Real Estate Implosion...

[gordholio]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

[dot com refugee]

Printed in the Burnaby Now as well.

[Austin]

Renters are immune to exploding zeppelins.

LOL! What a stupid thing to say. Unless renters are in businesses which export to an economy unaffected by the housing downturn they are HOOPED.

The exploding zeppelin is going to smash our local economy and unemployment will skyrocket.

[leftside]

Bitter renter living in Surrey.

[vanreal]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

This guy has issues. It was a rant not an article.

[eyesthebye]

Renters are immune to exploding zeppelins.

LOL! What a stupid thing to say. Unless renters are in businesses which export to an economy unaffected by the housing downturn they are HOOPED.

The exploding zeppelin is going to smash our local economy and unemployment will skyrocket.

+1
if real estate implodes it will almost certainly be only on the heels of a stock market crash.
So if you're poor your immune - all others are in the line of fire.

[eyesthebye]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

This guy has issues. It was a rant not an article.

mental health issues.
The article reads as a manifesto

[rediculous]

The article reads as a manifesto

Hilarious! Just curious - is any RE article published locally that isn't a "puff piece" and describes a different possible outcome for RE a "manifesto"?

...I thought the article published in the Burnaby Now was the most refreshing RE article I've read in the local media for a very long time. In fact I made a point of congratulating Burnaby Now for having the guts to publish it. I assume they do not have the real estate advertizing ball and chain restricting them from publishing such a piece unlike just about every other media outlet in this town.

[Taipan]

LOL! What a stupid thing to say. Unless renters are in businesses which export to an economy unaffected by the housing downturn they are HOOPED.

The psychology behind this post is, its us and them. Owners v renters. He's just grouchy because he is a renter. Doesnt he know he is going to get smashed by the financial storm bearing down on us. See im an owner and if we ignore it or pretend it doesnt exist it will all go away.

Bitter renter living in Surrey.

Owner telling the renter. Ignore the storm -its all in your head. There isnt going to be any massive storm that will destroy the housing market.

This guy has issues. It was a rant not an article.

Its all the messengers fault. He doesnt have anything in the article to make us worry. We own houses. Were as safe as houses. As long as nobody believes what this guy says we will be alright.

mental health issues.
The article reads as a manifesto

Another example of being warned about the housing crash already starting and that thye financial winds of this storm are already blowing hard around you. But for these posters - they ignore reality - its the messengers fault.

One of the things i noticed when i started visiting Canada 5 years ago is the massive level of social brain washing that was going on in the media. The advertising backed up by infomercials masquerading as news articles.

Ill give em points for the massive level of integration and collusion to reach that critical mass propaganda.

People outside Vancouver are likely to see it, those in Vancouver are overwhelmed and now it has become a belief system.

We have just seen several examples of it above.

Why am i so positive that you have a "zepplin" bubble. Because world wide the same thing has happened everywhere and sooner or later no matter the reasons given that some how its different, it always ends in tears! And Vancouver is top of the pile of delusion.

Feel that wind? Hear the thunder approaching? Nah didnt think so.

18800 listings as of today - couple more days and we will be into the 19000. Will we see the 20,000 party?

[registered]

if real estate implodes it will almost certainly be only on the heels of a stock market crash.

Too bad as a country the government expended all our fiscal powder pumping your industry, leaving us without means to react to a market downturn. Propping Knight Street character dumps instead of building real, sustainable, globally competitive industries guarantees double the pain. The smart thing to do is sell now and get outside the blast radius of what will be the Canada's smoking crater when this insane house of cards inevitably collapses.

[Simple]

This the most recent article from Bronte Capital.

Posted: 18 May 2012 06:08 PM PDT

"I have just returned from visiting relatives in Vancouver. I mostly stayed in West Vancouver with my retired aunt and uncle but also stayed in outer-suburban areas with my police-officer cousin.

I was looking for a bubble - after all Vancouver is a notorious property bubble - but - speaking as someone from Sydney I could not see one. Everything was so cheap. Houses especially. Cars too.

A Mountie and his drug-rep wife had a material standard of living that would match a partner in a second tier law firm in Sydney. House prices seemed impossibly low.

The only place where my material standard of living was markedly higher than the outer Vancouver middle class was that I have a decent surf beach locally and the local restaurants and coffee shops are much better in Sydney. Also alcohol is cheaper in Sydney - which is in part taxes and in part protection. (Alcohol is much cheaper in parts of the USA.)

To offset the beaches and restaurants, my cousins had a ski resort up the hill. And food (other than dairy) was cheaper. Quality was high. Dairy seemed to be another industry-protection issue.

And housing was much cheaper and much higher quality.

I remember thinking that Sydney was in a bubble when it got as expensive as Vancouver now is. But then housing prices doubled. After that they seemed to drift upwards.

I have given up predicting the end of the Sydney property bubble. It will happen. It feels like it might happen now. But it has felt like that before. And before that. And before that.

I would rather be short Sydney property than long it (though my wife might object). And that stance has cost me money in the past.

There is a scene in Crocodile Dundee where a New Yorker pulls a switch blade on Dundee. He pulls out an Australian bush knife which is far more impressive.




That is how I felt about Vancouver. You call this a bubble? I am an Australian. I can show you a bubble. Vancouver - that is just kids having fun."

[timber2012]

Renters are immune to exploding zeppelins.

LOL! What a stupid thing to say. Unless renters are in businesses which export to an economy unaffected by the housing downturn they are HOOPED.

The exploding zeppelin is going to smash our local economy and unemployment will skyrocket.

+1
if real estate implodes it will almost certainly be only on the heels of a stock market crash.
So if you're poor your immune - all others are in the line of fire.

I think if the economy improves (ie stock market continues to go up) the government will be forced to increase rates.

If that's the case, I think a stock market crash would come on the heals of a real estate crash. Not vice versa.

I'm looking forward to seeing if my theory proves true. Will be interesting. Luckily my local friendly neighbourhood realtor told me that my block in North Burnaby won't be effected by a downturn - what would I have done without him!

[Austin]

I think if the economy improves (ie stock market continues to go up) the government will be forced to increase rates.

If that's the case, I think a stock market crash would come on the heals of a real estate crash. Not vice versa.

As we are seeing in Canada that interest rates are DROPPING as RE prices are dropping. It's likely the government will only increase interest rates if RE prices start increasing too fast.

[timber2012]

I think if the economy improves (ie stock market continues to go up) the government will be forced to increase rates.

If that's the case, I think a stock market crash would come on the heals of a real estate crash. Not vice versa.

As we are seeing in Canada that interest rates are DROPPING as RE prices are dropping. It's likely the government will only increase interest rates if RE prices start increasing too fast.

I don't think it's cause and effect.

[tdma800]

...on the horizon.

IMO, of course.

http://www.thenownews.com/opinion/real+ ... story.html

I nearly spit juice all over the keyboard when I read that.

- he talks about the USA. This isnt the USA here
- he's complaing about people getting a mortgage, lol, in most countries people borrow money to buy a house - LOL
- he whines about subprime lending in canada - extra special lol
- he whines that renting isn't throwing money away. I couldn't stop laughing at this.