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tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 11:44 am

^--bestiality  references
 
reallyreal2
Real Estate Talker
Posts: 675
Joined: Fri Jun 03, 2016 11:30 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 1:45 pm

Stats are out for January 2017.

Worst January in the last 6 years in terms of number of sales for residential detached.  Prices down.  Morale down.  Chinese can't get money out and those that can, can't buy here.  

Where or where have the buyers gone.... LOL
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 1:47 pm

Winter is always slow for any year. Increased  January for as long as can be remembered. Happiness up.  Prices up. People who need to can get cash out, and those that can't dont buy in Vancouver.  Purchasers are everywhere
 
jimtan
Real Estate Talker
Topic Author
Posts: 5427
Joined: Tue Jul 31, 2007 10:59 pm

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 3:03 pm

Purchasers are everywhere except Vancouver.  :mrgreen:

It's official...

"Home sales plummet in previously red-hot Vancouver"

http://www.cbc.ca/news/business/vancouv ... -1.3964003
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 3:06 pm

Buyers are in Vancouver. more people coming.  We're going to the moon!
 
2000sqft
Real Estate Talker
Posts: 38
Joined: Fri Jan 20, 2017 8:17 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 4:13 pm

Tsawguy wrote:
January 2017 numbers from The Greater Fool blog.

1. Processed and Sold in January: 313 in 2017 vs 763 in 2016; down 59%
2. Average Sold Price in January: $1.58 million in 2017 vs $1.83 million in 2016; down 14%
3. Median Sold Price in January: $1.28 million in 2017 vs $1.46 million in 2016; down 12%
4. New Listings in January: 1,921 in 2017 vs 2,031 in 2016; down 5% (keep this in mind when reviewing the over $3 and $5 million stats below)
5. Average New Listings Price in January 2017: $2.65 million (or 68% higher than the Average Sold Price in January 2017)
6. Median New Listings Price in January 2017: $1.92 million (or 50% higher than the Median Sold Price in January 2017)
7. Number of Houses Sold over $3 million in January: 22 in 2017 vs 105 in 2016; down 79%
8. New Listings for Houses Asking over $3 million in January: 485 in 2017 vs 430 in 2016; up 13%
9. Total Current Listings for Houses Asking over $3 million: 1,073 houses.
10. Sales-to-Listings Ratio for Houses over $3 million: 2% or approx. 4 years of supply or inventory at this sales rate.
11. Number of Houses Sold over $5 million in January: 6 in 2017 vs 23 in 2016; down 74%
12. New Listings for Houses Asking over $5 million in January: 170 in 2017 vs 139 in 2016; up 22%
13. Total Current Listings for Houses Asking over $5 million: 405 houses
14. Sales-to-Listings Ratio for Houses over $5 million: 1.5% or approx. 5 years of supply or inventory at this sales rate.
Bonus Stat #1. Dollar Value of Houses Sold in January: $494 million in 2017 vs $1.4 billion in 2016; down over $900 million in Greater Vancouver alone.  This does not include the Fraser Valley or the rest of the province.  At this rate, the BC government will collect $300 million less in Land Transfer Tax (aka. Christy Clark’s 2015 and 2016 windfall profits to balance the BC budget).
Bonus Stat #2:  Of the 313 sales in January, 91% of those Detached Houses sold for less than their original asking price.  (versus approx. 33% in January 2016)

Not even a realtor (or tdma) could find the bright spot in those numbers...

these numbers dont scream crashing..in fact these numbers are a lot better than whats been posted in those biasd newspaper articles
re sold under asking. of course...have you seen how much people are asking? most sellers are asking PEAK prices if not MORE
To the moon and beyond!...at $2000 per sq ft
 
reallyreal2
Real Estate Talker
Posts: 675
Joined: Fri Jun 03, 2016 11:30 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 5:19 pm

Disaster numbers from January.

You know its bad when realtors are complaining about the media - crying all the way to their over leveraged homes.

lol

If anything the media is underselling how bad it is. If they had any balls, they would investigate the industry, the kickbacks, the fraud and everything else that is commonplace.

We gonna believe the media or realtors who told us that it wasn't foreign buyers then cried about a tax that preceded a disastrous 8 months.

LOL
Last edited by reallyreal2 on Thu Feb 02, 2017 5:21 pm, edited 1 time in total.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 5:21 pm

2000sqft wrote:
Tsawguy wrote:
January 2017 numbers from The Greater Fool blog.

