Housing Looking FANTASTIC!!!

[VancouverGoinUp]

Not in the US but across the border north to your neighbour Vancouver BC
Things have never been better!
Consistently ranked the Number 1 City in the World and the Gateway to China. With the 2010 Olympic Games just around the corner coupled with world wealth looking for a safe haven you are looking at Vancouver Real Estate not going down for decades to come.
I encourage all Americans currently who have sold their homes or are in the process of doing so to cash all your assets in and move them into Vancouver Real Estate. West side home now average 1.3 million with forecasts of 7-10% increases for the foreseeable future year in year out decade in decade out. Some people say this is not sustainable. Of course for many parts of the world that would be true - but not in Vancouver. Millions of overseas investors across the pond in China and Europe view Vancouver Real Estate as a dirt dirt cheap investment.

Here is a recent excerpt
Real estate market sales brisk in Lower Mainland in July


Derrick Penner, Vancouver Sun

Published: Thursday, August 02, 2007
Lower Mainland real estate markets saw brisk sales in July, local real estate boards report, with Greater Vancouver experiencing its second highest level of transactions ever for the month and the Fraser Valley its third highest.
Greater Vancouver recorded 3,873 Multiple-Listing-Service sales in July, 41.8 per cent more than July, 2006, and five per cent over the record July of 2003

Best of Luck to All you know You Can't Lose cause Vancouver is Goin Up!!!

[zoog]

Re: Housing Looking FANTASTIC!!!

"It's different here"™

[VancouverGoinUp]

Re: Housing Looking FANTASTIC!!!

Exactly - much much different. To keep a balanced approach here is a very conservative estimate from one Canadian Bank

Average House Price Will Increase 4% Per Year for the next 25 years.
TD Bank Financial Group- September 2006
Home prices in Canada should rise 4% annually on average over the next 25 years, although that won’t hold for all houses in all markets, according to a TD Bank report.
“Our report confirms the old adage that real estate is all about location, location, location,’’ Craig Alexander, deputy chief economist of TD Bank Financial Group, said in a release. Victoria, Vancouver, Toronto and Montreal are the cities will see higher prices than 4%.!!!!!!!!!!!

That is over 25 years and higher than 4% returns. Remember this is a very conservative estimate.

[FRED]

Re: Housing Looking FANTASTIC!!!

Exactly - much much different. To keep a balanced approach here is a very conservative estimate from one Canadian Bank

Average House Price Will Increase 4% Per Year for the next 25 years.
TD Bank Financial Group- September 2006
Home prices in Canada should rise 4% annually on average over the next 25 years, although that won’t hold for all houses in all markets, according to a TD Bank report.
“Our report confirms the old adage that real estate is all about location, location, location,’’ Craig Alexander, deputy chief economist of TD Bank Financial Group, said in a release. Victoria, Vancouver, Toronto and Montreal are the cities will see higher prices than 4%.!!!!!!!!!!!

That is over 25 years and higher than 4% returns. Remember this is a very conservative estimate.

The Republic of East Vancouver

The housing bubble will exact a heavy price both individually and society wide when it finally bursts

[zoog]

Re: Housing Looking FANTASTIC!!!

Oh, I thought your original post was sarcastic. You must be a realtor or otherwise directly dependent on rising home prices.

Average House Price Will Increase 4% Per Year for the next 25 years.

US median home prices have averaged 6% over the past 40 years. Over long periods, virtually any market (be it housing, stocks, whatever) will have returns in that range. What long-term averages don't show you is the unsustainable spikes and subsequent drops along the way.

Let us know when median incomes in Vancouver have skyrocketed to match housing prices.

[metalman]

Re: Housing Looking FANTASTIC!!!

Oh, I thought your original post was sarcastic. You must be a realtor or otherwise directly dependent on rising home prices.



US median home prices have averaged 6% over the past 40 years. Over long periods, virtually any market (be it housing, stocks, whatever) will have returns in that range. What long-term averages don't show you is the unsustainable spikes and subsequent drops along the way.

Let us know when median incomes in Vancouver have skyrocketed to match housing prices.

fred's got a sense of humor letting this guy/gal in. like tossing a mouse into a closet full of cats.

[Jim Nickerson]

Re: Housing Looking FANTASTIC!!!

Oh, I thought your original post was sarcastic. You must be a realtor or otherwise directly dependent on rising home prices.



US median home prices have averaged 6% over the past 40 years. Over long periods, virtually any market (be it housing, stocks, whatever) will have returns in that range. What long-term averages don't show you is the unsustainable spikes and subsequent drops along the way.

Let us know when median incomes in Vancouver have skyrocketed to match housing prices.

