tag:blogger.com,1999:blog-5936637281134795592.post7723276062815263738..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Into the fire...Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5936637281134795592.post-36993317525503243342010-11-13T21:59:17.651-08:002010-11-13T21:59:17.651-08:00A
"isn't accurate. I think that's a ...A <br />"isn't accurate. I think that's a theoretical number if the average wage earner bought the average house. Of course many bought well before the price spike. Source? "<br /><br />many had bought before the bubble but the point is that from 2007 to 2010, it takes 70% of income to enter the market. Prices are dictated by people entering the market.<br /><br /><a href="http://www.canada.com/vancouversun/news/story.html?k=14891&id=b61baf66-63f5-4fd1-9ef0-2ed822ff06a1" rel="nofollow">vancouversun</a><br /><br /><a href="http://www.cbc.ca/money/moneytalks/2010/08/michael-hlinka-is-a-canadian-housing-bubble-poised-to-burst.html" rel="nofollow">CBC</a><br /><br />" A typical house eats up just more than 40 per cent of income. In Vancouver, it's more like 73 per cent. ".....this just shouts bubble...Anonymoushttps://www.blogger.com/profile/12109140436878091821noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-27194046228422759352010-11-13T20:10:30.717-08:002010-11-13T20:10:30.717-08:00I think your statement:
"..that the average...I think your statement: <br /><br />"..that the average homeowner with a two-story home spends 70% of their household income on mortgage servicing." <br /><br />isn't accurate. I think that's a theoretical number if the average wage earner bought the average house. Of course many bought well before the price spike. Source?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-65847561351909615262010-11-13T14:38:02.014-08:002010-11-13T14:38:02.014-08:00Unfortunately I took this blog off my bookmarks. ...Unfortunately I took this blog off my bookmarks. The story is the same, just a different day. I don't really like reading the same thing over and over again - especially when the predictions have been wrong for a long time. Good luck with it however!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-69250633495531217392010-11-12T23:08:08.023-08:002010-11-12T23:08:08.023-08:00To Krugman's point of rising inventory being t...To Krugman's point of rising inventory being the first indicator:<br /><br />http://vancouvercondo.info/forum/topic/november-data<br /><br />Vancouver has averaged about 3100 new listings every November for the past 10 years.<br /><br />For November 2010, the number of new listings has been about 165/day, which would be almost 5000 for the month!!!<br /><br />To be fair, I will note that sales are also higher than average in November 2010: average has been about 125/day (which would end up as 3750 for the month - well above 3083 for 2009).<br /><br />So, I suspect that both listings and sales should slow down in the second half of the month, or else November 2010 will be a record for both stats.Anonymousnoreply@blogger.com