1. Processed and Sold in January: 313 in 2017 vs 763 in 2016; down 59%
2. Average Sold Price in January: $1.58 million in 2017 vs $1.83 million in 2016; down 14%
3. Median Sold Price in January: $1.28 million in 2017 vs $1.46 million in 2016; down 12%
4. New Listings in January: 1,921 in 2017 vs 2,031 in 2016; down 5% (keep this in mind when reviewing the over $3 and $5 million stats below)
5. Average New Listings Price in January 2017: $2.65 million (or 68% higher than the Average Sold Price in January 2017)
6. Median New Listings Price in January 2017: $1.92 million (or 50% higher than the Median Sold Price in January 2017)
7. Number of Houses Sold over $3 million in January: 22 in 2017 vs 105 in 2016; down 79%
8. New Listings for Houses Asking over $3 million in January: 485 in 2017 vs 430 in 2016; up 13%
9. Total Current Listings for Houses Asking over $3 million: 1,073 houses.
10. Sales-to-Listings Ratio for Houses over $3 million: 2% or approx. 4 years of supply or inventory at this sales rate.
11. Number of Houses Sold over $5 million in January: 6 in 2017 vs 23 in 2016; down 74%
12. New Listings for Houses Asking over $5 million in January: 170 in 2017 vs 139 in 2016; up 22%
13. Total Current Listings for Houses Asking over $5 million: 405 houses
14. Sales-to-Listings Ratio for Houses over $5 million: 1.5% or approx. 5 years of supply or inventory at this sales rate.
Bonus Stat #1. Dollar Value of Houses Sold in January: $494 million in 2017 vs $1.4 billion in 2016; down over $900 million in Greater Vancouver alone.  This does not include the Fraser Valley or the rest of the province.  At this rate, the BC government will collect $300 million less in Land Transfer Tax (aka. Christy Clark’s 2015 and 2016 windfall profits to balance the BC budget).
Bonus Stat #2:  Of the 313 sales in January, 91% of those Detached Houses sold for less than their original asking price.  (versus approx. 33% in January 2016)

Not even a realtor (or tdma) could find the bright spot in those numbers...

these numbers dont scream crashing..in fact these numbers are a lot better than whats been posted in those biasd newspaper articles
re sold under asking. of course...have you seen how much people are asking? most sellers are asking PEAK prices if not MORE

not only that, they're from a known negative person in Ontario. 
 
VanLord
Real Estate Talker
Posts: 288
Joined: Fri Aug 24, 2007 3:52 pm

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 5:27 pm

At this rate, the BC government will collect $300 million less in Land Transfer Tax (aka. Christy Clark’s 2015 and 2016 windfall profits to balance the BC budget).

I like this stat...I knew this was gonna happen, but she doesn't care because the budget doesn't come out until after the election.  Maybe I won't love this stat so much when she devises a new way to rape and pillage our collective rectums to make up for the loss of revenue...after the election all bets are off, I suspect they will cancel the tax come summer (assuming they get re-elected)
 
reallyreal2
Real Estate Talker
Posts: 675
Joined: Fri Jun 03, 2016 11:30 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 5:32 pm

VanLord wrote:
At this rate, the BC government will collect $300 million less in Land Transfer Tax (aka. Christy Clark’s 2015 and 2016 windfall profits to balance the BC budget).

I like this stat...I knew this was gonna happen, but she doesn't care because the budget doesn't come out until after the election.  Maybe I won't love this stat so much when she devises a new way to rape and pillage our collective rectums to make up for the loss of revenue...after the election all bets are off, I suspect they will cancel the tax come summer (assuming they get re-elected)


Can't rely on PTT as much as we do.

Much like Alberta relying pretty much on oil for revenues. When oil tanks they all start blaming someone else instead of looking inward.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 5:36 pm

VanLord wrote:
At this rate, the BC government will collect $300 million less in Land Transfer Tax (aka. Christy Clark’s 2015 and 2016 windfall profits to balance the BC budget).

I like this stat...I knew this was gonna happen, but she doesn't care because the budget doesn't come out until after the election.  Maybe I won't love this stat so much when she devises a new way to rape and pillage our collective rectums to make up for the loss of revenue...after the election all bets are off, I suspect they will cancel the tax come summer (assuming they get re-elected)

Its a classic win win.  Focusing on the transfer tax is the way to go, and takes money from the right source.
 
reallyreal2
Real Estate Talker
Posts: 675
Joined: Fri Jun 03, 2016 11:30 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 8:18 pm

http://vancouversun.com/business/local- ... eal-estate

More biased reports from the professional media.

Well, this is a professional reputable website. Any tom dick and harry can get a realtor license and claim the market to be hot - LOL

2000sqft - cue the crying
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 8:21 pm

^^--- irrelevant country's financial story

Realtor licenses are hard to obtain with a stringent exam required. All candidates must be of good reputation to quality.

To the moon!
 
eyesthebye2
Real Estate Talker
Posts: 1162
Joined: Sun Jul 27, 2014 6:41 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 8:31 pm

reallyreal2 wrote:
Stats are out for January 2017.

Worst January in the last 6 years in terms of number of sales for residential detached.  Prices down.  Morale down.  Chinese can't get money out and those that can, can't buy here.  

Where or where have the buyers gone.... LOL


"The benchmark price for detached properties is $1,474,800. This represents a 6.6 per cent decline over the last six months and a 0.6 per cent decrease compared to December 2016."

All the jawboning the last 6 months about the market crashing and its 6.6%?
Way too funny.
 
reallyreal2
Real Estate Talker
Posts: 675
Joined: Fri Jun 03, 2016 11:30 am

Re: LePage Expects Vancouver Housing Correction in 2017

Thu Feb 02, 2017 10:20 pm

I am sure those who jumped in in June before they were "priced out forever" are laughing about the 7% decrease . Hilarious.

Good night ETB. Tomorrow will be yet another morning where you wake up wrong about the market.
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