Housing Bust 2011

[ghariton]

Seems a bit perverse to hear BoA talk about this...but take heed none the less

http://www.calgaryherald.com/business/r ... story.html

It irritates me to see almost the entire article focus on "the" Canadian market. Our various local markets do not usually move in tandem, and each deserves its own analysis. I guess I see the benefit of a "national" discussion as a starting point. But I think it is misleading to give it so much space.

(I do recognize this was in the Calgary Herald and mentioned a few Calgary-specific numbers. But the bulk of the article was about a mythical "Canadian" home price.)

George

[patriot1]

Our various local markets do not usually move in tandem

Not usually, but they have moved very much in tandem over the last decade. And with markets outside Canada to an unprecedented degree.

Apply Occam's razor to that.

[ghariton]

Our various local markets do not usually move in tandem

Not usually, but they have moved very much in tandem over the last decade. And with markets outside Canada to an unprecedented degree.

Apply Occam's razor to that.

Want to bet that Vancouver is more at risk than Ottawa

George

[Insomniac]

Real estate in Nanaimo is down this year and Victoria is up. 100 KM makes a difference.

Property assessments for BC will be published in January.

[patriot1]

Real estate in Nanaimo is down this year and Victoria is up.

Teranet shows Victoria up 2.05% YTD down .22% YoY (both as of Oct 2011) and essentially flat since 2008::

http://www.housepriceindex.ca/Default.aspx

What numbers do you have and where are they from?

[Insomniac]

Try this for a better picture of BC prices:
https://www.landcor.com/market/housing_price_index.aspx

[patriot1]

There is no description of their methodology. Looking at the graph, it looks like they are using average selling prices, which is a very poor way of indexing the market.

[FinEcon]

https://www.landcor.com/about/recognized.aspx
https://www.landcor.com/about/accurate.aspx

[CROCKD]

Asian investors continue to exert pressure on real estate in western economies.

Asian money pours into city apartments