‘Soft Landing’ Call Spotted

“Sure looks like you could just step out there, don’t it?”

“The Canadian housing market appears to have achieved “a soft landing” so far with sales cooler but still fairly steady along with prices, Scotiabank says.”
– from ‘Housing market appears to have achieved soft landing: Scotiabank report’, Canadian Press, 11 Dec 2012 [hat-tip Terminalcitygirl]

Will be added to the ‘premature bottom calls’ sidebar collection. -ed.

Vancouver Sun Calls Current SFH Prices “Rock Bottom”

$598,000: 3023 E 1ST AV Vancouver

$669,900: 5638 ABERDEEN ST Vancouver.

$638,000: 4848 KILLARNEY ST Vancouver.

– from the ’20 Vancouver homes at rock-bottom prices’, Vancouver Sun, 14 Nov 2012[hat-tip JoeQ, who adds “Given the house quality to price ratio in these photos, methinks we are quite far from “rock bottom”. (We’d agree. Prices have barely commenced their fall. -ed.)]

Premature Calls Of “Bottom” – “Awesome deal. Bears might just be missing yet another correction.”

This page is now an archive for premature ‘bottom calls’:

Premature Calls Of “Bottom”

“Awesome deal. Bears might just be missing yet another correction.”
– eyesthebye, 29 May 2012

“Vancouver’s housing sector may have hit its bottom with an improvement in home sales seen in October”
– Marc Pinsonneault, National Bank, Wall Street Journal, 21 Nov 2012

“The Canadian housing market appears to have achieved “a soft landing”.
– from Scotiabank report, Canadian Press, 11 Dec 2012

“With others sectors of our economy picking up a little steam, growth should actually gain momentum this year rather than crashing as it did the U.S.”
– from ‘Canadian housing market finds its feet’, Jay Bryan, The Montreal Gazette, 15 Mar 2013

More to follow, you can be sure.
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6467 Elgin St, Vancouver [image: Google Earth]
“V941091
Original Price $790,000
Sale Price $680,000
Just to provide some context of what’s selling above asking… and what’s not”
– jesse at RETalks 29 May 2012 12:57pm

“Awesome deal. Standard size lot, close to (but not bordering) 49th ave.
Again, buy the home not the stats – there are deals out there.
Bears might just be missing yet another correction.”
– eyesthebye at RETalks 29 May 2012 7:15am
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To those who expect ongoing relentless strength in the Vancouver market, homes will appear cheap, then cheaper, then cheaper still, as the mania unwinds.
‘eyesthebye’ is a prolific poster at RE Talks, and a very vocal bull, who has widely publicized having bought a SFH in the Knight Street area of East Vancouver for, we believe, $600+K in early 2009. ‘eyes’ is on record as having claimed that (1) SFH prices cannot possibly drop more than 15% in Vancouver, and that (2) SFHs in Vancouver will never, ever, be available for less than $500K at any point in future.
Needless to say we disagree on both counts.
Expect to see bottom calls from bulls all the way down.
As a commenter on these pages suggested recently, it would be worthwhile archiving these hopeful predictions in one place, and we’ll use this post for that purpose. Use the category and sidebar links for convenient access. Please forward all ‘Premature Calls Of “Bottom”‘ you may spot, and we’ll pop them up above, for the record.
– vreaa
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