Poor sad prophet!Only in Vancouver, people are delusional enough to think what a great investment real estate is when the rest of the world is contemplating whether we are entering another global recession or something much worse.
ask and ye shall receive.Only in Vancouver, people are delusional enough to think what a great investment real estate is when the rest of the world is contemplating whether we are entering another global recession or something much worse.
I must give it to some of the people on this board, the creative reasoning behind why Vancouver prices are bullet proof no matter if the rest of the world burns to ground is quite fascinating.
PS: ETB, I am waiting for you to dig up some of my old posts in order empower yourself.
by johnlaury » Fri Jan 19, 2007 1:01 pm
Oh yes, and the rich Albertans, how many of these are left? How long will they keep buying? And when they stop buying, what's next? Rich Ontarians? Rich Asians? Rich Mexicans? Rich Somalians? There must be so many rich people out there, and they ALL want to live HERE...
It should be noted that the HPI for a Greater Vancouver detached house at the time of John's prophetic post was 664K, it's now 899Kby johnlaury » Sat Feb 24, 2007 8:34 am
It's simple. If renting is cheaper than buying: rent.
Right now, renting is cheaper than buying; therefore, there is no need to buy.
Eventually, house prices will have to reallign with affordibility. Whether that means high levels of inflation, or a dropping house prices remains to be seen. Either way, now is NOT the time to buy.
now John, given you've seen year after year of increasing prices and unabated demand, could it be that real estate in Vancouver is not a mania as you suggest? Could it be that it's just the fundamental of supply and demand? Any possibility you're wrong on your assessment of the market and what drives it?by johnlaury » Fri Mar 16, 2007 1:13 pm
I will only look at real estate (at least for the time being).
Given that there are many parallels between to stock market mania and the real estate mania, it appears to me that you haven't learned your lesson from your first experience.
Manias are manias. It doesn't matter whether they are stocks, tulip bulbs, stamps sold by Ponzi, or real estate. Manias all build up and crash the same way.
It aint really "englobo" `til its assembled. Has a neighbourhood plan and engineering studies complete. Only then do you have your densities determined...You need to be sure that the infrastructure can bear the proposed use/density and you need the costs of such upgrades to determine the DCCs. Until then you are basically twistin in the wind....So take that on board along with your immaginary friends.....Recently we have had the opportunity to look at some residential englobo land. The sort of stuff semven rabbits on about.
Wow!Of course, there is always a possibility.Any possibility you're wrong on your assessment of the market and what drives it?
I just think it's highly unlikely.
Nice try...Not buying (nobody else is either)In your rush to attack me my mousey mate you didnt get your head around what i was talking about did you.
From your perspective the sites were not englobo. Sorry mousey the sites were amalgamated years ago so no work for you.
Back to the fruit stall.
Well the DAs are all approved and as there has been substantial commencement all you need to do is comply with the LEP and the DCP and the original approval consents.
Of course you need to lodge your ECP prior to starting work, have your inspections throughout. Get the linen plan and WAX lodged before registration with the LPI.
Then you can start on the housing. Changes with NABERs are going to influence orientation and construction methods of each house.
That will of course require new DA's for that, and before you break dirt youll need to get your CC's organised before starting each one.
And guess what Mousey, most of the things i spoke about you have in canada, but are just called different names with different acronyms
I guess the Easter Bunny did all this prior to your arrival then?Well the DAs are all approved and as there has been substantial commencement all you need to do is comply with the LEP and the DCP and the original approval consents.
Whose doing the DA for the houses?
Secondly these developers are selling off excess englobo properties.
1 is listed on the Australian stock market and specialises in Hotels not residential. The other is 75 years old and retiring.
So who made you responsible for trying to prove I’m not a developer, and why should anybody listen to you?
At the present moment it sounds like you are trying to convince yourself!