Saturday, June 16, 2007

Weekend Open Thread...

Wow! The last condo post was the most popular ever penned on this blog and got the maximum responses and discussion. Your input is very welcome-whether you are bull or bear or neutral. Just keep your messages in a civilized tone and avoid personal attacks.

Some ideas for the weekend:
  • Housing market still on a sizzle. Given that they are comparing YoY prices(May 2007 versus May 2006), it will be quite a while before the sizzle disappears. I suspect it will take at least another eight to nine months before we register a first YoY drop. May be more. Of course, I don't have the chutzpah of market forecasters and I have had egg on my face enough times in the past to make a prediction like this, but I guess it's okay to do that once in a while!
  • In the personal anecdote territory, the man on ground-flipper friend of mine-said that there's a 2 bedroom condo available in downtown Edmonton with almost 50k price drop. The reason-the seller is an international student and now for some reason his visa papers have not come through. And he wants to sell in desperation now. What was the business of an international student buying a condo in Edmonton? We'll find out "who was swimming naked when the tide goes down."
  • Looks like we are talked about a lot but never mentioned in some of the realtor circles. It's too bad they won't name the source. Are they afraid of linking to us? Afraid that people will perhaps get a different perspective? To make things more interesting for our visitors and to give them a view from the 'other side', I'll be linking to the blogs of realtors Sheldon and Bob Truman.
  • I guess this is the story of our society circa 2007. Hard work, savings, rational discussion, solid economic fundamentals, economic value are derided upon and banished as 'socialist', whereas 'get easy rich', 'real estate always goes up', '400k mortgages for shoe boxes', 'condo investments' are considered the hallmarks of 'capitalistic' society. Wow!
  • Have a wonderful weekend everyone.
Update: Bob Truman has a post on his blog welcoming users from this site. Thanks Bob! And yes, I did not say that you called the visitors on this site any of those names. I've removed the reference to that negative post entirely. I have heard good things about you from visitors on this and your blog. Your statistics are much appreciated.
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