Well here we are at the end of another work week. That’s means it’s time for another Friday free-for-all!

This is our open topic discussion thread for the weekend and news roundup. Here are a few links to kick off the chat.

-Genworth nears limit
-Canada should learn from Ireland
-Rich white men decide what’s racist
-US prices fall short of expectations
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So what are you seeing out there? Post your news links thoughts and anecdotes here and have a great weekend!

Swimming with ideas

July 30th, 2014

Looks like there may be another chunk of land that will give developers that claim they love: the last waterfront development available in Vancouver.

The 40 year old aquatic centre is up for grabs, but the city does want a new one built – they’re looking for bids and ideas for a big chunk of land downtown:

News of the potential arrangement — still a long way from reality — caught many off guard Wednesday, even though it’s contained in a city information package that has been available to potential buyers since May 12.

The city has invited offers on 12 parcels of land contained within the Granville Bridge’s northeast off-ramp and loop, which will be decommissioned and removed.

The land has a total assessed value of $36.14 million and bids from potential buyers are being accepted until Aug. 15.

The city’s “invitation for innovative offers” on the site notes it wants a “renewed” Vancouver Aquatic Centre on the property, to be built by a developer and transferred back to the city for a nominal fee of $10.

Read the full article here.

Posted in BC, supply | 39 Comments »

Friday free-for-all!

July 25th, 2014

Here we are, the end of another week!

And what do you know, there’s been some rain in the rainforest lately.  Well what a bummer.  I can think of a lot worse places to be- like down in the streets, or down in the sewer… or even on the end of a skewer.

Lets get to our open topic discussion thread for the weekend, here are a few links to kick off the chat:

-How to protect yourself from a bubble
-Money into REITS instead of condos?
-City median income to average price
-BC tax revenues drop
-Greenspan: no stop without crunch
-Zillow to absorb Trulia?
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So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Friday Free-for-all!

July 18th, 2014

Summertime!

And the weekend is nigh!

Let’s do our regular end of the week thing – our news round up and open topic discussion thread for the weekend.

Here are a few links to kick off the chat:

-Lenders ‘concerned’ about bubble
-Rent VS. Buy in Canada
-How well managed is the CMHC?
-Canada not immune to a crash?
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So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Are home buyers foolish?

July 16th, 2014

Seems a rather odd question to ask, after all homebuyers have seen a sharp rise in equity over the last several years.

But a sharp correction in the US seems to have split young buyers on the option of buying.

Some see it as a good investment, but there are apparently increasing numbers of young Americans who view property as an anchor limiting mobility rather than a sensible investment.

When Kimberly walked up to the front door of a beautiful, 7,500 square foot colonial, anchored in a terrific cul-de-sac in northern Baltimore County, she said to herself: “All my life I thought this was what I wanted. But as beautiful as this property is, I see nothing but a money pit and a trap.”

The 32-year old congressional aide who was arriving at the house for a charity event chose to satisfy her curiosity by exploring the grand rooms and perfect fixtures, only to finally decide, “Yeah, not only would I never buy an individual house, I’d be shocked if my friends would as well.”

Read the full article over at CNBC.

You might want a housing market crash (or ‘correction’ if the word ‘crash’ is too strong), but that’s likely because you want to buy a house.

It’s not hard to believe that the majority of Canadians don’t long for a housing market correction, especially those who own property.

It feels good when your equity rises right? What’s not to like?

The Financial Post looks at these feelings, and whether they are sensible or not.

They split home-owers into three categories: First time buyers, young owners with growing families and older owners thinking about downsizing.

They say the first two groups would actually benefit from a crash.

If you’re wondering why most homeowners should be begging for a housing market crash read the article here and let us know if you agree with their reasoning.

 

Friday free-for-all!

July 11th, 2014

Its that time of the week again!

Let’s do this open topic discussion thread for the weekend.

-well add links when we need shelter from the sun :)

So what are you seeing out there? Post your news links thoughts and anecdotes here and have an excellent weekend!

Does every major asset seem expensive to you right now?  Does it seem overpriced?

Well, what if it is, where do we end up?

The NY Times has an article titled How The Everything Boom might end: The Good, Bad and the ugly.

Basically it breaks down into (1) the good: Low price of capital unleashes productivity, economy grows into current valuations. (2) The bad: Japan style stagnation 15 years of low rates and low returns or (3) the ugly: spike in prices with a depressed economy.

But the pattern of the last few years shows that the “bad” scenario has been closest to the reality. That doesn’t mean the rest of the bad script will continue in the years ahead, but it should prompt those predicting the first or third outcome to wrestle with why they have been wrong so far.

So what do you think? Whats the future look like from your view point and would it have been any easier to predict the future in the past?

*pow!*

Another weekend is upon us!

Let’s do our regular open topic discussion thread for the weekend, here are a few links to kick off the chat:

-Realtor hunger index at 48%
-creative accounting
-prices of the past?
-risks of overheated market
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So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Village Whisperer has been following the MAC-gate ‘fake foreign buyer’ story for a while and recently reported the Real Estate Council of BC decision in that case: a temporary suspension and small fine for one Realtor.

But what about the other MAC employees who played rolls in this story, why no repercussions for that deceit?

Here’s the loophole: condo salespeople who are not realtors are not ruled by the Real Estate Council and can apparently make any claim they want before passing a potential buyer off to a realtor to sign the legal documents.

Read all about it over at Whisperers blog.

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