tag:blogger.com,1999:blog-5936637281134795592.post528498313148664432..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Sunday Post #2: Richmond realtor proclaims real estate market in process of a dramatic crashUnknownnoreply@blogger.comBlogger9125tag:blogger.com,1999:blog-5936637281134795592.post-41713510220153290942012-10-16T21:08:13.903-07:002012-10-16T21:08:13.903-07:00A 70% drop in Vancouver prices basically rolls bac...A 70% drop in Vancouver prices basically rolls back housing prices to what they were six years ago when Harper changed the CMHC regulations to allow 0% down with a 40-year amortization period.<br /><br />It's obviously going to hurt -- as folks in Miami, Las Vegas and many other US hotspots can personally attest to -- but it makes sense, given demographics, the stumbling economy and the end of easy credit.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-30971824355670172052012-10-15T11:43:49.665-07:002012-10-15T11:43:49.665-07:00OMG, is that ever fugly...http://cdn.realtor.ca/li...OMG, is that ever fugly...http://cdn.realtor.ca/listing/reb6/highres/2/f1223832_4.jpg?PhotoId=634842726639700000Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-13287557560699307762012-10-15T10:40:10.078-07:002012-10-15T10:40:10.078-07:00Here's another good one:
F1223832 is a home o...Here's another good one:<br /><br />F1223832 is a home on 1.3 acres in Brookswood in Langley with a pool house that they say they spent $900K building (probably high but it does look top notch)<br /><br />Listed 8 days ago at 1.5 million and sold today for 1.3 million... BUT... of course that isn't the whole story.<br /><br />Actually listed March 29 for $2.25 million<br />June 12 dropped to $1.9888 million<br />June 28 dropped to $1.948 million<br />September 24 dropped to $1.5 million<br /><br />Sold for over 40% below original askAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-63895171616130206542012-10-15T07:27:40.566-07:002012-10-15T07:27:40.566-07:00I can see a 70% decline. Especially if interest ra...I can see a 70% decline. Especially if interest rates go back to historical norms and salaries don't increase. Add in the possibility of increased down payments (10% or greater) and you've got the recipe for a massive decline. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-80630228445626640832012-10-15T00:03:59.579-07:002012-10-15T00:03:59.579-07:00I've heard 70% throw around and I think it'...I've heard 70% throw around and I think it's a bit of a stretch. That said, leaving unaffordability out of the equation, this is starting to become a self fulfilling prophecy as Boomers rush to save their retirement.JRnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-10769804554013820672012-10-14T23:49:16.378-07:002012-10-14T23:49:16.378-07:00Wow a drop of over 70% is a bold prediction for ev...Wow a drop of over 70% is a bold prediction for even the most bearish of bears. <br /><br />Is he planning on switching careers after making this post?daversnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-37586061534242218162012-10-14T23:09:47.484-07:002012-10-14T23:09:47.484-07:00I'm actually very shocked a real estate agent ...I'm actually very shocked a real estate agent has made statements like this. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-57738479041272091672012-10-14T16:54:26.323-07:002012-10-14T16:54:26.323-07:00How long before his licence is pulled for being tr...How long before his licence is pulled for being truthful?<br /><br />Cheers,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-33483177442174469602012-10-14T14:17:34.057-07:002012-10-14T14:17:34.057-07:00I always wondered how bad the RE market had to get...I always wondered how bad the RE market had to get before an agent would speak anywhere near the truth of situation. The cat is completely out of the bag now!Anonymousnoreply@blogger.com