Bear Baiting – “It’s the whole tone the bears take when presented with a good deal. This home couldn’t possibly be priced in my range because, it’s a dump, it has two alleys, it’s close to commercial buildings, yadda yadda yadda.”

Those bullish the market are cajoling cautious prospective owners by claiming that they simply don’t have the fortitude to buy, or that they have over-inflated and unrealistic ideas regarding the quality of housing they deserve. -vreaa

Main Photo: For Sale: 625 E 24TH Avenue Vancouver Fraser VE : Residential Detached

eyesthebye at RE Talks 9 Feb 2010 started a discussion headlined “Great Deal on this SFH in Main area” by referencing the above house (625 E 24th Ave; built 1910; 1490 sqft + 800 sqft unfinished; 33×122 ft lot; asking price $679K) and claiming that it was a “great deal”, that ‘sweat equity’ would add $300K-$400K to its value, and also offering to bet that it will sell for $100K over ask. Debate as to the desirability of this property ensued, regarding construction quality, age of the structure, neighbourhood, proximity to commercial area, and even the property’s Feng Shui. At that point the original poster objected to all the objections by saying: “It’s not just the discussion itself – it’s the whole tone the bears take when presented with a good deal. Like argufying themselves out of the market. This home couldn’t possibly be priced in my range because, it’s a dump, it has two alleys, it’s close to commercial buildings, yadda yadda yadda. If prices were 50% cheaper bears would still talk themselves out of buying somehow” and “This home might be [only] a half great deal to you – but your opinion doesn’t coincide with this market. Most buyers would probably tell you that being able to buy a decent home under assessed value constitues a great deal – at any time.” Poster dot com refugee pointed out that the house seemed “bloody expensive”, to which jimtan replied “Move to Windsor! You’ll love it there!!!”.

3 responses to “Bear Baiting – “It’s the whole tone the bears take when presented with a good deal. This home couldn’t possibly be priced in my range because, it’s a dump, it has two alleys, it’s close to commercial buildings, yadda yadda yadda.”

  1. Best place on meth

    There is no such thing as a good deal in Vancouver. Everything is massively overpriced and will correct severely.
    Cheerleading morons like eyesthebye and jimtan may not understand this and continue to spew their ignorance, or they do understand and continue to spew their lies in the hopes of enticing even more greater fools into the Ponzi sheme.
    Why?
    Because they own real estate and want it to continue rising.
    Cheerleaders are useless and shameless and should be ignored.

  2. You bears have been wrong for so long and will continue to be, it’s getting embarrassing.

  3. Pingback: Bull Hubris?… Or Appropriate Owner Confidence?: “Fundamentals don’t apply to Vancouver. Real estate has detached itself from economic reality long ago. It has reached escape velocity to break away from economic gravity. It is a beautiful case study.

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