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tdma800
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Re: How far can it drop? 20% or 30%?

Fri Dec 02, 2016 8:30 am

ladies and gentlemen, we're going to the moon

http://images.dailyhive.com/20161129180 ... sale-1.jpg
 
jimtan
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Re: How far can it drop? 20% or 30%?

Sun Dec 04, 2016 7:44 pm

As the moon keeps descending...

"Vancouver Home Sales Decline for 5th Straight Month in November"

https://www.bloomberg.com/news/articles ... n-november

As even Bloomberg takes an interest, I have an anecdote. A new development is about to be launched. I peeked in on the restricted pre-sale. Only a few Chinese were looking over the model. Just a traction of the good ole days. Not a single white person. Bang!  :D
 
tdma800
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Joined: Wed Jan 23, 2008 9:12 am

Re: How far can it drop? 20% or 30%?

Sun Dec 04, 2016 8:53 pm

Canadian Media , not some American stuff - http://globalnews.ca/news/3101881/foreign-buyers-arent-to-blame-for-vancouver-real-estate-chaos-says-cmhc-ceo/
 
jimtan
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Re: How far can it drop? 20% or 30%?

Tue Dec 06, 2016 1:14 am

tdma800 wrote:
Canadian Media , not some American stuff - http://globalnews.ca/news/3101881/foreign-buyers-arent-to-blame-for-vancouver-real-estate-chaos-says-cmhc-ceo/

I prefer to go with the facts. Canadian facts...

"The Ghost City

Stats Show Alarming Number of Vacant Homes

… Perhaps an issue we can all agree on is the number of empty homes never lived in. A recent report from Better Dwelling highlights 10% of homes being resold in Vancouver have never been lived in. Like this one at 1235 West Broadway, built in 1989 but according to the Realtor has had an impressive 27 year vacancy.

… From January 2016-October 2016
450/968 (46%) of condo sales were sold as vacant.

… To add to this, the number of active listings in the Brighouse marked as vacant sits at a healthy 40%. Make no mistake the number of vacant listings is obviously higher due to sellers choosing to sell the home as vacant vs tenanted or even owner occupied. Many times it can make a sale easier. But still, 46%?!

In comparison, Vancouver condos sold as vacant was 25%. Current vacant listings in Vancouver sit at 27%. Still an alarmingly high number, but pales in comparison to The Ghost City.

Is more supply really the solution if much of it is left empty? Perhaps other municipalities need to get serious. Time for Malcom Brodie and the gang step up and do their job in The Ghost City, I mean Richmond…”

http://vancitycondoguide.com/the-ghost-city/
 
tdma800
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Re: How far can it drop? 20% or 30%?

Tue Dec 06, 2016 1:18 am

 
jimtan
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Re: How far can it drop? 20% or 30%?

Tue Dec 06, 2016 2:01 am

More facts...

"Richmond Market Fluctuating with Foreign Demand

Myself, friends and family appear to leaving en masse. But why?

Richmond, now the fourth largest city in BC and growing has changed dramatically over the last 10 years. Richmond has the highest immigrant population of any city in Canada. Roughly 50% of Richmond residents are Chinese as per city stats. With that, appears to have brought a flight of overseas capital. As evidenced by recent foreign buyer data released by the provincial government which indicated almost 25% of real estate transactions were from foreign buyers (90% were from China)...

But perhaps more disheartening is wealthy homeowners are declaring little to no income taxes. The upscale neighbourhood of Thompson which consists of multi million dollar single family homes declared the second highest level of household poverty in Richmond. Second only to downtown Richmond which consists of mostly condos and renters. Overall 22.4% of Richmond declares low income, but that rises to 26.2% in Thompson...

Perhaps these solutions are already working themselves out. Median sales price shows a price decline of 11% since June. Sales/actives ratio (an indicator of demand) has dropped from 48% in March to just 8% in October. Richmond detached now has 12 months of inventory- a clear sign of a buyers market.

All hope is not lost in Richmond."

http://vancitycondoguide.com/richmond-m ... gn-demand/

The people have spoken. Fools fail to listen. :mrgreen:
 
eyesthebye2
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Posts: 1171
Joined: Sun Jul 27, 2014 6:41 am

Re: How far can it drop? 20% or 30%?

Tue Dec 06, 2016 10:46 am

Can you believe Melissa Mccarthy is Jenny Mccarthy's cousin? Likewise, I can't believe the city of Richmond, next to a jewel like Vancouver could be so unattractive.
 
tdma800
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Re: How far can it drop? 20% or 30%?

Tue Dec 06, 2016 6:02 pm

http://www.theglobeandmail.com/real-est ... e33066752/

not just some guy with a godaddy website. real news
 
jimtan
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Re: How far can it drop? 20% or 30%?

Fri Dec 09, 2016 12:02 am

There's always someone buy buys at the top and someone and who sells at the bottom. Could you be the one doing both?

Get ahead of the curve.  :mrgreen:


"Market indicator hits extreme levels last seen before plunges in 1929, 2000 and 2008

... Newman said even if the market's earnings increase by 10 percent under Trump's policies "we're still dealing with the same picture, overvaluation on a very grand scale."

http://www.cnbc.com/2016/12/08/market-i ... unges.html
 
tdma800
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Joined: Wed Jan 23, 2008 9:12 am

Re: How far can it drop? 20% or 30%?

Fri Dec 09, 2016 12:05 am

 
jimtan
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Re: How far can it drop? 20% or 30%?

Tue Dec 13, 2016 7:18 pm

This moon guy is incredibly stupid. He uses a SPONSORED article as evidence. Probably means that the condos are not selling.  :mrgreen:

"Buyers are snapping up spacious condos at Edward in Vancouver’s South Cambie neighbourhood

SPONSORED..."

Back in the real world, the Federal Reserve OMC will be meeting tomorrow. Will they raise the FF a quarter or a half? We will also get a better sense of their intentions for 2017  :!:
 
tdma800
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Joined: Wed Jan 23, 2008 9:12 am

Re: How far can it drop? 20% or 30%?

Tue Dec 13, 2016 7:20 pm

we're going to the moon http://vancouver.24hrs.ca/2016/09/28/commercial-real-estate-to-surge-remax
 
Justice
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Posts: 25
Joined: Fri Mar 01, 2013 7:14 pm

Re: How far can it drop? 20% or 30%?

Thu Dec 15, 2016 12:04 am

tdma800 wrote:
we're going to the moon http://vancouver.24hrs.ca/2016/09/28/commercial-real-estate-to-surge-remax

Didn't you forget to add "Confucius say..." in front of that?
 
tdma800
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Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: How far can it drop? 20% or 30%?

Thu Dec 15, 2016 6:23 am

Thirty thousand a year need a place to live
 
jimtan
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Re: How far can it drop? 20% or 30%?

Sun Dec 18, 2016 5:39 pm

After the SPONSORED debacle, the moon man uses a Remax propaganda piece.  :roll:

Reminds me of my realtor sending an email saying that the market is alright. The falling average is NOT indicative of the market. Just ignore the 6% sales to listing ratio.  :wink:

Meanwhile, Donald threatens American companies. Can it be good for Canada?  :?:

"Trump’s Threat Damps Companies’ Plans to Move U.S. Jobs Abroad"

https://www.bloomberg.com/politics/arti ... obs-abroad

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