What All Americans Need to Do NOW!

[VancouverGoinUp]

Folks,

I,ve been preaching from the pulpit here for quite sometime.
Those who have listened have not only made fabulous profits but now in this age of globale credit turmoil have secured their capital and secured their families future.

Vancouver stared sub-crime in the eye and never blinked, It stared Paulson in the eye and never blinked and sure as heck stared Shiller in the eye and never blinked.

Folks, the US is in deep deep trouble. Your dollar is essentially worthless although most Americans are not aware of this tragedy. America went off the gold standard in the 1970's another American tragedy unfortunately lost on most Americans.

Fortunately there is hope and there is salvation.

Follow the rainbow to Vancouver because Vancouver is Goin Up
Vancouver is better than Gold. All the rich of Asia are clambering to move here. They will pay any price. No Global Recession. Repeat No GLobal recession will affect Vancouver. It is destiny and cannot be stopped.

Stop listening to the doomsayers and do something. Do the right thing for your family and put an iron fist on the tiller and navigate to peace and prosperity in Vancouver

[sadsack]

Re: What All Americans Need to Do NOW!

Catch the last evanescent froth of the greatest bubble in 21st century history!

Roll up! Roll up! See the show! (for you ELP fans . . . )

[ocelotl]

Re: What All Americans Need to Do NOW!

Roll Vancouver up...





























Roll it higher...





























Roll it higher...





























Roll it higher...





























Now, let it drop!

From a joke I heard in spanish.

[WDCRob]

Re: What All Americans Need to Do NOW!

Oops.

Wonder what happens next?

[GRG55]

Re: What All Americans Need to Do NOW!

Jameson House is one of several condo projects suspended or halted, including:
- Onni Group's the Whittaker in New Westminster and its proposed V6A development in Vancouver's Chinatown.
- Two Surrey residential towers, Infinity and Sky Towers.
- Lucaya, a $30-million condo development in Kelowna, and Capella, a $1.4-billion luxury project on Vancouver Island.
- Millennium's $400-million Evelyn towers near Park Royal mall in West Vancouver.
- The $500-million-plus downtown Vancouver Ritz-Carlton hotel-condo project has also been put on hold.

"There is no precedent for what's happening today," said Simpson.

That last line from the article is disingenuous.

The greater Vancouver metro area has seen some spectacular condo busts. The last "big one" was triggered by the handover of Hong Kong to the Chinese. Developers were selling off-plan high rise condos [some less than 600 sq ft] to Hong Kong buyers, who were apparently "buying insurance" sight unseen. As the story of limitless Asian buying interest spread, and prices kept rising, the uninformed speculators were once again drawn into the game. When the inevitable bust came there were numerous high rise condo towers in the West End of downtown that were completely dark at night. Not a single resident [or tenant].

[metalman]

Re: What All Americans Need to Do NOW!

That last line from the article is disingenuous.

The greater Vancouver metro area has seen some spectacular condo busts. The last "big one" was triggered by the handover of Hong Kong to the Chinese. Developers were selling off-plan high rise condos [some less than 600 sq ft] to Hong Kong buyers, who were apparently "buying insurance" sight unseen. As the story of limitless Asian buying interest spread, and prices kept rising, the uninformed speculators were once again drawn into the game. When the inevitable bust came there were numerous high rise condo towers in the West End of downtown that were completely dark at night. Not a single resident [or tenant].

always wanted my very own apt building... free open spaces... hold a big party.

[GRG55]

Re: What All Americans Need to Do NOW!

always wanted my very own apt building... free open spaces... hold a big party.

Haven't heard from our good friend in quite a while...the one who started this thread, and a number of others like it. :rolleyes:

It's official. It's over in Vancouver :eek:.

How do we know?

One of the funniest blogs on the insanity underway in my hometown, condohype, has signed off for good. It was a scream while it lasted...

How are we possibly going to live without the obligatory interior water feature, or the dedicated pizza oven in the oversized, but underused, kitchen? Civilization will never be the same again...

http://condohype.wordpress.com/
Foreclosure

March 31, 2009 by condohype

I spent last night reading over all the posts I’ve written. The earliest days of the blog — specifically those leading up to the market peak in Spring 2008 — are undoubtedly the best. It’s in this period where the writing’s ironic deconstruction is at its most devastating and most funny.

Part of me longs for the days of bidding wars and double-digit appreciation. In those insane times Vancouver hit the apex of its narcissism. In our self-love, we found meaning in a condo-cultural existence. Sophisticated. Discerning. Urbane. Marketers called it “the lifestyle.” Vancouver, the city of dreams — yours to own — starting at $800 a square foot.

After more than 24 months, 200 posts and millions in disappeared market value, Condohype is in foreclosure. This is my last post. Falling prices and a contracting economy have humbled the Vancouver real estate fantasia. The changing conditions of the market make my brand of comedy less funny. Irony is my weapon of choice and there’s no irony in watching an inflated economy collapse. It is the natural course.