SRS is looking good today, nice move.

[Andreuccio]

Re: Housing Looking FANTASTIC!!!

It would be nice to see an overlay of Zoog's graph of Vancouver real estate with one from the US of the same period to show just how different they really are.

I know I for one am ready to move to Vancouver to cash in on this bonanza. Can you recommend a good realtor, VancouverGoinUP?

[zoog]

Re: Housing Looking FANTASTIC!!!

It would be nice to see an overlay of Zoog's graph of Vancouver real estate with one from the US of the same period to show just how different they really are.

The temptation was too great. Caveats noted in the chart, but the run-up in detached housing in Vancouver BC is roughly equivalent to Phoenix, especially in the last few years.

[Andreuccio]

Re: Housing Looking FANTASTIC!!!

Well, maybe I'll save some airfare and just drive to Pheonix instead. ;)

Is there a PheonixGoinUp here that can give me some tips?

[VancouverGoinUp]

Another Article Confirming Great Things

First off - for those looking for a Realtor i would suggest doing a search and find one who specializes in a particular are of Vancouver you are interested in.

And now the article (Again conservative estimates of 5 - 10 years goingup)

Housing Market in Vancouver, British Columbia, Canada

Perhaps no housing and real estate market in North America is as healthy or contains as much potential as the city of Vancouver, British Columbia, Canada. For decades, the public at large viewed Vancouver as nothing more than a squalid mill town beseeched by rain 300 days of the year. But Expo ’86 changed all that forever. The city did an incredible job of cleaning up many industrial sites and the 10 solid days of nothing but beautiful sunshine demonstrated to the world that Vancouver was truly an unpolished diamond with incredible ocean and mountain views ready to be invested in.


Since 1986, real estate prices have been rising, and they haven’t really stopped. For those familiar with the Vancouver housing markets, it has become a bit of a running joke trying to figure out where the ceiling is for investment here. The short answer is that there might not be a ceiling at all, at least for another 5-10 years.


Vancouver was picked as the host for the 2010 Winter Olympics, and real estate investors are watching this date very closely. Much like the massive clean up and infrastructure improvements spawned the first major real estate boom in Vancouver in 1986, many experts believe that the exact same thing is going to happen with the 2010 games, but on a much larger scale. Combine this with poll after poll showing the quality of living in Vancouver is consistently in the top three in the world, and the fact that there are still real estate bargains to be had here when you compare it to other world class cities like San Francisco and New York, and you have one of the hottest real estate investment markets anywhere in the world.

[zoog]

Re: Another Article Confirming Great Things

The short answer is that there might not be a ceiling at all, at least for another 5-10 years.

Vancouver was picked as the host for the 2010 Winter Olympics, and real estate investors are watching this date very closely. Much like the massive clean up and infrastructure improvements spawned the first major real estate boom in Vancouver in 1986, many experts believe that the exact same thing is going to happen with the 2010 games, but on a much larger scale.

Los Angeles hosted the Olympics in 1984. Five years later, their housing market started to crash, eventually down 20% or more.

Life moves a little slower out here in the Pacific Northwest. Portland and Seattle were late to get caught up in the US housing bubble, we'll probably be the last major bubble cities to start freefalling. Vancouver BC is just trailing further behind. The Olympic buzz will hold prices up for a while, but not indefinitely. Enjoy it while it lasts.

Given the time-frame, it's possible that US (or Canadian) speculators could buy in now and sell at profit before a downturn. Personally, I don't like the risk/return ratio.

[Andreuccio]

Re: Another Article Confirming Great Things

Los Angeles hosted the Olympics in 1984. Five years later, their housing market started to crash, eventually down 20% or more.

It was more like eight years later. I remember because I managed to buy in early 1992, right at the peak.

There were a few things that contributed to the market downturn. Part of it, to be sure, was the economy, which had been down around the country, but not in California until the early '90s. That finally caught up with us at about the same time as the riots in April of '92. Then in January of '94 we had the Northridge Earthquake. You couldn't give away property in the Valley for a few years after that, and the rest of L.A. went down along with it.

I bought the property next door to me, in foreclosure, for about 65% of what I had paid for my house. That went well for me, too, since I was able to give it to my ex wife as part of our divorce settlement. (We had, by then, sold the first house.) Watching it go up to about 6 times what we had paid for it gave me a warm fuzzy feeling inside.

This news about Vancouver, (and Pheonix), has me excited. Perhaps I can replicate my successes there. Trying to buy at the top of the market here in L.A. is just out of my reach now. Hell, you can't get a tear-down lot in the ghetto for under $400,000. But maybe the top will be more accessible in Vancouver.