tag:blogger.com,1999:blog-7588496932754350322.post8662712864840789745..comments2023-09-10T03:39:48.166-07:00Comments on Alberta Bubble: View from OttawaUnknownnoreply@blogger.comBlogger209125tag:blogger.com,1999:blog-7588496932754350322.post-29736502556135759232007-12-04T12:12:00.000-08:002007-12-04T12:12:00.000-08:00LATEST HEADLINESBank of Canada raises fears of eco...LATEST HEADLINES<BR/><BR/>Bank of Canada raises fears of economic slide, eases interest rates.<BR/><BR/>C$ tumbles as BoC cuts key rate; stocks move lower ahead of jobs data.<BR/><BR/>Oil prices dip below US$88 a barrel amid uncertainty about OPEC production.<BR/><BR/>Dow Chemical plans to cut 1,000 jobs, or 2.3 pct of work force, in a bid to boost efficiency.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-5922364095857039472007-12-04T11:05:00.000-08:002007-12-04T11:05:00.000-08:00Edmonton economy hottest in Canada...Home prices d...Edmonton economy hottest in Canada...<BR/><BR/>Home prices down in November<BR/>6.5-per-cent drop from October, but average price still higher than a year ago<BR/><BR/>edmontonjournal.com<BR/>Published: 10:09 am<BR/>EDMONTON - Edmonton home prices dropped an average of 6.5 per cent in November from October.<BR/><BR/>Single-family houses fell 5.3 per cent to $376,267 while condos were down four per cent to $252,277.<BR/><BR/>The volatile mixed category of duplexes and rowhouses plummeted 15.4 per cent to $311,193.<BR/><BR/>The average for all housing forms, $325,060, is still up 15.1 per cent from November 2006.<BR/><BR/>"The current market is very price-sensitive," Carolyn Pratt, president of the Realtors Association of Edmonton, said today. "If property is not priced right for this market, it may languish in the listings."<BR/><BR/>During November, residential inventory dropped to 8,667 properties from 9,577 a month earlier.<BR/><BR/>Pratt predicted that inventory will continue to fall and that prices will rise slowly in the spring.Brenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-34661434386836204592007-12-04T10:25:00.000-08:002007-12-04T10:25:00.000-08:00Patriotz.....Just because my sister's husband is a...Patriotz.....<BR/><BR/>Just because my sister's husband is a liberal....does not make me one. <BR/><BR/>We'll just have to differ on that point I guess. BTYW....I had to laugh at myself wondering what your 5 worded acronym meant....finally figured it out. LOL !!Carioca Canuckhttps://www.blogger.com/profile/13560054096545858201noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-38206904050975301262007-12-04T10:19:00.001-08:002007-12-04T10:19:00.001-08:00Financial Post article regarding investment advice...Financial Post article regarding investment advice for a Calgary couple with a net worth of $2 million:<BR/><BR/>"One option might be to purchase a rental property, which could provide the Comries with a decent return and much-needed diversification, but Matt's worried that the Calgary real estate market has topped out. Bea, for her part, groans at the thought of being a landlord. "You hear about people that make all this money in real estate, but what a hassle." Dishwashers breaking down, disputes with tenants, rent collection - it hardly seems worth it. John Amonson, another Calgary-based planner, agrees with Doherty that buying a rental property is probably not the best way to go."<BR/><BR/>http://tinyurl.com/2v2kgeRadley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-73486941182544644192007-12-04T10:19:00.000-08:002007-12-04T10:19:00.000-08:00This comment has been removed by the author.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-10439255111612872007-12-04T08:28:00.000-08:002007-12-04T08:28:00.000-08:00Actually, I should also mention Walmart as a giant...Actually, I should also mention Walmart as a giant force for productivity.<BR/><BR/>And, you could probably explain at least part of the price differential in housing between Canada and the US on their endless supply of cheap Mexican construction labour.dvrvdhttps://www.blogger.com/profile/01751555293045476464noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-80586829549616743092007-12-04T08:23:00.000-08:002007-12-04T08:23:00.000-08:00I guess you have to be down here to appreciate the...<I>I guess you have to be down here to appreciate the relevance, there's more illegal Mexicans in the U.S. then Canada has total population. LOL</I><BR/><BR/>Not true, actually. There are 12 million illegal immigrants in the US (although some partisan estimates say there are 15 million). The population of Canada is over 30 million.<BR/><BR/>http://tinyurl.com/2r6mgc<BR/><BR/>Most of the gains in productivitiy in the US over the past 15 years can be attributed to cheap Mexican labour, IMO. Whether that's a good thing or not, is another debate...dvrvdhttps://www.blogger.com/profile/01751555293045476464noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-30821519407315140152007-12-04T08:03:00.000-08:002007-12-04T08:03:00.000-08:00This comment has been removed by the author.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-82253271458457513992007-12-04T08:01:00.001-08:002007-12-04T08:01:00.001-08:00The real estate market was healthier in November 2...The real estate market was healthier in November 2006 compared to November 2007.