Tuesday, June 4, 2013

Honest Numbers

Thanks REBGV for the HPI numbers.

YOY - HPI price drops...yes that's drops.

Detached 5.2%
Attached 3.7%
Apartments 3.2%

Over-all = 4.3%

Sales down significantly from last year.

Lets see if the media pick up on this. Anyone who bought property for investment (lets say with 100% cash) will be down 4% from May 2012 plus expenses 1% or so, and missed income on the investment 1-2%. Add in any rental income - which runs 3% or so now. So they are down 4% on their money.

No one is going to bail with that sort of drop, but if and when it gets to a 10% people will be starting to look at getting out. Especially if the investment was not 100% cash, but leveraged up with a mortgage.


  1. Look at the numbers. HPI negative for almost all areas over the last 5 years. Whistler, home-of-the-winter-Olympics TM, decimated.

    Attached down over 5 years in many areas.

    Detached down in more areas every month.

    The FVREB needs to take a leaf out of the page of the REBGV when they come up with their HPI numbers.

  2. 435 new
    272 price change
    299 sold

    7645 detached
    9210 attached