Central Okanagan housing market thread

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Re: Central Okanagan housing market thread

Postby LANDM » Feb 5th, 2018, 10:12 pm

forum wrote:
LANDM wrote:And, Forum, you still haven’t taken me up on the simple bet......or explained why not.
Or is it just that you know how full of schiesse you are?


Because I'm a crypto cowboy investor and your bet is bush league.


Nahhhh......that’s not it at all. Bwahahahahaha [icon_lol2.gif]

As with my last bet proposal, you can simply name your price. But then by now you probably know how wrong you are....again.

I love it when someone can never back up what they say,,,,,never...not once. [icon_lol2.gif]
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Re: Central Okanagan housing market thread

Postby alanjh595 » Feb 6th, 2018, 5:32 am

HorganIsMyHero wrote:No, not really. Younger people are just tired of paying $1500 a month to rent a cardboard box.
Don't you ever get tired of being wrong?


Prove me wrong.
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Re: Central Okanagan housing market thread

Postby forum » Feb 6th, 2018, 8:42 am

Just a friendly reminder that every bubble pops.

Every. Single. One.

What faltering stocks and bonds could mean for house prices


As bonds and stocks tumble due to fear of rising interest rates, there are signs Canada's housing market is facing similar strains.

Prices hard to read
Unlike stock and bond indexes that offer an accurate running tally, the monthly Canadian Real Estate Association data we use to estimate the changing value of residential real estate is neither as immediate nor as transparent.


http://www.cbc.ca/beta/news/business/markets-houses-real-estate-1.4520046
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Re: Central Okanagan housing market thread

Postby forum » Feb 6th, 2018, 8:56 am

The domino effect...

Toronto's cold breeze will blow into the Okanagan.

We just got the first real picture of the Toronto housing market — and it’s ugly


Toronto home sales tumbled in the first month of 2018, as tougher mortgage qualification rules came into play and borrowing costs rose.

Sales in Canada’s biggest city fell 22 per cent to 4,019 units from a year earlier, according to data released Tuesday by the Toronto Real Estate Board. It was the weakest month of sales for January since 2009. The average price of a home sold in Toronto was $736,783, down 4.1 per cent from January 2017, though little changed from December.


http://business.financialpost.com/real-estate/january-home-sales-in-greater-toronto-area-down-22-per-cent-from-year-ago

Timmmbeeeeeeer!

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Re: Central Okanagan housing market thread

Postby LANDM » Feb 6th, 2018, 1:00 pm

forum wrote:The domino effect...

Toronto's cold breeze will blow into the Okanagan.

We just got the first real picture of the Toronto housing market — and it’s ugly


Toronto home sales tumbled in the first month of 2018, as tougher mortgage qualification rules came into play and borrowing costs rose.

Sales in Canada’s biggest city fell 22 per cent to 4,019 units from a year earlier, according to data released Tuesday by the Toronto Real Estate Board. It was the weakest month of sales for January since 2009. The average price of a home sold in Toronto was $736,783, down 4.1 per cent from January 2017, though little changed from December.


http://business.financialpost.com/real-estate/january-home-sales-in-greater-toronto-area-down-22-per-cent-from-year-ago

Timmmbeeeeeeer!

Image


Wow, neat. Even a chart with fictional data!
Since you are so confident, you can still take me up on my bet vis a vis your claim on our local market for January.

Whatever amount you want. Free money for you to invest in crypto. Yours for the taking.

Unless, of course, everything you say is wrong....... [icon_lol2.gif] [icon_lol2.gif] [icon_lol2.gif]
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Re: Central Okanagan housing market thread

Postby alanjh595 » Feb 6th, 2018, 2:58 pm

LANDM wrote:Wow, neat. Even a chart with fictional data!
Since you are so confident, you can still take me up on my bet vis a vis your claim on our local market for January.

Whatever amount you want. Free money for you to invest in crypto. Yours for the taking.

Unless, of course, everything you say is wrong....... [icon_lol2.gif] [icon_lol2.gif] [icon_lol2.gif]


We all know from experience, he won't take the bet. His predictions have yet to come even close to being near correct. I would bet more on his track record of being wrong, than I would that he has a chance of coming in 9th place on a field of 8.

Doesn't matter how easy the bet is for him to take, he will either ignore it, and hope it goes away, or he will welch and not pay-up anyways.
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Re: Central Okanagan housing market thread

Postby W105 » Feb 6th, 2018, 3:14 pm

seems like he's ignoring it..so why don't you guys do the same now...it's getting old, like this crap weather....

