Prices drop, but not as much as sales

Southseacompany pointed out these latest stats.

According to the Real Estate Board of Greater Vancouver the typical Vancouver home lost $7,600 in value last month.

Sales are where the big drops are being seen though, they dropped more than 30% from the previous month and more than 40% from the previous year.

Read more here.

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[…] good news: Mortgage rates have never been […]

bullwhip29

A man caught in Sechelt Inlet with more than the legal limit of oysters, sea cucumbers and whelks, has been fined $3,000. Zi Yin Liu was ticketed May 1 on three counts of catching and retaining more than the daily quota
https://www.coastreporter.net/news/local-news/more-large-fines-for-illegal-fishing-1.24149978

Two other cases that went to sentencing earlier this year resulted in fines of $5,000 or more. Qian Chen was found guilty Feb. 26 on one count of catching more than the daily quota of rock fish near Pender Harbour in 2019. On Jan. 24, Yu Rang Tang and Deli Gao were found guilty in a case tied to illegal fishing in the Egmont area in 2018.

Big Bear

SIDA’s relatives?

southseacompany

“Canadian Mortgage Rates Hit All-Time Low”, Huffington Post

https://www.huffingtonpost.ca/entry/mortgage-rates-canada-housing_ca_5ee0f6cdc5b6147d6025a7c4

“Unfortunately for buyers, those rock-bottom rates come just as new mortgage insurance rules come into place that will reduce the maximum purchase price for buyers who have less than 20 per cent for a down payment.”

“The new rules to qualify for mortgage insurance from Canada Mortgage and Housing Corp. (CMHC) are expected to cut the maximum purchase price for borrowers of insured mortgages by up to 12 per cent, more than offsetting the drop in mortgage rates for those who can’t come up with a 20-per-cent down payment.”

Alberto

Critical,alert critical alert :
Inventory swell in progress
Vector 2000 predicts (Semi ai excel algo)
New 305
Sold 59

Dave

Your model failed big time yesterday. Fingers crossed for today.

Oracle

My final post here.

Life can change in a second. Housing is secondary.

Good luck to all.

Laibach

Meanwhile in Richmond…

The owner of a $155,000 Mercedes-Benz was so incensed with the service he got from the Richmond dealership that he flew all the way to the luxury car giant’s German headquarters just to complain.

https://www.vancouverisawesome.com/vancouver-news/richmond-man-flew-mercedes-benz-germany-complain-unsafe-car-2420982

Best place on meth

Instead he should have flown to Mexico where the vehicle is made and berated the workers on the assembly line in mandarin.

“Que?”

Laibach

Oracle, are you an insider? How did you know what brothers are up to?

Federal NDP Leader Jagmeet Singh said Tuesday that the legislation the Trudeau government plans to introduce on Wednesday is “wrong-headed.” Singh says new criminal penalties will hit poor and racialized people harder by imposing fines or prison terms for people who made fraudulent claims under the Canada Emergency Response Benefit (CERB).

https://globalnews.ca/news/7047067/trudeau-singh-ndp-cerb-reform/

Oracle

Jasmeet has lots of friends and family who are also my friends that applied to Cerb. Free money man. I got Cerb 4x’s already. Apply for more tomorrow. Life is good.

Best place on meth

“racialized people”?

What is this nonsensical garbage that the idiot from the marxist party is spewing?

This idiotic clown is such a massive downgrade from Jack Layton.

Laibach

He is either very stupid or desparate for exposure? Sucking up to thieves who stole the taxpayer’s money and pulling the race card because it is trendy, what a moron…

https://www.cbc.ca/news/politics/cerb-repayments-claims-tips-abuse-1.5605838

Best place on meth

Gilead’s remdesivir slows disease progression in monkeys with COVID-19

https://www.cnbc.com/2020/06/09/gileads-remdesivir-slows-disease-progression-in-monkeys-with-covid-19.html

So it should work flawlessly on blm and antifa members.

Werner Stein

LOL
Another triple , and sales still in the basement.

Beer gut sporting boomer RE pumpers, move over this is how RE is peddled now-hookers and all.

