It’s that time of the week again…
Friday free-for-all time!
This is our regular end of the week news roundup and open topic discussion thread for the weekend.
Here are a few recent links to kick off the chat:
–Sceptical of CMHC data?
–Langley Condos at 2006 prices
–Canadas random success story
–A bubble in renters?
–Market peak
–Oil prices on housing a ‘wild card’
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
Hey, looky here!
It’s Friday o’clock!
That means it’s time for our regular end of the week news roundup and open topic discussion thread for the weekend. Friday Free-for-all time!
Here are a few recent links to kick off the chat:
–22 Months since the peak
–34% of Canadians ready for bid war
–A good investment?
–Good luck with that
–Fake CMHC on twitter
–Maybe a bit too much debt
–Ping Pong Pricing Protocol
–The sunshine coast in 2014
–Richer yet poorer?!?
–
So what are you seeing out there? Post you news links, thoughts and anecdotes here and have an excellent weekend!
It’s that time of the week again! Free-for-all time!
This is our regular end of the week news round up and open topic discussion thread for the weekend.
–Vancouver bubble does its own thing
–VancouverPriceDrop is back
–Buy or Rent?
–A Vancouver Calculator
–Locals bid up prices, blame outsiders
–Latest stats, 21 months since peak?
–Singapore headed for Iceland style meltdown?
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So what are you seeing out there? Post your news links, thoughts and anecdotes here and have a great weekend!
*The blog doesn’t think. The blog is made up of comments from thousands of different people, some of whom agree with one another, some who don’t.
b5Baxter posted the following comment, an update to prices for the end of November 2013:
REBGV stats are out.
We are now into month 19 since real estate peaked in Vancouver.
We are down 3.54% in nominal terms since the peak and 5.83% in real (inflation adjusted) terms.
If you bought a house in Vancouver in November 2009 (4 years ago) you would have been better off putting your money in savings account (before transaction costs).
In fact if you bought a house back in April 2007 (over 6 years ago) you would have been better off putting your money in a savings account.
So Vancouver Home Prices are basically back where they were in 2007 compared to a savings account.
City by city data for US markets is just out showing how much prices fell in the year and how far they’ve come down since the market top. Here’s what last year looked like in some major US markets:
South of the border: city -by-city breakdown of latest Case-shiller data
Las Vegas: Prices down 8.8%, and 61% below peak.
Los Angeles: Prices down 5.2%, and 41% below peak.
Miami: Prices down 3.8%, and 51% below peak.
New York: Prices down 2.9%, and 24% below peak.
Phoenix: Prices down 1.2%, and 55% below peak.
Portland: Prices down 4%, and 29% below peak.
San Francisco: Prices down 5.4%, and 41% below peak.
Seattle: Prices down 5.6%, and 32% below peak.
Remember, it’s not a bubble, it’s a balloon. Balloons don’t pop, they deflate. Slowly over the course of many years.
Hat tip to VMD for the link.