—
“Our office has received 3 of these weird foreclosure faxes so far this week. Thought it was worth documenting.” – from ‘Bob’, via e-mail to VREAA 13 Jan 2012 [Thanks, Bob. -ed.]
Anybody have any idea what this is about? – vreaa
Most Recent Comments:
- mur+(@meumar) on The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise – Part 10: Reversion To The Mean
- vreaa on “I’m surprised that everyone else is so surprised to hear anyone talk about a housing bubble” – “Canadian RE 2021 worse than U.S. bubble at 2006 peak” – David Rosenburg
- space889 on “I’m surprised that everyone else is so surprised to hear anyone talk about a housing bubble” – “Canadian RE 2021 worse than U.S. bubble at 2006 peak” – David Rosenburg
- The Phenix Group on The Importance of Buying at Vaguely the Right Time
- vreaa on The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise – Part 10: Reversion To The Mean
- mur (@meumar) on The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise – Part 10: Reversion To The Mean
- Money Laundering & Vancouver Home Prices - Finance Library on Money Laundering & Vancouver Home Prices
- Alex Wong on “I’m surprised that everyone else is so surprised to hear anyone talk about a housing bubble” – “Canadian RE 2021 worse than U.S. bubble at 2006 peak” – David Rosenburg
- Vancouver RE Prices – Where is the Support? - Finance Library on Vancouver RE Prices – Where is the Support?
- Vancouver Sun Headline – ‘Five more Metro Vancouver homeowners hosed in a falling market’ - Finance Library on Vancouver Sun Headline – ‘Five more Metro Vancouver homeowners hosed in a falling market’
- Prediction: Vancouver RE Prices Will Not Crash… Unless They Crash - Finance Library on Prediction: Vancouver RE Prices Will Not Crash… Unless They Crash
- john on “I’m surprised that everyone else is so surprised to hear anyone talk about a housing bubble” – “Canadian RE 2021 worse than U.S. bubble at 2006 peak” – David Rosenburg
Type of Anecdote
- 01. He Said, She Said (248)
- 02. Profiting from the Boom (446)
- 03. Changed my Life (106)
- 04. Changed my Career (39)
- 05. Where do Buyers get the money? (1,111)
- 06. Held my Nose and Leapt (97)
- 07. Avoiding Vancouver (378)
- 08. Overextended Buyers (1,198)
- 09. Delaying Buying (316)
- 10. Demoralized Renters? (367)
- 11. Regrets about Investing in RE (417)
- 12. Effects of Development (279)
- 13. 2010 Olympics Related (74)
- 14. Social Effects of the Boom (1,266)
- 15. Misallocation of Resources (967)
- 16. Missed The Boat? (237)
- 17. The Froogle Scott Chronicles (27)
- 18. Spot The Speculator (174)
- 19. BlastRadiusPostCards (17)
- 20. The Limitless Demand Argument For Ongoing Market Strength (70)
- 21. Vancouver RE-Verse [Found Poems] (8)
- 22. RE References In Popular Culture (45)
- 23. Jumping The Shark (1)
- 24. Policies On Housing (11)
- 25. Epigrams For The Bubble (1)
- 26. Premature Calls Of "Bottom" (3)
- 27. Seller Panic (3)
- 28. Erroneous Causation Theories For Falling Prices (7)
- 29. Bubblespeak (1)
- Uncategorized (177)
Blogroll
- 01 Vancouver Condo Info
- 02 AmericaCanada [retired, no archive]
- 03 Housing Analysis
- 04 RealEstateTalks BC
- 05 Vancouver RE and then some
- 06 Whispers from the Village on the Edge of the Rainforest
- 07 Greater Fool
- 08 Canada Bubble
- 09 Rob Chipman's blog
- 10 YatterMatters
- 11 condohype [retired; archives available]
- 12 vancouver (un)real estate
- 13 Agent Will's Stats [retired]
- 14 Landlord Rescue
- 15 The Economic Analyst
- 16 Canadian Housing Price Charts
- 17 Hoodsurf [retired Jun 2011]
- 18 World Housing Bubble
- 19 Vancouver Price Drop
- 20 North American Economics
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Latest Anecdotes:
- “I’m surprised that everyone else is so surprised to hear anyone talk about a housing bubble” – “Canadian RE 2021 worse than U.S. bubble at 2006 peak” – David Rosenburg
- “Always the Right Time to Buy!” – Cheap Rope For Vancouver RE Buyers
- Mortgage Squeeze Anecdotes – “Two days ago my mortgage holder called and told me that, after 22 years, they would not renew my mortgage.”
