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reallyreal2
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Re: Monthly stats for May

Wed Jun 08, 2016 10:04 am

Of course people will buy.... the prices go down because more people are wanting to sell.
 
eyesthebye2
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Re: Monthly stats for May

Wed Jun 08, 2016 10:07 am

in 2009, when our market corrected, sellers were desperate to unload - thinking the prices were going much lower.
Within 10 months of the market bottom the prices were back to previous highs.
The total correction was 15%.
There were posters calling the recovery a "dead cat bounce", "catch a falling knife" etc.
The market has never looked back.
Buyers and market watchers will remember what happened a few short years ago - they won't be waiting for a large discount.
I bet buyers step in with as little as a 5% reduction - not wanting to be shut out this time.

My comments are for detached only. I have no interest in condo or townhouse. Land dictates Vancouver demand.
 
Geyser
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Re: Monthly stats for May

Wed Jun 08, 2016 2:13 pm

in 2009, when our market corrected, sellers were desperate to unload - thinking the prices were going much lower.
Within 10 months of the market bottom the prices were back to previous highs.
The total correction was 15%.
There were posters calling the recovery a "dead cat bounce", "catch a falling knife" etc.
The market has never looked back.
Buyers and market watchers will remember what happened a few short years ago - they won't be waiting for a large discount.
I bet buyers step in with as little as a 5% reduction - not wanting to be shut out this time.

My comments are for detached only. I have no interest in condo or townhouse. Land dictates Vancouver demand.
Ah yes, "but it's different here".

But we've seen Vancouver's detached house prices dramatically collapse before. Ah yes, "but it's differ this time".


Remember what happened in Tokyo, a real world class city:
http://thejoyfulinvestor.blogspot.ca/20 ... using.html

In the space of six years, house prices almost tripled. Then came the housing crash, which coincided with the crash in the Japanese stock market. Today, house prices are 67% below what they were at their peak, in 1990.

However, according to the Japanese land registry, the fall in house prices is levelling out. Condominium prices (in olive green) have staged a steady recovery since early 2009, while the price of detached houses continues to fall.

The Japanese housing market has some special characteristics:

Ø Between 1990 and 2010, the number of households has increased by 27%. Family units have become smaller and the population has continued to grow.

Ø The decline in the size of families means that apartments are increasingly in demand, at the expense of family houses.
What's that they say? Despite strong population growth, "apartments are increasingly in demand, at the expense of family houses."

Say it ain't so! How can that happen???

Of course we don't need to worry because it's different here, and even if it isn't, it's different this time. :lol:
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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Posts: 2977
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Re: Monthly stats for May

Wed Jun 08, 2016 2:23 pm

in 2009, when our market corrected, sellers were desperate to unload - thinking the prices were going much lower.
Within 10 months of the market bottom the prices were back to previous highs.
The total correction was 15%.
There were posters calling the recovery a "dead cat bounce", "catch a falling knife" etc.
The market has never looked back.
Buyers and market watchers will remember what happened a few short years ago - they won't be waiting for a large discount.
I bet buyers step in with as little as a 5% reduction - not wanting to be shut out this time.

My comments are for detached only. I have no interest in condo or townhouse. Land dictates Vancouver demand.
Well of course, and its pretty blatant that houses, townhomes, and so on are having higher demand so much its not even funny. Its just that not enough are there. And the main part is, even the naysayers agree things are not the same as before and there is no worry. A solemn +1
 
reallyreal2
Real Estate Talker
Posts: 732
Joined: Fri Jun 03, 2016 11:30 am
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Re: Monthly stats for May

Thu Jun 09, 2016 4:12 pm

in 2009, when our market corrected, sellers were desperate to unload - thinking the prices were going much lower.
Within 10 months of the market bottom the prices were back to previous highs.
The total correction was 15%.
There were posters calling the recovery a "dead cat bounce", "catch a falling knife" etc.
The market has never looked back.
Buyers and market watchers will remember what happened a few short years ago - they won't be waiting for a large discount.
I bet buyers step in with as little as a 5% reduction - not wanting to be shut out this time.

My comments are for detached only. I have no interest in condo or townhouse. Land dictates Vancouver demand.
There will never be a 5% reduction - houses will continue to go up until it requires $10M to buy a coach house in Vancouver. It is the only logical step forward. :D
 
Geyser
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Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
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Re: Monthly stats for May

Fri Jun 10, 2016 7:19 am

in 2009, when our market corrected, sellers were desperate to unload - thinking the prices were going much lower.
Within 10 months of the market bottom the prices were back to previous highs.
The total correction was 15%.
There were posters calling the recovery a "dead cat bounce", "catch a falling knife" etc.
The market has never looked back.
Buyers and market watchers will remember what happened a few short years ago - they won't be waiting for a large discount.
I bet buyers step in with as little as a 5% reduction - not wanting to be shut out this time.

My comments are for detached only. I have no interest in condo or townhouse. Land dictates Vancouver demand.
Well of course, and its pretty blatant that houses, townhomes, and so on are having higher demand so much its not even funny. Its just that not enough are there. And the main part is, even the naysayers agree things are not the same as before and there is no worry. A solemn +1
Yes, it was impressive to see how 30 year, zero deposit, emergency interest rate mortgages delayed normal market forces from bursting the bubble. Unfortunately, even King Canute couldn't stop the tide from eventually coming in.
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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Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am
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Re: Monthly stats for May

Fri Jun 10, 2016 7:36 am

market is looking good.. to the moon

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