tag:blogger.com,1999:blog-31427364.post7587476823593310528..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: Calamity on the Creekmohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-31427364.post-4626072391562197062009-05-09T03:26:00.000-07:002009-05-09T03:26:00.000-07:00As per the recent transits, Jupiter is in 9th hous...As per the recent transits, Jupiter is in 9th house (Dhanus) and aspecting 5th house (Simha) where Saturn is. Being in Bhagya sthanam it should do good for me. However, since Saturn is in the purvapunya sthana and is aspecting my 2nd and 12th houses...<br /><A HREF="http://bankfiesta.com" REL="nofollow">banking deal community</A>banking deal communityhttps://www.blogger.com/profile/08852077837988944718noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-7776206871150731212009-01-19T01:34:00.000-08:002009-01-19T01:34:00.000-08:00Condo hotels can be the perfect second home. Rath...Condo hotels can be the perfect second home. Rather than be tucked away from all of the fun at some home or condo that’s far removed from all the action, a condo hotel allows you to own at a top resort destination that comes complete with fine dining, spas, nightlife, shopping, and swimming pools. Additionally, you can usually get tremendous pre-arrival arrangements and special onsite “owner’s perks,” as well.When owners aren’t staying at the resort, they can put their unit back into the hotel’s rental program. Most owners find this to be a much more desirable option than owning a second property that sits empty year round. Additionally, most condo hotel owners like the idea of having a world-class management company renting out and managing their property as opposed to doing it themselves or having a local “mom and pop” company handle the rentals. see more in <A HREF="http://www.toronto-condominiums.ca" REL="nofollow">Condominiums Toronto</A>Toronto Condohttps://www.blogger.com/profile/11102035568552288460noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-52143634864069174882009-01-14T08:48:00.000-08:002009-01-14T08:48:00.000-08:00Hi CH. Not patriotism. Religion. They see the Card...Hi CH. Not patriotism. Religion. They see the Cardassian's five lights. Those of us who see the actual four lights are heretics.<BR/><BR/>I saw that Pastrick thing too.<BR/><BR/>Again, I don't think most of these people are malicious. I think they are simply brainwashed by the opium of Van's masses: Real estate.Van Housing Bloggerhttps://www.blogger.com/profile/08547691078400829048noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-8873656980240560872009-01-14T00:03:00.000-08:002009-01-14T00:03:00.000-08:00VHB, I'm with you. It's disconcerting to see so m...VHB, I'm with you. It's disconcerting to see so many "elite" opinions informed by emotion and wishful thinking. Is real estate boosterism a form of patriotism in Vancouver? Whatever it is, the irrational exuberance is alive and well. <BR/><BR/>Tonight on Global, I watched Helmut Pastrick say he expects prices to rebound in 2010 or 2011 and that Millennium Water is a property that will "outperform" the market. I've recorded his comment for use on my annual top ten quotes list.<BR/><BR/>BTW, Frances Bula talked about Olympic Village loss estimates on the Bill Good Show yesterday. She mentioned your $500-million figure as one of the projections.condohypehttps://www.blogger.com/profile/04629381605914770446noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-27267221942092600762009-01-13T23:40:00.000-08:002009-01-13T23:40:00.000-08:00Re: VHB's Updates...Mr. Geller was on CBC yesterda...Re: VHB's Updates...Mr. Geller was on CBC yesterday afternoon saying pretty much the same thing as Ms. Anton...Although over at FABula's he's been hedging his bets kinda/sorta. For example in a discussion that involved condohype (and I think VHB) he staked out a supposed middle ground of $750/sq ft in a year or two.<BR/><BR/>____<BR/>I have a no RE expertise question to ask of you all....Given that Spec-U-Vesting is set to be a big part of the financing for the big roof on BC Place Stadium, is something like that enough incentive for Mr. Campbell (not Larry) to get him to swoop in and 'save' MWater in an effort to slow the slide enough to get those latter projects up and going?<BR/><BR/>Thanks.<BR/><BR/>.RossKhttps://www.blogger.com/profile/07677239332112652522noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-34528164018821658292009-01-13T19:40:00.000-08:002009-01-13T19:40:00.000-08:00How did Phillip Owen make money before he 'served'...How did Phillip Owen make money before he 'served' publicly? Was it in real-estate/construction/etc.?ReductiMathttps://www.blogger.com/profile/08380672072877671175noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-27966016189600021932009-01-13T08:20:00.000-08:002009-01-13T08:20:00.000-08:00A few updates:1) Ex-Mayor Phillip Owen was quoted ...A few updates:<BR/><BR/>1) Ex-Mayor Phillip Owen was quoted in the press yesterday saying that the market would be back to peak levels in three years.<BR/><BR/>2) I heard City Councillor Susan Anton on CBC this morning saying that the city can just rent out the units for a couple of years until the market 'comes back.'<BR/><BR/>De-lusional. De-nial. De-pressing.<BR/><BR/>3) On the same CBC panel, I heard Alan Garr say that if Millennium goes belly up and the city takes over the development, the presale 'buyers' of the 1/3 of units currently 'sold' will have the option of canceling due to the change in the terms of the contract.<BR/><BR/>We've always wondered whether these guys are (a) honestly deluded about the state of the market or (b) know what's going on and are trying to pull one over on everbody.<BR/><BR/>I honestly think it is (a). These people have been drinking at the fountain of Rennie for so long that they can't mentally process what is so obvious to our eyes.<BR/><BR/>It makes me think of the TNG star trek <A HREF="http://memory-alpha.org/en/wiki/Chain_of_Command%2C_Part_II_(episode)" REL="nofollow">episode</A> where Picard is being tortured by the Cardassian and asked how many lights he sees. Although there are only four lights, by the end of the experience he actually sees five lights as suggested by the interrogator. (Although he refuses to give his torturer the pleasure of knowing this.)<BR/><BR/>Bob the Cardassian has almost the entire city under his spell. It is simply shocking what some people are able to will themselves to see.<BR/><BR/>I therefore say unto you Bob: <A HREF="http://www.youtube.com/watch?v=nH9QejHSMu0" REL="nofollow">THERE ARE FOUR LIGHTS!</A>.Van Housing Bloggerhttps://www.blogger.com/profile/08547691078400829048noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-18467920731847863112009-01-13T01:10:00.000-08:002009-01-13T01:10:00.000-08:00Absolutely right. We have been in a secular bull m...Absolutely right. We have been in a secular bull market for housing since WWII due to the convergence of economic, demographic, and government policy factors. All of which are reversing, or in the case of government policy must be reversed to get investment back into productive assets.<BR/><BR/>The party is over. Once the current bust has settled down, I cannot see real prices exceeding 2001 levels for the foreseeable future, and I would not rule out declines to mid-1980's levels.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-77658288713032943382009-01-12T23:17:00.000-08:002009-01-12T23:17:00.000-08:00There were a few more layers than that. I thought...There were a few more layers than that. I thought mention that the love affair with housing is much longer than just the last few years. In fact it is systematically and psychologically encouraged perhaps to the long term detriment of the economy.<BR/><BR/>Interesting things I pulled from the article:<BR/><BR/>1) It not only a poor individual investment choice to pay too much for housing but possibly bad for the economy in general.<BR/>2) The predilection for housing is a relatively recent thing (50 years) and due to a variety of historical and political reasons.AndrewJhttps://www.blogger.com/profile/04813082701244060724noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-20081719211902679902009-01-12T19:53:00.000-08:002009-01-12T19:53:00.000-08:00Americans may have overinvested in housing."May"?M...<I>Americans may have overinvested in housing.</I><BR/><BR/>"May"?<BR/><BR/>MAY?patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-2255160734410864582009-01-12T16:44:00.000-08:002009-01-12T16:44:00.000-08:00To paraphrase Upton Sinclair, it is difficult to g...To paraphrase Upton Sinclair, it is difficult to get a city to understand something, when the city's finances depends upon not understanding it! Hubris carries a heavy price.Two-armedhttps://www.blogger.com/profile/01742271389963807202noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-7438159586948362922009-01-12T12:41:00.000-08:002009-01-12T12:41:00.000-08:00Found this interesting article relevant to fundame...Found this interesting article relevant to fundamental value discussion here. The article is about us housing bias.