- Wow! – CMHC CEO Evan Siddall Points To Unsustainable Debt & Calls For 18% Drop In Housing Prices – [which of course would mean a lot more off]
- Prediction: Vancouver RE Prices Will Not Crash… Unless They Crash
- Pre-Existing Disease – COVID Economic Stress Uncovers Longstanding Vulnerability in Vancouver RE Market
- COVID-19 the Pin for the Highly Debt-Leveraged Vancouver RE Bubble?
- Vancouver Sun Headline – ‘Five more Metro Vancouver homeowners hosed in a falling market’
- Vancouver RE Prices – Where is the Support?
- Money Laundering & Vancouver Home Prices
- “Psychologically, They’re Ill-Prepared” – “Canadian Chaos Looms”
- Keeping Up With Other Bubbles – Australia Suddenly Not Running Out Of Land Anymore – “Aussie House Prices Could Halve”
- Watershed? or Dam-Collapsing? – Mainstream Media Quoting Vancouver RE Bear-Tweets, and Predicting Shrinking Realtor Numbers – “What they’re used to is not what real estate is typically like.”
- “Within artistic communities in Vancouver it’s hard to spend more than 15 minutes at a social gathering without talking about the cost of rent or knowing of someone who is being evicted.”
- Macleans Wakes Up – ‘This is how Canada’s housing correction begins’ – “We’re not ready for what happens next”
- Vancouver Detached – Sales Down, Prices Down
- Bloomberg Calls Vancouver ‘The City That Had Too Much Money’
- “Our family loves Vancouver, but we’re leaving because the struggle to live here is simply too hard”
- Tendency Towards Corruption Is Inevitable – How Do We Minimize Its Existence?
- Hard Earned Home Savings? Hardly.
- “You know your real estate is in bad shape when there is a game app that displays Vancouver’s Science World and teaches you how to be a money hungry real estate developer.”
- “It’s sinking in that Vancouver is sinking” – “Westside prices have fallen 17% from 2016 & 11% this year; sales volumes down by 80%; 3 years worth of >$3 Million inventory”
- The Carrion Have The Carcass – “I’ve lived in Vancouver since 1968; my wife was born here; we are about to leave; this town has priced us out. All that is left are the investors and the very rich visitors.”
- All Time High, And Climbing… $251 Billion Personal Debt Borrowed Against Canadian Homes
- “I asked a group of young people how many of them thought they’d be in Vancouver in two years, and 17 out of 18 said that they would be moving.” – Mayoral Candidate Shauna Sylvester
- Off-The-Charts Unaffordable – Greater Vancouver Price-To-Income Ratio 28 (average home price: $1,071,800, median one-person income: $38,164)
- Conflicts of Interest – BC MLAs Heavily Invested In RE Making Laws About RE
- File Under Tags: ‘Tolerant Vancouver Renter’ and ‘YouGottaBeKiddinMe’
- Vancouver “an international housing-affordability basket case” with “RE bubble risk the worst in the world” – Maclean’s
- Vancouver Economy Over-Dependent On Debt Spending
- Vancouver City Councillors Wake Up To ‘Fierce Speculative Demand’ – “There is significant evidence speculative investment has the biggest impact on housing costs in the city.”
- The Dance Around Foreign Ownership of Vancouver RE
- Information From Outside The Vancouver RE Bubble – U.S. Senator Lives In (don’t laugh) $500K Home
- “The Position Remains Unfilled”
- Jessica Barrett – ‘I Left Vancouver Because Vancouver Left Me’ – “Like Living On An Abandoned Film Set.”
- “I’ve thought since early 2010 that Vancouver housing was in a bubble, and have refused to buy a house for this reason. I’ve felt that the risk of mean-reversion was far higher than the risk of missing the upside.”
- “It is very difficult to live here.”
- “We want young people to buy Real Estate.” – Vancouver’s Mayor
- “Vancouver RE Balloon Pricked; Median Price Detached Home Down >$500,000 to $1.7 million; Prices Need To Be Slashed”
- Detached Price Trend Remains Up, For Now. Speculators Hold Their Breath?
