Prices Jump $200,000 to 6 million in Hours

[GRG55]

Re: Prices Jump $200,000 to 6 million in Hours

more bubble news on the radio today - Toronto breaks all records for condo construction.

twice the number of condos came online in Toronto (pop 2 to 4 million, depending where you draw the border) than in NY (pop 13 million?)

It's incredibly surprising because Toronto had a price collapse in 1991, which left people holding $300,000 mortgages on condos (with identical units selling for $189,000 down the hall)

memories can be so short.

PS -
I'm hoping to get a room near the University off Craiglist for $500 a month, a 10 minute walk from that recent $6 million unit

Apparently memories in Vancouver are even shorter. Its last condo bust started in 1995.

And FRED, I vote to keep Vancouvergoinup. It's the cheapest amusement around, except for maybe the odd conspiracy theorist. Full disclosure: Vancouver is my home town, so I am biased in this view no doubt. ;)

[Guest]

Re: Prices Jump $200,000 to 6 million in Hours

Vancouvergoinup is really a visionary guy, except we refuse to see it.

He's actually sort of like Moses, trying to lead us to the promised land where the streets are paved with cobblestones made of pure gold, and honey flows from the public faucets.

He's patient and kind hearted, while we are in reality a flock of very dumb sheep, who refuse to have the wool pulled away from our eyes (or was it the wool pulled onto the scales? Or the scales pulled into the top-hat, to then reappear as golden cobblestones disguised as wooly sheep? I forget. :confused: ) so that we might see, that if we only all pile into Vancouver like Vancouvergoinup keeps telling us to do, we'll be delivered from our depressing and increasingly wretched circumstances here in the America, (which in case you didn't know it is now the mange capital of the world).

[Andreuccio]

Re: Prices Jump $200,000 to 6 million in Hours

Good idea!

LOL. I guess I should be grateful you haven't given me my Delta Tau Chi name. God knows what you'd come up with for me.

[Milton Kuo]

Re: Prices Jump $200,000 to 6 million in Hours

Metalman you still don't get it.That's why your sitting at Starbucks with free wireless internet trying to figure out how you missed out on the Vancouver Boom. Americans DON'T drive Vancouver Real Estate - Asia DOES. I'm talking about people who have real wealth not borrowed money.

Americans buying today get rock bottom real estate prices coupled with buying dollars converted to CA which will increase in value while the US dollar plummets. I can tell by your attitude you are a very bitter bitter person but by buying in Vancouver you can obtain the "Peace that passeth all Understanding"

VancouverGoinUp: I'm surprised you haven't whipped out this one yet so allow me do it for you.

It's a new paradigm and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches as their property will continue its 30% yearly price increase. Renters and anybody born in a future generation will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities and Hondas.

This asset bubble is different than all of the others - it will never slow down or pop. The gains are permanent.

[bart]

Re: Prices Jump $200,000 to 6 million in Hours

We filter literally dozens of such spammers out of forums daily. On rare occasion one makes it through our process.

We had a poll on VancouverGoinUp and the majority of iTulipers voted that we keep him or her for entertainment purposes. Obviously, porn and other offensive spam would not be considered for this, and housing is relevant. VancouverGoinUp has since then evolved into a popular inside joke and has even contributed a new construct to express the desperate optimism of the invested: DollarGoinUp! USEconomyGoinUp! No doubt after Vancouver real estate goes down we won't be hearing much from VancouverGoinUp anymore, so we enjoy the fun while we can.

I think there ought to be an Honorary Tulip Award for delightful folk like GoinUp... perhaps even membership in a (dim)Bulbs club?

The Fickle Finger of Fate & Folderol award also comes to mind... :eek: ;)

[touchring]

Re: Prices Jump $200,000 to 6 million in Hours

Apparently memories in Vancouver are even shorter. Its last condo bust started in 1995.

And FRED, I vote to keep Vancouvergoinup. It's the cheapest amusement around, except for maybe the odd conspiracy theorist. Full disclosure: Vancouver is my home town, so I am biased in this view no doubt. ;)

What is incredible is that the Asian real estate markets are cooling rapidly since October, while Canada is still bullish. They might be the last bull to stand.

[Spartacus]

Re: Prices Jump $200,000 to 6 million in Hours

Hold on a minute ...

I thought the bulk of the Honk Kong money was just starting to come into Vancouver in 1995, a couple of years before China took possession.

You're saying all the HK money went into housing while condos crashed?

Apparently memories in Vancouver are even shorter. Its last condo bust started in 1995.

And FRED, I vote to keep Vancouvergoinup. It's the cheapest amusement around, except for maybe the odd conspiracy theorist. Full disclosure: Vancouver is my home town, so I am biased in this view no doubt. ;)

[Spartacus]

Re: Prices Jump $200,000 to 6 million in Hours

we don't have that type of bull. I don't think we have any bison anymore, either

Moose, caribou and deer

What is incredible is that the Asian real estate markets are cooling rapidly since October, while Canada is still bullish. They might be the last bull to stand.

