Real Estate Talks

One family (not real permanent residents) own $16m worth of SFH! This won't help the local speculators …

"Detached home prices are descending rapidly in Vancouver"

https://www.straight.com/news/1176056/d ... -vancouver

As a follow up to the previous post, there are consequences for the Vancouver waterfront. That's why I moved away from False Creek. At King Tide, the water is already within a coupe of feet from street level. Some carparks are going to get flooded. "King tide floods part of Vancouver's seawall, offe...

"World Meteorological Association says temperatures will rise up to 5 °C by end of century if current trend continues … "We are the first generation to fully understand climate change and the last generation to be able to do something about it." That's the warning from World Meteorological Associati...

Big drop coming...


"Fraser Valley Condo Sales Drop 50%, Inventory Rises 153% in October"

https://vancitycondoguide.com/fraser-va ... n-october/

While the bulls erase their posts, here's something to chew on … "Vancouver Detached Average Sales Price Sinks 19.7% in September … Price declines are becoming more prominent. The average sales price of a detached home in Vancouver registered a 19.7% decline in September. The median sales price repo...

Looks like interest rates are rising and … "Vancouver Condo Inventory Jumps 73% as Sales Fall to Six Year Low … With sales just 3% higher than September 2008, when the global financial system was completely falling apart, the slowdown this year comes amidst relatively healthy and stable economic con...

Left and right hooks … "Province tackles dirty money in real estate with 2-point plan Horse racing, luxury cars also in the crosshairs on the heels of Peter German report into money laundering..." https://www.cbc.ca/news/canada/british-columbia/province-tackles-dirty-money-in-real-estate-with-2-poin...

"August Sees Fewest Vancouver Detached Home Sales in 27 Years


….For illustrative purposes, here’s the 3 month rolling average, which shows detached prices in Vancouver peaked in April 2016 and have since declined 18%"

http://vancitycondoguide.com/august-few ... ome-sales/

More demand for detached. Then, more supply...

"Vancouver plan to mass rezone 67,000 single-family lots for duplexes up for public hearing"

https://www.straight.com/news/1120651/v ... ic-hearing

Flash - SFH down double digit YoY

"Point Grey single-family home prices fall 12.8 percent in a year; Dunbar detached homes down 14.1 percent"

https://www.straight.com/news/1117541/p ... homes-down

FYI " 2018 Japan heat wave... On 15 July, 200 out of 927 stations in the nationwide observation network recorded maximum temperatures exceeding 35 °C (95.0 °F).[2] On 23 July, a high temperature of 41.1 °C (106.0 °F) was observed in Kumagaya, 65 km (40 mi) northwest of Tokyo. This constitutes an all...

The blow back against foreign buyers continues...

"Chinese developer offers Vancouver buyers first crack at new downtown condo tower"

https://www.straight.com/news/1108121/c ... ondo-tower

"Are Vancouver's sky-high rents finally falling? Data analyst Louie Dinh's latest report might be good news for renters ... In fact, his latest analysis of thousands of listings shows:  One-bedroom units have dropped 2.7 per cent since last month. Two-bedroom units have dropped 3.2 per cent. Three-b...

IT HAS FINALLY HAPPENED... "Greater Vancouver Condo Market Has Finally Shifted... Condo inventory has climbed higher each month following a ten year low registered in December 2017. While the recent uptick is part of a seasonal trend, the year over year increases have been far from normal. Condo inv...

Steve is working hard...  "Canada’s Real Estate Sector Faces Difficult Transition" http://vancitycondoguide.com/canada-real-estate-sector-transition/ "Vancouver Detached Sales Drop 39% In May" http://vancitycondoguide.com/vancouver-detached-sales-may/ "Canada & China to Share Tax Information Startin...