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Many Metro Vancouver homes selling for a loss
Dozens of homes in Metro Vancouver bought in the last two years are currently listed to be sold for a loss as speculators appear to exit Canada’s hottest real estate market. An industry insider sent ThinkPol sales data for single family houses in the Lower Mainland showing roughly 40 properties that are currently listed for prices lower than what the sellers originally paid for them. As the property purchases were made within the last two years, ThinkPol was able to validate this data using information published by BC Assessment.
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According to the data we received from the industry insider, the homes being sold for a loss were mainly in Richmond, Burnaby, West Vancouver, North Vancouver, Coquitlam, Port Coquitlam and East Vancouver. The whistleblower believes that speculators are expecting a significant correction in 2018, and are willing to even take a nearly 25% hit to exit the falling market.

“The talk in town is that the NDP government is going to introduce a speculation tax in next year’s budget,” they told ThinkPol. “[Metro Vancouver’s] real estate prices are driven purely by speculation and reflect very little of the market fundamentals.” “The fact that these people are willing to take an almost 25% hit means that they expect the correction to be even greater,” they added. “As smart money cuts their losses and run, many others will gladly line up to catch falling knives.”

The insider also feels that news outlets are being coerced by the real estate industry to refrain from reporting on the market slowdown. “The DJs have left, the music has stopped, but the industry wants to keep the party going,” they said. “The industry will stop at nothing to hide the fact that housing has crashed in Metro Vancouver. They will use all means necessary to silence anyone who gets in their way.”

Marmot писал(а):Киатйцы начали выводить свои денежки в биткоины, они быстрее растут, чем недвига в Ванкувере...

Marmot писал(а):Киатйцы начали выводить свои денежки в биткоины, они быстрее растут, чем недвига в Ванкувере...

Meadie писал(а):

Marmot писал(а):Киатйцы начали выводить свои денежки в биткоины, они быстрее растут, чем недвига в Ванкувере...

Те, кто биткойны покупают - берут деньги с кредитных карт и линий, включая хелоки.
Продать дом в Б.Ванкувере и деньги получить - это может не один месяц занять, а при покупке биткойнов каждый час на счету...

ПС: по данным zolo.ca, например, в З.Ванкувере из 15 выставленных на продажу домов в месяц продается сейчас только один.

LeoV писал(а): Bitcoin -- валюта будущего!

PS Херовое у нас будующее....

Marmot писал(а):

Meadie писал(а):

Marmot писал(а):Киатйцы начали выводить свои денежки в биткоины, они быстрее растут, чем недвига в Ванкувере...

Те, кто биткойны покупают - берут деньги с кредитных карт и линий, включая хелоки.
Продать дом в Б.Ванкувере и деньги получить - это может не один месяц занять, а при покупке биткойнов каждый час на счету...

ПС: по данным zolo.ca, например, в З.Ванкувере из 15 выставленных на продажу домов в месяц продается сейчас только один.

Я имел ввиду, что вместо покупки недвижимости в Ванкувере, китайцы теперь скупают биткоины... поэтому-то дома в ВестВане и не продаются...

Красная Борода писал(а):450 кв ног за более 5 тыс в месяц. Это с обслугой которая стирает-убирает-ублажает???? Там что, золото из крана сыпится????? я фигею.

Earlier this year, the developer paid a $24,000 fine for taking nightly rentals at its building on Seymour Street.

A spokesperson for the project said units there won’t be rented for less than a month at a time — and that’s legal.

Красная Борода писал(а):это ЕСЛИ городские власти не прижмут как уже прижали (или еще нет?) сдающих через airbnb

A real estate industry whistleblower is questioning the reliability of Vancouver real estate statistics released by the realtors board. The insider claimed that Real Estate Board of Greater Vancouver’s unwillingness to subject their statistics to independent scrutiny may be one reason that the board “is sending their lawyers after anyone who gets access to the raw data.” “Just ask them for the raw data and/or independent audit reports,” the source told ThinkPol. “I’m willing to bet the farm that they’ll never do give out that information”
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“We follow rigorous processes, developed over many years, to ensure the accuracy, integrity, and consistency of our statistical reporting” Communications Director Craig Munn told ThinkPol. “If someone is concerned about information in our reports, we’re always open to hearing that feedback and reviewing the information.” Munn recommended that we take a look at MLS Home Price Index (HPI) benchmark prices, saying that “We find that it’s a more accurate indicator of real estate pricing trends over time.”

We were unable to calculate MLS HPI ourselves without raw and intermediate data from REBGV, as it involves a number of manual data “scrubbing” steps[1]. Instead, as a proxy, ThinkPol calculated the ratio of sold prices to assessed value (SPAV) for single family homes in the region using data published by BC Assessment and information provided to us by the industry insider.

One interesting finding we made was that SPAV showed a marked drop in August 2016, the month when the foreign buyer tax came into force, while the MLS HPI did not. Between January 2017 and June 2017, SPAV graph shows the same general trend as the MLS® HPI[2]. After June 2017, however, HPI holds steady while SPAV shows five months of decline.

“I’ve dealt with snake oil salespeople in every profession but none as consistently as the ones in my industry,” the real estate industry insider told ThinkPol. “They thrive on deception and fraud.” “They need to hide the truth from the public to drive the narrative that real estate can only go up,” they added. “Anyone will who tries to educate the masses will immediately receive threats, legal and/or physical, as the industry desperately tries to hide the fact that the party’s over.”

The insider welcomed the decision by the The Federal Court of Appeal to upheld a lower court’s decision ordering Toronto Real Estate Board to make detailed financial information about home sales publicly available[3].

Meadie писал(а):

... the board “is sending their lawyers after anyone who gets access to the raw data.” ...

https://thinkpol.ca/2017/12/13/whistleb ... ate-board/