The Financial Post front page says: "THE SKY IS NOT FALLING: why the real estate doomsayers continue to be wrong."
Full story here.
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Latest total government (federal, provincial, and municipal), business, and household debt statistics for Canada (to the end of June 2013)
ReplyDeletehttp://stateofthecanadiannation.blogspot.ca/2013/09/latest-total-government-federal_13.html
Big, Bold, Centre article: "The media has gone out of its way to say the market is going to collapse"
ReplyDeleteWhat media? There are only three Canadian housing blogs that I know about who have given dire warnings. Four if one considers The Automatic Earth which also touched the subject.
The rest of media was cheering the lemmings' march towards the slaughter.
I did not bother reading the rest of the article.
Yes, Minsky is here. And the Kubler-Ross model is shifting to anger from denial right about now.
That centre article should read: "The media has gone out of its way to NOT say the market is going to collapse". All I ever seem to see in the MSM are pumper pieces.
ReplyDeleteWhat constantly irks me is that the prediction of home prices coming down is portrayed as negative. Whenever gas, food, or other consumer products lower in price the media portrays that as a good thing, when those things rise, it's spun as a negative for consumers. And rightly so.
ReplyDeleteSo strange that when it comes to housing the default position is always down = bad, up = good. The doomsday scenario for most young families is that home prices don't drop. As a society we should be cheering and hoping for lower prices. To think otherwise is perverse.
That is what happens when 70% of people are home owners with very little or negative equity in non-real estate holdings
DeleteI agree the sky isn't falling but the market doesn't need to crash for us to f*ck ourselves for a generation or two.
ReplyDeleteInteresting chart via vancouver condo info, http://bit.ly/1dg38xp
ReplyDeleteGo and LOOK AT THE SECTION IN TEH TABS at the top of the page where the article is listed in on the weblink.
ReplyDeleteIt is part of the SPECIAL SECTION......or in other words.......the "paid advertising section" masquerading as news.........
This is more of the same old same old bullshit that the RE humpers are surreptitiously placing everywhere they can get their wallets on the table.
nice catch!
Deletethat is why we are the smart one's, half a million 1 million come on give me a break. It just takes
DeleteONE TRIGGER for the whole mess to fall like domino's
So these dooms day predictions have been around for a while now. Where is your collapse? What we read here over and over again is coming from losers that cannot get there act together and rather continue to dream of lower prices than buy their home. Cheez...that bs has been going for along time now.....HEY Losers you need to realize that your price decline you are hoping for WILL NOT HAPPEN!!!!
ReplyDeleteUh...they're happening now. Home prices have declined in Van for 13 months in a row. HPI down 4% since peak of May 2012.
DeleteI think the crash is here, why else would these turds come on our site
Delete4% is irrelevant. That is statistical error.
ReplyDeleteWhere is the crash folks????
Where is the crash. Bought a place June 2012.
ReplyDeleteJust sold for $200k more. No work done to it. Rented it out for a year and sold in 10 days for 200 k over what I paid a year ago..
You must have the RE accument most of us are lacking. Can you give us the mls # of this 200k gain so we can learn from you? Did you use the winfall to buy another property? Some real data will be useful.
DeleteSeeking Knowledge.
Annectode, not data.
DeleteVery sorry to hear how a small-minded person thinks. RE gains are just a transfer of wealth. You are up 200k, and someone is down 200k.
DeleteYou are nothing but a leech.
I've been a RE bear for a long time because the data supports it, but human nature is less predictable and a lot more stubborn. However, I will not ignore facts. If this guy really made money in this market, I would like to know how, but I think he is bs'ing and he won't reply.
Delete"In God we trust. Everyone else, show me the data."
Seeking Knowledge.
You cannot trust any of the RE reports as there no consequences for misleading information.
ReplyDeletehttp://www.greaterfool.ca/2013/09/10/mlscapades/
A recent report on TV media was that sales in Vancouver were up, and so were the average prices in Canada.What about the average prices in Vancouver?They forgot to mention they were down.
Some of the older townhomes in Burnaby are now selling at 2007 prices.
Anonymous makes a good point. It's been years and still no crash. That proves there will be no crash.
ReplyDeleteI have been smoking for 20 years and still no cancer. That proves I won't get cancer.
Hi, I am wondering if anyone has updated numbers for the following:
ReplyDelete- Household expenses vs income for BC
- Net Exports (Imports) for both international and interprovincial trade - by Province
- Migration statistics for BC
Thanks