The fridge magnets and notepads won’t cut it.
https://www.youtube.com/watch?v=tbwoigNVeKU&feature=youtu.be

paulb

New
249
Price Change
68
Sold
69
TI:11366

http://www.clivestevepaul.com

Dave

61 net new listings isn’t a win.

Dave

For bears. 39 short of the bar.

Oracle

Since Trudeau not going after people from India like me, I applied for cerb 3x’s today. It says I will get 3 extra cheques at the end of the week. Tomorrow I apply more. Why work when I can get free welfare quick & easy & a lot too. I think I will order some specialty samosas with gold lead sprinkles on it. Yum. Stocks can only go up, never down. Made 200K today on Amazon stocks & 500K on Walmart stocks. Times are good. Why work when I just take. I’m going to buy another penthouse tomorrow.

Bag it and tag it

Not a win for the pumpers. I would have that all that ‘pent up demand’ would have shown up in the stats by now.

Big Bear

Lots of new listings for June.

Alberto

Critical alert critical alert
My algo identified and significant increase in inventory capitaL flows.
New inventory could reach 400+ today with less than 50 sales.

Oracle

That would be welcome news in all this bullish news.

Rod Chimpman

Keep us posted Alberto

Dave

If that’s the case and you get a few more weeks of that, then the bear case is still alive. Bears really need to have a strong June. If the listings don’t surge this month, it’s simply not going to happen. Bears have had a good start so far, but that upward trend has to continue.

The question about these listings that you now have to ask is how many were delayed listings from people that would have listed in March, April and May and how many are economic related listings? I haven’t thought about that yet, so I have nothing to offer at this point, but I will be watching for signs either way.

Big Bear

“If the listings don’t surge this month, it’s simply not going to happen.”

Reducto ad Perfectum.

If something doesn’t happen exactly like I said it sould, it will never happen.

Dave

Well it’s common sense to a thinking man.

Shut It Down Already (original)

Foe what it’s worth, which isn’t much, DOM stats suggest Vancouver sales are hotter than they were a year ago.

Best place on meth

So far listings up 49% over last month, 260 per day vs 175.

Sales are up only 6%

Oracle

Breaking News: Turd said he’ll likely extend CERB!!!

Get yours while you can!! Free money for landlords!!! LOL

Oracle

More breaking: NDP Jagmeet Singh just said they wont support legislation that fines/jails people for illegally taking CERB!!!

Wowowow. More people going to get it.

Big Bear

And? The Cons and Libs will vote for it.

Oracle

LOL. Best you stay silent here.

Best place on meth

Jagoff can go fuck himself.

What a cocksucker demanding that taxpayer money be given to cheaters and thieves.

Alberto

I have been working on algo to estimate sales and New listing per day. I use software called excel to make it. Today prediction based on first 2 hours : 286 New 65Sokd
Lets us see if valid

Oracle

NASDAQ just hit 10,000!

Houses are undervalued compared to stocks.

Thanks to the fed and fiat system, i can see average detached prices of $5 million in lower mainland within 15 years.

Print print print

Wages are irrelevant. Buy assets, hold, and then create crises and get more money printing thereby pushing up asset prices even more. Hahaha.

This is why i believe the gov will never let Van and Tor housing prices to ever fall again.

Too big to fail. In all respects; voters, economy, accepting immigration, etc.

Dave

My number was $4.7M for Vancouver. 5.5% growth per year for 15 years and average home is $2.1M now.

Surrey will be about $2.5M in 15 years for a house.

Oracle

This is where i disagree.

I can see the Indian population overwhelming the Chinese population here. As it happens, Chinese will stop coming to Vancouver. Right now, Indian immigrants outnumber Chinese by 3-1. It will soon grow to 5-1.

And Fraser Valley is where its at for them. So prices may become close to Vancouver prices.

Dave

AMZN having a good day today.

Bag it and tag it

Congratulations on that one stock you own. You finally diversified from real estate.

Best place on meth

And a P/E of just 275 to boot.

What an undervalued gem Dave has discovered.

Shut It Down Already (original)

Amazon reinvests heavily in future growth, so present (and past) earnings are artificially low.

