tag:blogger.com,1999:blog-5936637281134795592.post4622975500883075805..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: New home sales on the West side of VancouverUnknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5936637281134795592.post-50019445593305789972012-02-24T14:43:15.954-08:002012-02-24T14:43:15.954-08:00my Dad was a realtor in the early 80's and did...my Dad was a realtor in the early 80's and did exactly what your friend or acquaintance is doing, it could not have turned out worse for our family:(<br /><br />He never really did recover from it, he lost everything and his confidence with it. It's so comical to hear so many people saying that Real Estate never goes down, it's different this time blah blah blah....<br /><br />If you're over invested you don't really have the pleasure of waiting it out, especially knowing that it can sometimes take a decade for things to recover, the banks are funny in that they still want their payments every month.Molokonoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-34562346248479465102012-02-24T00:51:48.141-08:002012-02-24T00:51:48.141-08:00...minimize losses being ACCRUED on interest payme......minimize losses being ACCRUED on interest payments...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-18432236061762060502012-02-23T21:37:23.014-08:002012-02-23T21:37:23.014-08:00Once the lynchpin is pulled, the collapse will sta...Once the lynchpin is pulled, the collapse will start and nothing will stop it. A downward market feeds on itself and as momentum builds, it just collapses faster. I've seen it several times before in Van (yes I'm an old-timer).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-3518618788336484962012-02-23T15:25:44.820-08:002012-02-23T15:25:44.820-08:00But London is still afloat with high prices, no?But London is still afloat with high prices, no?Macnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-7115125124872044532012-02-23T15:01:24.120-08:002012-02-23T15:01:24.120-08:00As a Brit who travels between the States and the U...As a Brit who travels between the States and the UK, I find eerie parallels between real estate bubbles here and the London property bubble. Same argument about Chinese money flooding in etc. I do remember being at a US meeting in 2006 I think, and heard a secretary talk about how she'd purchased two condos because "real estate never goes down". That's how I knew it was a massive bubble!international property investmentshttp://www.greenworldbvi.com/alternative-investments-options/international-property/noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-91508737512052958832012-02-23T11:50:25.673-08:002012-02-23T11:50:25.673-08:00Your man has a HUGE margin, if the numbers you quo...Your man has a HUGE margin, if the numbers you quoted above are correct. He could sell for 300K over costs and each partner could walk away with a hundred grand for 8 months of supervisory work. Easy money, still in that area of the market unbelievably. <br /><br />What's more interesting to me are the small fry. The guys who bought condos recently (during the recent stimulus) hoping to ride the endless demand wave up. Case in point is a condo development I visited near Oak almost two years ago. A 2-bed & den was selling for 795K + 12% HST. We passed but then saw it again as a rental. Spoke to the guy who bought it for 795K (developer would not budge on price). He asked us for $2,200/mth. We passed again. He told me his plan was to rent it and hold it for two years when the price went up.<br /><br />Well, true to his plan, it's been two years and it's been on the market now for 6 months at 895K with no sale as of yet. He must have made about 35K in net income against the 50K in agent fees to both buy and sell the place, plus 100K for HST. Nice!Macnoreply@blogger.com