cartoon by Cheney
Most Recent Comments:
- -80% bear on Vancouver Detached – Sales Down, Prices Down
- El Ninja on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
- Arnie Carnegie on Vancouver Detached – Sales Down, Prices Down
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? (1,096)
- 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
-
Latest Anecdotes:
- 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?
- “Am I Buying This Home To Use It, Or For Anticipated Price Growth?”
- “I’d been brainwashed by this market into thinking that paying for a million-dollar home means getting a total dump” … “When housing is so unaffordable that you drive out people who hold up the fabric of society, what’s going to happen?”
- Stoking The Housing Boom – “B.C. should close the bare-trust loophole for owning properties. Former Liberal finance minister Mike de Jong promised to get rid of it, but he reneged.”
- Housing accounted for the bulk of Canada’s economic growth last year. Brace for the end of the boom.
- Miloon Kothari, Former UN Investigator, Reviewing Vancouver Housing Crisis – “Hyper-speculation. Casino Capitalism. Gentrification. Collusion. Corruption. Criminal Investigations. A Lottery Which Reduces A Social Resource Like Housing To A Commodity.”
- ‘Flip Vancouver’ Speculator Invite Flyer
- “Local Speculators Are Cashing In While We Blame Foreigners” and Other Truths – Geoff Dembicki, The Tyee
- “Nuthin’ That A Good Ol’ 75%+ Price Crash Won’t Fix…” – BOC Governor Stephen Poloz *
- Reconsidering High-Rises – “These people do not want a neighbourhood. They want a locked gate, a gated community in the sky.”
- Wake Up Canada! – Countries By Population Density
- Low Interest Rates, Foreign Capital, Local Speculation
- Unstoppable?
- Vulnerable
- Toronto Bursting? – “People need to ask themselves very carefully, “Why am I buying this house?”
- An Economic Boom “In All The Wrong Places”
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- Vancouver Detached – Sales Down, Prices Down vreaa.wordpress.com/2018/12/07/van… https://t.co/hTI067HlIt 1 week ago
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Libertarianism / Anarcho-capitalism.
https://tinyurl.com/y9vvcbkh + https://tinyurl.com/y72hxa8v
Oh, yes. Oh, very yes.
Unh, unh, unh … oh yes … very yes … unh unh unh … hold still dawg … almost there … unh unh unh …
Stop projecting.
Serious question: Is Arnie in middle school still? I remember this sort of “humor” being funny to juveniles.
The typical way in oecd nations is using enfranchisement with assistance of the various estates. As we are seeing in Vancouver proper, anyone can run for office with a handful of supporters
Burned Flipper of the day:
3868 W 23rd Avenue, Vancouver
May 2:$4,780,000
Sep 14: $4,380,000
Change: – 400000.00 -8%
A: $4,317,000 (Bought May 2017 for 4.475 mil$)
For all we know they made their first flip in 1998 and are sitting on a crazy high acb
Why make excuses for these reckless speculators? Maybe they did, maybe they didn’t. Doesn’t matter. They got burned here.
If they have a lower acb there isn’t much burning. I sometimes have to duck out of bad trades too but overall the balance sheet is what matters not a specific investment
If trading stocks is a bad idea, which for most people it is, trading houses is even stupider. The relative illiquidity and transaction costs assure this. Only in a steeply rising market are these costs adequately compensated. And real estate markets don’t tend to rise steeply frequently.
Meantime, treating houses like chips on a casino table produces costly externalities. So, not only is it financially dumb, it is damaging to the local community.
Sure, but that doesn’t mean one specific out of he money trade means the seller learned a hard lesson he will not soon forget.
https://tinyurl.com/yackl8s8 … omg … rant alert … what the dorkons (msm-hollywood-progressives) are so slow to uptake is that their hypocrisy has been fully revealed … (thank you)^10^100 djt … ppl aren’t that stupid, or if they are they’re soon removed … the more insistent the idiots become the more they discredit themselves … why do they keep doing this? … libs don’t care if stuff works, only if it sounds good … they’re all great talkers and love the sound of their own idiocy … cons don’t care what it looks or sounds like, only if it works … i take conservative hell over liberal hell anytime … please-please-please send the great flood to wash the earth of all the morons … we could really use it
Just a friendly reminder that the news media are fake.
