Vancouver not goin' up!

[GRG55]

Re: Vancouver not goin' up!

Thanks GRG. I tried persuading one of our investors from putting money in the Aussie RE market but alas it didnt work.

This was within the last 6 months. He is going to get crushed IMO.

What kind of company if I may ask?

I have spent my entire career in mineral resource exploration, production and marketing. In the early years it was other people's money, as I was an employee. But apparently we get stupider as we get older, and now I risk my own capital (along with my partners). I would be a LOT wealthier if I had discovered iTulip in 2000, assuming I would have been smart enough to take EJ's advice and be a "lazy investor" and do the bond/gold portfolio thing...but the past dozen years of my life wouldn't have been nearly as interesting. :-)

[ProdigyofZen]

Re: Vancouver not goin' up!

Well that sounds great GRG. In 2000 I was 16 years old. Not sure I cared much about finance back then but my love of history drove me into macro economics.....

One of my profs back in college lived for 30 years in Perth and taught at a university there as well as had his own business etc.

[zoog]

Re: Vancouver not goin' up!

...The Real Estate Board of Greater Vancouver said there were 2,362 property sales in June, a 27.6% drop from a year earlier and a 17.2% decline from just May.
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Prices appear to be stabilizing base on what the board calls its composite benchmark price index which is up 1.7% over the last year and 0.7% down from May...

Back in the fall of 2008, there was this from the REBGV:

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in Greater Vancouver declined 42.9 per cent in September 2008 to 1,585 from the 2,776 sales recorded in September 2007.
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“After five years of unprecedented increases, housing prices are beginning to realign,” REBGV president, Dave Watt said.

I was convinced that Vancouver's housing bubble had popped, and probably commented to that effect here on itulip. Yet, after what appeared to be a rollercoaster drop through that winter and early spring, prices recovered and then continued to climb. So now I am more cautious.

[GRG55]

Re: Vancouver not goin' up!

Back in the fall of 2008, there was this from the REBGV:

I was convinced that Vancouver's housing bubble had popped, and probably commented to that effect here on itulip. Yet, after what appeared to be a rollercoaster drop through that winter and early spring, prices recovered and then continued to climb. So now I am more cautious.

...

It shows that it isn't all that difficult to identify an incipient bubble, or one that is well developed. But it is nearly impossible to predict with any confidence how long it will keep inflating and how big it will eventually become...before it finally exhausts itself...