3347 replies to this topic

[Victoria Watcher]

yes there seems to be no advice.

 

and lots of "this may not be sustainable".  the percentage increases?  or the current high prices?

[DavidL]

I’d like to see what effect even a single one of these quarterly reports has actually had on the market in 20 years, other than giving newspapers quick story content.

So we’re moderately vulnerable, they say, whether we’re overheating or not overheating. As a purchaser, what does that even mean? Do I not buy a house today, and wait six months? Argue over the asking price and risk losing it to someone else? Buy less house? More house? Decide to rent for another year? Put down a larger down payment? A smaller down payment? Ask the Citified guy for advice?

 

 

It's a pick your narrative adventure.  8 months ago housing was going to drop 18% by the end of the year, according to CMHC, so anyone heeding that "advice" waiting to buy has earned the opportunity to spend significantly more in most markets for most products, albeit at a lower interest rate.  The people who write reports exist to write reports, on a quarterly basis, using a limited lexicon so as to provide continuity over products over time.  Accuracy over time matters not, forecasts matter not, only that the quarterly report is issued quarterly.  Same reason why we're told what the price of oil is 12 times a day.  I wouldn't ask that citified guy though.....

Edited by DavidL, 18 December 2020 - 08:55 AM.

[Citified.ca]

Sooke, West Shore lead rise in 2021 real-estate value assessments as Victoria's core yields tempered uplift

https://victoria.cit...empered-uplift/

[Citified.ca]

$6.53 billion in transactions propelled Victoria’s real-estate market to record highs in 2020

https://victoria.cit...-highs-in-2020/

[Matt R.]

Nice looking reno on this one, but 1.5m for a house in Vic west?

https://www.realtor....9H-4Fx0lz_0jWzg

Matt.

[Mike K.]

Or $11M for penthouse condo. Take your pick!

[sebberry]

Nice looking reno on this one, but 1.5m for a house in Vic west?

https://www.realtor....9H-4Fx0lz_0jWzg

Matt.

 

What, no garage?

[LJ]

Never a good idea to be the most expensive house in the neighbourhood.