Everybody knows that.

southseacompany

“World Bank predicts worst recession in 80 years amid coronavirus”, Financial Post
https://business.financialpost.com/news/economy/world-bank-predicts-worst-recession-in-80-years-amid-coronavirus

“The global economy will contract the most since World War II this year due to the COVID-19 pandemic, reducing incomes and sending millions of people into poverty in emerging and developing nations, the World Bank said.”

““This is the first recession since 1870 triggered solely by a pandemic, and it continues to manifest itself,” Ceyla Pazarbazioglu, the World Bank’s vice president of equitable growth, finance and institutions, told reporters by phone. “Given this uncertainty, further downgrades to the outlook are very likely.””

Troll Tracker

I wonder if the World Bank uses metrics like Charlatan Chippy’s traffic data to forecast.

Oracle

Southsea: quit posting doom and gloom stories. Balance your stories out. You have created group think in this blog and many have made the wrong decisions because of it. Just like Garth.

southseacompany

“National Bank Of Canada Forecasts Sharpest Real Estate Price Decline Ever”, Better Dwelling
https://betterdwelling.com/national-bank-of-canada-forecasts-sharpest-real-estate-price-decline-ever/

“One of Canada’s Big Six banks is joining the CMHC and credit risk agencies in forecasting lower prices. National Bank of Canada (NBC) economists expect real estate prices to make a sharp drop this year. The bank is calling what would be the largest price drop in Canada’s history, with Toronto and Vancouver hit hardest.”

“The bank’s economists note during recessionary periods, immigration voluntarily declines. This trend is observed in all three previous recessions, and expected to occur in this one.”

Oracle

Better dwelling has been so wrong the last 5 years. Just saying.

Oracle

9% decline? LOL. So back at 2019 levels then?

Shut It Down Already (original)

Only 5 years? They need to up their game if they want to compete with some of the alpha clowns here.

Laibach

Oracle, this could be a problem now for some who followed your wise advice about grabbing free money and getting ahead. You certainly had good intention but probably miscalculated something.

CERB fraudsters could face fines or jail time, draft bill shows

https://www.ctvnews.ca/mobile/politics/cerb-fraudsters-could-face-fines-or-jail-time-draft-bill-shows-1.4974953

Best place on meth

CERB fraudsters will likely be ineligible for loans and mortgages for quite some time as well.

It was an incredibly bad idea to offer $2000 a month free money to people who made as little as $5000 last year.

I’ve been told by parents that friends of their teenagers are collecting CERB because they made just over the minimum at summer jobs last year, and they are buying used BMW’s with the money.

Oracle

Cmon BPOM. You still haven’t figured it out. They will give people like you headlines. What you people dont see are the loopholes they leave in purposely.

They will give out mortgages. No care for cerb. Why wouldnt they when you backstop the profits?

Oracle

NDP will shoot down law. Wont pass. That just said it.

Bag it and tag it

The good news is that stimulus was put in the hands of the right people, if that’s the case, since they’ll spend every penny of it when the economy needs it most. I’m more concerned about medium to high net worth people applying for it. There should have been a need requirement on the application so that people that may have lost their job can’t apply if they don’t need the money to make ends meet.

Oracle

Oh crap. I just sheit out all my lucky charms seeing that. Have to stick them up back in. Don’t know what to do. Everyone in my family got CERB, all bros, sis’s, mom, dad, granda, granma, cousins, nephews. Hope we don’t go to jail and sent back to India. You know what, that is all fake news. Trudeau loves brown people and yellow people and won’t punish us. He will only punish white people cuz that is not racist. We win. Ohwowowowow……. yeah.

Laibach

Fake Oracle, the real one has sense of humor. You should still work on that.

Oracle

I share with you my warmnew chocolate-coated marshmellow lucky charms. You can share with your family. It melts in your mouth. Trudeau will take away from whites their CERB cuz that is not the racist thing to do. We get to keep it. That means curry dimsum for breakfast, lunch, and dinner for all of us and none for you.

Oracle

Feel threatened by my words? They are to help you moron. Too dense to figure that out.