Given the upcoming civic election I decided to look back to the 2011 posts where VREAA contacted Vancouver council candidates and asked them five questions relating to housing policy https://vreaa.wordpress.com/2011/10/24/policies-on-housing-the-positions-of-local-entities-on-the-challenges-facing-vancouver-housing/
Canada has gotten played:
Burned Flipper of the day:
Ouch. That hurts.
But a mere ‘flesh wound’ compared to what’s coming.
If fresh dirty money doesn’t come quick, you’ll soon have “Burned flipper of the hour” posts.
Who are going to vote for next month?
Here’s my choice:
For Mayor: ProVancouver
For Council : COPE (3 candidates) then ProVancouver (3 Candidates) then Greens (Carr + 2 others) then Spike Peachey.
Do you know a more bearish combination than this one?
Sell now.
In this informative interview, Phil “I Smoke Huge Bongs” Doper, CEO of Royal DisGrace, assures us that “we’ve had one of those magical soft landings”.
Got it, folks? It’s all behind us. Smooth sailing here on out. Phew.
Dunno about you, but I’m ready to get my real estate mojo on!
https://business.financialpost.com/real-estate/canadas-housing-market-has-achieved-the-magical-soft-landing-royal-lepage?utm_medium=Social&utm_source=Twitter#Echobox=1537546946
for kix … compare phil discussing dead cat bounce (3:15) to this … https://tinyurl.com/y7fwzz2f … lolz
Dude. How does he get them off?
Doper’s use of the word “magical” is telling; he knows there’s no such thing as a soft landing. But it fits with Canadians’ belief that “it’s different here”.
I also love how realtors (or, as I prefer to call them, used house salesmen) have now been rebranded as “advisors”. This new title elevates and ennobles their role in the mind of the gullible consumer to that of consigliere, instead of the greedy, unstudied fee vultures that so many are. This industry’s linguistic gymnastics never cease to amaze.
“It’s no big deal; it’s just raw data. That’s why we’ve been fighting tooth and nail for years to keep it proprietary.”
Flipper burn of the week:
4710 Willow Place, West Vancouver
Apr 9:$2,998,000
Sep 17: $1,999,000
Change: – 999000.00 -33%
A: $2,578,000 (sold Aug 2015 for 2.1 mil$)
2711 Point Grey Road: bought as a scraper in 1993 for $1.525M. New-build in 1994.
For sale 24 years later. Listed under assessed @ $15.8M.
There’s a story here. It would be interesting to know who owned and why they are selling; and who buys.
2707 Point Grey also for sale – side by side – also a new-build in 1994. This one is over assesed – doubtless because it flanks green space. Listed at $19.980M. You’d think that in this price range they would have rounded the number off to 20 million.
1243 Chartwell Place: bought in 1979 for $640K. Listed at $39.9M. Assessed at just $12.458M.
5340 Seaside Place: brutalist modern; heated roads; freehold plus strata common. $22.88M. Yowza.
Slow day at Starbucks.
Haircut? More like scalping.
My take on the Point Grey properties is that 2707, next to a park, owned their place forever and picked up 2711 for a bargain price – scraped both and did two new-builds. The interesting bit is that there is a third property, not for sale, flush with Piggot Park – assessed at over $30M. As a land assembly it could be a play similar to Porno Pants Chip Wilson’s four lot assembly down the road – which cost him $40M several years ago.
From “the Golden Mile” to “Billionaire Beach”.
This sure smells like the dot com era during 2000:
https://imbyx.com/
“Invest for as little as $1”.
Lol. Who are they trying to dupe, kids with allowance money?
Garth investigates, it doesn’t look good.
https://www.greaterfool.ca/2018/09/26/crowd-teasing/
It’s Bitconnect 2.0