Sunday, April 1, 2012

I'm back and so it would seem is the Housing correction

Average SFH prices down 6%.

Lets see what the median brings.

This is exactly what we want, a minor drop, which will not panic the Federal or Provincial government and lead to more catastrophic financial decisions.

I will look at the MOI's for different areas in a day or two.

6 comments:

  1. Have you heard the one about a tax break for 2nd homes? Unfortunately, it's not a joke. It's to re-boot the made in BC bust in the Okanagan, Whistler, and other secondary or tertiary areas. We can't have lower prices now can we?

    ReplyDelete
    Replies
    1. We're going to get much lower prices as soon as somebody decides we have to pay for things. This country is not paying for anything. We're not paying for inflation, as that would require higher interest rates. We're not paying for government, as deficits are not under control. And yet, the provincial government somehow feels comfortable handing out more borrowed money for people buying second homes?! I was simply dismayed before. Now I am thinking I do not want to be here when the bills come due. Lock my family to this place with a lifetime of debt? That must be a joke.

      Delete
  2. Yup- the idiots wont leave well alone. They know that there are not too many other games in this town.

    Anyway April started with a bear-bang. West Van SFH 16 new. 4 priced down. 3 sold.

    ReplyDelete
  3. hey fishy buddy, welcome back. I know Surrey numbers are going to be out tomorrow. But i cant wait any longer. I am choking. ;-). Please give me my mnumbers

    ReplyDelete
    Replies
    1. Surrey, North Surrey, South Surrey and White Rock basically came in at a MOI of 9 for March.

      Delete
  4. Our whole system has been set up to keep our banks strong and making big profits. They pay zero interest rate on deposits and change 4% for money lent, a historically wide spread. Their risk is transferred to the tax-payers vis the CMHC. Many politicians run to the boards of banks as soon as they are kicked out of office, and yet that is not enough for them.

    They have to 'trade'. Trading BTW is just another name for gambling with Other people's money. These banks find making huge amounts of money from fees and interest rate differential too boring. They have to have trading floors to be sexy and generate big bonuses. A completely useless endeavour.

    And then there is this....

    http://ca.finance.yahoo.com/news/us-sues-royal-bank-canada-224051209.html

    ReplyDelete