Housing Bust 2011

Leveraging, renting vs owning, making an investment or buying a home?
User avatar
ghariton
Veteran Contributor
Veteran Contributor
Posts: 15954
Joined: 18 Feb 2005 18:59
Location: Ottawa

Re: Housing Bust 2011

Post by ghariton »

AltaRed wrote:Seems a bit perverse to hear BoA talk about this...but take heed none the less

http://www.calgaryherald.com/business/r ... story.html
It irritates me to see almost the entire article focus on "the" Canadian market. Our various local markets do not usually move in tandem, and each deserves its own analysis. I guess I see the benefit of a "national" discussion as a starting point. But I think it is misleading to give it so much space.

(I do recognize this was in the Calgary Herald and mentioned a few Calgary-specific numbers. But the bulk of the article was about a mythical "Canadian" home price.)

George
The juice is worth the squeeze
User avatar
patriot1
Veteran Contributor
Veteran Contributor
Posts: 4883
Joined: 28 Feb 2005 03:53

Re: Housing Bust 2011

Post by patriot1 »

ghariton wrote: Our various local markets do not usually move in tandem
Not usually, but they have moved very much in tandem over the last decade. And with markets outside Canada to an unprecedented degree.

Apply Occam's razor to that.
User avatar
ghariton
Veteran Contributor
Veteran Contributor
Posts: 15954
Joined: 18 Feb 2005 18:59
Location: Ottawa

Re: Housing Bust 2011

Post by ghariton »

patriot1 wrote:
ghariton wrote: Our various local markets do not usually move in tandem
Not usually, but they have moved very much in tandem over the last decade. And with markets outside Canada to an unprecedented degree.

Apply Occam's razor to that.
Want to bet that Vancouver is more at risk than Ottawa

George
The juice is worth the squeeze
User avatar
Insomniac
Veteran Contributor
Veteran Contributor
Posts: 2802
Joined: 29 Oct 2011 19:01
Location: Vancouver Island

Re: Housing Bust 2011

Post by Insomniac »

Real estate in Nanaimo is down this year and Victoria is up. 100 KM makes a difference.

Property assessments for BC will be published in January.
User avatar
patriot1
Veteran Contributor
Veteran Contributor
Posts: 4883
Joined: 28 Feb 2005 03:53

Re: Housing Bust 2011

Post by patriot1 »

Insomniac wrote:Real estate in Nanaimo is down this year and Victoria is up.
Teranet shows Victoria up 2.05% YTD down .22% YoY (both as of Oct 2011) and essentially flat since 2008::

http://www.housepriceindex.ca/Default.aspx

What numbers do you have and where are they from?
User avatar
Insomniac
Veteran Contributor
Veteran Contributor
Posts: 2802
Joined: 29 Oct 2011 19:01
Location: Vancouver Island

Re: Housing Bust 2011

Post by Insomniac »

Try this for a better picture of BC prices:
https://www.landcor.com/market/housing_price_index.aspx
User avatar
patriot1
Veteran Contributor
Veteran Contributor
Posts: 4883
Joined: 28 Feb 2005 03:53

Re: Housing Bust 2011

Post by patriot1 »

There is no description of their methodology. Looking at the graph, it looks like they are using average selling prices, which is a very poor way of indexing the market.
FinEcon
Veteran Contributor
Veteran Contributor
Posts: 1306
Joined: 03 Aug 2005 13:41

Re: Housing Bust 2011

Post by FinEcon »

Show me the incentive and I will show you the outcome

--Charlie Munger
User avatar
CROCKD
Veteran Contributor
Veteran Contributor
Posts: 3343
Joined: 15 Aug 2008 16:59
Location: GTA

Re: Housing Bust 2011

Post by CROCKD »

Asian investors continue to exert pressure on real estate in western economies.

Asian money pours into city apartments
" A verbal contract isn't worth the paper it is written on " Samuel Goldwyn
"The light at the end of the tunnel may be a freight train coming your way" Metallica - No Leaf Clover
Locked