Friday, August 27, 2010
Thursday, August 26, 2010
Tuesday, August 24, 2010
Saturday, August 21, 2010
Friday, August 20, 2010
Monday, August 16, 2010
To muddy this housing market even more, we have two pieces of news pulling things in the opposite direction.
Friday, August 13, 2010
Went for a nice trip around recreational property land. The Gulf Islands and Sunshine Coast..looking for deals. Well we are a long way from getting deals as of yet.
Thursday, August 5, 2010
Summer Heat Cools Buyers’ Market in the North Okanagan
Summer Slows Buyers’ Market in the Central Okanagan
Home Buyers Take Summer Off in the Shuswap
Some pretty graphs in there
We are down 1% or so from June 2009.
However the Fraser Valley didn't rebound as high as VREB in 2009. In fact HPI and Average look to have just matched the previous high with a steep valley in between in 2008.
We are now sitting at 9.8 MOI in the Fraser Valley.
Wednesday, August 4, 2010
Lots of stats for the numbers nerds to play around with.
HPI down 2.8% from peak. (Hey the peak is behind us)
Sales down almost 50% from 2009- we already knew that.
MOI for JULY was 7.2
Some HPI comparisons Between June 2010 and July 2010.
Detached July: $793,193 June: $795,025
Condo: July: $387,879 June: $391,528
Attached: July $490,995 June: $492,861.
The importance of timing in the housing market is demonstrated in the line below:
Residential Greater Vancouver $577,0741 year change = 9.1% 3 YEAR CHANGE =9.1% 5 Year change = 46.0%
Buying a year ago gave you as much appreciation as buying three years ago. that's what a steep drop does for you.
And several areas like West Vancouver which saw nutty pricing a few years ago are still down in price from 3 years ago (with lots of price recent price reductions to still factor in)
We are down anything from 3-6% from the peak a few months ago depending on whether you follow average or HPI.
Neither are ground breaking. However a few points here:
1) It shows that hosuing falls , DESPITE all the pundits and experts.
2) This is exactly what we want...a slow decline.We want a market which allows buyers and sellers to transact based on supply and demand.
NOT for the Government to change the rules and pull the carpet from under the buyers, as soon as they have an upper hand (after years of being in the loser camp).
That is EXACTLY what they did in 2008.
If we had a falling-off-the-cliff event in housing - you can bet that Flaherty and Campbell and their gnomes would be hard at work trying to throw our money at sellers.
SLOW AND STEADY WINS THE RACE...
The US is seriously underemployed.
Tuesday, August 3, 2010
That apparently was the way Grand old Queen Victoria used to indicate her displeasure with something.