A Veterinarian’s Dilemma – “Living in a 300-square-foot closet, moving to northern B.C. or renting for life.”

“My veterinarian, owner of a successful west-side practice, emailed recently to say young professionals like him “are left with a choice between living in a 300-square-foot closet, moving to northern B.C. or renting for life.”
- from ‘Here in B.C., we’re richer than we think — on paper’, Barbara Yaffe, 24 Mar 2014

[Posts are, as you can see, very sporadic. No change in our outlook for Vanc RE market. -ed.]

Vanc RE, No change – “..really mildish weather that’s very livable..”

“The weather’s good.. things have been good. …
This is the first time that I’m here.
And, umm, I have to say it’s .. I’m going to add it to my list of favourite places in the world… I’m sorry, you’re going to have to deal with that..
It’s ridiculous, you have really mildish weather that’s very livable, and nice, and an easy way of life.. a lot of craftsman style houses to live in.. really good marijuana.. very good marijuana… microbreweries, just everywhere… hip coffee places, really good restaurants.. gorgeous-gorgeous women, very hospitable generous men.. so, I think,… I think this is a good place. (laughs)

- Reggie Watts, Rifflandia 2012, Victoria, BC

photo copy

Vanc RE, no change; yet.
- ed.

“No problemo. 69 per cent of the condo tower is pretty stable.”

Downtown Vancouver

“Only 31 per cent of sales have been to first-time buyers, or new immigrants from offshore, so 69 per cent of the market is pretty stable.”
- Bob Rennie, local condo salesman, as quoted in ‘Vancouver real estate moguls unfazed by axed immigration program for millionaires’, Kate Webb, Metro, 12 Feb 2014

[A post from beyond the grave. This is a one-off post-death 'rattle'. Keep well all. - ed.]

Still Dead

“Interesting that VREAA decided to drop dead just when the bubble is probably finally bursting for good..”
- Saturno_v at VREAA, 26 Nov 2013

Yes, we’re still dead.
When we stopped posting earlier in 2013, we had every reason to believe we’d be back soonish, but personal circumstances have not allowed.
I’d agree with the commenter above that we should now simply presume the blog to be ‘dead’, until some form of miracle of a resurrection, in which case we’ll start posting again. But don’t hold your breath for this to happen anytime soon. So, presume dead for the foreseeable future.

To reiterate, the cessation of posting here was not the result of any developments (or lack thereof) in the state of the Vancouver RE market: our opinion, that our market is in a bubble and that prices will see very large retracements at some point, remains intact.

Anyway, a good holiday season and All the Very Best for 2014 to all readers. I hope to be back with regular posts one day, but it won’t be anytime soon. Keep well, all.

Holiday Reads:

‘These 17 countries may have housing bubbles. If they pop, God help us all.’, Wash. Post, 2 Dec 2013 [hat-tip El Ninja]

“Yes, Virginia, We’re Still In A Bubble”
business insider
- from ‘The Most Overvalued And Undervalued Housing Markets In The Developed World’, Business Insider, 27 Nov 2013

BC Premier: “I think the market’s good, it’s a buyers market. I want to make sure I get in before prices start to rise.”

“In Kelowna on Thursday, Clark said she has already been on the Internet looking for a home but would also like to hear from anyone in real estate about a home that requires low maintenance.
“I have a cat, but I won’t be bringing her. So no pets, no smoking and low maintenance,” she said.
The premier told reporters at her victory party on Wednesday night that she didn’t want to be “presumptuous” and start looking for a house while she was campaigning, but she’s getting serious now.
“I think the market’s good, it’s a buyers market. And you know the riding is really getting stoked again, so I want to make sure I get in before prices start to rise.”
- from The Times Colonist, 11 July 2013 [hat-tip kabloona]

With this brief (but sweet) post, we’ll be taking another break from our (admittedly very skeletal) posting habits of the past six weeks. We’ll be on hiatus for at the very least the rest of the summer. Refer to VCI and Whispers for ongoing Vancouver RE discussion. We hope to be back in full at some point. Enjoy the fine weather, and keep well, all. – vreaa
(PS: Nothing has changed regarding our overall bearish outlook on the Vancouver RE market.)

“You’ll have to pry my cell-phone from my cold, dead hand….” [Off-topic, but irresistible]

The annual ‘Running of the Bulls’ in Pamplona resulted, this year, in three gory gorings [MailOnline, 12 July 2013].
The most ghastly is getting lots of airtime, but one of the others is noteworthy for how the fellow involved, despite being attacked by a bull, managed to hang onto his cell-phone each step of the way.
Check it out:





Mayor Robertson Selling His House

912 W 23rd

912 W 23rd Avenue, Vancouver
2,922 sqft SFH
Asking price $1,950,000
Assessed (reportedly) $1,600,000

- for the whole story, see ‘Guess who’s trying to cash out of the real estate market in Vancouver?’, at ‘Whispers from the Village on the Edge of the Rainforest’, 9 July 2013
[hat-tip Burnabonian]