Well, if you find some high end providers offering 15 minute rates let me know, I'm not sure what I could get done in 15 minutes but I'd totally give it the old college try.
Economic downturn has started
- Thread starter kickback
- Start date
I guess if the REBGV says so it must be true. It's a great time to buy real estate and a terrible time to sell. Real estate only goes up in Vancouver and it's different here.
BTW, the statement '11.9% surge from June of 2012' omitted that real sales had crashed by 17% y/y in June of 2012. So by their math a 5% decline is a 11.9% increase. But it's Vancouver and sales always go up so no need to put that in the article...unless of course you want people to know the truth.
So glad to see you back in this thread, kickback! Your perspective is always very sobering, and real. I'm still saving my pennies, awaiting the right time to buy!
Just reviving a thread of great interest...the current and near-term real estate market. Spin Doctors or the way things actually are right now?
Canada housing prices bounce higher but no crash seen
"Prices rose in 10 cities, fell in six and were unchanged in five.
The new housing price index excludes condominiums, which the government has said are a particular cause for concern because of overbuilding, especially in Toronto."
No details were given in this article regarding where Vancouver stands.
http://money.ca.msn.com/investing/n...ousing-prices-bounce-higher-but-no-crash-seen
Canada housing prices bounce higher but no crash seen
"Prices rose in 10 cities, fell in six and were unchanged in five.
The new housing price index excludes condominiums, which the government has said are a particular cause for concern because of overbuilding, especially in Toronto."
No details were given in this article regarding where Vancouver stands.
http://money.ca.msn.com/investing/n...ousing-prices-bounce-higher-but-no-crash-seen
And in today's news:
Most expensive Canadian condo sold for $40 million in Vancouver
http://www.everydaymoney.ca/2013/09...n-condo-sold-for-40-million-in-vancouver.html
"For the past few years, Vancouver's real estate market has attracted foreign investment from wealthy Chinese and Hong Kong buyers, a Vancouver realtor told Bloomberg.
It also seems like this trend may continue with a busy fall season for luxury home sales, according to a recent study by Sotheby International Realty Canada. Canada's luxury homes are attracting buyers from China, Russia, the Middle East, India and the United States. These homes are typically bought by parents buying condos for their children when they send their children to Canada to study, a Toronto real estate agent told the Huffington Post."
"It's a bit of a catch-22 where Canadians hold their breath to see whether our housing market will face a soft landing or suffer a hard crash with or overvalued housing market. It doesn't help matters that Canada is deemed to have one of the most overvalued housing markets in the world, according to the OECD."
Most expensive Canadian condo sold for $40 million in Vancouver
http://www.everydaymoney.ca/2013/09...n-condo-sold-for-40-million-in-vancouver.html
"For the past few years, Vancouver's real estate market has attracted foreign investment from wealthy Chinese and Hong Kong buyers, a Vancouver realtor told Bloomberg.
It also seems like this trend may continue with a busy fall season for luxury home sales, according to a recent study by Sotheby International Realty Canada. Canada's luxury homes are attracting buyers from China, Russia, the Middle East, India and the United States. These homes are typically bought by parents buying condos for their children when they send their children to Canada to study, a Toronto real estate agent told the Huffington Post."
"It's a bit of a catch-22 where Canadians hold their breath to see whether our housing market will face a soft landing or suffer a hard crash with or overvalued housing market. It doesn't help matters that Canada is deemed to have one of the most overvalued housing markets in the world, according to the OECD."
Most expensive Canadian condo sold for $40 million in Vancouver
http://www.everydaymoney.ca/2013/09/...vancouver.html
If I had that much money there is no way I'd be buying overpriced property.
I see more value in spending my money with a good SP and tipping her well. What a waste of money, better theirs than mine.
http://www.everydaymoney.ca/2013/09/...vancouver.html
If I had that much money there is no way I'd be buying overpriced property.
I see more value in spending my money with a good SP and tipping her well. What a waste of money, better theirs than mine.
Wow, we are on the same wavelength; I just saw this article and immediately thought of you and posting it here! What do you think?
Home sales in Vancouver up 64% from year ago
http://money.ca.msn.com/investing/n...les-in-vancouver-up-64percent-from-year-ago-1
The sales were a result of buyers using approved mortgages at lower rates fearing that rates would rise. It's like someone earning $50k a year and buying a $150k Ferrari because the interest rate on the loan was only .9%. Real estate in Vancouver is way too pricey and this blip should not be seen as a good time to buy. Ask anyone who is trying to sell real estate and you'll get the truth about this market.
I'm not disagreeing with you but I find the spin just fascinating!
"I don't need to analyze the project-by-project numbers to predict that the present trend will continue: a tight housing market. The big picture numbers over the last 15 years tell the story of steady demand and slow-to-respond supply."
Read more: http://www.vancouversun.com/busines...+likely+2013/7779647/story.html#ixzz2gd2wzvAm
Young one you need to do your DD on these stories; newspapers like the Sun are filled with paid ads that look like legit articles for readres. The internet has much better sources from economists who have nothing to gain by telling the truth. Bob Ransford who wrote this article is hired by real estate pumpers to spin their pitch. Check his website, it's a PR company.
* Awwwwwwww
And thanks kickback, that's why I referred to "the spin"...I totally get your perspective, and I'm fascinated by those who just can't let the real story out, until it comes crashing down on their heads (which we know it will)! I'm saving my pennies for the crash.
