macho slob commented on his disappointment with the disconnect between the blog's title, and some of the recent subject matter. Fair enough, I guess.
Here is some RE schtuff for ye;
I read over at the pope's place (from awum - from Landcor - @ Rob Chipman's) that East Van. condos are crashing - by 15%! It's about time. Check it out at the pope's - there is a graph, and everything! I wonder what that will do to the "W".
Meanwhile, The Province has the headline - Housing market to sink after Games: Expert.
the Olympics will create 3,000 new housing units, which will flood the market.
He said the underlying conditions for a bubble-burst are arriving -- income stagnation, rising interest rates and over-supply of units.
The latest figures show that it takes 79.2 per cent of the average Metro Vancouver income to buy a 1,500-square-foot house, an 18-year-high.
and what happened then?
Metro Vancouver's median income of $59,000 wouldn't qualify for a mortgage on the average house, now $648,592.
Ere, no shite Sherlock.
On the CBC News World 30 minutes ago - 'Toronto home sales down 2% in January, 7% in February, and 22% in March'. Realtors (the only ones at the open houses) blame bad weather.
"Don't worry Maggie, said Seamus incoherently, It'll soon be Summer".
Indeed.
So yeah, I've not been writing specifically of Vancouver Real Estate lately, but what is there to say about it any more? You all know as well as I do that things have been out of line for a long, long time, and we have expected each Spring to spring the trap. Maybe it is this Spring.
We are only really interested in the bottom though. Right?
In the mean time, it's interesting to look at the bigger picture, is it not?
5 comments:
i think that once this 'rain' issue clears up prices will go through the roof! 1 000 000 $ for eastside 2 bdrm home.
also...i got my fingers crossed for global warming...this way collingwood will be waterfront.
BUY IN COLLINGWOOD NOW!
spark
Hey Sol, I for one, am loving your "alternative" content... looking forward to your promised musings on the mark of the beast, chip implants and the like.
The red pill was great tasting but hard to digest!!! No regrets but it certainly makes for some hard days at times. It's a blessing to find like-minded crazy people here.
mk-kids
back to the words of White Rabbit by Janis Joplin:
"Feed your head" :-)
White Rabbit by Janis Joplin
Actually, that was Grace Slick and Jefferson Airplane. But I hear ya.
My favourite Janis Joplin line is It's all the same fucking day, Man. (And the same bubble over and over again.)
I just fed my head. Long-term memory intact. I still remember what the dormouse said - even if logic and proportion (in the RE market) have fallen sloppy dead.
Oh my.
chilliwack's re board, cadreb is still trying to cook the books for march. keep an eye on cadreb.com. when the stats do come out they will be ugly. esp. keep an eye on condos and lots for development. many condo projects finishing all at once like vibe, newmark and tuscany. some poor guy trying to rent out three condos on craigslist for over 1000. you can rent a farmhouse in the wack for the same.
joe6p
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