tag:blogger.com,1999:blog-31427364.post4082489460090441520..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: CMHC Data for Vancouver - November 2008mohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-31427364.post-35608629053140567572009-01-21T01:30:00.000-08:002009-01-21T01:30:00.000-08:00The Normanby area (TS6 0) is located in the south ...The Normanby area (TS6 0) is located in the south west of the study area and has a similar property-type characteristics as the Eston Area. Prices for detached properties are some £3,500 lower than the Eston area and just under £16,000 lower than the Borough-wide average. Prices for semi detached properties in the Normanby area are over £5,000 more than the Redcar & Cleveland average although conversely the price for terraced properties is £1,000 lower than the District level.<A HREF="http://www.toronto-condominiums.ca/toronto_lofts.php" REL="nofollow">Toronto Lofts</A>Toronto Condohttps://www.blogger.com/profile/11102035568552288460noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-68835360651280743962008-12-23T15:35:00.000-08:002008-12-23T15:35:00.000-08:00Yikes is right. Great insight.I was talking to a ...Yikes is right. Great insight.<BR/><BR/>I was talking to a contractor yesterday who thought a recovery would happen in the spring, because Gordon Campbell is allowing 6-storey condos to be build as opposed to the usual 4-storey wood frame condos seen today. Go figure.Naveen Gopalhttps://www.blogger.com/profile/17060490334313983837noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-50584276497339402372008-12-20T17:47:00.000-08:002008-12-20T17:47:00.000-08:00Is this city delusional or what? The people in the...Is this city delusional or what? The people in the US doing the same thing two years ago were at least looking at an economy that still appeared to be in good shape, not the biggest global downturn since the 30's.<BR/><BR/>This city is in for a <B>major</B> reality check and it's going to get it within the next year, just in time for you know what.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-62558271413194695262008-12-20T13:14:00.000-08:002008-12-20T13:14:00.000-08:00"Which are the greater fools: those poor suckers w...<B>"Which are the greater fools: those poor suckers who pulled their properties off the market to re-list in the spring...</B><BR/><BR/>There still seems to be alot of optimism out there. Many people I have spoken with still believe that there will be a spring turnaround and have pulled their homes off the market, waiting to re-list at that time. The problem for them is that so many other people have the same idea. I would watch for a huge increase in listings this spring.casual observerhttps://www.blogger.com/profile/17802647397113775005noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-86943031354935240202008-12-20T12:08:00.000-08:002008-12-20T12:08:00.000-08:00Here's another back-of-the-envelope calculation re...Here's another back-of-the-envelope calculation regarding the ownership rate:<BR/><BR/>From Mohican's post on Dec 4, in the Vancouver CMA...<BR/><BR/>2001: 462,645/758,390 (61.00% of dwelling) were owner-occupied.<BR/>2006: 531,725/816,770 (65.10% of dwellings) were owner-occupied.<BR/><BR/>Over 5 years, the ownership rate rose at 0.82% per year. 0.82% is approximately 6,700 units per year.<BR/><BR/>What happens if the ownership rate flatlines from here? That's 6700 fewer sales per year. At current sales rates, that's 7 months worth of sales.<BR/><BR/>What if the ownership rate starts to retreat, as seems to be happening in the US?M-https://www.blogger.com/profile/11157896639592232047noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-74685901629604909382008-12-20T11:34:00.000-08:002008-12-20T11:34:00.000-08:00Which are the greater fools: those poor suckers wh...Which are the greater fools: those poor suckers who pulled their properties off the market to re-list in the spring, or the poor dummies still thinking of buying into this market?<BR/><BR/>The latter are a dying breed and maybe extinct after clueing into the gloom and doom and mounting job losses. The former will get the shock of their lives when inventory shoots up next year with all those new completions.macho slobhttps://www.blogger.com/profile/15640891497806482996noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-91018850889787378812008-12-19T13:26:00.000-08:002008-12-19T13:26:00.000-08:00yikesyikesreboothttps://www.blogger.com/profile/12256322403098823943noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-87506918217928596282008-12-19T11:53:00.000-08:002008-12-19T11:53:00.000-08:00I think those back-of-the-envelope calculations ar...I think those back-of-the-envelope calculations are about right.<BR/><BR/>We could see a 50% reduction in construction employment without some major infrastructure projects getting started in the next 18-24 months. Even with added infrastructure investments, there is the additional burden that the wind up of other major non-residential construction will have in the next 12 months - Canada Line, Convention Centre, Olympic facilities, Border Infrastructure Project, etc.<BR/><BR/>The local economy is headed for some extremely dire times in the next couple years.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-37067716132912308222008-12-19T08:45:00.000-08:002008-12-19T08:45:00.000-08:00Interesting... Looks like we're at about 28,000 un...Interesting... <BR/><BR/>Looks like we're at about 28,000 units under construction right now. <BR/><BR/>If the past holds true, and we end up with ~5,000 units under construction when it all shakes out, then that would suggest that up to 80% of the current construction employment could dry up...<BR/><BR/>Or to look at it from a less bearish position, if the number of completions is at 17,000 right now, and at the bottom it'll be at 8,000, the numbers would suggest that at least 50% of the construction jobs will dry up.<BR/><BR/>Yikes.M-https://www.blogger.com/profile/11157896639592232047noreply@blogger.com