Bag it and tag it

What do fake and real Oracle have in common? I don’t read either of their posts.

Oracle

Did i hit a nerve speaking the truth. Imposter!

Oracle

They wont prosecute anyone. You haven’t learned anything; the herd breaking laws don’t get prosecuted. The gov would lose voters and thus power.

Follow the herd. They become too big to fail.

The minority always get crushed.

Troll Tracker

New
346
Charlatan chippy is right I did notice heavier traffic today, hence a correlation and possibly a causation of increased RE activity.
Simply genius.

Oracle

Dow Futures up again.

Politicians now writing statements such as these:

“ Can’t catch it from surfaces. Can’t spread it through asymptotic carriers…. what’s all this bullshit been about?“

WHO just announced this.

Shut It Down Already (original)

Nothing to do with the trillions of dollars of stimulus then? LOL

Oracle

Breaking News: Movie theatres open this Friday.

So much for the virus LOL

Best place on meth

Oh yeah? What’s playing?

Another fucking superhero movie and some shit from Disney?

I hope people come to realize that they didn’t miss that garbage and never go back, same with pro sports.

Oracle

Just pointing out how many people got duped by the virus hoax. Me included until about a month ago.

Big Bear

So? They’ll be full?

Oracle

Breaking News:

Family members of Permanent Residents and Citizens now allowed through borders. Trudeau announces border opening.

Next step is foreign students in a few weeks. Then rents go vertical. Just watch.

Werner Stein

Another triple
LOL

also:
“Shut It Down Already (original)
1.99% 5yr fixed available from HSBC”

Must be because of the overwhelming demand.

Alberto, you better start winning the bidding wars, we are running out of land and sky.
And all the Asian criminals will be moving here.
Hurry .

Oracle

Minion 101:

Minions cheer CMHC policy changes.

Few days later: Genworth and others say we aren’t following the cmhc government policies. Stock goes vertical. Thus nothing really changed. Whats clear is they are trying to wind down cmhc and give the business to private lenders. Stocks can make gov insiders rich!!

Minions the next day: but, but, but you just wait.

Its clear minions, the problem is you are getting your news from the wrong sources. Switch them up..

Oracle

Prediction: cmhc will be wound down. Because all the mortagages they hold will have at least 20% equity within a few years. All of them!

Best place on meth

That means much higher mortgage rates if the whole business goes private.

Oracle

All I’m pointing out is that insiders make money via these changes. Cmhc wouldnt dare do it for the people who need to buy.

paulb

New
346
Price Change
72
Sold
58
TI:11305

http://www.instagram.com/clivestevepaul

Best place on meth

Wow!!

+163

franko

Awesome numbers, especially the PRICE CHANGES!!!

Oracle

Higher or lower? That data is needed. In the valley, many prices higher now because pandemic and riots are over.

Shut It Down Already (original)

Most prices changes are down. Upwards price changes are rare / the seller simpler accepts an over ask offer.

Dave

Win for the bears. Listings well above my threshold of 100 and low sales. Can it continue?

Best place on meth

Last week listings were 39% higher than the week before, sales 3% lower.

This week is starting off with an enormous 6:1 ratio

But, listings are in real time and sales lag by a couple of weeks so we’ll see if those numbers start to catch up as the month goes on.

Alberto

Why is sold number less than new number?

Big Bear

Bearish numbers for June. The TI goes down at this time of the year usually.

Werner Stein

Genworth Canada says it won’t follow CMHC in tightening mortgage insurance eligibility

https://www.ctvnews.ca/business/genworth-canada-says-it-won-t-follow-cmhc-in-tightening-mortgage-insurance-eligibility-1.4974382

Good news, CMHC is effectively diverting subprime borrowers to private lenders, who cannot simply give the bad loans to the Bank of Canada to bundle the junk bonds into triple A bonds.

The beginning of the unraveling of the credit bubble.

Oracle

Aliens are coming too!!! Wait for that. It will make the virus crash look like nothing. Hehe

Strata hacker

Every day is a new beginning for your new delusions. Day after day year after year you are always wrong, Werner the chump.