Victoria, BC real estate blog - "because we never know when interest rates will be increased to stimulate the economy" ~ VREB
Your welcome HHV, and thanks for making a great blog with subjects that inspire you to want to post,same to PB too. As per the Hot Sheet,at least another 100 new listings this morning,would sure love to see the sales.
Add another 50 mininum since noon. Something tells me the winds of change are here. 10 and 30 year yields were up again today and the markets didn't like it. Provincial finance ministers meeting this week to convince Dodge to not raise the rates,guess they want this bubble to continue forever,sounds like he isn't going to budge. Thank God we have someone like Dodge here to instill some sanity,too bad he's gone too soon.
Is it me, or is May not supposed to be the listings peak? This may be a new trend, or a bit of we're at the top, let's see what we can get testing going on?
I am stunned,refreshed the listings from an hour ago and a whole new page which means another 50 at least which means we are into a 200 listing day at the least,has to be a record since I have been tracking it. Anyone else seeing the same cause I am writing down the bottom few so I make no mistakes and they arent even on the page when I refresh. Has to be a record listing day which means only one thing to me,panic selling time.
hhv, Has to be the interest rate effect,gotta wonder what some agent are telling their clients in order to increase sales ? Feast or famine as they say and this could be the last chow down for the agents for awhile.
Like I speculated elsewhere, people with lower pre-approvals will be looking to buy quickly, if they were planning on buying anyway.People facing rate re-sets will be thinking about selling.Flippers, I expect them to be trampling toward the exits, long before the MSM announces it is going on....
Hey, CH just had a segment where CHMC has an awesome solution to all the housing problems,it's called "creative financing", 40 year mrotgages and family helping you out too ! what a concept man ! .....what a pile of crap. No mention of the word "correction",no interest rate talk,no calculations,just a pure pump job to keep those suckers buying those 600 sq ft boxes in the sky.
Mind boggling, another 50 just went thru from half an hour ago,thats now the 250 range min.
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