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rofina
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Overheating - Semven!?

Sun Mar 20, 2016 11:59 am

Interesting anecdote to share.

Ran into a acquaintance that reminds me of Semven - he has been in the land assembly business out in Surrey/Delta for the past decade or so. Built homes, and townhomes.

Naturally, we spoke about the ridiculous state of the market, him being an ardent bull over the past decade. I was curious where his next deal is, what areas he's looking into, etc - threw me off balance - he says he's sitting out.

Says prices are going up too fast, sucking in "amateur" buyers. Thinks market is running too far ahead of itself.

Curious what anyone else with their ear to the ground is hearing? I know on the surface its hot as ever, any other stories of even bulls getting cold feet?
 
tdma800
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Re: Overheating - Semven!?

Sun Mar 20, 2016 2:33 pm

Ridiculous is in the eye of the beholder. Its just in vogue to think that cheap housing is everything
 
Writeoff
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Re: Overheating - Semven!?

Tue Mar 22, 2016 9:52 pm

I was curious where his next deal is, what areas he's looking into, etc - threw me off balance - he says he's sitting out.
Had he told you where his next deal is, you won't be wasting your time posting here. Unless you are the one who just talk the talk. The fools are selling and greater fools are buying. The Vancouver market roars ahead. It's business as usual.
 
HomelessinSD
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Re: Overheating - Semven!?

Wed Mar 23, 2016 9:12 am

Sounds to me like a astute developer / investor. Not simply doing what everyone else is, but viewing the market conditions from an objective standpoint. Could very well be a mistake, but mistakes made by not moving forward with risky deals are typically a lot less costly than mistakes made when taking those risky deals.
 
Geyser
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Re: Overheating - Semven!?

Wed Mar 23, 2016 11:21 am

Sounds to me like a astute developer / investor. Not simply doing what everyone else is, but viewing the market conditions from an objective standpoint. Could very well be a mistake, but mistakes made by not moving forward with risky deals are typically a lot less costly than mistakes made when taking those risky deals.

+1

At some point the music will stop. At that point it's better to already be sitting down.
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
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Re: Overheating - Semven!?

Wed Mar 23, 2016 1:15 pm

a more recent thing is people wanting what others have that they cant have
 
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Dragonslayer
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Re: Overheating - Semven!?

Wed Mar 23, 2016 5:52 pm

Semven ssys he wonders how much Mortgage Fraud is running undetected due to the current liquidity of RE....
 
rofina
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Re: Overheating - Semven!?

Thu Mar 24, 2016 7:14 pm

I was curious where his next deal is, what areas he's looking into, etc - threw me off balance - he says he's sitting out.
Had he told you where his next deal is, you won't be wasting your time posting here. Unless you are the one who just talk the talk. The fools are selling and greater fools are buying. The Vancouver market roars ahead. It's business as usual.
Yah, definitely, I would be out spending a few million on a assembly that an acquaintance I talk to 3 times a year told me to go out and buy. :roll:

I thought it an interesting anecdote, a market thats so hot that its turning bulls, bearish.
 
oli
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Re: Overheating - Semven!?

Fri Mar 25, 2016 10:17 pm

The fools are selling and greater fools are buying.
So the smart ones are sitting still? :oops:
 
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jesse1
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Re: Overheating - Semven!?

Sat Mar 26, 2016 6:16 am

Who was the Hong Kong billionaire who in 2013 thought Vancouver was overpriced. I've heard enough developer-bear anecdotes over the past 8 years I have lost count. Maybe this guy will be the one who lucks out and will be seen as prescient, or will he get shoveled onto the pile of poorly timed guesses.
There is no shame in overpaying
 
tdma800
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Re: Overheating - Semven!?

Sun Mar 27, 2016 1:27 pm

overheating is what happens when you give someone a dutch oven - not the Vancouver market. its so easy to bring the market down-- allow builders to build as much as they want as long as it meets the building codes
 
jimtan
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Re: Overheating - Semven!?

Sun Mar 27, 2016 10:18 pm

Here's something to think about.

"More Hedge Funds Shuttered Than Opened During 2015 Turmoil "

http://www.bloomberg.com/news/articles/ ... l-ilwb20bg

All we need is a trigger as happened in 2009. Could it be a Trump presidency?
 
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jesse1
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Re: Overheating - Semven!?

Mon Mar 28, 2016 7:20 am

overheating is what happens when you give someone a dutch oven - not the Vancouver market. its so easy to bring the market down-- allow builders to build as much as they want as long as it meets the building codes
Isn't that what's happening now? Last I checked units under construction were at all-time highs
There is no shame in overpaying
 
jimtan
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Re: Overheating - Semven!?

Mon Mar 28, 2016 2:16 pm

Everything ends. This is the current mood of America.

"The 89% Pay Cut That Brought Trump-Mania to America's Heartland"

http://www.bloomberg.com/news/features/ ... -heartland

Clinton could lose!!!!!
 
reallyreal2
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Re: Overheating - Semven!?

Thu Jun 09, 2016 4:20 pm

Semven ssys he wonders how much Mortgage Fraud is running undetected due to the current liquidity of RE....
Probably zero.

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