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Central Okanagan housing market thread

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Re: Central Okanagan housing market thread

Postby Bman » Jan 17th, 2018, 7:59 am

Poor guy might have to rent forever now.
Is the world getting stupider, or is it just getting easier for stupid people to have their thoughts heard?
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Re: Central Okanagan housing market thread

Postby W105 » Jan 17th, 2018, 8:10 am

will be interesting to see how the housing market will be in 6mths..

higher rates and B20 = "pop" goes the weasel..
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Re: Central Okanagan housing market thread

Postby LANDM » Jan 17th, 2018, 8:19 am

W105 wrote:will be interesting to see how the housing market will be in 6mths..

higher rates and B20 = "pop" goes the weasel..


Isn’t it *always* interesting to see how the market will be in 6 months?

There is always something that has people predicting extremes on either side and then we end up seeing the normal cycle chug along in its due time. A correction is inevitable and, like other corrections, it will likely be relatively soft in the central Okanagan.....not the disastrous apocalyptic Armageddon that the former Horsemen (who have largely disappeared after getting sick of being wrong for years) had predicted.

Of course, in the event of some catastrophic change in the world, a soft landing can turn very hard but, in that case, the resale price of our home will be the least of our worries. :smt045
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Re: Central Okanagan housing market thread

Postby alanjh595 » Jan 17th, 2018, 8:34 am

forum wrote:Oh sweet justice! They raised it!

Today is a good day.

In case some of you don't know what a market bubble looks like when. It pops, have a quick gander at the Cryptocurrency markets today.

Remember that Canadian Real Estate hasn't only began crashing.
Every housing bubble in history has popped and over corrected.

Prepare yourselves for the inevitable.

Image


What are the shaded areas of that graph? You left that part out. Here, let me help you, from the article that the graph was taken from:
The chart below by Stéfane Marion, Chief Economist at Economics and Strategy, National Bank of Canada, compares US home prices per the Case-Shiller 20-City index to Canadian home prices per the Teranet-National Bank 26-market index. Both indices are based on similar methodologies of comparing pairs of sales of the same home over time. The shaded areas denote recessions in Canada. Note that during the housing crisis in the US, there was only a blip in Canada’s housing market:


Here's the link for the rest that want to do their own fact checking instead of relying upon just little snippets taken and published out of context.
https://wolfstreet.com/2017/04/10/specu ... a-economy/
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Re: Central Okanagan housing market thread

Postby LANDM » Jan 17th, 2018, 11:47 am

forum wrote:Oh sweet justice! They raised it!

Today is a good day.

In case some of you don't know what a market bubble looks like when. It pops, have a quick gander at the Cryptocurrency markets today.

Remember that Canadian Real Estate hasn't only began crashing.
Every housing bubble in history has popped and over corrected.

Prepare yourselves for the inevitable.



So I am seriously curious.....why the happiness on the higher interest rate?
Seriously.

How does this affect you positively?
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Re: Central Okanagan housing market thread

Postby CapitalB » Jan 17th, 2018, 11:49 am

For people that don't own or aren't looking to anytime soon it looks like the hope of less ridiculous rental prices. The general idea with these kinds of interest hikes is that they reduce housing prices, because despite how much homeowners love the prices skyrocketing constantly it makes everyone else suffer.
We are all capable of believing things which we know to be untrue, and then, when we are finally proved wrong, impudently twisting the facts so as to show that we were right.
― George Orwell

PS: I'm probably playing devils advocate.
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Re: Central Okanagan housing market thread

Postby alanjh595 » Jan 17th, 2018, 11:55 am

Higher interest rates will mean higher rents. Somebody is going to have to pay the extra cost, who better than the renter?

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Re: Central Okanagan housing market thread

Postby Even Steven » Jan 17th, 2018, 12:16 pm

MrBrocksEgo wrote:The general idea with these kinds of interest hikes is that they reduce housing prices, because despite how much homeowners love the prices skyrocketing constantly it makes everyone else suffer.


LOL the government doesn't hike up the rates to reduce someone's sufferings. They do so to cool down the economy and thus prevent inflation. The effect it has on housing is just a side effect.
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Re: Central Okanagan housing market thread

Postby Hassel99 » Jan 17th, 2018, 12:44 pm

MrBrocksEgo wrote:For people that don't own or aren't looking to anytime soon it looks like the hope of less ridiculous rental prices. The general idea with these kinds of interest hikes is that they reduce housing prices, because despite how much homeowners love the prices skyrocketing constantly it makes everyone else suffer.



