We are seeing a little bump up in sales. Why? Who knows.. But we have had a dip in the 5 year rates and then recently another run-up in the stock-market which seems to be highly correlated with the RE frenzy.
As stocks go up, people feel richer and more confident while others cash out of stock options and banks feel more macho about lending.
Anyway we have had a small blip up in the list/sale ratio over the last week or so, which has coincided perfectly with the stock run-up, lets see how far this has to run.
We are still seeing Governments around the world committed 100% to keeping rates so low, well below inflation, that savers get punished and speculators which are never-to-be-reigned-in saved.
For now it is a wait and see. This fall was very different from last fall. Listings kept coming and sales dwindled, we will have to see if this is a temporary set-back or whether we are off to the races again.
Watching China suggests things are not so hot. There stock market is down 22% from a year ago, though an agreement this week in Europe may change all that.
I had posted earlier that I thought October would bring us flat YOY for one of the measures on Vancouver RE. Lets see whether that was a foolish prediction or not.
ReplyDeleteDon't worry the top is already in. Didn't you hear, Chad sold.
ReplyDeleteLost of newly bought HAM homes up for rent. No one renting. Prices dropping. So sorry.
ReplyDeleteCouldn't agree more with Tyee Bridge @vreaa that "a 40% market crash would not put median-income earners in reach of a 3-bdrm home in Vancouver."
ReplyDeleteFortunately, I went for plans B & C at the time when Mohican & LostSoul opted for their plan B respectively.
dang! I have to create a blog to post under a name! sorry I don't have much to say.
ReplyDeleteFrank, you have not responded to THREE of my challenges. Why are you scared? I'm an idiot, I make stuff up, I'm a liar. Right? ACCEPT THE CHALLENGE YOU COWARD.
ReplyDelete"I don't know if you're new here, Frank, but I posted throughout the life of this blog when I was holding RE and I posted when I sold. If you'd like me to show you the statements of my NFLX short, I will. If you'd like to compare my investment returns for 2009, 2010 or 2011, to yours, I'd love to do that. Better yet, put money where your mouth is, if your % returns on ANY of the past 3 years is better than mine, you win the bet, if mine is better, I win the bet. You name the price, no maximum, no minimum.
I'll await your response. "
Anon- no you dont have to get a blog to get a name. When you post , just scroll down to where it says name, make one up, leave the URL line blank and post it!
ReplyDelete