eyesthebye at RE Talks 25 Nov 2010 10:24am – [commenting on the Globe and Mail article on Chinese buyers of RE in Vancouver] “Sobering article if you’re a bear looking for a price drop. Most people I know who bought a single family home here in Vancouver did it in 2009 (spring and summer). They are dual income professionals born in Canada. I only know of 1 such couple who bought a SFH this year (August) and they paid some 150K more than if they had done it last year. Same kind of transition happened in Banff with foreign buyers and tourism. I know many wealthy caucasian families who’d been there for generations that decided to pack up and move their vacation homes to Kananaskas. So bears…off to Abbotsford?” [This poster has elsewhere described how they themselves bought a SFH in east Vancouver in early 2009. -ed.]
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You might like this; a story from the Florida
http://www.hoocoodanode.org/node/11549
Cobradriver wrote on Fri, 11/26/2010 – 3:22 pm
How about a price check from SW Florida?
My sisters FIL just bought a place 3 months ago in Bonita Springs. At the height of the boom a guy showed up at his place on Marco Island and offered him 2.5M. He had paid less than 100K a few years prior. Needless to say he told the wife to pack their shit and get ready to be renters…
FFW 4 years…He bought a place in a neighborhood that was 1.4M to 1.6M during the boom. He spent a whopping 495K.
For a never lived in,picture perfect home. Just shy of 4K sq ft. I will say that it has the largest screened lanai I have ever seen. Probably 70ft by 65ft…with a matching pool…
He mentioned his neighbors freaked out when they found out what he had paid…
How long till his neighbors hand the keys back to the bank? Is a cool million enough to default and ruin your credit???
Chris
Reason has been thrown out the window, it’s all emotions and feelings now!
“it’s all emotions and feelings now”
Don’t take too much stock in this particular Realestatetalks poster. The poster consistently tries to justify why prices are only going up because he/she bought a couple of years ago when prices were at a local minimum. Reminds me of a schoolyard bully taunting people when they’re really hiding inner frailties.
I hope vreaa posts some of this poster’s comments in the coming years as they will be nastier and nastier as time goes on. Already there are signs eyesthebye’s skin is becoming a bit thin.
eyesthebye will probably simply stop posting in years to come; some of their quotes are archived in the ‘Bull Hubris’ sidebar.
I don’t think she/he will. This particular poster really needs affirmation s/he made a good investment. That’s a dangerous emotional position and one that needs repeated attention. If prices fall the desire to be right will increase.
Classic co-dependent. RET is more than happy to serve.
Possibly.
Although it is more likely that, when prices fall below the 2009 lows, this poster will tell themselves stories like ‘money-isn’t-everything’, ‘paper-losses-are-meaningless’, ‘as-long-as-I’m-paying-my-mortgage’, etc etc.
And they will further rationalize that life is too short to spend it talking about RE.
In other words, I suspect it is more likely they go into denial and disappear, than for them to hang around and actually have to face their errors and their predicament. This way they’ll probably even be able to still tell themselves they that somehow they were ‘right about Vancouver RE’. They will have an immense amount of trouble admitting they were wrong, and hanging around on forums will force them to do that.
I notice that a good number of Victoria and Vancouver Island bulls have already disappeared from RE Talks — and that has happened with the mere suggestion of the beginning of the end in Victoria.
After bubbles burst many people find it very difficult to acknowledge that they’d been sheep all those years.
“I notice that a good number of Victoria and Vancouver Island bulls have already disappeared from RE Talks”
It doesn’t mean they aren’t reading!
and this poster has proven him/herself right by purchasing a place in vancouver. what have you done? keep posting away!