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".
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?