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Friday Free-for-all! January 19th 2018

It’s the end of another week and that means it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

Scary low inventory
Will prices flatline instead of crash?
Foreign income program rumors
Market freeze
40% of BC $200 away from not being able to pay bills
RE provides 75% of donations to Vision Vancouver
Rate hikes a big deal?

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

Mostly wrong for more than a decade.

A comment from Ulsterman to kick off the new year:

Well, it’s been almost 15 years of being wrong about this market. Yup, believe it or not back in 2003 people thought prices were too high. Yes, it’s comical now, but at the time when you watched a Commercial Drive condo go from 80k to 115k within a year, people were worried about buying at a peak….

Anyhow, 2018 certainly looks like there are many factors aligned against rising prices:

1) SFH prices have already been falling
2) rates are rising
3) more restrictive lending
4) a kinda/sorta foreign buyers’ tax
5) the upcoming stress test
6) insane debt levels

What i have learned through bitter experience is that the LM market can be incredible resilient, so i won’t get my hopes up for a really significant drop in prices, but i genuinely do think SFH’s will be cheaper a year from now. Will it make a difference to me? Unlikely.

Good luck to all of you in 2018!

Saturday Free-for-all?!?

You know how it goes…

The Christmas music starts up, you start thinking of holidays and then you wake up 2 months later with a tremendous hangover and a huge credit card bill.

Welcome to the holiday season, lets kick this off as early as we can!

This week it’s going to be a Saturday free-for-all. Our regularly scheduled open topic discussion thread was delay.

Carry on!

Canadian economy struggles dragging down looney 

The Canadian economy isn’t looking so hot lately, perhaps we need more stimulus. How low can the looney go?

Canada’s currency extended declines after the report, falling 0.5 percent to C$1.3552 against its U.S. counterpart at 9:24 a.m. Toronto time.

The GDP numbers add to recent indicators showing low interest rates and a program of federal government stimulus are so far failing to spur a recovery. Inflation slowedto a 1.2 percent pace in November from a year earlier, the statistics agency said Thursday, a softer reading than economists forecast, with one measure of core inflation slowing to the lowest level since 1996.

Read the full article over at bloomberg.