I have decided that the truth needs to be told regarding the Fraser Valley Real Estate Market. Its overpriced, overbought, low quality, and generally insane. I don't understand why people pay $500,000 for a house that would have sold for $300,000 three years ago. Why do they enslave themselves with a mortgage that is burdensome and unsustainable? Why do they pay so much so a developer can get rich?
I'll be using the offiicial stats from the Fraser Valley Real Estate Board and drawing on other examples of overprices assets, including other real estate markets and the stock market. Find the data here at the FVREB's website: www.fvreb.bc.ca
I'll be commenting on other financial topics as time goes on but right now I need to get this off my chest.
I'll be using the offiicial stats from the Fraser Valley Real Estate Board and drawing on other examples of overprices assets, including other real estate markets and the stock market. Find the data here at the FVREB's website: www.fvreb.bc.ca
I'll be commenting on other financial topics as time goes on but right now I need to get this off my chest.
To start, I have found that there is an inverse correlation between the supply of housing stock and the percentage by which prices move. Here is a chart tracking the inverse correlation of months of inventory and percentage price changes for the Fraser Valley from July 2006 to December 2006. I have added a trendline for illustrative purposes.
If you have saved any other months of the data releases please send them to me and I will update the graph.
Cheers.
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