Jeez Patrick, you've been telling us that the Canadian housing market is collapsing and the price drops will be massive but you want to sell condos in Abottsford because the losses might be smaller there? Really? What happened to the upward explosion of prices you were predicting for Surrey? Is that still on despite the global property price crash you have been warning about?
A few months ago you were telling us this:
"Buy a home, and watch equity explode upwards as Surrey continues its rapid development. Or create passive income by buying a rental property, and have the tenant pay your mortgage and provide you with abit of pocket money each month, while your equity builds behind the scenes."
But on Aug 20th you were saying this:
"Vancouver's housing market is on its last legs, but it is not to late to sell, and protect your equity until after the crash. Please share this with others!"
"Even if your house is paid off, its value is drawn from the value of the majority of houses, most of which have mortgages. In order to protect your wealth from the coming decline, it is recommended to sell, at enter back in at bargain prices in the very near future."
"It is a Federal Reserve driven global debt bubble, fueling all assets that derive their value from borrowed money! Real estate in all major economic centres, London, Manhattan, Australia, China, Vancouver. Around the world the disparity grows between rich and poor, as the wealthy elite class occupy the international housing market. Assets are so over-priced they cannot legitimately be defined as assets anymore, because their over valuation destroys any potential return on investment!"
So if the problems are global and if, as you assure us, Canada is about to mirror the "tremendous collapse in values" happening in the Netherlands, are you really suggesting that Surrey will still see prices explode upwards and Abottsford is a great buy at today's prices? If you do believe those statements it exposes a remarkable lack of understanding of market dynamics. Conversely, if you don't believe what you are saying, it exposes a very unfortunate moral issue. Which is it?
Previously on your website you told us this:
" I don’t buy into all the mainstream hype, or bubble-mania, if you will."
But now that you have clearly bought into "all the mainstream hype or bubble mania" I note that you have wisely removed that statement from your site.
I see that you have also removed your statement that other realtors will "tell you every lie in the book" and that "Most have no idea what the market is doing." It's good that you have removed those statements because they reflected very poorly on your sense of ethics.
On Aug 25th you demonstrated your acceptance of the bubble mania when you said this:
"I think we are definitely in the transitional period between a buyer's and seller's market, as seller's are still denying a bubble exists, and haven't yet shifted to the fear phase of the real estate cycle. But definitely, as history has repeated for thousands of years, when irrational human beings get scared, things go absolutely insane! I think it will only be a matter of time before fear gets introduced into the Vancouver market."
And on Aug 27th you added this:
"The Netherlands real estate market is in the midst of a tremendous collapse in values. This is primarily due to billions in mortgage lending, since the 90's, very little to no equity required down, low rates, and generous lending policies. This is almost an exact image of Canada, and particularly Vancouver. Not only do we have little down payment requirements, super low rates, and generous lending policies, but our prices are actually a whole lot higher than the Netherlands as well. The Netherlands was Berlin's last standing ally in sound budget policy, and now we see it too is collapsing. Canada too, is strongly viewed as a conservative country, with low debts, and a strong banking system. However, we can see through the propaganda, as it is clear countries with less debt and touted "strong" banking systems, are beginning to fail around the world."
"The REBGV is always putting a positive spin, and reporting only the most positive looking statistics, while it appears the public may be waking up to Canada's looming debt and residential mortgage problems."
Sept 3rd you said this:
"It has already been proven that the China GDP growth drives Vancouver real estate prices. Therefore it is recommended that if you live in one of these areas, you sell your real estate at peak prices, and then simply buy back in after the market tanks and you have an abundance of cheap inventory to select from!"
"Obviously, the safest and surest strategy being selling and renting until prices collapse considerably."
And also today, apparently we should forget all your BS about Surrey prices "exploding upwards", Abbotsford is your hot investment tip this week. How about next week, will Spuzzum be your next hot tip?
"This is perhaps the most affordable, financially viable, real estate investment in the Vancouver area. Definitely not what the average person would expect, with all the hype over million dollar condos. Typically the rule is, the more expensive the property, the less of a return you should expect. Downtown Vancouver has been completely drowned in supply of over priced condos. There is no room left to grow in the market, only to shrink. Which makes Abbotsford a much more attractive locale. Especially considering the industry and future potential job growth and population growth. Prices may come down in the short term, but the $80K price tag leaves a lot of room for potential growth, unlike certain condos selling for $800K."
So if we are to believe you, Canadian home prices are about to "massively collapse" just like the Netherlands but by some magic Surrey prices will still "explode upwards" and although you concede that prices in Abbotsford "may come down in the short term" you are urging people to buy there at today's higher prices and presumably use you as their agent. Jeesh! Really? But today you also said "Obviously, the safest and surest strategy being selling and renting until prices collapse considerably."
And yesterday you had the audacity to call politicians "confidence men, or con-men" and "psychopaths".
(Note: I think you probably meant sociopaths, and they can't be con-men OR confidence men, the terms are interchangeable)
Patrick, give it up, you keep digging yourself into a deeper and deeper hole. I suggest you consider going back to one of your old jobs as a roofer at Roofix Services or as a sauté cook for Moxie's Grill, you were probably better suited to those roles. Your new role as a self-described (but apparently unqualified) "Market Analyst/Investor" isn't gaining any traction and if your recent posting antics are any indicator, you are so far off track you may be beyond redemption.