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Re: Central Okanagan housing market thread

Postby alanjh595 » Feb 6th, 2018, 3:32 pm

Why are you so compelled to run in and rescue the profit of doom? Why don't you take your own advice and ignore those that oppose his long history of being wrong?
If at first you don't succeed, skydiving is not for you.
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Re: Central Okanagan housing market thread

Postby LANDM » Feb 6th, 2018, 4:19 pm

W105 wrote:seems like he's ignoring it..so why don't you guys do the same now...it's getting old, like this crap weather....

All sorts of things get old......predicting doom incorrectly for four years gets old too.

Just seeing if he will back up what he *specifically* said about the central Okanagan market performance for January. It is both on topic and relevant since he was the one making a specific claim. It is also relevant because he was very vocal in the past about his "bet offers". One would think it would work both ways, no?

I like the weather as it is putting snow up on the ski hill. Nice to get back up after enjoying some beach time. :up:
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Re: Central Okanagan housing market thread

Postby W105 » Feb 6th, 2018, 4:26 pm

and what if he doesn't LANDM ?? what's the prize ??

and I can't wait until spring !! thank god Feb is a short mth...
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Re: Central Okanagan housing market thread

Postby alanjh595 » Feb 6th, 2018, 4:37 pm

W105 wrote:and what if he doesn't LANDM ?? what's the prize ??

and I can't wait until spring !! thank god Feb is a short mth...



LIKE 2 less days will make a difference.......except to those that have to pay rent on the 1st day of the month....... :raspberry: :panic:
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Re: Central Okanagan housing market thread

Postby LANDM » Feb 6th, 2018, 5:34 pm

W105 wrote:and what if he doesn't LANDM ?? what's the prize ??

and I can't wait until spring !! thank god Feb is a short mth...

No prize whatsoever.....I don’t have "trophies".....I’m merely asking him to back up what he says.

If he chooses not to, it certainly provides insight into his self awareness on his ability to comment on something he has been spectacularly wrong about for years.

It is of little consequence to your life, my life, and, presumably, his life. However, since this is a discussion thread on the central Okanagan market, it is entirely reasonable to ask for some sort of justification to comments that I know are incorrect.

There doesn’t have to be an end game to everything......... :135:
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Re: Central Okanagan housing market thread

Postby normaM » Feb 6th, 2018, 6:00 pm

Forum probably owns a Mansion on the hill and just gets off stirring the pot
I agree Feb is nice and short after the year known as January
Soon Summer, then Thanksgiving basically 2018 over
People have to live somewhere, ergo they will buy houses/condos
They need to get rid of the title transfer tax, it is BS
Bought 3 houses ( sold 2) when we first moved here .. I would like a rebate
Old as dirt= but we should type how many houses we have owned ( lived in) over the years. Should have held on the the lil place in Edmonton. Slight whimper
3 houses under 2 years, call me Goldilocks.
Never the best idea to buy before actually moving to a City never been
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Re: Central Okanagan housing market thread

Postby domain » Feb 6th, 2018, 11:04 pm

Just wanted to drop in and deposit a piece of real estate info.

My colleague who lives in Edmonton, and owns a very nice rental condo in a (formerly?) sought-after area, told me he had a bad weekend. His rental condo, which he had purchased for $415k a couple of years back, is now worth about $350k. He wanted to sell it this spring to free-up his equity (which will be wiped-out in a sale) to buy-into the company he works for. The $350k is mid to upper for price in his building, and other units priced the same or lower haven’t had any viewings.

His realtor had convinced him last fall that he should wait until this spring to sell, but that now appears to have been bad advice to follow. The $65,000 loss that is staring him squarely in the face has him second guessing the sale. He can’t stomach the loss so he would rather cling to it in hopes of the price recovering, despite the rental bleeding him by $600/month due to the weaker rental pricing. He is a good friend, and I don’t wish him harm, but we discussed this whole scenario last summer when he was thinking of selling the condo.

So the fear of realizing the loss will outweigh any rational alternatives, and he may very well regret the decision to hold it for longer. Peoplekind is fraught with inherent similarities in behavior, especially when fear is involved. And this can lead people to sell things when they should hold or buy, just the same as it can make people buy at the peak, then cling to hope in an effort to avoid the truth of their mistakes.

Plenty of pain to go around still, in real estate and equities. Just think if you shorted HVU by going into HVI this morning like one of my other colleagues, and watched $5000 turn into $0 before 10am. I still think that it is reasonable to expect in the near future, a demonstration of the reverse wealth effect of depreciating assets morphing into a positive feedback loop that will touch everyone.
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Re: Central Okanagan housing market thread

Postby LTD » Feb 6th, 2018, 11:21 pm

if you buy a "rental" condo and then turn around and try to sell it a few years later you get what you get really, it completely defats the purpose it sucks for him but failing to plan is planning to fail i would source the money elsewhere and keep it rented your story sounds like a bit of a tall tale anyway so I'm sure your friend will be fine
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