=uvkuLe-s_po

The housing slide is done and the economy is solid. We got a lot of NDP to go. Hell, they might even get my vote if housing stays hot like it is.

Oracle
Guest
Oracle

Oh and those that were ridiculing me when I said they would do anything after nada in their first year: their 4th year starts this spring. Hahaha.

Oracle
Guest
Oracle

Wouldnt*. Autocorrect correcting truth spewers.

bestplaceonearth
Guest
bestplaceonearth

75% off out of speculation is data? huh? bhahaha!

Werner Stein
Guest
Werner Stein

The peddling pumping nutbars are so predictable.

When I post sound arguments, backed by data there is no rebuttal.
However, as soon as a provoked subtle, and well-deserved derision is posted, they become incensed.

Projection
Guest
Projection

You don’t post data. You ignore it.

bullwhip29
Guest
bullwhip29

Richmond man, Cheng Ian Huang, 44, sentenced to time served, equivalent to four and a half months, plus a 10 year weapons ban and 18 months’ probation for sexually assaulting a woman
https://www.richmond-news.com/news/richmond-man-sentenced-for-sex-assault-after-3-hour-police-stand-off-1.24073880

Best place on meth
Member
Best place on meth

4 months for rape for a guy who committed 6 other serious crimes is a fucking joke.

10 years would be more appropriate.

Laibach
Member
Laibach

Hmm, not that teacher should be sentenced lesser for what he did, but still quite double standards in play. Why?

“A B.C. judge has sentenced former West Kelowna, B.C., high school teacher Bradley Furman to 38 months of jail time for pursuing a sexual relationship with a 17-year-old female student and breaching multiple court orders to stop contacting her after his arrest.”

https://www.cbc.ca/news/canada/british-columbia/bradley-furman-west-kelowna-sexual-exploitation-student-jail-sentence-1.5460228

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

There’s no double standard here because they committed completely different offences. Duh.

bullwhip29
Guest
bullwhip29

this all occurring as the MSM declares the all clear signal and stock markets make new highs…surely nothing to see here….mmmm…ok

To fight coronavirus, China seizes hospitals and expels patients with other diseases
https://nationalpost.com/news/world/to-fight-coronavirus-china-seizes-hospitals-and-expels-patients-with-other-diseases

CDC prepares for coronavirus ‘to take a foothold in the US’
https://www.cnbc.com/2020/02/12/cdc-prepares-for-coronavirus-to-take-a-foothold-in-the-us.html

bestplaceonearth
Guest
bestplaceonearth
-They bash the RE industry and its stakeholders i.e banks and mortgage brokers. Meanwhile, they promote private lending (loan shark interest rate), create a group/recruit new members to bash RE and they can try to scoop up for 75% off?? !!! Conflict of interest…or…hypocrite? It’s probably the latter. Busted! -They said the market will tank 75%…but they criticize others pretending “great predictors”. Busted! -They want to be a savior to save the people, while they cannot save themselves. Busted! -Working professional realtors publish their business to the mass via their formal channels; but not hiding under the shadow of a busted anonymous. Busted, again! -PaulB has been providing daily stats to this blog before some new posters were even born. There is no publicity benefit for him from an anonymous blog. Show thank to him instead of taking a cheap… Read more »
Werner Stein
Guest
Werner Stein

Not all realtors are sleazy, a few of them publish the advance numbers they get from the RE board, and in return they get some publicity; fair game.

The swindlers however, being of low-grade character, engage in mind games, and pretend they are great predictors.

It is their loss.

They could get free publicity, but instead they hide their real identity because they are too ashamed to show who they really are.

Projection
Guest
Projection

5 years from now, you will be still whining here, wondering where did you go wrong.

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

… convinced that everybody else is a realtor.

Projection
Guest
Projection

Everybody else is. It’s one big conspiracy. Werner Stein surrounded by exclusively by realtors trying to mess with xer mind.

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

Those 126 sales yesterday? All realtors.

bestplaceonearth
Guest
bestplaceonearth

LOL!

backwardsevolution
Guest
backwardsevolution

Parasites can be good things, can’t they?

Bestplaceonearth
Guest
Bestplaceonearth

Who could have thought it got an Oscar!

Best place on meth
Member
Best place on meth

Vancouver real estate or Bitcoin, where would you invest right now if you had $100K sitting around?

Best place on meth
Member
Best place on meth

Amazingly none of you chose Bitcoin.

Nobody here knows how to read a simple chart.

Selective Memory
Guest
Selective Memory

“Vancouver real estate or Bitcoin, where would you invest right now if you had $100K sitting around?”

These are correlated assets. Both indicate money flows out of China.

Specuskeptic
Member

May I say neither/nor?

Best place on meth
Member
Best place on meth

You may, but may I say that someone has a gun to your head and makes you choose one?

Specuskeptic
Member

I’d eat the bullet and embrace the void…. LOL

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

This really isn’t going as well as you’d hoped.

Best place on meth
Member
Best place on meth

Anyone other than the 3 stooges? I should have specified they need not reply.

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

Why are you even asking? Because you want to tell who responds that they’re wrong? Because you think you have a witty follow-up comment? Because you want to show everybody how smart you are?

It’s definitely not because you’re sincerely interested in anybody’s answer.

Ad hoc
Guest
Ad hoc

So they reply anyways, right on cue. They just can’t help themselves… like trained seals.

Best place on meth
Member
Best place on meth

Notice that 2 of the morons didn’t answer the question and instead changed the subject, the other house pumper at least went straight for real estate like a fly goes straight for the steaming pile of feces.

Such a waste of time these 3 trolls are, and they take up 75% of the comments section on any given day.

