writing on the wall

What does it take for Vancouverites to read the writing on the wall, 2018 home prices started to fall, it will be worse in 2019-2020 with plummeting prices, China having serious problems, Europe is at the beginning of a turmoil, America's economy does not look good, home owners in Vancouver desperately trying to sell there over-valued homes to save what ever equity they have left, interest rates rising, not every one in Vancouver purchased there home for cash, most hold mortgages, and yet Vancouverites believe there is an invisible shield protecting them with the attitude this cant happen to us we are safe in Vancouver, they could not be so wrong, home prices will collapse, how many times have I seen this already, London, San Francisco, Paris, Hong Kong, home owners in these areas trying to sell there homes, it is amazing how many homes are for sale in France, Vancouver, California, England, and Hong Kong, all trying to save there equity, every day from Italy, France, Portugal, Spain, London, Malta, Cypress, Greece, nothing from Australia yet, I am being offered Mansions, Castles, Waterfront homes in such places a St, Tropez, Cannes, even Hawaii, even converted Churches, people trying to sell to put there money in a more considered safe investment, so read the writing on the wall and understand what it means.

13 Comments

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This is...

Nov 12, 2018 at 4:53pm

... only bad news for people who are over-leveraged. And it's unlikely that a $2 million detached home drops to, say, $500k any time soon, if ever again.

If you own your property, if it goes down, well, that means everything else goes down too, so you can get into the market, and, if it swings up again, then you can make some money.

17 6Rating: +11

I can’t take it

Nov 12, 2018 at 5:46pm

I never do this but seriously, I have to. The word is THEIR! As for the rest of it, for all of those people who are suffering from the insane price of housing in this area, it’s all good news. I’m sorry for anyone who has to sell because of circumstances, but if a major correction happens, lots of people will be better off. Give and take and all that.

Anonymous

Nov 12, 2018 at 5:51pm

The mainland Chinese may flee their country driving up housing prices. The Chinese economic decline is well overdue.

10 8Rating: +2

High roller?

Nov 12, 2018 at 6:27pm

" I am being offered Mansions, Castles, Waterfront homes in such places a St, Tropez, Cannes"

yeah right,sure you are...

28 6Rating: +22

prices

Nov 12, 2018 at 8:15pm

It might go down a bit, then it will go right back up.

People have been forecasting doom and gloom in the lower mainland housing market for 30 years or more, and other than a few minor dips here and there, it hasn't materialized.

It's a desirable place to live and it's drawing a lot of immigration.

That

Nov 12, 2018 at 8:38pm

was a long sentence.

8 14Rating: -6

The Writing is on the wall but they can't read.

Nov 12, 2018 at 8:51pm

Complacency is Canada's national pastime, compound that with the fact that Vancouverites are a bit delusional about the cities place in the world and think housing prices should be comparable to the great cities of the world.

15 8Rating: +7

Always someone predicting the end...

Nov 12, 2018 at 9:32pm

..of civilization as we know it.

11 9Rating: +2

It means...

Nov 13, 2018 at 1:12am

the greedy fucks will get what they deserve.

SammyDavisSr

Nov 13, 2018 at 8:10am

Who gives a fuck dude...if housing crashes the whole economy is going with it so that means zero interest rates and mortgages cheaper than rent...worry about your own pathetic life and spare the rest of us your financial insights.

15 9Rating: +6

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