Vancouver Magazine, April 2011 Cover. [hat-tip Don]
Similar in design to Georgia Straight, Nov 12-19, 2009, Cover:
At some point gravity will step in, but we have grown weary of predicting when. – vreaa
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Vancouver magazine is probably the most vacuous tribute to materialism in print. And I’m not even talking about their commentary on real estate.
does anyone have/know of a link to the article? and can post it? thanks
We, too, haven’t seen the article yet; will headline excerpts when available and if relevant.
Nice! I honestly think this is the final contrarian indicator. Between this cover and GT buying the RE bust must be mere days away…
“the RE bust must be mere days away…”
In certain parts of BC, the “bust” is in full swing. Nobody likes talking about it, though. It ruins the mood and with certain publications “bust” means something different anyways, especially near the back.
Actually, these magazine covers are buy signals if recent history is any indication. Vancouver RE prices have gone up 10% since the GS issue…
Yeah, they certainly are not reliable contrarian indicators.
The rocket metaphor is a good one, though.
We anticipate the top-of-the-parabola pause, and a plummet back to earth.
We are seeing it in the precious metals. I think another month or so of parabola and then I will cash out and your USD will get it’s bounce.
Deflation is around the corner with oil at new highs. Might be the trigger you are looking for.
Agreed.
Impossible to time.
It looks like the stock-markets have rolled over/topped/distributed (bounced but failed to pass new highs). We expect a deflationary wave will take these down together: loonie, oil, stocks, PMs, RE, emerging markets. Perhaps Chinese RE at same time.
USD will bounce. Sentiment for USD at record lows. 93% of traders are bearish the USD (you know what that means).
Some great contrarian headlines today:
‘Toxic Dollar: Why Nobody Seems to Want US Currency’ (CNBC)
‘Gold is a “no brainer”‘ (Alan Newman, FSNewshour)
[One should be most interested in an asset when 'nobody' wants it. And Gold was only truly a "no brainer" in 1999 at $250 (when NOBODY liked it). The markets never let a significant number of folks make significant money on 'no-brainer' trades.]
[CommonDreams] – Why the United States Is Destroying Its Education System by Chris Hedges
“A nation that destroys its systems of education, degrades its public information, guts its public libraries and turns its airwaves into vehicles for cheap, mindless amusement becomes deaf, dumb and blind. It prizes test scores above critical thinking and literacy. It celebrates rote vocational training and the singular, amoral skill of making money. It churns out stunted human products, lacking the capacity and vocabulary to challenge the assumptions and structures of the corporate state. It funnels them into a caste system of drones and systems managers. It transforms a democratic state into a feudal system of corporate masters and serfs…
To truly teach is to instill the values and knowledge which promote the common good and protect a society from the folly of historical amnesia…
The capacity to think is the only bulwark against any centralized authority that seeks to impose mindless obedience. There is a huge difference, as Socrates understood, between teaching people what to think and teaching them how to think. “…
http://tinyurl.com/5r7wntn
I agree that PMs are in for a correction. Of course the CAD and (more importantly for me) the AUD are going to get smashed at the same time. In Aussie terms gold actually peaked in Feb 2009 when the AUD got smashed back into the 0.60s. Interesting times ahead…
http://video.cnbc.com/gallery/?video=3000015563
“we have grown weary of predicting when”
I’m remembering you predicting, last year this time, that the number of available units for sale would “go parabolic” and prices would subsequently crash. Maybe it was more hope than prediction. Ah, life was better in our younger days.
Of course I wish you’d been right.
Yes, that’s correct.
We still believe (strongly) that inventory will rise, buyers will dry up, prices will start descending, speculative supply will come into the market (faster and faster), that the buyers who remain will sit on their hands, prices will drop further, lower prices will beget lower prices, the market will crash, and, at the trough, prices will be more than 50% lower than peak, and that we’ll see 2003 or 2002 or 2001 prices again.
But, yes, we’re hesitant to guess when this’ll occur, even for fun.
Remember that our 2010-2019 prediction sidebar post (Dec 2009) says this’ll happen through this decade, and that’s probably about as precise as we can get.
Then, I wouldn’t dream of a packet of salt @$1 suddenly sold for $8 in a matter of days due to rumors spreaded most probably by unscrupulously salt merchants. LOL
Flippers sighted! All 1-bedroom and 1-bedroom + den units @Metro Place sold out.
Vancouver Magazine, April 2011 Cover
“Here we go again! Why house prices are taking off? – page 46″
Prediction was made that China’s new p0licy ( limiting purchases to two) would affect our markets positively. Articles confirming this surge of buying spree mushroomed in ethnic media.
this is rather aggravating that a centrally planned economy is affecting our apparently not centrally planned economy.
so first the boomers fuck my generation..
F**ked since about ’74, actually (and if you didn’t get laid in the 60′s, you’re not a ‘boomer’)…
Ol’ Zygmunt (a prophet hath no honour in his own country…) knew the score, though…
http://tinyurl.com/3f49u8t
it takes a holocaust survivor to sum up my gen’s situation
ok, nem – i’ll bite – where should i move to?
I’ve read the article. It suggests that we, with San Fran, are of median affordability when comparing average income to average home in some group of cities from around the world that includes Shanghai, Taipei, and Islamabad.
… Oh, also, that we’re getting more Asian investors than the official numbers would allow because Quebec has its own immigration system, and so HAM is coming to us via Quebec.
got any links/numbers, comrade?
I’ve been saying for years ut no one would listen. Instead I was stoned.
welcome..
.. to the refuge .. of the DAMNED!
ya’ll were told this would happen on the best place on earth. You didn’t heed the advice and buy a place you could afford, choosing instead to believe the opposite camp. You have no-one to blame but yourselves.
This is always the sentiment in a bubble before it bursts.