Exquisite Malevolence – Vancouver RE Bull Uses ‘It’s A Wonderful Life’ Quotes To Torture Bears On Xmas Day

For at least five years, there has been fluctuating online animosity between Vancouver RE bulls and bears. The intensity ebbs and flows. High emotion is an inevitable component in a market as distorted as ours.
The Christmas Day post below, initiating a thread at at a largely bullish local blog, reaches such an exquisite point of malevolence that even other bulls admonish the poster.
Archived here to record the sentiment; it will also be referenced in the ongoing ‘Bull Hubris’ sidebar collection.

eyesthebye at RE Talks 25 Dec 2010 11:59pm
“It’s A Wonderful Life
Thought these quotes were appropriate – given the holiday season and on topic for this site.

– “They had to wait and save their money before they even ought to think of a decent home. Wait! Wait for what? Until their children grow up and leave them? Until they’re so old and broken-down that they . . .”
– “Fifteen years ago, a half-dozen houses stuck here and there. There’s the old cemetery, squirrels, buttercups, daisies. Dozens of the prettiest little homes you ever saw. Ninety per cent owned by suckers who used to pay rent to you.”
– “You know, George, I feel that in a small way we are doing something important. Satisfying a fundamental urge. It’s deep in the race for a man to want his own roof and walls and fireplace…”
Hope you bears fulfill your fundamental urge for the coming year..
Merry Christmas and all the best for 2011.”
image above was inserted into the post here]

geezer responds 26 Dec 2010 2:39am
“Keep up the petty and inappropriate gloating ETB, you are going to look sooooo dumb if the market has a major correction. How will you feel if [the bears are] right? I am beginning to understand [their] hostility to bullish sentiment, it is probably caused by people like you.
What if your old house drops to $100k below your purchase price and mortgage rates hit 12%, then you discover you need a new roof or foundations, or both? Any one of those events is well within the bounds of possibility.
I’m a long term bull on Vancouver but I’ve lived through huge price reversals before, if you believe in karma you are begging for a collapse.”

8 responses to “Exquisite Malevolence – Vancouver RE Bull Uses ‘It’s A Wonderful Life’ Quotes To Torture Bears On Xmas Day

  1. Unbelievably churlish, stupid and venal – you, Sonny, are going to find out what the word LEVERAGE means.

    S I CK with GREED – you have serious issues.

  2. Village Whisperer

    “Wait? Wait for what?”, goes the question.

    The answer, of course, is wait to take advantage of all the opportunities to make money elsewhere right now.

    Those who have a downpayment for a house (or who sold their house and are on the sidelines right now) have a once in a lifetime opportunity to make money right now.

    The Federal Reserve’s QE policy will continue to drive precious metals upward. $60,000 invested in a silver mining stock like First Majestic (FR) in August ($5.80/share) will leave you sitting on $129,310 right now ($12.50/share). If you had sold your $1 million crack shack during the summer, you would be sitting on $2.155 mil right now.

    Real Estate is a very poor place to put your money right now.

    Why wait? So you can reap tremendous profits elsewhere and buy very soon without needing a mortgage… that’s why, eyes.

    • Thanks for the comment, whisperer.
      FTR, we at VREAA like the precious metals in the long term, BUT do believe that they are overheated right now and that they will suffer along with general stocks, RE, the loonie, China, & emerging markets in a deflationary wave over the coming 6-18 months. The USD will likely continue it’s bounce through this period. And, yes, interest rates could stay low (but Vancouver RE will crash anyway).

  3. Village Whisperer

    There are some very ‘different’ patterns in the gold/silver market right now that have captured my keen attention. While I have been of the opinion that Silver would see a retrenchment to the $25.00 level (from the current $29.20), it hasn’t.

    Every single day this past week the paper silver market has seen a concerted take down effort starting at 6:30am. Silver will drop anywhere from $0.50 to up to $2.00 in 5 minutes but then come roaring back and make up the loss.

    Delivery pressure on the Comex has been massive. Volumes have not been this large since the Hunt effort in the 80s. Two investors I know personally have tried to take Physical Delivery from SLV and have been unsuccessful. Both have been offer fiat payment (at a handsome premium) and have take the money, closed their accounts and purchased physical from local bullion dealers.

    There is massive buying going on to counter the paper shorts. It is suggested that China and Russia are quietly selling off US Bonds/Treasuries in the QE effort and purchasing silver/gold to get out of the US dollar. Buying on this level/amounts is the only way long time traders can see the paper shorts being beaten back each day.

    I follow several silver mining stocks very closely and I have been stunned at the volume being traded this month… easily 4 times what I have seen in other months.

    Something is up. I think you are going to see gold/silver move strongly in the New Year. May be up. May be down. But it will move sharply either way.

  4. Just wondering ( and without any malice)

    Do you guys have any real jobs??

    • Yeah, sure.
      How about you? (asked with no malice)
      It is possible, believe it or not, to have a real job(career), spend lots of time with friends & family, have fun, read, follow the markets, write, etc, etc, etc… all in one lifetime. There are, after all, 168 hours in a week.
      Many of us learnt to walk and chew gum simultaneously some time ago.

  5. Some people don’t want you to have time to think about these things. You should be working 80 hours a week and overtime through the holidays to support a million dollar mortgage.

  6. 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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