Follow vreaa on twitter
- “I’m surprised that everyone else is so surprised to hear anyone talk about a housing bubble” – “Canadian RE 2021 w… twitter.com/i/web/status/1… 12 months ago
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Vancouver Real Estate Anecdote Archive 
Why do I love this so much?
Vancouver Folk Art, this is.
Yoda?
I don’t know what this is about specifically, but I can say that a very intelligent financial advisor I know (contrarian, naturally, who predicted the height of the RE market here so far exactly, to the month) had predicted, as I mentioned on an earlier post, that the foreclosures here would start in the next 18 (now 15) months.
If that’s true too, it’s going to be so painful for so many people, and I hope that banks all over North America will be much soberer in future about doing the equivalent of tossing $100,000 bills (if there are such) off the backs of trucks to gullible would-be homebuyers and RE investors.
Vesta, I hear you. But “gullible”? Are they really that gullible or are they merely guilty of believing what they read and hear?
With the non-stop onslaught of lies that regularly spews forth from the RE industry and the RE industry-supported media (ie Royal LePage proclaiming this week that house prices will rise even further and every media outlet broadcasting it like it’s gospel), it’s hard for the average Joe to separate fact from bullshit. He knows the price of everything is skyrocketing, and he sees the worst offender – real estate – as a saviour of sorts. Because, as he is told over and over and over and over again, it’s different here. BNOBPOF. Don’t throw away money on rent. Build equity. The average guy *wants* to believe, and the RE industry knows this.
I know I keep banging this drum and I know people shouldn’t be ignorant enough to fall for this crap. But it’s entrenched in their very souls that home ownership is *always* the way. It takes a lot of time and effort (and faith) to look behind the smokescreen of deception. And the scum…er, the RE industry…feeds off it like the disgusting bloodsucking leech it is.
@Gord, you wrote: “With the non-stop onslaught of lies that regularly spews forth from the RE industry and the RE industry-supported media (ie Royal LePage proclaiming this week that house prices will rise even further and every media outlet broadcasting it like it’s gospel), it’s hard for the average Joe to separate fact from bullshit. He knows the price of everything is skyrocketing, and he sees the worst offender – real estate – as a saviour of sorts. Because, as he is told over and over and over and over again, it’s different here. BNOBPOF. Don’t throw away money on rent. Build equity. The average guy *wants* to believe, and the RE industry knows this.”
Gord, I agree completely that the real-estate industry, their advertising wing, and the media who not only accept their word uncritically but broadcast it relentlessly, all have a great deal to answer for. The RE industry, as you suggest above, does seem indeed to be playing on the eagerness of too many to believe that RE continues to be always a safe investment.
“and I hope that banks all over North America will be much soberer in future”
Fat chance when the government eats the loss.
Interesting… The third sentence (in Chinese) below the black line means:
“No more investment coming from Asia”
I’m wondering what’s the motivation behind this fax. Any idea?
Looks like agitprop to me.
probably some dtes group trying to curb asian investment.
It’s hard to make sense of it. Could be written by some raging real estate bulls (yes, bulls) who hope to frighten some people into panic sales because they think they can continue to flip the houses for more money. Or, perhaps they aren’t so much bulls, just desperate to make some quickie property purchases to park (launder?) their money in Canada.
Regardless, I can’t seeing it succeeding in shaking loose any properties. Unless… the Chinese wording is designed to play on some deeply held cultural superstition of some sort. It would be helpful if someone of Chinese heritage would weigh in on this. Looks like Makaya already has. OK, so probably there is nothing to this second theory of mine.
What I’d like to know is whether Bob’s employer primarily serves East Asians?
No, that’s not our market at all. Not sure why this came to us, but we get a lot of other fax spam, mostly for toners cartridge’s.
Some great thoughts there.
must be from a member of occupyvancouver.
The province of B.C. is incorrectly translated (blame google-translate) as Before Christ.
The author is most likely non-Mandarin literate Chinese or Asian.
The Chinese looks like it came through Google Translate. The English is poor too.
I concur with the observations of Durr and Tales of Lotusland. The Chinese text is grammatically incorrect.
That’s what my wife told me too…
Another “guerrilla” campaign? How long until “threats of legal action from a local realtor”?
Given the sender doesn’t speak English or Chinese very well, this thing is surreal. Maybe some other foreign buyer group send this out?
The province of B.C. is incorrectly translated (blame google-translate) as Before Christ.
Or they’re saying we’re about to have a housing crash like we haven’t seen in over 2000 years. 🙂