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 et.al 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.
