1)What i say on here, will not move markets. It may make a few sensible people think. And that is a good thing.
2)Said a dozens of times, im looking to buy a recreational property in BC interior.
3)The cash is sitting in my bank account in Canada. Removes foreign exchange risk. I dont need to borrow anything to buy. So I could buy tomorrow - but then i would be a friggin psycho!
4)Im very patient, while i wait for the market to correct to normal levels. How patient? Over 3 years! Last time i came over I rented - doesnt worry me. Renting is fine.
5)Last offer I made in June 2008 - the owner still hasnt sold. In fact in that segment of the market there were 0 sales this year, last property sold January 2010 (2 years ago) and the stock is building up.
6)Around the world, markets are crumbling, and you would have to be totally delusional to think it wont effect Vancouver. That is stupid to think that it is some oasis. Yet we have a few here who will try and tell you that.
7)And while I wait, ill continue to post conflicting economic facts, uncomfortable realities, that will affect Vancouver, on a forum where a number of posters have undeclared vested interests.
It would be nice for all those who are in the industry or feed off the property industry on this board to declare their interests. Semven why dont we start with you.
Jesse, im making a couple of major calls at the moment. Foreign exchange and gold. (Gold of course is denominated in US$). Got to be as liquid as you can at the moment.
The interesting thing is that Canadian interest rates are barely off emergency rates. Youve got practically nowhere to go. The banks in Australia are basically saying that the central bank may reduce rates, yet the margins will increase as the cost of money in the markets rise, with the net effect of very little downward movement
Two key issues in all this is economic reality and fear and greed. And they are world wide not just the USA or Europe. 2012 will seem like the end of the world for many.
You build up these bubbles and it is very painful as they unwind.
Geezer: "What if somebody listened to Taipan and doesnt buy".
Well, they will thank their lucky stars, that they arent one of the thousands of miserable souls who cant sell their properties in 2013!