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jimtan
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Why is the inventory so low?

Wed May 18, 2011 12:24 pm

Looks like just 3 MOI at Agent Will's site. Why so low?
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eyesthebye
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Re: Why is the inventory so low?

Wed May 18, 2011 12:35 pm

and detached inventory has started to drop.
We've lost about 5% of the detached listings in the past week.
the cure for higher prices is moving to a destination with lower prices
 
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jesse1
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Re: Why is the inventory so low?

Wed May 18, 2011 1:06 pm

Yes and slowing sales too. Evidence the market is still not cold; in fact, some might even call it "hot".

I will now relay to you the true story of a friend who worked for a local tech company from the mid-90s until about 2003. He had options in this company, that was producing decent earnings and was trading at 40x earnings in 1999. Stock went to over $200. Just one more doubling of the price and he could have retired the next day. Instead he, and the rest of employees, got an email one morning from the CEO stating in no uncertain terms that any employee, or close acquaintance or relative of an employee, caught trading company stock would be subject to potential insider trading penalties and prosecution. After the blackout ended, the stock fell -- though not in a straight line -- from over $200 to under $4. My friend's prospects drifted from early retirement. Hoping for a subsequent rally, he refused effective offers to: buy a house in cash, then buy half a house in cash, and eventually capitulated by settling for a sports car.

Now that was dot bomb which is not the same thing as real estate (because it's different). I just thought I would relay the real-life parable as indication of what can happen, even to the nicest of people, including regular posters here.
 
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Thompson
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Re: Why is the inventory so low?

Wed May 18, 2011 3:12 pm

Yes and slowing sales too.
No, sale wasn't slow, it was actually all time high...see the graph of sale in AgentWill's stats by yourself.
I will now relay to you the true story of a friend who worked for a local tech company from the mid-90s until about 2003. He had options in this company, that was producing decent earnings and was trading at 40x earnings in 1999. Stock went to over $200. Just one more doubling of the price and he could have retired the next day. Instead he, and the rest of employees, got an email one morning from the CEO stating in no uncertain terms that any employee, or close acquaintance or relative of an employee, caught trading company stock would be subject to potential insider trading penalties and prosecution. After the blackout ended, the stock fell -- though not in a straight line -- from over $200 to under $4. My friend's prospects drifted from early retirement. Hoping for a subsequent rally, he refused effective offers to: buy a house in cash, then buy half a house in cash, and eventually capitulated by settling for a sports car.

Now that was dot bomb which is not the same thing as real estate (because it's different).
So, what's your point if you really believe what you said here "it's different"? :wink: By the way, I can give you many happy stories in stocks, such as Apple, FFIV, AMZN, PCLN, and many more, but they are all pointless to real estate.
I just thought I would relay the real-life parable as indication of what can happen, even to the nicest of people, including regular posters here.
Right, good people also can have Cancer, I'll go home to kill myself now. Thank you.
 
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jesse1
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Re: Why is the inventory so low?

Wed May 18, 2011 3:24 pm

it was actually all time high
It WAS. Now it's not. Will tracks the Vancouver core only, not the periphery. April sales were the lowest in 10 years. May is marginally better but not by much. Don't get me wrong; sales are strong and prices high. It's a great time to buy or sell. Well I'd recommend more selling than buying but that's just me. Now... look at my track record on portending lower prices: obviously that's a giant marquee "buy" signal if there ever was one.
 
jimtan
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Re: Why is the inventory so low?

Wed May 18, 2011 7:01 pm

" Areas included for the count are: Vancouver West, Vancouver East, Burnaby, Coquitlam, Port Moody, Port Coquitlam, New Westminster, Richmond, North Vancouver, and West Vancouver. South of Richmond, East of Port Coquitlam (Maple Ridge/Pitt Meadows), and North West of West Vancouver (Islands, Squamish, and Whistler) are not included."
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jesse1
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Re: Why is the inventory so low?

Wed May 18, 2011 7:56 pm

Oops jimtan is right. Still sales are no longer at an all-time high. I stand by my previous statement that it's a great time to buy or sell. You heard it here first.
 
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Thompson
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Re: Why is the inventory so low?

Wed May 18, 2011 8:06 pm

Now... look at my track record on portending lower prices: obviously that's a giant marquee "buy" signal if there ever was one.
Why do you think people should treat you so seriously even as a contrary symbol?
 
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jesse1
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Re: Why is the inventory so low?

Wed May 18, 2011 8:21 pm

Why do you think people should treat you so seriously even as a contrary symbol
I don't. So... why is inventory so low?
 
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registered
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Re: Why is the inventory so low?

Thu May 19, 2011 7:03 am

I don't. So... why is inventory so low?
Speculator driven market.
the dogs bark but the caravan moves on
 
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hazuchan
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Re: Why is the inventory so low?

Thu May 19, 2011 8:42 am

I'll venture a stupid conjecture to waste your time: the Canucks playoff run.

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