History will be mostly unkind when it looks back on the boom years. So much of a culture is summed by the advertising of the day. When researchers look back at the condo ads, what will they make of Vancouver circa 2002-2008? Probably a lot like what we make of consumer marketing of the 1950s: Silly, offensive and alien to modern values. Father knows best? Own the lifestyle?

Despite all that’s happened, I still love Vancouver. It’s a strange love but love nonetheless. It’s like that crush you had in high school — the one that rejected you and you’re madly in love with regardless. Over the years, you may have become bitter, at times even angry, but you never give up that some day the dream will come to be. (Those who give up move to Toronto.)

So, I guess this is the part where we say goodbye. In the interest of full disclosure, I’ll put an end to the rumour about my identity. For the record, I am not Bob Rennie.

Thank you so much for reading. I hope you’ve had a fun time. The comments are open for final thoughts.

[GRG55]

Re: What All Americans Need to Do NOW!

And if there was any question that Vancouver was the real estate bubble capital of Canada, have a scan down this chart of average prices one year ago, and further down the charts from 1st Q this year. Even compared to bubblicious Calgary and perpetually overpriced [and overated] Toronto, Vancouver was, and remains, insane.

I don't imagine VancouverGoingUp would care to comment.

Is all that rain really worth it?

Chart courtesy of Royal LePage
http://www.royallepage.ca/CMSTemplat...e.aspx?id=1746

FIRST QUARTER 2008 HOUSE PRICE SURVEY DATA CHART

	Detached Bungalows			Standard Two Storey			Standard Condominium
Market	Q1 2008 Average	Q1 2007 Average	Bungalow % Change	Q1 2008 Average	Q1 2007 Average	2 Storey % Change	Q1 2008 Average	Q1 2007 Average	Condo % Change
Halifax	$207,333	$190,000	9.1%	$246,333	$200,000	23.2%	$152,000	$144,000	5.6%
Charlotte- town	$155,000	$145,000	6.9%	$185,000	$175,000	5.7%	$105,000	$100,000	5.0%
Moncton	$152,000	$138,000	10.1%	$135,300	$132,000	2.5%	-	-
Fredericton	$160,000	$156,000	2.6%	$197,000	$187,000	5.3%	$126,000	$131,000	-3.8%
Saint John	$185,000	$161,700	14.4%	$264,000	$210,400	25.5%	$142,000	$118,500	19.8%
St. John's	$164,000	$145,000	13.1%	$229,333	$200,000	14.7%	$173,333	$148,333	16.9%
Atlantic	$170,556	$155,950	9.4%	$209,494	$184,067	13.8%	$116,389	$106,972	8.8%
Montreal	$227,799	$219,313	3.9%	$332,389	$323,375	2.8%	$201,778	$197,438	2.2%
London	$223,300	$203,500	9.7%	$230,300	$211,470	8.9%	$124,100	$116,000	7.0%
Ottawa	$311,583	$298,083	4.5%	$309,833	$294,667	5.1%	$198,083	$187,333	5.7%
Toronto	$432,679	$388,921	11.3%	$544,150	$503,778	8.0%	$298,662	$279,442	6.9%
Winnipeg	$229,125	$191,375	19.7%	$242,943	$220,714	10.1%	$138,000	$122,000	13.1%
Regina	$237,138	$158,500	49.6%	$227,000	$159,500	42.3%	$160,917	$102,500	57.0%
Saskatoon	$340,000	$226,250	50.3%	$395,000	$257,500	53.4%	$220,000	$155,000	41.9%
Calgary	$442,852	$402,933	9.9%	$445,792	$411,456	8.3%	$281,807	$261,336	7.8%
Edmonton	$330,000	$347,000	-4.9%	$363,707	$377,643	-3.7%	$235,000	$254,667	-7.7%
Vancouver	$852,750	$758,000	12.5%	$948,750	$837,500	13.3%	$455,750	$403,500	12.9%
Victoria	$439,000	$384,500	14.2%	$460,000	$418,000	10.0%	$294,000	$248,000	18.5%
National	$336,834	$311,108	8.3%	$400,647	$374,114	7.1%	$240,423	$225,006	6.9%

Royal LePage’s quarterly House Price Survey shows the following annual change of prices for key housing segments in select national markets:

Detached Bungalows
Market	Q1 2009 Average	Last Quarter Average	Q1 2008 Average	Bungalow % Change
Halifax	215,667	195,000	185,000	16.6%
Charlottetown	157,000	157,000	155,000	1.3%
Moncton	156,000	150,000	152,000	2.6%
Fredericton	167,000	162,000	160,000	4.4%
Saint John	201,476	225,064	199,786	0.8%
St. John's	193,000	190,050	164,000	17.7%
Montreal	232,375	235,293	227,799	2.0%
Ottawa	317,500	321,333	311,583	1.9%
Toronto	405,286	376,286	432,679	-6.3%
Winnipeg	231,663	221,150	229,125	1.1%
Regina	266,625	274,167	237,138	12.4%
Saskatoon	312,500	300,000	340,000	-8.1%
Calgary	391,833	410,333	442,852	-11.5%
Edmonton	298,750	300,000	336,250	-11.2%
Vancouver	743,750	743,750	852,750	-12.8%
Victoria	453,000	440,000	439,000	3.2%
National	319,865	316,717	337,023	-6.1

Standard Two Storey
Market	Q1 2009 Average	Last Quarter Average	Q1 2008 Average	2 Storey % Change
Halifax	242,000	240,000	229,000	5.7%
Charlottetown	188,000	188,000	185,000	1.6%
Moncton	134,500	126,000	135,300	-0.6%
Fredericton	210,000	210,000	197,000	6.6%
Saint John	268,000	294,695	264,000	1.5%
St. John's	265,000	261,800	229,333	15.6%
Montreal	330,056	334,850	332,389	-0.7%
Ottawa	318,500	320,083	309,833	2.8%
Toronto	516,052	522,050	545,750	-5.4%
Winnipeg	251,721	251,171	242,943	3.6%
Regina	245,000	245,000	227,500	7.7%
Saskatoon	348,500	348,500	395,000	-11.8%
Calgary	390,689	417,511	445,792	-12.4%
Edmonton	326,713	354,363	372,738	-12.3%
Vancouver	828,750	837,500	948,750	-12.6%
Victoria	435,000	433,000	460,000	-5.4%
National	379,636	385,777	401,040	-6.5%

Standard Condominium
Market	Q1 2009 Average	Last Quarter Average	Q1 2008 Average	Condo % Change
Halifax	144,000	144,000	130,000	10.8%
Charlottetown	120,000	120,000	120,000	0.0%
Moncton	N/A	N/A	N/A	N/A*
Fredericton	137,000	133,000	126,000	8.7%
Saint John	181,387	158,283	153,000	18.6%
St. John's	205,667	203,000	173,333	18.7%
Montreal	206,528	203,808	206,556	0.0%
Ottawa	207,833	207,833	198,083	4.9%
Toronto	289,397	296,895	298,662	-3.1%
Winnipeg	145,943	132,643	138,000	5.8%
Regina	168,806	172,917	160,917	4.9%
Saskatoon	187,000	186,500	220,000	-15.0%
Calgary	245,756	257,189	281,807	-12.8%
Edmonton	210,000	219,031	243,750	-13.8%
Vancouver	431,500	405,000	455,750	-5.3%
Victoria	260,000	265,000	294,000	-11.6%
National	232,877	233,462	241,152	-4.0%

[zoog]

Re: What All Americans Need to Do NOW!

And if there was any question that Vancouver was the real estate bubble capital of Canada, have a scan down this chart of average prices one year ago, and further down the charts from 1st Q this year. Even compared to bubblicious Calgary and perpetually overpriced [and overated] Toronto, Vancouver was, and remains, insane.

I don't imagine VancouverGoingUp would care to comment.

Is all that rain really worth it?

Chart courtesy of Royal LePage
http://www.royallepage.ca/CMSTemplat...e.aspx?id=1746

Thanks for update on condohype. It's been a long time since I've looked at the site but it was pretty funny stuff back in the day.

Occasionally when someone on iTulip remains staunchly bullish on stocks or a recovery, while others argue to dissuade them, I think about VancouverGoinUp. No matter what we threw at him/her, they charged on with banners and trumpets, urging us all to buy Vancouver real estate at these "bargain" prices, because it would never, ever, ever get any cheaper.

Until prices in Vancouver started falling and they stopped posting...

I'll just throw in my chart on Vancouver benchmark prices, through March 2009.

[GRG55]

Re: What All Americans Need to Do NOW!

Thanks for update on condohype. It's been a long time since I've looked at the site but it was pretty funny stuff back in the day.

Occasionally when someone on iTulip remains staunchly bullish on stocks or a recovery, while others argue to dissuade them, I think about VancouverGoinUp. No matter what we threw at him/her, they charged on with banners and trumpets, urging us all to buy Vancouver real estate at these "bargain" prices, because it would never, ever, ever get any cheaper.

Until prices in Vancouver started falling and they stopped posting...

I'll just throw in my chart on Vancouver benchmark prices, through March 2009.

I think I see a bottom forming...:rolleyes:

[KenD]

Re: What All Americans Need to Do NOW!

Occasionally when someone on iTulip remains staunchly bullish on stocks or a recovery, while others argue to dissuade them, I think about VancouverGoinUp.

I have to admit that one of the great things about this forum is that there is a documented history of everyone's written opinions/projections that allows someone like me to judge everyone's credibility.