Friday, July 04, 2008
a buyers' market
Yay! It's a buyers' market!
At least, that is what was breathlessly reported on the CBC Vancouver news at 11:00 PM. The Reasoning is a 43% decrease in sales (timeline not provided), and an 18% increase in listings (ditto, and Huh? It must have been an 80% increase in listings...?). But, it was said, 'prices are still rising, just not at the same pace as recent years.'
Well golly! Colour me finicky, but as far as I'm concerned, the market for any sane buyer will be when the 50% haircut is realized.
And that nice family looks so happy...
side note - I read today (from an unverified authority) that natural gas prices are going to go up by 35% by winter. And that is not going to be due to any carbon tax. Oil hit $145/bbl today.
Energy prices are going to kill the RE market, and the economies of the world. The big shakedown is on. Banks collapsing in the US.
And what would inflation be right about now? 2%? Snicker.
Oh my. If video killed the radio star...