What? Lol nope.
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Re: Central Okanagan housing market thread

Postby LANDM » Jan 17th, 2018, 1:17 pm

MrBrocksEgo wrote:For people that don't own or aren't looking to anytime soon it looks like the hope of less ridiculous rental prices. The general idea with these kinds of interest hikes is that they reduce housing prices, because despite how much homeowners love the prices skyrocketing constantly it makes everyone else suffer.


You should check with Mr. Brock to see if that is really what he thinks or if his ego is just getting out of hand with it’s opinions. His Id and SuperEgo don’t agree with you.
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Re: Central Okanagan housing market thread

Postby Hassel99 » Jan 17th, 2018, 5:50 pm

This is pretty interesting.

Do you recall Forum talking about Billionaire Marc Cohodes and his super short of Home capital?


Apparently that short did not work out for Marc as he is now suing Home Capital.

http://www.cbc.ca/news/business/home-ca ... -1.4491854
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Re: Central Okanagan housing market thread

Postby forum » Jan 17th, 2018, 6:08 pm

Hassel99 wrote:This is pretty interesting.

Do you recall Forum talking about Billionaire Marc Cohodes and his super short of Home capital?


Apparently that short did not work out for Marc as he is now suing Home Capital.

http://www.cbc.ca/news/business/home-ca ... -1.4491854


Marc Cohodes is in a great position. One way or another he's going to get paid for their lies.
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Re: Central Okanagan housing market thread

Postby lightspeed » Jan 17th, 2018, 6:38 pm

LANDM wrote:So I am seriously curious.....why the happiness on the higher interest rate?
Seriously.


Mental illness.
Schadenfreude.
Low self esteem.
Resentment.
Insecurity.
Attention seeking.
BPD.

The vile creature pukes up yet another hairball after dragging its scab-infested arse across the carpet that represents every decent, hard working, tax paying homeowner in Canada.

The old sages sneer at the useless, homeless creature bellowing and wailing at all around it like a child that needs mommy's teat and a bit of attention. Resentment pours from its skin like acid seeping from a leaky, rusty vat. Settle its colic-ridden belly, momma....

We observe from the sidelines. We laugh. Old sages know that this is just an adjustment of minor proportions to keep the lid on things, to stop things from bubbling over, and the overall health of RE in Canada is actually very good. As reported in recent disclosures. But if you've never owned RE in your life you can be forgiven for being so much ignorant hate-filled vermin.

Homeless peasants can wail and snivel as much as they like. They're now as far as they've ever been away from owning RE in Kelowna.
"Why does everyone in Kelowna act like they're in Hollywood"

A hermit; a recluse; one of the Okanagan "hill people"

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Re: Central Okanagan housing market thread

Postby forum » Jan 17th, 2018, 10:11 pm

Surviving the Cryptocurrency rodeo that's happening is child's play for me.

Why?

Because I stuck to a few simple rules:

1) Invest only what you can afford to lose.
2) Buy on the dips.
3) Stay calm and don't panic sell.

Its been hilarious watching people panic and bail on the crypto market. It happens Everytime. The weak hands lose. The strong hands ride it out.

What's not going to be so funny is watching the Canadian Real Estate market continue crashing and accelerating to the point of people becoming desperate and entering retirement with absolutely nothing because they went all in with their life savings into the false promise land that is Canadian Real Estate.

Kelowna is not different. It's just slow and stupid.

The day of reckoning is here. Time for the borrowers to pay the piper. No more cheap money. You better have some really awesome Internationally sellable skillsets because the incest orgy of selling homes to each other for profit is over.

I hope some of you don't make your entire living by selling Canadian real estate. Because you're in for hard times here on out. No amount of lies and fake stories are going to help you sell that old crusty Canadian home. You Realturds will be called out on the spot as complete liars.

The sentiment has changed. You boomers that think you're going to throw your house on the market in Spring and sell for a million dollars and sail off into the sunset for retirement are in for a real shocker. I hope you have really large savings accounts, and not just a bunch of HELOC debt. You'll never pay it off.

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Re: Central Okanagan housing market thread

Postby forum » Jan 17th, 2018, 10:34 pm

One of the best things about this Canadian Real Estate crash is that many of the Realturds won't be returning to the workforce.
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