GREATER VANCOUVER
For all Residential properties:
July 2010 HPI - $ 577,076
All time high HPI April 2010: $593,419
For Detached:
August 2010 $795,076.
July 2010 $793,193
For Apartments:
August 2010 HPI $385,968
July 2010 HPI $387,879
For Attached:
August 2010 HPI $489,511.
July 2010 HPI $490,995.
All changes are +/- 1% ie well within the error of sampling and modelling. We can say with confidence that House Prices in Greater Vancouver were flat from July 2010 to August 2010. At least we have moved from option 3 in my previous post to option 2).
MOI is 7
Now lets see what higher MOI brings us.
Fish, I think we can also say that we are down 3% from peak and we have moved into a stable to buyer's market based on MOI and sales have only been lower in recent years in the crash year of 2008. Also that outside Vancouver, we are in a major buyer's market.
ReplyDeleteFair enough Frank.
ReplyDeleteBTW The Fraser Valley sits at 10 MOI.
Holly crap, my half joking comment on the last post was actually true.
ReplyDeleteChad, from the previous post, its damn hard for people to remove their bias because most people have a vested interest in RE. You, along with pretty much all other owners want RE to go up. Myself, along with anyone else who has the option to buy RE wants it to go down, so we can get a bigger place.
I want it to go down and I also think its going to go down. If I didnt, I would buy a place now.
You dont want it to go down and dont think it will, if you did, you would sell.
See why the bias is tough to get rid of? I think you have a bias, and you think I have a bias, technically, we're both right.
I do my best to look at things as objectivly as possible, and I think you do to, but neither of us are doing a very good job.
Let's call a spade a spade, shall we? There is only bias on one side of this debate. Unless this is the first time in hundreds of years of house prices that it's "different", any idiot can see we're in for a giant fall. I'm all for objectivity, but fer feck's sake...
ReplyDelete