Tag Archives: Canada

Friday Free-for-all!

It’s Friday!  Take off your pants and do the happy dance!

Agh! No, wait!  Metaphorically.  Please sir, put your pants back on, this is a family restaurant.

Anyways, it IS the end of the week and do you know what that means? It’s time for another end-of-the-week news round-up and open topic discussion thread.  A little thing we like to refer to as the Friday Free-for-all!  Here are a few recent links to kick off the chat:

Canada prices up, Vancouver falls again
Inventory graph (March 29th 2012)
The boomer trigger
New budget slashes $5.2 billion
Ottawa to toughen CMHC oversight
This rant brought to you by Gordholio
TD: don’t worry about the banks
Banks tighten condo lending on bubble fears
The 3-inch condo is here
Vancouver seeks more market housing
Storm clouds form over Vancouver market

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

Friday Free-for-all Spring Break edition!

Spring Break! And it’s that time of the week again, time to do our regular news roundup and open topic discussion thread for the weekend.  Here are a few stories to kick off the chat:

CREA predicts sharp price drop in BC
Canadian prices to ease this year
Vancouver to push down national avg.
Should you sell your condo today?
Inventory rocket still rising
Is there a Dr. Kevorkian for condos?
Economists warn of overheating market
Van sales jump 61.4% in February 2012
Toronto has highest condo asking price
Casey Serin
Big Discount Mortgage Blow-out sale!
Buy Britney Spears house for $4 mil off
Possible Condo Glut coming
Buy a nice house, forget about retiring
Vancouvers demographic timebomb

And of course it’s spring break time!  Is this the week to get out of town and explore the world or are you sticking close to home?  Is it vacation time lounging by a pool or is it just a hassle to find childcare and another week of office drudgery?  At least the sun occasionally shines, spring is in the air!

So what are you seeing out there?  Post your news links, thoughts and anecdotes here and have an excellent weekend, week and spring kick-off!

Prices before and after a housing bubble.

The Vancouver real estate bubble is getting attention from outside Canada again.  This time Mish is in Business Insider comparing current prices in massively overpriced Vancouver to what the same price gets you in post-bubble Ireland.  The difference is rather large.

There are some pretty nice houses you can get in Vancouver for only $890k!  Two of them are even potentially liveable and one has even had some upgrades.

The post-celtic-tiger property is pretty decent as well, and a fair sized discount from the original asking price of $6 million.

Now clearly what happened in countries like Ireland was that people who should not have been were extended credit.  Lots of credit.  And since property prices were rising they were viewed as ‘can’t lose’, until they lost.

Have we made credit too easy in Canada, or are we more sensible than that?

UPDATE: reader Anonymouse pointed out that Mish comparing a hotel to a single family home is not a fair comparison. In response Many Franks posted this link about home prices in Donegal from last September:

The average price of a new home in Donegal is estimated at €179,000, representing a drop of 43pc from peak values. New three- and four-bedroom semi-detached houses are cheaper than in most other parts of the country, with averages estimated at €128,800 and €155,000 respectively.

Second-hand homes are estimated to average €165,800, down 3pc from last April and a drop of 41pc from peak values. The cheapest second-hand apartments in the country can be found in Donegal, with the average price of a one-bedroom apartment estimated at €50,000, and €57,500 for a two-bedroom apartment.

 

Friday Free-for-all on the new site!

Hello everybody, it’s Friday and you know what that means.. It’s Free-for-all time, our end of the week news roundup and open topic discussion thread.

Here are a few recent stories to kick off the chat:

BOC warns of ‘debt shock’ if house prices drop
Inventory graph: growth slowing but still steep
RRSP contributions shrink to 1970s levels
Mortgage fraud blooming in Canada
Our debt vs. pre-meltdown levels in USA
Housing Collapse in mississauga. literally.
Shill article linked by Forbes gone from Vancouver Sun?
First time buyer bonus to make a difference in suburbs

If you haven’t been here for a few days you’ll notice some changes. We’ve done a full site overhaul and upgrades and that just might mean somethings aren’t fully working yet.

Please post any issues in the comment section.  We can’t promise they’ll all be addressed, but we’ve been pretty good about responding to requests so far.

A few new things of note:

Formatting Numbers:

For those that like to post numbers in a table format, we’ve added the PRE html tag to help control formatting and a new comment preview button at upper right of the comment box.

This new comment workaround and preview system might help when you’re posting number data.

Avatars

For those of you that don’t like Gravatar, we have a new local avatar feature. When you log into your VCI account you’ll see your user profile edit page. Scroll down to the bottom of the page and you’ll find a place to upload an avatar.

User Account Cleanup

We’ve had lots of spam account signups lately and we’re starting to purge the user roles for both cleanliness and security. The best way for you to confirm that you’re human is to post an on topic comment after registering for an account. If you register for an account and don’t post any comments your user account will be deleted, especially if your registration email goes to something like spammer@wowfreemoney.con

That’s about it for now, let’s get on with the conversation.

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

 

Update: Patriotz linked to this image of the Macleans March 5th cover, it’s a doozy: