tag:blogger.com,1999:blog-31427364.post8642980350751502457..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: Chilliwack at 7.9 Months of Inventory in May 2008mohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-31427364.post-89143363636728518952008-06-12T06:57:00.000-07:002008-06-12T06:57:00.000-07:00The fast-food giant is launching a new national ph...The fast-food giant is launching a new national physical-education program Tuesday aimed at third through fifth graders and includes games and activities from countries around the world.<BR/>http://tinyurl.com/477btq<BR/><BR/>Been there, done that.<BR/>Nothing the marketing monster does surprises me anymore!alexcanuckhttps://www.blogger.com/profile/08605337369229736033noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-65610844763010418382008-06-12T01:13:00.000-07:002008-06-12T01:13:00.000-07:00I would have thought someone employed by the Saude...<I>I would have thought someone employed by the Sauder School of Business would be more objective.</I><BR/><BR/>If a business school is willing to sell its own name, what makes you think that everything else isn't up for sale too?<BR/><BR/>Nobody would take the "McDonald's School of Nutritional Sciences" seriously.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-26033566298098010912008-06-11T23:20:00.000-07:002008-06-11T23:20:00.000-07:00OT, nice interview with Garth Turner here (hat tip...OT, nice interview with Garth Turner <A HREF="http://www.howestreet.com/audiovideo/index.php?pl=/fbn/index.php/mediaplayer/280" REL="nofollow">here</A> (hat tip poster Jeff on Rob C's blog)jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-89169039023288975652008-06-11T22:36:00.000-07:002008-06-11T22:36:00.000-07:00"He's paid to be an industry lobbyist. By the taxp...<I>"He's paid to be an industry lobbyist. By the taxpayers."</I><BR/><BR/>I would have thought someone employed by the Sauder School of Business would be more objective. Or at least have some financial/economic acumen. Dare to dream.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-23578261482887643722008-06-11T18:56:00.000-07:002008-06-11T18:56:00.000-07:00I might be able to forgive Cam since he's paid by ...<I>I might be able to forgive Cam since he's paid by an industry lobbyist but Tsur, what's his excuse for being so factually incorrect?</I><BR/><BR/>He's paid to be an industry lobbyist.<BR/><BR/>By the taxpayers.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-71557776921200673832008-06-11T14:48:00.000-07:002008-06-11T14:48:00.000-07:00Tsur's excuse is not wanting to start a stampede. ...Tsur's excuse is not wanting to start a stampede. He'll wait until he's covered in dust from a self-starting stampede and then say he always suspected this would happen.johnnyrenthttps://www.blogger.com/profile/02618190483376922226noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-26619529001222746852008-06-11T13:49:00.000-07:002008-06-11T13:49:00.000-07:00"I expect Tsur Sommerville to preach to us that th...<I>"I expect Tsur Sommerville to preach to us that the bust was the INEVITABLE result of excess speculation"</I><BR/><BR/>Yeah but we have him on the record. I don't think we will let him get away with it. A Tsur and Cam idiotic quote post is fast approaching.<BR/><BR/>I might be able to forgive Cam since he's paid by an industry lobbyist but Tsur, what's his excuse for being so factually incorrect?jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-28023525933771110392008-06-11T09:34:00.000-07:002008-06-11T09:34:00.000-07:00Buy low, sell high.Imagine that.pffft! that strate...<I>Buy low, sell high.<BR/><BR/>Imagine that.</I><BR/><BR/>pffft! that strategy is for old boring guys like Warren Buffett. I prefer the Vancouver RE motto: buy high, sell higher, repeat. If I lose the taxpayer can pick up the tab.Tony Danzahttps://www.blogger.com/profile/11834617529220173312noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-21826589649185420022008-06-11T07:43:00.000-07:002008-06-11T07:43:00.000-07:00American owners selling up so they can invest back...<I>American owners selling up so they can invest back in their own country.</I><BR/><BR/>Buy low, sell high.<BR/><BR/>Imagine that.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-65024661584647964542008-06-11T07:29:00.000-07:002008-06-11T07:29:00.000-07:00my old neighbour is selling her house for $549k, p...<I>my old neighbour is selling her house for $549k, price hasn't been dropped after over 3 months on market.</I><BR/><BR/>Only a matter of time. Either panic psychology will spread to her, or the passage of time will knock some sense into her. 90 days isn't enough. For some it takes up to a year to get past the denial that things have changed.freakohttps://www.blogger.com/profile/06236681769619303395noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-45107329215263742952008-06-11T07:27:00.000-07:002008-06-11T07:27:00.000-07:00Yep, this market is grinding to a halt toute de su...Yep, this market is grinding to a halt toute de suite. I wonder how many people thought they could "get out" in time. Get in line, buddy.<BR/><BR/>No false alarm this time. And it is only a matter of time before the MSM picks up on this big time. Right now we only get those reassuring "balanced market" soundbytes. Pretty soon reporters will go out on a limb and state/imply the obvious in no uncertain terms. And the funny thing, I bet that former deniers/apologists/neutrals will change their tune and pile on.<BR/><BR/>Even slippery Chipman has changed his tune. I expect Tsur Sommerville to preach to us that the bust was the INEVITABLE result of excess speculation blah blah. I expect Muir, CMHC and the builders to stick with the proven "balanced market, expected improvement around the corner" schtick that the NAR has been playing.freakohttps://www.blogger.com/profile/06236681769619303395noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-51433095163550050072008-06-11T06:56:00.000-07:002008-06-11T06:56:00.000-07:00Thanks for the Okanagan updates, guys. There's a C...Thanks for the Okanagan updates, guys. <BR/><BR/>There's a <A HREF="http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2008/06/fixed-rate-reve.html" REL="nofollow">CMT</A> post about the biggest five year bond uptick in four years. Might be a short term increase in sales as worried buyers jump in, but if this is the turn and rates go up from here then things could get ugly pretty fast.oh pleasehttps://www.blogger.com/profile/07952659888033116608noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-17607380336580425512008-06-11T05:54:00.000-07:002008-06-11T05:54:00.000-07:00Hot damn - those numbers from the OK are pretty cr...Hot damn - those numbers from the OK are pretty crazy. Rapid price decreases are on the way.<BR/><BR/>Things are changing really fast now.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-31850151462030295592008-06-10T22:03:00.000-07:002008-06-10T22:03:00.000-07:00Kelowna has more than 15 months of condo inventory...Kelowna has more than 15 months of condo inventory, and 10.6 months of townhouse inventory!<BR/><BR/>The North Okanagan has 12.3 months of condo inventory, and 7.9 months of townhouse inventory.<BR/><BR/>I expect to see YOY price declines within the next couple of months.Alpha_Bearhttps://www.blogger.com/profile/05599262809240948196noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-19510948927337676542008-06-10T21:24:00.000-07:002008-06-10T21:24:00.000-07:00"Makes me wonder if the same scenario is unfolding...<I>"Makes me wonder if the same scenario is unfolding in the Okanagan. Anyone know?"</I><BR/><BR/><A HREF="http://www.omreb.com/StatsPDF/2008/05%20-%20CO%20Statistics%20May%202008.pdf" REL="nofollow">Kelowna single family residential sales down 40% YOY, listings inventory up 77% YOY, and average prices up 12.47% YOY. 8.27 months of inventory.</A><BR/><BR/><A HREF="http://www.omreb.com/StatsPDF/2008/05%20-%20NO%20Statistics%20May%202008.pdf" REL="nofollow">North Okanagan single family residential sales down 46.4% YOY, listings inventory up 64.7% YOY, and average prices up 8.2% YOY. 8.76 months of inventory.</A>Alpha_Bearhttps://www.blogger.com/profile/05599262809240948196noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-77263156171885073112008-06-10T21:15:00.000-07:002008-06-10T21:15:00.000-07:00Okanagan stats-so far condo listings up 61% year o...Okanagan stats-so far condo listings up 61% year over year, sales down 34%. Others, townhouses, residential show similar trends. Check out their website<BR/>www.omreb.com/index2.htm<BR/>From what I hear from a local realtor, yep, it's all very slow. So far I haven't seen many price drops though, my old neighbour is selling her house for $549k, price hasn't been dropped after over 3 months on market.pricedoutfornowhttps://www.blogger.com/profile/09716669832448694904noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-8686681587998111482008-06-10T21:05:00.000-07:002008-06-10T21:05:00.000-07:00Hmm. The Vancouver Sun reports that the Okanagan r...Hmm. The Vancouver Sun <A HREF="http://www.canada.com/vancouversun/news/story.html?id=8baafbfc-db1a-45a3-860d-9c791237f1d3" REL="nofollow">reports</A> that the Okanagan recreational property market is clearly in buyer territory. That can't be a good sign for the residential market either.<BR/><BR/>Interesting comment there about American owners selling up so they can invest back in their own country.oh pleasehttps://www.blogger.com/profile/07952659888033116608noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-4885339574854541302008-06-10T19:55:00.000-07:002008-06-10T19:55:00.000-07:00"funny how Abbotsford is still doing ok, I think."...<I>"funny how Abbotsford is still doing ok, I think."</I><BR/><BR/>Sales are down 23% YOY. I don't know about inventory. The only bright spot in Abby is townhome prices but this likely is an anomaly.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-45227687399957378582008-06-10T19:48:00.000-07:002008-06-10T19:48:00.000-07:00See here for listed vs sold. MOI for West Van deta...See <A HREF="http://www.realtylink.org/statistics/buyers_market_listed_main.cfm" REL="nofollow">here</A> for listed vs sold. MOI for West Van detached is about 7.5 and probably even higher than that. Apartments are about 5.5.<BR/><BR/>octagonian, MOI is cyclical. Likely the high MOI you saw was from December/January where sales are slow. It is bad news when the highest sales months have high MOI. Sales will likely only get worse from here on in.jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-14445595597260163352008-06-10T18:46:00.000-07:002008-06-10T18:46:00.000-07:00West Van was at about 10 MOI not too long ago, as ...West Van was at about 10 MOI not too long ago, as reported here, I believe. Anybody know where MOI in West Van is at currently?John Collisonhttps://www.blogger.com/profile/06224569566655043954noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-59384480926928946852008-06-10T15:35:00.000-07:002008-06-10T15:35:00.000-07:00Well, what is surprising about Chilliwack. Canadia...Well, what is surprising about Chilliwack. Canadian's (RET) calculations are projecting the whole GV at 7.6 MOI and it is increasing at exponential rate.first_time_buyerhttps://www.blogger.com/profile/01068876088813484543noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-86656595483103731162008-06-10T15:20:00.000-07:002008-06-10T15:20:00.000-07:00funny how Abbotsford is still doing ok, I think.funny how Abbotsford is still doing ok, I think.Anonymoushttps://www.blogger.com/profile/06461603712464861858noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-12991941558537007882008-06-10T14:38:00.000-07:002008-06-10T14:38:00.000-07:00Makes me wonder if the same scenario is unfolding ...Makes me wonder if the same scenario is unfolding in the Okanagan. Anyone know?oh pleasehttps://www.blogger.com/profile/07952659888033116608noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-12805511320589001372008-06-10T13:49:00.000-07:002008-06-10T13:49:00.000-07:00It looks like June will merely add to their misery...It looks like June will merely add to their misery. Looks like their members are starting to hurt. I wonder how many are swimming naked. (shudder...)jessehttps://www.blogger.com/profile/02155122147972263497noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-79184865103756920062008-06-10T13:14:00.000-07:002008-06-10T13:14:00.000-07:00The correction is moving from the outside suburbs ...The correction is moving from the outside suburbs into the city. Anecdotal evidence from the upper valley is that home prices are dropping rapidly with YOY% declines already being seen in some neighbourhoods.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.com