MLS numbers update courtesy of the VREB via Marko Juras. These numbers are for the Victoria Real Estate Board's reporting area, including Sooke, Shawnigan Lake and the Gulf Islands.
| May 2013 | May 2012 | ||||
| Wk 1 | Wk 2 | Wk 3 | Wk 4 | ||
| Uncond. Sales | 96 |
235
| 367 |
659
| |
| New Listings | 277 | 584 | 916 |
1740
| |
| Active Listings | 4568 | 4642 | 4724 |
5015
| |
| Sales to New Listings |
35%
| 40% | 40% |
38%
| |
| Sales Projection | --- | 600 | 602 | ||
| Months of Inventory |
7.6
| ||||
We won't hit last year's sales but listings are down to match, Looks like MOI will be lower than last year again.
213 comments:
«Oldest ‹Older 201 – 213 of 213Savings rate slump
from the video above:
"some estimates say that a 1 percent rate hike could put one and half million Canadians in default situations"
...
"It's not realistic for people to think that interest rates are going to stay this low for an excessive amount of time"
Well, that is your interpretation. Mine is different. Difference of opinion.
This is back to the old argument we always have.
Factor your personal bias out of the equation for a moment.
1. Fact: A house costs significant resources to maintain. Those resources are time and money.
2. Different people enjoy different things, and hence the value of the time varies by individual. This doesn't change the total sum of resources that are required.
Whether you personally enjoy the time does not matter in this argument because that is completely individual. The discussion is about how much home maintenance costs, not how much home maintenance costs for totoro.
It's useful to note that you can save lots of money by doing a bunch of work yourself, but not accounting for the time means it doesn't reflect the resources that are actually required.
By the way this is precisely the same argument we had about suites and that went exactly nowhere as well.
Or Ernie - are you the kind of person that would kick a kitty through a fan.
Just Jack, these words say something about you, too.
Canada’s housing slump only just beginning: Capital Economics
I stole the line from the TV series Frasier.
Look who just joined the craigslist club. I wonder how many houses that can't sell will try get rented out. I wonder what this will do to the vacancy rate.
13033109
$1400 / 2br - Beautiful One Acre Parcel In Metchosin (Metchosin)
Well Ernie, you've done pretty good for yourself. Your home has almost doubled in the last dozen years.
Yah we're doing Ok I guess. Ok being the key word.
That's a lot of equity in one asset. If this is what makes you happy in life - you should be estatic.
We have decent equity at the moment. It was definitely the right choice for us. For me personally, I'm happy owning over renting at this point in time.
it really sounds that you define yourself by what you possess.
It does does it? I've never mentioned any details on my investment up until now. I was addressing the the context of another poster’s post toward me. Thanks for chiming in though.
I also sense a feeling of inadequacy in your posts.
You do do you? As opposed to the continuous applied sarcasm aimed at home owners and their investments? Look, if we're making an attempt at psycho-analysis I would suggest your point is a case of pure reflection.
A well-adjusted person would not need to flaunt their wealth over the "have nots" unless their is something lacking in their lives. Ernie, you have to ask yourself - am I a better person for doing this?
I offered some insight into my purchase after another sarcastic comment by Koozdra. Am I wealthy? Hardly.
Or Ernie - are you the kind of person that would kick a kitty through a fan.
Your long winded diatribe and sarcastic messages tell the tale of a bitter person. How's that sound?
BTW, I love cats, dogs too :)
"OSFI “has been over there doing some stress testing, and we’re going to continue monitoring CMHC very closely,” he said."
Flaherty Says Doesn’t See a Bubble in Canadian Housing Market
It isn't all that bad, Ernie.
At least you've come to hear an alternative view. You will likely never accept it, but at least you will have been better informed than most of your friends.
Contrary to a few posters, this blog has brought out a lot of events that the media had yet to report.
And there's a lot more to come. I suspect with all of the tightening up at CMHC they're bleeding red ink by the bucket loads. But we all should realize by now that the days of CMHC insurance are numbered as the government takes more steps to distance themselves from a Canadian style Fannie Mae melt down.
And with the future of Canadian high ratio financing firmly in the hands of our American cousins. The next generation may chose to save up more money over a longer period of time before they buy a home than pay much higher premiums for financing. Maybe not buying their first home until they're well into their 30's or early 40's.
You see Ernie, Canadians are different from Americans. We put too much trust in our politicians and we stay too long at the pig trough. Our market is overbuilt and overpriced.
well...
as is true for us all, life is time limited.. you need to not have too much stress and enjoy what you have with the people you love.
enjoy what you have is key: rented, owned, new build, heritage, sooke, victoria... who cares.
sometimes i think this forum is too much head and not enough heart.
Thanks for writing such a great blog. Do you provide such updates on the weekly basis? If yes please let me know the date for your next post. As I am interest in buying a property in Edmonton.
http://www.edmontonpropertypros.ca/edmonton-real-estate/condos-for-sale-in-edmonton/
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