We know Whistler has been in bad shape for a long time. Americans left a long time ago, Chinese are not interested yet, and baby-boomer demographics are working against the lofty prices.
It is a great winter resort but there is no reason to pay $1000/foot to get a few two-by-fours there.
Well things have gone a lot further downhill than I had thought. MINUS 11% , 12% and 43% are the 5 year benchmark returns according to the REBGV stats for detached, attached and apartments.
The media has also woken up to the carnage:
Whistler real estate prices plummet up to 68 per cent from CTV (hat tip Sothseacompany on Vancouver condo)
Interesting that they go to Tsur Sommerville for analysis and commentary and explanation. Why the media go to the same few names baffles me. Did Tsur say Whistler is going to take a big fall? Maybe he did and I missed it and I stand to be corrected.
But if he didn't, THEN WHY GO TO HIM FOR ANALYSIS NOW??
If a guy didn't call the big fall, then how valid is his opinion? Much more valid to contact a David Madani or Garth Turner who have been calling for this, than the guys who have taken the other side IMVHO.
This is how it ends:
Fun with quant: MS Business Conditions edition - Marketwatch recently reported that Morgan Stanley's Business Conditions Index had deteriorated to levels last seen during the 2007-08 financial crisis. Wow...
8 hours ago