<BR/><BR/>http://tinyurl.com/9jcfmr<BR/><BR/>Quote:<BR/>"Simply put,<BR/>Americans may have overinvested in housing.<BR/>This has been a worry of conomists for a while. It’s a concern based on what they see when they compare the rates of return — profit per dollar invested — for a variety of<BR/>capital types. Most studies look at two broad categories: housing capital and nonhousing fixed capital. The latter consists of investments in manufacturing plants, machinery, and other sorts of investments that produce goods.<BR/>Economic theory suggests that the rates of return for each form of capital should equalize over time."<BR/><BR/>I've also been enjoying the source site ttp://www.realclearmarkets.com. It's a news aggregator with articles about economic crisis and how to fix it.AndrewJhttps://www.blogger.com/profile/04813082701244060724noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-87134961784092038272009-01-12T12:23:00.000-08:002009-01-12T12:23:00.000-08:00"Additionally, the best financial move for the cit...<I>"Additionally, the best financial move for the city would be to carry the project for as short a time as possible."</I><BR/><BR/>Unfortunately this suggestion carries with it the most optics. <BR/><BR/>Something to keep in mind is that there is still speculation on the city's collective brain even while the bubble is deflating. Only when prices are back to fundamentals justified by cash flows will speculation be down for the standing 8 count. Whether the City realises this is up for question; if they don't -- and it looks like this is the case -- they'll be following the market right down to the mat. You can be pretty sure a committee will choose the slow death.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-46645593717345532582009-01-12T11:32:00.000-08:002009-01-12T11:32:00.000-08:00Additionally, the best financial move for the city...Additionally, the best financial move for the city would be to carry the project for as short a time as possible. They should cut their losses as quickly as possible. This will reduce their financing costs and get them out of the development business, which they had no business getting into in the first place.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-62023897080122035802009-01-12T11:22:00.000-08:002009-01-12T11:22:00.000-08:00Yes, I think 2004 nominal or 2003 inflation adjust...Yes, I think 2004 nominal or 2003 inflation adjusted prices are a lock. The potential for an overshoot to the downside is substantial as well.<BR/><BR/>Generally, from what I observe, people are holding out hope for a miracle but none will be forthcoming.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-29420118863912527242009-01-12T11:12:00.000-08:002009-01-12T11:12:00.000-08:00Yup, it's amazing and scary how the thirty somethi...Yup, it's amazing and scary how the thirty something crowd who's entire adulthood is limited to a decade of prosperity has lost all sense of value. But things are changing fast, as the magnitude of a million bucks for a shack is beginning to sink in, especially when compaable homes in sunny parts of the US are selling for a third of the price and are still dropping.<BR/><BR/>Our plunge still has a long way to go.macho slobhttps://www.blogger.com/profile/15640891497806482996noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-5478821288127683912009-01-12T10:27:00.000-08:002009-01-12T10:27:00.000-08:00Agreed, this kind of thinking is rampant everywher...Agreed, this kind of thinking is rampant everywhere, and it's the real problem - rather than "negative press" as the "experts" seem to think. <BR/><BR/>In two generations it's shifted from being normal to comfortably afford a house for your family in your twenties with one income, to being able to barely afford a house in your mid-thirties with two incomes. Where's the breaking point?Unknownhttps://www.blogger.com/profile/04552666254356506181noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-15591820213280333282009-01-12T10:14:00.000-08:002009-01-12T10:14:00.000-08:00It is truly amazing, and scary, at how recent cond...It is truly amazing, and scary, at how recent conditions are considered justified (i.e. the "hype") by most everyone. Prices have so far to fall -- it is so simple a concept it evidently boggles the mind.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.com