<BR/><BR/>November 2006<BR/>1397*$408,696 = $571 million<BR/>November 2007<BR/>1103*$462,134 = $510 million<BR/><BR/>Drop of $61 million (11%) in sales volume<BR/><BR/>Lower sales volumes show weakness in the real estate market and a lack of buyer's. The relatively higher inventory is a reflection of weakness in the real estate market. Lower price points are still necessary to get the inventory moving.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-26383896509643165282007-12-04T08:01:00.000-08:002007-12-04T08:01:00.000-08:00This comment has been removed by the author.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-45652796291834154712007-12-04T07:58:00.000-08:002007-12-04T07:58:00.000-08:00This comment has been removed by the author.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-61679069891251536682007-12-03T23:30:00.000-08:002007-12-03T23:30:00.000-08:00Big business and oil companies are anathema to lib...<I>Big business and oil companies are anathema to liberals.</I><BR/><BR/>Oh GMAFB. Granted the Liberals are not too popular with the oil industry, but big business in general? You think Paul Martin was a union organizer or something? Jean Chretien's daughter married into the Desmarais family, and he serves on many corporate boards.<BR/><BR/>And BTW I thought the Cons made themselves a bit unpopular with the oil patch with their tax changes on income trusts.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-71972111653913296892007-12-03T17:53:00.000-08:002007-12-03T17:53:00.000-08:00I'm going to find another blog where everyone can ...<I>I'm going to find another blog where everyone can disagree but at least post REAL stats, RELEVANT stats</I><BR/><BR/>if you find the perfect blog, don't post anything, 'cuz you will thereby ......<BR/><BR/>why not stay here? we're not really so bad, even if we're stupid sometimes ...beam me up scottyhttps://www.blogger.com/profile/02413025152172425116noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-86850921586068804802007-12-03T17:01:00.000-08:002007-12-03T17:01:00.000-08:00To funny...A big hurricane hits Mexico with floods...To funny...<BR/><BR/>A big hurricane hits Mexico with floods and mud slides. <BR/>Two million Mexicans are feared dead and over a million are injured. <BR/><BR/>The country is totally ruined and the government doesn't know where to start and is asking for help to rebuild. The rest of the world is in shock. <BR/><BR/>Canada is sending troopers to help the Mexican army control the riots. <BR/><BR/>Saudi Arabia is sending oil. <BR/><BR/>Other Latin American countries are sending supplies. <BR/><BR/>The European community (except France) is sending food and money. <BR/><BR/>The United States, not to be outdone, is sending two million Mexicans to replace the dead <BR/>ones. <BR/><BR/>God bless America! <BR/><BR/>I guess you have to be down here to appreciate the relevance, there's more illegal Mexicans in the U.S. then Canada has total population. LOLBrenthttps://www.blogger.com/profile/11692519299223098252noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-55750214119853229822007-12-03T15:54:00.000-08:002007-12-03T15:54:00.000-08:00I have read that 50% of the mortages that are deli...I have read that 50% of the mortages that are delinquent in the States are investor-related (and will be unavailable to any sort of government bailout).<BR/><BR/>Source: money.cnn.com http://tinyurl.com/2tmk84<BR/>----------------------------------<BR/>This really nails home the point that people should have been buying real estate based on rental incomes instead of speculative house appreciation.<BR/>----------------------------------<BR/>Here is the investment strategy straight from the words of the realtor, Jared Chamberlain (originally posted at http://findcalgary.blogspot.com/):<BR/><BR/>Jared Chamberlain said... <BR/>"Ideally, the landlord should make more payments, "double-up", when possible to pay the mortgage off faster. "<BR/><BR/>As an investor myself, I would want to take my cash flow and put it towards the mortgage... The idea is to have your investments leveraged with mortgages, so that you personally don't have a mortgage on your personal property and can use the cash flow for your passive income. My goal isn't to pay off the mortgage, but to re-mortgage my properties, within reason, to purchase more. So then I now have two properties appreciating instead of one...<BR/><BR/>Regards,<BR/>Jared"Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-13455095700215211782007-12-03T15:34:00.000-08:002007-12-03T15:34:00.000-08:00My post above refers to Edmonton by the way.My post above refers to Edmonton by the way.Anonymoushttps://www.blogger.com/profile/10587126795346742684noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-55996378073939088952007-12-03T15:33:00.000-08:002007-12-03T15:33:00.000-08:00Hello fellow bears,I am a long time inventory watc...Hello fellow bears,<BR/><BR/>I am a long time inventory watcher and it looks like the "Spring" shoot up in inventory is starting again. I am surprised that the beginning of Dec was not as prone to huge falls in inventory like has happened Sept, Oct, Nov....inventory already at 9200 again.Anonymoushttps://www.blogger.com/profile/10587126795346742684noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-74709282956443685272007-12-03T15:16:00.000-08:002007-12-03T15:16:00.000-08:00See Mario's story ad verbatim here (before he 'wri...See Mario's story ad verbatim here (before he 'writes' it) regarding November CREB stats:<BR/><BR/>http://tinyurl.com/3cp238<BR/><BR/>Watch for the words 'typical seasonal slow down.'