Comments on: October Stats Package

By: Turkey

Turkey — Wed, 02 Dec 2009 21:45:36 +0000

Rob, is the boilerplate at the bottom (about how good Realtors(TM) are to the economy) routine, or is it new? I don’t recall seeing it before and a quick look doesn’t show it in older stats packages. I may be getting the wrong ones.

Is this related to the battle with the competition bureau? Care to speculate?

By: FTBuyer

FTBuyer — Mon, 16 Nov 2009 23:30:18 +0000

Honestly, I think gold prices are more of a worry than RE. Seriously, what real value does gold actually have? You can’t sleep in it, it doesn’t keep you warm, you can’t eat it, etc. I’d rather “invest” in RE than gold any day, at least it’ll keep the rain off my back. I wouldn’t be at all surprised if gold prices crashed some time soon as it’s perceived safety as an investment is undermined by the fact that it doesn’t really offer much other than being rare and shiny.

By: vomitingdog

vomitingdog — Mon, 16 Nov 2009 21:37:10 +0000

Gloria,

Nice to see someone new on the blogs… as for your very valid questions… don’t ask me I have completely given up trying to understand this market.

By: Purp

Purp — Mon, 16 Nov 2009 20:18:23 +0000

HP 28 – Interesting, heartbreaking articles. Thanks for posting all these thoughtful links.

By: “I just don’t get it… why the rent is so low, or why the sale price is so high?” « Vancouver Real Estate Anecdote Archive

Mon, 16 Nov 2009 18:37:48 +0000

[...] November 2009 · Leave a Comment Gloria, at robchipman.net, on 16 Nov 2009, 9:27 am, discovers that Vancouver RE price to rent ratios make no sense. The unit that she describes has a [...]

By: Híppos Purrós

Híppos Purrós — Mon, 16 Nov 2009 17:54:18 +0000

WoW/14… it would take an essay (rather than a few anecdotals or aggregated heuristics) to properly answer your question… However – for now, at least – a short answer will have to suffice. Let me put it this way, as bad your recent ‘boots on the ground’/'drive-by’ impressions of the FraserValley were/are… things are comparatively much worse in the Interior. As for the GVRD, when the ‘cheap money’/politically expedient price supports disappear so will most of the recent demand… Certain micro-markets in the core will likely continue to buck that trend – but only in so far as exogenous demand (offshore/safe haven seeking) continues apace (not – necessarily – a given)… A recent RE piece appearing in the GeorgiaStraight was quite revealing (unintentionally, I suspect) in that regard… in so far as two of the town’s largest players tacitly suggest the YVR market is being driven by external demand.

“[Cameron] McNeill also claimed that Vancouver is the second most densely populated city in North America behind New York. He believes that our compact urban environment, coupled with a stable financial system, makes Vancouver a safe place to buy. In his eyes, this makes the city “the Swiss bank of international real estate”. ….

and….

[BobRennie]… “I don’t believe that anyone ran back to Turin or Lillehammer or Salt Lake City…to buy a secondary residence or to move the family to safety or to move some money to safety. Vancouver is on the map. We’re a world city. We’re a brand.”
http://tinyurl.com/yhou98j

Which brings us back to GlobalMacro effects… hence, to prognosticate on YVR – we really have to pay attention to what’s going on in the wider world and particularly in LosEstadosUnidos… In this regard, the following pieces are illustrative of the true ’state of the union’ – and the first one especially so… (‘Moment of Zen’ worthy – in the blackest sense)… The last piece, from Politico, is important in so far as it highlights contemporary developments/socially corrosive trends in the American polity (frequently mirrored in the GreatWhiteNorth) with severe medium-term implications (when populations lose faith in political actors/institutions/regimes – the backlash frequently takes the form of ‘politics by other means’).

[NY TIMES] Money Trickles North as Mexicans Help [U.S.] Relatives …
http://tinyurl.com/yjn83qs

[MotherJones] The New Dust Bowl…
http://tinyurl.com/yas2os3

[Politico] Parties cash in on hot issues…
http://tinyurl.com/ya9pyhd

By: Turkey

Turkey — Mon, 16 Nov 2009 17:41:45 +0000

Gloria/16,

Keep in mind that the asking rent was probably calculated from cash-flow considerations (i.e. mortgage payments) and not market-value rent. You can ask whatever rent you like, but you may not get it — so the gap between rent and sale price may be larger than it appears.

By: Gloria

Gloria — Mon, 16 Nov 2009 17:27:30 +0000

VD @16,
Luxurious “O2″ on Davie / Denman St. has several units for sale and one of them (2bdr/2bthr, 975 sq.ft) is both for sale and for rent. The sale price is 975k, and the rent is $2500 per month. I just don’t get it…. why the rent is so low, or why the sale price is so high?

By: Purp

Purp — Mon, 16 Nov 2009 16:14:51 +0000

Rob, thanks for posting the data.

I’m pretty sure I used to be able to access it here: http://www.rebgv.org/news

At any rate, it’s useful information, far better than the measly graphs they put on the website which only show 2 year trends and make it really hard to compare different areas.

By: Anonymous

Anonymous — Mon, 16 Nov 2009 05:09:54 +0000

I trust Rob more than her…but I must admit…I’d think about buying something from her…any thoughts on this top ten list?

http://www.buyingcalgary.com/blog/