A New Start

Some people will know that I began blogging around, oh, 2005 or something. It was a new technology, it looked cool and I decided to jump in.

The problem, of course, was I didn’t have as much to say as I thought.

The solution was to post daily real estate numbers from the Real Estate Board of Greater Vancouver (REBGV) as well as the Fraser Valley Real Estate Board (FVREB)

These daily stats begin by downloading daily reports of sales and listings on the Real Estate Board of Greater Vancouver’s MLS system. I then run through a custom PHP script to make the posting process easier and display some info that I think is important for getting sense of how the market is doing – in addition to sales price we see list price, the difference between the two and the time it takes to sell the average property.

I had Trish posting the stats on their own until December 31st of 2017, at which time the blog went into a holding pattern; then the site got hacked a few weeks ago, requiring some action on my part.

And so now we’ve got a new edition of the blog, stripped down and ready for the world.

What’s different today compared to 2005, when I started blogging? It might be easier to list what isn’t the same. A few things have remained consistent:

  • The Lower Mainland real estate market continues to defy logic;
  • Interest rates are still crazy low;
  • There are lots of experts willing to explain what’s happening;
  • Developers are still building like crazy;
  • There are still lots of people explaining the classic signs of a bubble;
  • Garth Turner is still wrong about Vancouver real estate.

What’s changed?

  • Where locals used to blame locals for irrational exuberance the party line is to now blame foreigners;
  • Some media people have become very interested in and have paid a lot of attention to the market;
  • The market is regarded as bing in “crisis”, although the term “crisis” means different things to different people;
  • We now have a political party in power that seems to want to “solve” the “problem”;
  • There are lots of claims of money laundering, but the definition of money laundering is fluid;
  • There are likewise claims that speculation is the villain, but again, the definition of speculation is fluid;
  • The market has fragmented in at least two very noticeable ways –
    • into those who have equity and those who don’t,
    • and more recently between attached properties and detached properties.

There’s a lot of interesting stuff to talk about there and I know there are lots of opinions on them. So…I’ll start posting some stats again, and anyone who wants to can start talking about stuff. I need to approve your comments, but the only ones I won’t approve are real spam. Spam is about the only thing I think should not be protected by the love of free speech. That means you might have to wait to see your comment published.