Vancouver Condo Info | VCI Forum

Lower Mainland housing and economic issues.

1. 

   vanpro
   Member

   MOI continues to rise as sales fall in both Vancouver and Fraser Valley. See latest weekly stats from Rob Chipman:

   http://www.robchipman.net/chipmans-blog

   Using he past 2 weeks stats (that provides more data than using just the current week):

   Vancouver MOI = 7.5

   FV MOI = 8.4

   We could be on track for lowest sales for July in past 10 years (yes, even lower than credit crash year 2008).

   Posted 1 year ago #
2. 

   patriotz
   Member

   Remember that the financial crisis really didn't get going until September 2008 with the Fannie/Freddie takeover and Lehman Brothers bankruptcy.

   Sales were bad in summer 2008 (and prices had been falling since April) simply because there were no more buyers at current prices and interest rates. Which is the same reason as today.

   Posted 1 year ago #
3. 

   Drachen
   Member

   Yep, only today interest rates are at near historic lows and rising, rather than at a moderate level with room to move downwards to save the market.

   I don't think there is the political will to use the few tools left in the box to fix things this time.

   Posted 1 year ago #
4. 

   vibe
   Member

   According to http://www.yattermatters.com MOI for detached properties in Richmond is 10.5 and for Burnaby it's 12.1! Rob's numbers are for REBGV not Vancouver. So if Richmond and Burnaby are that bad Vancouver is likely lower than 7.5. Unless including attached would bring MOI down quite a bit, not sure about that. Larry will be doing Vancouver soon.

   Posted 1 year ago #

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