5915 replies to this topic

[rmpeers]

Both of them did. All other councillors and the mayor did not (although I can't recall if Alto did or not).

Everyone except Young and CJT refused to swear allegiance to the Queen?

[Mike K.]

I believe so, yes. Their swearing in did not reference the Queen while Young's and T-J's did.

[lanforod]

The recent news about how much we're still spending for Adrienne Clarkson doesn't lend any support to swearing allegiance to the Queen...

[Laszlow]

Re listening to people. 

I love Henry Ford's quote. “If I had asked people what they wanted, they would have said faster horses.”

Yeah I know he never said it ... but what it means to me:

 

"If people tell you how to run your business, you go out of business."

Have met Lisa she is a fine studious and organized administrator. But not a leader. Not a lot of strategic thinking and leadership there. And the other folks on the slate were ... well, meh.

[nerka]

They are the people wishing for a massive market crash, wishing for those who have things they do not to lose them,

You have just written a perfect description of 2-3 regular posters on HHV!

[Mike K.]

Any day now that bubble will burst. Any day now.

[Midnightly]

Any day now that bubble will burst. Any day now.

 

people have been saying that for 10+ years..

[Mike K.]

Yup. A lot of people bought into the fearmongering instead of a home and have regretted it since. That’s bred resentment and anger towards those that do own a home.

[lanforod]

Absolutely. I'm over 5 years from buying a house here. Even a bubble pop is unlikely to bring the current value below what it was when I bought.

[RFS]

Any day now that bubble will burst. Any day now.

Ask any realtor and they will tell you the market has turned. A unit has been listed in my building recently for 20% less than a comparable one sold for in July

[Mike K.]

This is also a time we’ll start hearing of oddball situations pumped up to be market-wide evidence of doom and gloom.

A comparable unit to one that sold for $365,000 isn’t all that comparable if a couple of months later it’s listed for $300,000 (20% less). Either the realtor is hoping for a bidding war, the seller is desperate to sell or something isn’t quite right.

[spanky123]

This is also a time we’ll start hearing of oddball situations pumped up to be market-wide evidence of doom and gloom.

A comparable unit to one that sold for $365,000 isn’t all that comparable if a couple of months later it’s listed for $300,000 (20% less). Either the realtor is hoping for a bidding war, the seller is desperate to sell or something isn’t quite right.

 

A year ago we were hearing examples of the opposite as well with Chinese buyers offering 2x-3x market value on the spot. You really need to follow the averages to point to a trend. The real estate board in Vancouver reported today that average prices are less than 3% of their peak so things are not changing much despite a huge drop off in sales and the foreign buyers tax..

Edited by spanky123, 02 November 2018 - 10:17 AM.

[North Shore]

A year ago we were hearing examples of the opposite as well with Chinese buyers offering 2x-3x market value on the spot. You really need to follow the averages to point to a trend. The real estate board in Vancouver reported today that average prices are less than 3% of their peak so things are not changing much despite a huge drop off in sales and the foreign buyers tax..

 

Perhaps it's just me, but if there's one group that stands to benefit from the party continuing, it's the REB; consequently, I'd take all of their statements with a shovel full of salt...

Edited by North Shore, 02 November 2018 - 12:58 PM.

[spanky123]

Perhaps it's just me, but if there's one group that stands to benefit from the party continuing, it's the REB; consequently, I'd take all of their statements with a shovel full of salt...

 

Much of the data is public now so it would be hard for them to fudge things.

[pennymurphy2000]

Any day now that bubble will burst. Any day now.

Last year they had a guest on CFAX who did some research back to the early 1900s and I believe he said that value of real estate in Victoria basically doubles every 10 years on average. I don't think the bubble is ever going to burst. If we survived the downturn of 2008 relatively unscathed, I think the prices are just going to keep going up. It seems like everyone wants to retire here!

[Mike K.]

Oh yeah, for sure. I think we need to introduce the sarcasm font after all.

[29er Radio]

Last year they had a guest on CFAX who did some research back to the early 1900s and I believe he said that value of real estate in Victoria basically doubles every 10 years on average. I don't think the bubble is ever going to burst. If we survived the downturn of 2008 relatively unscathed, I think the prices are just going to keep going up. It seems like everyone wants to retire here!

if history can repeat itself then just ask people out there what it was like to borrow money in the early 80's when rates were in the high teens.There is very little evidence to suggest we could get back there, but if we got close to 7.5% this town would flat line for a few years for sure. 

[nerka]

Ask any realtor and they will tell you the market has turned.

From crazy back to normal so far. We are still a good way away from a true buyers market.

[Mike K.]

Rates are rising in order for the fed to have some wriggle room to lower them when the market turns in 2020. We’re due for a correction and it’ll require some downward rate adjustments come a year or two from now.

[David Bratzer]

From crazy back to normal so far. We are still a good way away from a true buyers market.

 

Yeah... if you want to see a true buyer's market, look at a place like Saskatoon. A lot of houses there are basically impossible to sell.