To be blunt, I'm bored with following the real estate market.
It moves terribly slow and the human emotions involved are heated, to say the least, and can be largely irrational. This is frustrating so I've been taking a break.
During this break, I haven't been missing anything so I've concluded that it isn't worth very much effort or time for me to involve myself too much in this blog anymore. It was interesting and I still certainly hold my conclusion that real estate in the Vancouver area is grossly overpriced considering the rental yield.
Additionally, I have been enjoying being a dad to my two little boys and my work has been exceptionally busy so I just don't find I have the time to devote to doing a good job on the analysis part of the blog. There are others who have picked up the mantle of providing monthly charts and statistics so I feel my work in that respect is largely irrelavent.
Anyway, I'm not shutting the blog down. I'll be around and I still plan on posting interesting articles or videos that I stumble across. I just thought it was fair to post how I've been feeling lately.
10 comments:
You're not the only one bored by this market. It's terribly frustrating for agents.
This is as close as we can possibly get to a "balanced" market. Unfortunately with the few buyers out there that also means few sellers. Listings are really low, not coming on stream at any pace, and making it tough to find many buyers who are interested any properties that match their criteria.
It's pretty dry out there. No doubt.
My fear: It's going to be this way for the next 4 months until the Spring market.
Yes, this does surprise me.
I do and will continue to miss your excellent graphs. But I know what you mean, a trendless market isn't worth analyzing.
I don't blame you at all! We seem to be in rather a holding pattern at the moment.
Will comes close to an interesting point: With the number of realtors hungry for a commission there may well be pressure on sellers from realtors to drop price enough to make a sale happen. In a strong market not so much, but even if the seller isn't desperate to make a sale the agent may be. BMW still wants the lease payment, after all.
ZZZZZZZzzzzzzzzZZZZZZZZzzzzzzzz
Yeah!
It's kinda boring waiting for the crash. Shug!!!
It's too bad you're going. If you could point out some of those other blogs posting the data I would appreciate it.
Will, I think we are in for a flat balanced market for a lot longer than 4 months. I think we are looking at more like 4 years, or more. I think sales volumes will be lower than 'normal' for a long time. However, in 4 years, I think prices will be where they are now more or less.
Welcome to the doldrums.
In other year, I think bears will start coming to that realization and many bearish real estate blogs will fizzle out.
Mohican, you've been doing the community a service for years. Good on you. No shame in slowing down. The market's in stasis and the drama isn't there. Take care and all the best to you and your family.
However, in 4 years, I think prices will be where they are now more or less.
You think a market with price/rent ~400 and price/income ~10 can flattop for 4 years?
Has any Canadian or US RE market come anywhere close to this?
Latest data from Agent Will's site. MOI down to 4x.
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