tag:blogger.com,1999:blog-7588496932754350322.post827278675444153803..comments2023-09-10T03:39:48.166-07:00Comments on Alberta Bubble: March 2007 prices 'reintroduced' in Calgary?Unknownnoreply@blogger.comBlogger51125tag:blogger.com,1999:blog-7588496932754350322.post-34106623634970390882007-11-06T15:44:00.000-08:002007-11-06T15:44:00.000-08:00Another factor with vehicle prices in California a...Another factor with vehicle prices in California at present. Dealers are selling (unloading inventory) at cheaper prices than people who purchased new in the past two years.<BR/><BR/>Seeing same scenario with housing, resale market is up against the builders who are slashing prices to unload spec.homes.sunshinehttps://www.blogger.com/profile/10860907742700989860noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-42589595225071085042007-11-06T15:15:00.000-08:002007-11-06T15:15:00.000-08:00BrentPaper on the weekend had 07 (New) Mustang GT'...Brent<BR/><BR/>Paper on the weekend had 07 (New) Mustang GT's for $21,000. No joke!sunshinehttps://www.blogger.com/profile/10860907742700989860noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-1331137301472242212007-11-05T22:34:00.000-08:002007-11-05T22:34:00.000-08:00New Listings Last 24 hrs: 74Active Listings: 5,359...New Listings Last 24 hrs: 74<BR/>Active Listings: 5,359<BR/>Sold, Last 30 Days: 1,018<BR/>Avg Sale Price, Last 30 Days: $ 450,195<BR/>Median Sale Price, Last 30 Days: $ 408,000 <BR/><BR/>New stats, median prices now at 408K.beartruthbullbeephttps://www.blogger.com/profile/03979471698247524419noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-19910008691812501772007-11-05T21:27:00.000-08:002007-11-05T21:27:00.000-08:00Anybody else watching the meltdown of Citigroup? ...Anybody else watching the meltdown of Citigroup? Is the mortgage meltdown going to be worse than the Nortel and Enron crash? Is it there already? Citigroup has liabilities totalling $2.1 trillion. It's stock price has fallen 26% in the last month alone. The CEO just resigned. Nobody knows how much these companies are worth. $11 billion in writedowns? And it's not even like interest rates are that high yet!Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-40445720464637353992007-11-05T16:56:00.000-08:002007-11-05T16:56:00.000-08:00Looks like more news of tough times ahead for us h...Looks like more news of tough times ahead for us here in Alberta.<BR/><BR/>Juniors foresee bleak future for exploration in Alberta<BR/>Dina O'Meara, Calgary Herald<BR/>Published: Thursday, November 01, 2007<BR/><BR/><A HREF="http://tinyurl.com/2rtjp3" REL="nofollow">http://tinyurl.com/2rtjp3</A>datamagehttps://www.blogger.com/profile/15942864585996875308noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-31112992329364734342007-11-05T15:08:00.000-08:002007-11-05T15:08:00.000-08:00Sunshine, You won't get a new Mustang GT for 20...Sunshine,<BR/><BR/> You won't get a new Mustang GT for 20 G's. I'm back in Florida and I'm seeing used Mustang GT's cheaper here then in Alabama, Mississippi and Tennessee. You can get them in the teens. The big sale down here is on used 350 Z's which are up to 10 G's cheaper not including exchange rates.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-67662895816929422282007-11-05T10:56:00.000-08:002007-11-05T10:56:00.000-08:00BrentIf you purchase a new Toyota Tundra pickup tr...Brent<BR/><BR/>If you purchase a new Toyota Tundra pickup truck in certain dealers now, they are giving away a brand new Suzuki Quad free.<BR/><BR/>2007 Mustangs (NEW) are going for $20,000 in California. Dodge Diesel trucks (tricked out) $31,000, brand new! Again 07's.<BR/><BR/>Houses prices are dropping and dropping in CA. There are 570 homes up for auction due to foreclosure with one auctioneer alone this week. <BR/><BR/>The housing situation in Southern California is by no means close to being over..........sunshinehttps://www.blogger.com/profile/10860907742700989860noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-23984050033754197092007-11-04T17:10:00.000-08:002007-11-04T17:10:00.000-08:00This comment has been removed by the author.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-42403900596152372642007-11-04T16:03:00.000-08:002007-11-04T16:03:00.000-08:00Shocking to see how much high-end inventory is not...Shocking to see how much high-end inventory is not selling. Some developments have over a million dollars in illiquid real estate property. Not only that, but the rest of the building is often up for sale. That makes flippers having to compete with developers for sales. It looks like November 2007 will be the start of the condo correction.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-60358660743985693562007-11-04T15:53:00.000-08:002007-11-04T15:53:00.000-08:00Met with a realtor this weekend, Andrew Kyle. Ver...Met with a realtor this weekend, Andrew Kyle. Very nice guy, very professional. He has a slick website at: www.andrewkyle.com<BR/>You can browse MLS listings by price range and geography (via google maps) rather than the somewhat arbitrarily defined city neighbourhoods.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-9047930462267475782007-11-04T13:30:00.000-08:002007-11-04T13:30:00.000-08:00Another point to add, RE may be local, but RE fina...Another point to add, RE may be local, but RE finance is INTERNATIONAL.<BR/><BR/>Mortgages in US and Canada are funded by the same investors looking for returns. If a US mortgage backed security yields let's say 8%, then Canadian MBS must have a similar yield (adjusted for perceived risk) to get investors to buy them.