Point Grey SFH Inventory Up 100% YOY

Point Grey, MLS SFH Listings
26 Dec 2010:  27
26 Dec 2011:  54

Some folks are trying to cash in their high-end lottery tickets.
How many will join them in the spring?
The coming crash will effect all sectors of the market.
– vreaa

13 responses to “Point Grey SFH Inventory Up 100% YOY

  1. keep renting

  2. Even with large drops in selling prices that hood would be stratospheric. It will be interesting to see how price changes there correlate to other locales.

    Bob Rennie waits with abated breath.

  3. “will effect all sectors of the market” – VREAA…

    Perhaps, IllustriousEd… but, at the risk of inflaming further controversy, let’s have a look at retailing in the UK for some clues… Hint: a tale of two cities, if ever there was one… (note to all: to properly appreciate the ‘dynamic’ in play in certain YVR housing segments/’hoods – run the embedded video in the Aljazeera’s ‘BoxingDay@Selfridges’ piece [not for the faint ‘o heart]; then compare/contrast with the Bloomberg piece – which is more generally illustrative of the fate of ordinary ‘high street’ UK retailers whose clientele are local and whose modest means preclude the indulgence of extravagant tastes. Yes, Ed – with apologies – I’m flogging the BifurcationHorse again.)…

    [Aljazeera] – Europe welcomes Chinese big spenders: Wealthy tourists descend upon stores for post-Christmas sales as cash flow from British shoppers declines.

    http://tinyurl.com/bqkxwtz

    [BloomBerg] – U.K. Stores Brace for Most Insolvencies Since 2008 as Sales Weaken: Retail

    “U.K. retail insolvencies may reach the highest level in four years as weak Christmas sales leave chains struggling to meet rent payments due this month, according to restructuring firm AlixPartners LLP. “We are likely to see a number of retail collapses early in the new year and it could include some much-loved names,” Sanjay Bailur, managing director of the advisory firm’s U.K. unit, said in an interview. The outlook is “worse than the last three or four years.”…

    http://tinyurl.com/7bnupx8

      • Great quote from that piece: “an ass upon which everyone has sat except a man.”… which, as it happens, reminds me of something funny…

        Once upon a time, ‘Nem’ was a Forbes contributor (‘back in the day’, pre Stevie). While most “OutOfTowners” visiting Forbes’ Manhattan offices would typically obsess over TheFaberges… the real (and certainly more ‘practical’) curiousity were the office loos – which featured the most devious ‘sanitary’ prophylactic ever devised (undoubtedly, even then, made in China)… a continuous, motorised ‘loop’ of thin plastic film completely enveloping the ‘seat’ that would renew at the touch of a button… (or a ‘bottom’ – to the surprise of visitors not otherwise forewarned).

        The ‘Eggs’ are history now (purchased in 2004 by a Russian Oligarch for, it is rumoured, a paltry USD120M or so)… but I occasionally wonder whether those diabolical loos continue to terrify the uniniated – and whether the late Malcolm Forbes ‘mischievous’ private life had anything to do with his apparent sanitary ‘toilette’ fetish…

  4. PS – I neglected to add, it’s ALL about ‘TheMoney’ (ethnicity and national origins are purely incidental).

  5. Following from Nem’s comments, I thought I’d mention we were out in Coquitlam for Christmas dinner in one of the newer highrises. The building has no “4” apartments or floors (ie: no 4th, 14th). One of the long time residents of the area was commenting on all the development in recent years geared for, and attracting asian residents and businesses and the dramatic change she sees and feels in the community. Clearly her experience is that bifurcation is alive and well in Coquitlam. The 30 year residents, mostly white with modest homes and the new money building mansions in Westwood Plateau and buying flashy condos on “the High” street with expensive cars and shopping tastes.

    • yeah it’s pretty ridiculous – the communities around Como Lake may be suburban 50s lay out but they sure are a lot nicer and more ‘organic’ feeling – given that the trees are all 100 feet high.. AND THEY HAVE YARDS

      WHODA THUNK??

  6. Retail sales are grinding to a halt in the city from what I see and hear. Fourth avenue was a veritable ghost town during boxing day sales, the amount of retail stores that have closed down, relocated to East Vancouver or their current locations are up for lease is shocking.

  7. I would take exception that listings have declined from a year ago in Pt Grey. There has always been 50-70 houses. The newest thing is the beetle. Its on my street (last block of West 13th). It seems to hit the dry lawns, including the listing for 2.35 M. Why spend over two million dollars for a beetle house?

    http://vancouver.ca/parks/info/pests/lawns.htm

    • Kermit -> We follow various westside subsectors, and the numbers quoted are for a MLS search for SFHs on given days… not opinion, but the actual number of MLS listings.

      In both 2010 and 2011 SFH listings in Point Grey peaked at about 80 (July 2010 and Oct 2011).

      For some reason, this sub-sector inventory has remained high into year end in 2011:
      27 Nov 2010: 39; 21 Nov 2011: 69
      26 Dec 2010: 27; 26 Dec 2011: 54

      Sales numbers are more important, but, whatever the case, more sellers are advertising this December.

  8. In IMF study, some models show BC homes overvalued at above 30%!!!

    Click to access cr11365.pdf

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