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

Nobody changed the subject, you clueless twat. One of the answers was direct, the other two were implied. All were the same.

bestplaceonearth
Guest
bestplaceonearth

A neutral question earned a informative answer. But, you losers do not know how to appreciate. Be good to your mama, or she will kick you out.

Ad hoc
Guest
Ad hoc

You have informative answers?

Bestplaceonearth
Guest
Bestplaceonearth

For sure, short and to the point. Had the losers listened to me, they became winners.

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

That $100K would have bought you a condo in New West when you first started whining about high prices.

Bestplaceonearth
Guest
Bestplaceonearth

Principal residence! Nail it first.

Projection
Guest
Projection

You have been waiting on the sidelines since 2008. Sad.

Most people don’t care about making big money in real estate. They just want a place of their own. Perpetually waiting is not a way to get it.

Projection
Guest
Projection

The pattern is clear. In every area I checked, almost all sales are above assessed values. Sucks to be a bear these days. Sucks to have been a bear for the past 15 years.

Bestplaceonearth
Guest
Bestplaceonearth

You rubbed salt to their wound. Bears would tear you a part with their wicked paws.

Projection
Guest
Projection

Mt Pleasant – all solds today above assessed values.

Projection
Guest
Projection

Almost everything is selling above assessed value in North Van right now. Condos, houses etc.
Only one sale today slightly below assessed, everything else above.

A few examples:
R2369014 – sold 8.41% above assessed (condo)
R2433297 – sold 4.32% above assessed (condo)
R2431734 – sold 7.75% above assessed (SFH)
R2431308 – sold 24.65% above assessed (SFH)

Projection
Guest
Projection

West Vancouver – all today’s solds above assessed values.

Projection
Guest
Projection

Just checked Point Grey + Kitsilano + Granville Island + Fairview – same thing – all sold above assessed value, except one, which was slightly below but still way above asking.

Projection
Guest
Projection

Similar situation in West End, Downtown and Yaletown. Only one sale below assessed today and everything else above.

Examples:
R2428568 – sold 10.32% above assessed
R2430214 – sold 14.35% above assessed
R2433462 – sold 33.29% above assessed
R2430023 – sold 9.48% above assessed

Bestplaceonearth
Guest
Bestplaceonearth

Hugh shortage for entry level home.

Bestplaceonearth
Guest
Bestplaceonearth

Bhahaha, I am just laughing so hard right now!

Werner Stein
Guest
Werner Stein

I can understand your revering of real estate.
It has provided a good living, in spite of your shortcomings, whether of honesty character, intellect, skills or training.
But this gig is coming to an end, hope you saved some money.
Selling vacuum cleaners door to door is going to be a bit tighter with money.

Most importantly…..hope RE is not a large portion of your net worth.

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

Ah, the classic “if you disagree with the groupthink then you must be a realtor”.

I thought you said you were smart?

Werner Stein
Guest
Werner Stein

You real estate peddlers are subpar. Each time my brilliance casts a shadow on your ignorance you rebuttal with uncultured language and obscenities. Some of you descend in blasphemous and irreverent profanity.
Shame on you

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

Kneel before Zod!

Ad hoc
Guest
Ad hoc

you guys are cracking me up! Keep at it !

Bestplaceonearth
Guest
Bestplaceonearth

The labs needs a few monkies to test the hypocrisy vaccine. Any volunteer?

paulb
Member

New
183
Price Change
42
Sold
126
TI:9628

http://www.clivestevepaul.com

Dave
Member

A triple and only 17 new listings. Not a good couple days for bears.

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

The last 5000 days have rather sucked for them, too.

Bestplaceonearth
Guest
Bestplaceonearth

Ah, you called too early lol!

Dave
Member

The market is even stronger than I expected.

Best place on meth
Member
Best place on meth

44,753
1,112

Werner Stein
Guest
Werner Stein

I finally figured out what is going on this blog.

The Psychology Lab and Artificial Intelligence Lab are conducting an Alan Turing test.

They downloaded all the human undesirable traits ie greed, stupidity, aggression, obsession, jealousy etc., and created characters to see how long it would take human beings to discover they were actually conversing with cyber caricatures devoid of the higher-level functions such as reason.

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

Jesus Christ, every couple of years a fucking moron gets bought a laptop for Christmas by their grandkids and they decide to show up here. Somebody turn off the porch light, please.

Projection
Guest
Projection

“greed, stupidity, aggression, obsession, jealousy etc.,”

Add childishness and narcissism and it’s an accurate description of you.

bestplaceonearth
Guest
bestplaceonearth

“Also these people have a strong desire to promote the bursting of the bubble, as they really resent bear gut sporting house rich baby boomers, so it would be an advantage for you to be on the “inside” to keep an eye on things.”
“At 75% off you will be able to buy up some properties to add to your RE portfolio.
I a m recruiting people to join me on a social media blitz (sometime late summer) to grease the price slide.
Since our objective coincides, will you join?”

Any bears care to join this group? Why not invi bears and the likes?

Ad hoc
Guest
Ad hoc

Coronavirus death toll passes 1,000, as China reports most casualties in single day

https://globalnews.ca/news/6533678/china-coronavirus-death-toll-who/

This thing is ramping up. It’s not good news for the local RE spring market… 2020 will be another washout year.

Projection
Guest
Projection

Maybe, in a few years, we will see the 2013 prices that you have been dreaming about since 2012.

(But more likely not)

bestplaceonearth
Guest
bestplaceonearth

“knowledge I am imparting on you”

No thanks. Your agenda has been busted. Your group failed. What else to say!