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Krammer
Real Estate Talker
Topic Author
Posts: 19
Joined: Fri Nov 27, 2015 3:41 pm

Latest Stats (Aug) For all Metro Cities. 5 Pages per area

Fri Sep 09, 2016 11:06 am

 
Geyser
Real Estate Talker
Posts: 3526
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river

Re: Latest Stats (Aug) For all Metro Cities. 5 Pages per area

Fri Sep 09, 2016 12:53 pm

Krammer wrote:

The above site is using the so called "Benchmark numbers", often mocked as the industry's "Frankenumbers" because they use imaginary homes, mysterious calculations and heavy, backward-looking smoothing. They cab be of some value if you want to look at past years and see a much less volatile graph of what happened. The problem is that they lag today's events so much as to be quite misleading.

In times of sudden moves, like the last few months of tumbling SFH prices, average sale prices of real houses can be a lot more insightful. Keep in mind that when there were very few sales in August and some will claim that a drop in the number of high end homes explains the collapse in average selling prices. That objection might be fair if the price drops were limited to the expensive areas like Vancover West, but they are not. Prices have been tumbling everywhere, including the very cheapest side of town, East Vancouver.


Here is a link to one straight talking realtor who says it like it is:

http://www.yattermatters.com/2016/09/government-fiddle-burns-vancouver-real-estate/#more-40325
"In July 2016 the average price for a Vancouver detached was recorded at $1,764,682. In less than a month (post Tax proclamation), the average price gain over the year of approximately $300,000 has been wiped out. August 2016`s average price for a detached home flat lined at $1,470,265 to settle below August 2015`s average price of $1,474,475.


While that price drop is worrisome more critical is that the number of sales has tanked to 44% below August 2015. Price is one thing but when there are no sales you don’t have a market. A certainty rests in this dramatic lack of sales. Should it continue future market predictions become more tenuous than ever. More curious will be the evolution that is about to take place. What will be the result from the multiplier effect of this drop in price and sales?

The chaos created by our government fiddle playing will I suspect, continue for the next months ahead. At some point it may become clear that elements beyond the currently perceived influence of foreign buyers could have played a greater part in determining the market place."



Another realtor who isn't into using questionable numbers posted this. His whole article is really worth reading.
http://www.vancitycondoguide.com/detach ... et-august/
Detached Housing Market Takes Heavy Blow in August
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
Krammer
Real Estate Talker
Topic Author
Posts: 19
Joined: Fri Nov 27, 2015 3:41 pm

Re: Latest Stats (Aug) For all Metro Cities. 5 Pages per area

Fri Sep 09, 2016 7:41 pm

Where is getting his data.
Bla Bla  Bla  Gyerers

You have been shouting your mouth for years and you have no creditable background.  . All you have to look up your passed posts and it's the same rant with no real estate experience other than sitting on the side line ranting. When was the last time you worked in the real estate industry? My guest is probably never.
I think you are an expert?
Bye
 
Geyser
Real Estate Talker
Posts: 3526
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river

Re: Latest Stats (Aug) For all Metro Cities. 5 Pages per area

Sat Sep 10, 2016 3:28 pm

Kramer wrote:

"Where is getting his data.
Bla Bla  Bla  Gyerers

You have been shouting your mouth for years and you have no creditable background.  . All you have to look up your passed posts and it's the same rant with no real estate experience other than sitting on the side line ranting. When was the last time you worked in the real estate industry? My guest is probably never.
I think you are an expert?
Bye"



0h dear, you seem to be really rattled Barry, are you worrying about the next lease payment on your car if the market keeps tumbling?

In answer to your first question, the average price data came from our local REBGV. Go and argue about it with them.

Obviously you've only looked at those of my past posts after I gradually shifted from the increasingly tenuous bull arguments to the increasingly logical bear camp. As the situation changes so does my expectation of what the future holds, but I remember you don't subscribe to that logic. I recall you saying "It's always a good time to buy". And you have the audacity to question my real estate experience? That's funny.

You are correct that I have never worked as a realtor but, like many on this forum, I have had more than my share of property transactions. Some were very profitable and some lost money. I do not consider myself an expert, just another old guy whose been involved in the market for almost 50 years and has seen how many market cycles and the occasional bubbles play out. I'm only an occasional market player but I'm a long time market watcher.

That's why I like to post the views of real experts like Larry Yatkowsky, he's active on a day to day basis, he rarely puts too much positive spin on things and he says what he thinks rather than spouting the sort of misleading information some others prefer.

For you and others who like to paint me as a perma-bear, here are some old posts where you will see I was used to being accused of being a perma-bull.

                 -------------------------------------------------------------------------------------------------------------------------------------------
4years ago
Taipan (AKA Snakey) wrote:
You are zhit scared of the market falling. Got to convince people to keep buying.

4 years ago
I replied:
You keep trying to characterize me as a rampant bull despite all the evidence to the contrary. Here we go again, see if you can get it this time.

I know markets work in cycles, I've been through a number of them and some were biggies, both up and down. I've repeatedly stated that the longer and bigger the up cycle the bigger the chance of a big negative correction.
                 -------------------------------------------------------------------------------------------------------------------------------------------

So you see Barry, contrary to your self-serving fits of contrived outrage, my posts are not all the same, Because I like to keep an open mind I've moved from strongly bullish to strongly bearish as the market conditions changed.  Unfortunately, that's a lot more than I can say for you.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
tdma800
Real Estate Talker
Posts: 2086
Joined: Wed Jan 23, 2008 9:12 am

Re: Latest Stats (Aug) For all Metro Cities. 5 Pages per area

Sat Sep 10, 2016 5:04 pm

Krammer wrote:
Where is getting his data.
Bla Bla  Bla  Gyerers

You have been shouting your mouth for years and you have no creditable background.  . All you have to look up your passed posts and it's the same rant with no real estate experience other than sitting on the side line ranting. When was the last time you worked in the real estate industry? My guest is probably never.
I think you are an expert?
Bye

Well, the more colloquial version is to want what others have and you dont have and bring them down to your level
 
reallyreal2
Real Estate Talker
Posts: 487
Joined: Fri Jun 03, 2016 11:30 am

Re: Latest Stats (Aug) For all Metro Cities. 5 Pages per area

Mon Sep 12, 2016 7:56 pm

Krammer wrote:
Where is getting his data.
Bla Bla  Bla  Gyerers

You have been shouting your mouth for years and you have no creditable background.  . All you have to look up your passed posts and it's the same rant with no real estate experience other than sitting on the side line ranting. When was the last time you worked in the real estate industry? My guest is probably never.
I think you are an expert?
Bye


LOL - who bunched up your panties.

Commission cheque a little light these days? LOL

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