Take a look at the "Vancouver Housing Market Blog". There are a few good posts, with some analysis on the Vancouver Housing Market. Looks like prices, in some areas, are dropping slowly month to month.
If this trend keeps going there will be a 20% drop, by year end, in some Vancouver areas.
Vancouver Housing Market Blog - See side bar for Blog Feed.
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11 comments:
you are bitter aren't you? maybe you should have invested when you could of. sucks to be you
Sorry to disappoint you,
I just Sold my house, which I bought 8 years ago. Bitter is not quite what I would call myself. Cautious would be a better description.
Housing has appreciated, over the past few years, at an astonishing rate. Fueled by low interest rates, hype, and longer amortization Mortgages.
Prices have become out of reach for most trying to get into the market. This will become a problem for Condo owners trying to sell to First Home Buyers.
Not to mention the major housing correction in the US is impacting our lumber and other resource based industries. My agents have all said we are usually about 6-8 months behind the US in housing trends.
I have a very strong feeling that the Canadian Housing Market is just coming into a correction. The stats, over the last few months and the amount of listings that aren't selling in my neighbourhood are pointing towards this.
Funny that anonymous figured that since you believe the housing market is in an 'iffy' state that you must be a bitter person who missed out on 'investing', particularly when you explain the fact that you just recently sold your house right there on the top of your blog.
He/She probably said that about people who sold their Tech. Stocks before the crash.
I would love to buy a house right now. I don't want to pay rent, when I could be putting it towards the principle on my mortgage.
Unfortunately my feelings that the market is going to correct are getting in the way of that.
I too sold in September. Bought in Feb 2004 and had a change of circumstances(kids moved out). Friends and relatives tell me I am a genius. But it was dumb ass lucky timing. I would not buy now. I am 50 and have owned houses since Iwas 23. Feels weird to not own right now-but right. Smart move Uncertain Buyer.
I Sold due to a job transfer and got a little paranoid when things started to slow down dramatically.
Right place at the right time??
Hey uncertain buyer- I predict great prospertiy for you. You couple humility with intellignec.
Mahatten vs. Vancouver - whatever
But I'm glad you got in on that guy trying to figure out his life. The advice of buy cause you're lazy and renting advice p'ed me off... but I can't get a post going on that site.
If I could, I would tell that guy to rent small - put pride in the back and get the $300-400 basement craphole and wait it out... if he can afford now, then he can certainly afford when things get a bit better...
I posted this over on Van Condo info but thought I'd share here...
This is on the CKNW Site right now...
Many shocked by Assessment rolls
Jan, 04 2007 - 12:50 AM
VANCOUVER/CKNW(AM980) - The President of online real estate analysis company Landcor says Canada's best kept secret is out and that's why BC assessment values are through the roof.
Rudy Nielsen says the rest of the country has figured out you can golf, fish and ski in one day within BC's borders and our wealthy neighbours to the east are among those who want to take advantage of what the Province has to offer, "The Albertans bought a billion and a half dollars worth of land here last year, about 41-hundred properties, just for secondary homes, so as long as oil prices stay at 56 a barrel or better, the Albertans are going to make BC their playground."
With Whistler experiencing a drop in assessment value, Nielsen believes it's the resort area's unaffordability that has brought real estate prices down.
- you can golf, fish and ski in one day within BC's borders - like freako asks - any one ever do this?
At least he pokes holes in the his own world - so as long as oil prices stay at 56 a barrel or better - keep hoping
Nielsen believes it's the resort area's unaffordability that has brought real estate prices down.
- because that will never happen in Vancouver... WTF?
Exactly if no one can afford it then there won't be any buyers......period.
I think that is what this is going to come down to. People are starting to wake up and realize that there is a lot hype going on here.
Albertans are not all stinking rich. Sure, on average they make more but they also spend way more on their big ugly trucks, beer, crack, eating out and buying their slutty chicks drinks at the bar.
We should force every person who goes to Alberta seeking riches to stay there after the bust. Then their government can take care of all of societies burdens instead of ours.
looks like you were way off, prices went up in all areas
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