<BR/><BR/>21% decrease YoY from Nov. '06 in sales<BR/><BR/>40% increase YoY from Nov. '07 in new listings<BR/><BR/>I have a better answer regarding decrease in sales (lack of affordability) and increase in new listings (increased speculation in the market).<BR/><BR/>I would think that 21% and 40% are statistically significant, not the 'typical seasonal slow down' as CREB would like you to think.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-67654499793381219432007-12-03T11:54:00.000-08:002007-12-03T11:54:00.000-08:00By April 2008, the bulls will start reporting stat...By April 2008, the bulls will start reporting stats as decade over decade (DoD).Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-46469483404857256962007-12-03T11:36:00.000-08:002007-12-03T11:36:00.000-08:00Bearclaw, Carioca - wtf do you get your stats from...<I>Bearclaw, Carioca - wtf do you get your stats from?<BR/><BR/>Edmonton YTD Stats (September)<BR/>2007 Sales: 17,188<BR/>2006 Sales: 17,446<BR/>2005 Sales: 14,948<BR/><BR/>Source: EREB<BR/><BR/>I'm all for being realistic in this bear market, but not when all the other posters are complete idiots.</I><BR/>__________________________________<BR/><BR/>even keel,<BR/><BR/>The numbers i posted are from the Edmonton Real Estate Board's monthly reports. Below are the links to each report and the stat i quoted from ealier. Granted I am comparing total sales in a single month to the same month from the previous year - not year to date totals. <BR/><BR/>The yearly stats combine the best sales in Edmonton history in spring to sales at 8-year lows in September. <BR/><BR/><A HREF="http://www.ereb.com/marketactivity/October2007.html" REL="nofollow"> Oct 2007 </A><BR/><BR/>Residential sales this month 1,276 -32.50% <BR/><BR/><A HREF="http://www.ereb.com/marketactivity/September2007.html" REL="nofollow">Sept 2007</A><BR/><BR/>Residential sales this month 1,042 - 43.50%BearClawhttps://www.blogger.com/profile/15714953167582532109noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-87465562164640681442007-12-03T11:23:00.000-08:002007-12-03T11:23:00.000-08:00I said you had a point and posted the old criteria...I said you had a point and posted the old criteria numbers for comparison. <BR/><BR/>As was the old criteria average price posted.....which is $51K UNDER the new criteria average price.....which is now being touted as a comeback by "Mario the shill" in the Calgary Herald.<BR/><BR/>Take your pick. You cannot have both.Carioca Canuckhttps://www.blogger.com/profile/13560054096545858201noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-85348975904439312212007-12-03T11:03:00.000-08:002007-12-03T11:03:00.000-08:00Omg. I shake my head at the idiocy. Now it's cre...Omg. I shake my head at the idiocy. Now it's creb's fault you don't know how to read stats?<BR/><BR/>Look at the the TOTAL MLS if you want. It's barely any different yoy.<BR/><BR/>I've passed the frustration stage and now have entered mild pity and amusement at your mentality.<BR/><BR/>I'm going to find another blog where everyone can disagree but at least post REAL stats, RELEVANT stats, and don't try comparing sales of SFH homes sold in 2007 with all SFH, Condo, mobile, and acreages sold in 2006...<BR/><BR/>Have a safe and happy winter everyone.Userhttps://www.blogger.com/profile/00143275025091977114noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-85288448381413396682007-12-03T10:53:00.001-08:002007-12-03T10:53:00.001-08:00Jobhunter: Only that the median and averages are u...Jobhunter: <BR/><BR/>Only that the median and averages are up almost $200k from 2004.<BR/><BR/>I would expect there to be a downturn in sales as affordability has eroded a lot.Userhttps://www.blogger.com/profile/00143275025091977114noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-61206753800983317262007-12-03T10:53:00.000-08:002007-12-03T10:53:00.000-08:00This comment has been removed by the author.Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-7588496932754350322.post-84636185898969544212007-12-03T10:51:00.000-08:002007-12-03T10:51:00.000-08:00And it is my fault that CREB changed the manner of...And it is my fault that CREB changed the manner of calculation of the stats ? <BR/><BR/>You cannot pick and choose which stats you want to use......but I will, just to prove a point......<BR/><BR/>1,876 sales were recorded in November 2007 under the old critera.....a drop of 436 sales or a decline of 19%. Not 50%....so you have a point.<BR/><BR/>However....the average price under the old criteria was $410K....not $461 as CREB wants you to believe under the new criteria.<BR/><BR/>http://www.bobtruman.com/Old_Criteria/page_1510919.html<BR/><BR/>Who has the ulterior motive ? not I........chose which you wish to debate. ROTFLMAO......!!!!Carioca Canuckhttps://www.blogger.com/profile/13560054096545858201noreply@blogger.com