[Rajiv]

Re: Prices Jump $200,000 to 6 million in Hours

A counterpoint to VGUs continuous optimism on Vancouver real estate

Everywhere you look in Vancouver, there are cranes and scaffolding - signs of a city in the midst of a massive renovation.

The problem is, residents of single family homes and rental apartments are being pushed out as the new crop of condos springs up.

Alicia Barsallo lives in a part of the city now designated as Norquay Village. She says Mayor Sam Sullivan's eco-density vision is all about density and nothing about eco.

[MEDIA]http://www.rabble.ca/rpn/files/rey/rey-2007-11-07.mp3[/MEDIA]

[GRG55]

Re: Prices Jump $200,000 to 6 million in Hours

Hold on a minute ...

I thought the bulk of the Honk Kong money was just starting to come into Vancouver in 1995, a couple of years before China took possession.

You're saying all the HK money went into housing while condos crashed?

The money came. But true to form, the high rise condo developers got waaaaay ahead of any possible real demand, flung up tower after tower, and even sold quite a few off plan as investments to Hong Kong interests. By the winter of 1995/96 there were completely empty towers with not a single light on at night. Some sold to non-residents as "investments" and many unsold in a liquidating market. Turned out to be a fabulous time to pick up a property at a serious discount for patient money. It'll happen again. And it won't take 50 years as we all know (well, most of us know).

[Guest]

Re: Prices Jump $200,000 to 6 million in Hours

I think Vancouvergoinup needs a new Avatar. The SMEAGLE / GOLLUM avatar is just meanspirited and unkind, and attempts to strip elementary dignity from him. We are not reflected as good sports by doing that.

I suggest he gets a 'MOSES' avatar, and it's understood, it's granted in irony.

Imagine Vancouvergoinup as the Moses, with a long white beard, leading the flock of (unbelieving and vocally sarcastic) sheep, who refuse to have the wool pulled from their eyes - and who sadly, have no real-estate in their portfolios - leading them to the promised place of soaring gilded condo's with their roofs in the clouds (like the land of OZ), and streets paved in gold, or something pleasant and fanciful to that effect.

FRED, we therefore beg an "indulgence" or "dispensation" from the HOLY I-TULIP PAPACY so that this poor poster can get a buffed out new Moses Avatar.

[jimmygu3]

Re: Prices Jump $200,000 to 6 million in Hours

The quality that endears VGU to me is his smiling optimism. For his avatar, I propose this photo of '70s magician Doug Henning sitting on a rainbow.

[Spartacus]

Re: Prices Jump $200,000 to 6 million in Hours

As good a pick as Gollum - Henning is quite appropos here for his part in fostering delusions (not illusions)

Henning was one of the biggest pushers (towards the end) of Transcendental Meditation and the Maharishi's embrace of the "hundredth monkey" effect.

http://en.wikipedia.org/wiki/Hundredth_Monkey_Effect

Note especially the section labeled "The Effect Discredited" (much of it wasn't the hundredth monkey, it was one smart female named Washoe, who had a habit of swimming to neighboring islands - but she's not specifically named on the Wiki page)

(my mistake -Washoe was not the genius swimming female, - W was one of the monkeys that were taught sign language. I read the original articles the wiki refers to about the hundreth monkey debunking but I mixed up the names of the chimps and Japanese Maqaques involved in different experiments )

Washoe's swimming was responsible for the part where it says "this previously learned behaviour instantly spread across the water to monkeys on nearby islands". No, not quite instantaneous- more like "at the speed of a swimming monkey"

The quality that endears VGU to me is his smiling optimism. For his avatar, I propose this photo of '70s magician Doug Henning sitting on a rainbow.

[Spartacus]

Re: Prices Jump $200,000 to 6 million in Hours

I did NOT mean it in a bad way at all, and I should have noted it's easy to read negativity into it.

Gollum was never malicious in the book (have not read it for 20 or 25 years so I could be wrong).

I think Vancouvergoinup needs a new Avatar. The SMEAGLE / GOLLUM avatar is just meanspirited and unkind, and attempts to strip elementary dignity from him. We are not reflected as good sports by doing that.

I suggest he gets a 'MOSES' avatar, and it's understood, it's granted in irony.

Imagine Vancouvergoinup as the Moses, with a long white beard, leading the flock of (unbelieving and vocally sarcastic) sheep, who refuse to have the wool pulled from their eyes - and who sadly, have no real-estate in their portfolios - leading them to the promised place of soaring gilded condo's with their roofs in the clouds (like the land of OZ), and streets paved in gold, or something pleasant and fanciful to that effect.

FRED, we therefore beg an "indulgence" or "dispensation" from the HOLY I-TULIP PAPACY so that this poor poster can get a buffed out new Moses Avatar.