<BR/><BR/>Most local realtors and pontificators do not even understand that the mortgage market is international in nature, and that tremors in the US mortgage market will have ripple effects in the Canadian mortgage market.<BR/><BR/>Go ask your realtor about what they think about the direction of mortgage backed securities? If they look at you like you're from Mars, then they are not educated enough to make a prediction as to the future RE prices because they have no clue as to how the financing works, which is a huge facilitator in RE demand.RJThttps://www.blogger.com/profile/16895839672897312060noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-31264996435437073192007-11-04T11:58:00.000-08:002007-11-04T11:58:00.000-08:00nightshift, you hit the nail on the head.nightshift, you hit the nail on the head.SummerShifthttps://www.blogger.com/profile/11868935311927013145noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-90827572182006013392007-11-04T11:53:00.000-08:002007-11-04T11:53:00.000-08:00Anonymous just posted this on the other blog. Real...Anonymous just posted this on the other blog. Really good explanation to depict the markets aren't localized:<BR/><BR/>"A couple of people have commented that all real estate is priced locally. Real estate is a function of household income, rental incomes, interest rates and local amenities.<BR/><BR/>Almost every zip code in the United States is experiencing downward real estate prices (except for New York). So what is the underlying fundamental factor that is causing real estate prices to fall on a macro level?<BR/><BR/>An examination of prime interest rates in both our countries reveals that our monetary policy is closely tied together.<BR/><BR/>Low: Canada Prime Rate - September 2004 - 3.75%<BR/><BR/>Now: Canada Prime Rate - November 2007 - 6.25%<BR/><BR/>Low: US Prime Rate - June 2004 - 4.00%<BR/><BR/>Now: US Prime Rate - November 2007 - 7.50%<BR/><BR/>Both of our countries have had artificially low interest rates in mid-2004 and now have seen interest rates close to double since then. To even the casual observer, our interest rates move in tandem with the United States. Long term averages are roughly 7ish%. So, although interest rates are relatively high compared to only a few years ago, they are now in line with the average long term range.<BR/><BR/>So if you accept that real estate prices are a function of interest rates, and that interest rates in the United States and Canada closely follow each other. The conclusion would be that Canada and United States have similar real estate pricing trends.<BR/><BR/>One way to examine the conclusion of this statement is to assume that the stock market is efficient and observe the growth rate of REIT index's in Canada vs. United States.<BR/><BR/>CDN S&P/TSX REIT Sector Index<BR/><BR/>http://finance.google.ca/finance?q=BGIIREIT<BR/><BR/>DOW JONES US REAL ESTATE INDEX<BR/><BR/>http://finance.google.ca/finance?q=INDEXDJX%3A.DJUSRE<BR/><BR/>If Canadian and American real estate were not related, then the Canadian S&P/TSX REIT index should continue to outperform the American counterpart. However, this is not the case and both are down from the peaks earlier this year."SummerShifthttps://www.blogger.com/profile/11868935311927013145noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-63230807219111620842007-11-04T11:37:00.000-08:002007-11-04T11:37:00.000-08:00summershift, you're absolutely correct about peopl...summershift, you're absolutely correct about people with no education pontificating because they paid a few thousand dollars and invested a few months in learning a few rules. the only other thing that burns my ass as much is a candle about 3 feet high.<BR/><BR/>i spent 11 years in school to learn, as i defended my ph.d. thesis, that i don't really understand very much at all. but then again i don't have a (TM) after my Ph.D., in contrast to Realtor(TM) people.<BR/><BR/>i hear much said about how hard a Realtor(TM) works. baloney! let them suffer through years of long hours and frustration from doing a research-based Ph.D. ... then they'll know what work is.<BR/><BR/>regarding your 'btw' on the median price, are you telling me that i was possibly not such a dummy to actually *RENT* when i moved to calgary in august, and that the $18k drop in median and $32k drop in avge house prices in only two months is a *LOT OF $$$$* compared to the $24k/year rent i'm paying, not to mention the fact that i don't pay repairs, maintenance, taxes &c. oops, i forgot --- dagnabit, i'm paying someone else's mortgage .... o i'm such a fool.<BR/><BR/>wait a minute. i'm not the fool. the guy who's carrying all the real and opportunity costs in a down-turning market, just so i can live in a nice 7-year-old home close to downtown, well i wouldn't want to call him a fool, but .... well he's doing something i wouldn't do.nightshifthttps://www.blogger.com/profile/06840819289351130485noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-69473064286908664022007-11-04T11:32:00.000-08:002007-11-04T11:32:00.000-08:00This comment has been removed by the author.SummerShifthttps://www.blogger.com/profile/11868935311927013145noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-59640424543645113752007-11-04T11:05:00.000-08:002007-11-04T11:05:00.000-08:00Yeah, most people aren't educated. Or don't educat...Yeah, most people aren't educated. Or don't educate themselves on the economics of the housing industry etc. <BR/><BR/>Comments from Vulture on the Truman site where he depicts housing markets as "local" is complete lack of education and understanding of the global financial markets. I've talked to so many realtors who feel that way but the extent of their education is high school and the $3000, 3 month realtor course. They obviously don't have the understanding of someone who is more educated.