The Decline of Vancouver.

http://www.zerohedge.com/news/2016-08-18/vancouver-housing-market-implodes-average-home-price-plunges-20-1-month-market-devas

http://globalnews.ca/news/2887766/data-is-the-metro-vancouver-real-estate-market-in-free-fall/

Perhaps a touch alarmist, but c'mon, when you're kissing 4 standard deviations out from the norm, mean reversion is gonna smack yo'ass like nobody's business eventually.

IMHO, YMMV.

whether the market is "devastated or not depends on how you read the numbers. as one article pointed out, there's been a big drop in the sale of high end and west side homes, and that could significantly pull down the average home sale price.

in order to get a more accurate picture overall, you need to break down the sales by type, region and price. so what if the high end market has collapsed? if the mid and entry level market numbers are still strong then that means for the vast majority of people not much has changed.

A US fed interest rate hike would be perfect timing right now. Let's hope.

Prime rate hike of two or three percent would be catastrophic.

We have a condo to sell, bad timing

We have a condo to sell, bad timing

Depends on where. Condo market took longer than SFH to take off and havent bee hit too hard.

I was afraid we might miss the bubble, its an 1100 sq ft 2 bedroom condo which is bigger than what gets built now (all the new stuff is 800sq ft)in an [HTML_REMOVED]55 building around the white rock/surrey border close to that big mall

its still in probate

I think the panic buttons being pressed are very premature.

All of the talk about the so called "dramatic market slowdown" are. Based on two weeks worth of activity, two weeks, in the middle of summer.

They are comparing to last summer, which was in the middle of summer too.

They also compared July to July, first six months, etc.

So people rarely hit peak of the market selling RE, I'm not all that worried about missing a little $$$ … can't do anything anyhow

http://bc.ctvnews.ca/economist-forecasts-20-per-cent-spike-in-vancouver-rental-prices-1.3034357

Sounds like the Vancover situation^^ doesn't sound good for renters,as for the high RE affecting things up here, I think it has to cuz a million will buy alot up here so insted of buying a crack shack in east van you can buy 3 houses up here

Some orientals walked into my buddies hotel, at check-in ask if they wana sell the place?

So people rarely hit peak of the market selling RE, I'm not all that worried about missing a little $$$ … can't do anything anyhow

http://bc.ctvnews.ca/economist-forecasts-20-per-cent-spike-in-vancouver-rental-prices-1.3034357

Sounds like the Vancover situation^^ doesn't sound good for renters,as for the high RE affecting things up here, I think it has to cuz a million will buy alot up here so insted of buying a crack shack in east van you can buy 3 houses up here

Some orientals walked into my buddies hotel, at check-in ask if they wana sell the place?

I kind of wonder how much of the 20% average rise in rental prices is due to people having to rent bigger places suitable for families because they can't afford to buy…

S

Some orientals walked into my buddies hotel, at check-in ask if they wana sell the place?

Really? :lol: Thought "orientals" was now considered derogatory?

But yeah, I heard them orientals were buying up all the waterfront property all up the coast, eh?

I'm Oriental so its ok, maybe I should say "My People " like Lee Lau?

I thought that was the beginning of a joke; "Some orientals walk into a hotel…"

Yes, I have a man-crush on Alan Watts.

Someone just put together a new bit to his words that I think is relevant to a few of the sub-topics here.

https://vimeo.com/176370337

I'm Oriental so its ok, maybe I should say "My People " like Lee Lau?

All. This time I thought you where a red neck!

All. This time I thought you where a red neck!

i was fooled too. we need like a lapel system…