<BR/><BR/>(This is not to say all realtors are uneducated, I have friends who have gone to universities and have multiple degrees who are realtors, etc.)<BR/><BR/>BTW,<BR/>median prices have dropped now to 410KSummerShifthttps://www.blogger.com/profile/11868935311927013145noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-25152426798242397982007-11-04T08:33:00.000-08:002007-11-04T08:33:00.000-08:00Oh great, another one who thinks this province is ...Oh great, another one who thinks this province is driven by oil. It's natural gas people, I don't know how many times it's been mentioned on this blog.Ryanhttps://www.blogger.com/profile/01468981938353862126noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-60765896363901613082007-11-04T01:48:00.000-07:002007-11-04T01:48:00.000-07:00If the liberals came to power, Alberta would suffe...<I>If the liberals came to power, Alberta would suffer severely.</I><BR/><BR/>Well I'll leave predicting the future to others, but I do know that the Alberta economy (and RE) did pretty badly during most of the Mulroney government, but picked up a lot during the Chretien and Martin regimes in the late 90's and 00's.<BR/><BR/>Jeepers, do you think it might have a lot less to do with the government in Ottawa than something like world oil prices? Just maybe.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-8549386782732354412007-11-03T17:02:00.000-07:002007-11-03T17:02:00.000-07:00Edmonton's outstanding inventory according to Real...Edmonton's outstanding inventory according to Realty Executives<BR/><BR/>http://tinyurl.com/32l2x5Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-16958451374091199202007-11-03T14:02:00.000-07:002007-11-03T14:02:00.000-07:00>>> 1800sqft house price was redused on ... 110K 8...>>> 1800sqft house price was redused on ... 110K 8O<BR/> Sorry. It was a mistake :)<BR/> Somebody typed 3xx,xxx instead of 4xx,xxxBigushttps://www.blogger.com/profile/16767256960848604765noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-42919378894956210972007-11-03T09:10:00.000-07:002007-11-03T09:10:00.000-07:00This comment has been removed by the author.commonsensehttps://www.blogger.com/profile/10876341649198419625noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-13712069620497950342007-11-03T08:55:00.000-07:002007-11-03T08:55:00.000-07:00Buried on page C4 in todays Herald is the followin...Buried on page C4 in todays Herald is the following......<BR/><BR/>Talisman cancels a $1 Billion project which was planned announced in August....due to the royalty changes. They are also cutting spending $500 million next year for the same reason.<BR/><BR/>Canadian Natural Resources will cut drilling between 30-50% next year......same reason.<BR/><BR/>Petro-Canada is not cutting it's oil sands involvement.....but expects costs to rise......<BR/><BR/>Imperial hasn't made a decision yet.<BR/><BR/>In 90-180 days you'll perhaps start to see the effects of these cuts. Are more to come ?Carioca Canuckhttps://www.blogger.com/profile/13560054096545858201noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-42012701429427548642007-11-03T07:56:00.000-07:002007-11-03T07:56:00.000-07:00FWIW.....the federal conservatives didn't enjoy a ...FWIW.....the federal conservatives didn't enjoy a poll bounce from the tax cuts if the media is to be believed. <BR/><BR/>It will be a very close election when it happens........and it will eventually. The anti-business Lib's could potentially win if they'd get off their hands. The moment a bill gets defeated we're off to the races again. I hope I am wrong and they lose.....but.....it's another huge risk.<BR/><BR/>Interesting condo tidbit for you all.......we have a project here in Calgary located downtown by the river in Eau Claire. It is called "Waterfront". <BR/><BR/>The project was pumped up in the press because Phase 1 "sold out in one day".......LOL.....yet phase 2, announced but weeks after.......requires these 2 page full size color ads in the Herald.....for weeks on end. It is in todays paper in section A.<BR/><BR/>Funny dat.Carioca Canuckhttps://www.blogger.com/profile/13560054096545858201noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-34255251688147162842007-11-03T07:55:00.000-07:002007-11-03T07:55:00.000-07:00This comment has been removed by the author.commonsensehttps://www.blogger.com/profile/10876341649198419625noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-87455539618689245992007-11-02T23:58:00.000-07:002007-11-02T23:58:00.000-07:00Carioca CanuckHow are you feeling these days about...<I>Carioca Canuck<BR/><BR/>How are you feeling these days about your predictions of a liberal majority government in Ottawa?</I><BR/><BR/>Holy non sequitor Batman. I guess if you called the winner of the Grey Cup and I didn't, you're right about real estate and I'm wrong as well?<BR/><BR/>This kind of baiting was very common on the US blogs a year ago and shows that the bulls are getting very nervous about the reality that is staring them in the face.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.com