Dose

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Posts posted by Dose


  1. Domain admits Clearance rates are Bunk

    28th May, 2018.  

    Here in Sydney you can't keep track of prices now that they are falling bc the agents don't list the passed in price...  often don't post anything.   No results at all.

    People who are investing millions with this information as their main dataset deserve a fleecing.

    Best part is agents who refuse to post data make the situation worse!   What would you do if you needed to sell in that type of environment?  

    -You'd think they'd operate more like a cartel!


  2. Vancouver Province: Fail RE

    Quote

    Premier John Horgan likes to remind people about his Irish roots, something he did again this week when asked if B.C. will ban foreign real-estate purchases.

    “I’m a child of an immigrant — I don’t think that’s the way we should proceed,” Horgan said.

    “British Columbia is the gateway to Canada, and I don’t believe we should be curbing people from coming here.”

    To Green party Leader Andrew Weaver, the comment betrayed a fundamental ignorance of the housing affordability crisis in B.C.

    “I was shocked by that,” Weaver told me Wednesday.

    “The problem is not immigrants coming here to live and work,” Weaver said. “The problem is the people who don’t come to live here. It’s about speculators outside of Canada using our real-estate market to park offshore capital, driving up prices for those who do live here.”

    Idiots.  Same as here...Pollies think sales to foreign money launderers are a good thing.   OK, for who?   

     

    Oh, riiiiight.

     

    Pass the pitchfork.


  3. Quote

    There are over 120,000 realtors in Canada. Astonishingly, 48,000 of them work in a single market – the GTA. This probably explains why the region has 10 Audi dealerships. And why there was an audible wail in the air Friday afternoon, epicentred on Don Mills Road just south of the Death Highway known as 401. The massive Toronto Real Estate Board, the largest in North America, just got smoked.

    It’s taken six years and a massive pile of court documents, but the real estate cartel’s stranglehold on information has finally been broken. The federal Court of Appeal upheld a previous ruling that TREB (and, by extension, every other real estate board in the country) must allow its members to freely publish consumer-friendly stats and related data, the way the enlightened realtors in Nova Scotia do.

    What this means: expect progressive agents and real estate marketers to start publishing the sold prices of houses, sales histories including expired or renewed listings, days-on-market, price reductions or increases, pending sales as well as broker commissions. Dashed have been the real estate cartel’s arguments that this is proprietary data and  revealing it would encroach on the privacy of homeowners.

    So, finally. Transparency on sales histories, giving buyers some context, opening the door for a Canadian Zillow. Combined with rising mortgage rates, universal rent controls, anti-Chinese-dude taxes, empty-house taxes and the 2% stress test, plus assaults on AirBnB and the lunacy going on in Vancouver, this ruling helps ensure 2018 will be a year of profound adjustment in the housing market. Aren’t you glad you listened to advice here and bailed in March?

    http://www.greaterfool.ca

    Imagine...being able to see what was actually happening instead of what the vested interests told you was happening.

    Confirmed.  Gold! Gold for Australia...

     

     


  4. Well well it does see interesting.  The CDN Gov'ts (Feds & Provincial) were trying to moderate RE with small things here and there: bump the qualify test a little, no more 30 year mortgages, min 20% down on Jumbos...and mortgage rates crept up a touch, from what I can tell about the same as here.   And suddenly BAM! prices dropping, deals stuck with lawyers...90 days.   Insane, but if you can't really afford it anyway why is everyone so surprised idiots at the margin were overpaying by 30%?   The last time Toronto had a correction similar in size it took more than a couple of years to get back to even...  so what's the hurry?   Fortunately Australia has Victoria Bitter which prevents the locals from putting all this together.  

    Canadian RE growth ...caution, sourced from rea, I think

    I guess with Canada stuffed Australia claims Gold Gold for Australia!?   We're the only ones left, right?  So we won?   Gold Gold for Australia!?  

    Why is everyone rushing for the exit?


  5. Meanwhile...   Just when people quit thinking affordability would ever return the speed of the Canadian Real Estate correction is freakin' the people out.

    Could it happen just as quickly here?

    Greaterfool.ca   The Landing

    Quote

    First the numbers. On Thursday realtors confirmed what this pathetically prescient blog reported last week. A detached house in the Kingdom of 416 which fetched $1.578 million in April is now going for $1.3 million. More than a 17% decline in 90 days. The biggest monthly decline since the Bronze Age. Historic. And sales are foretelling more pain to come. The number of detached deals collapsed in July (from last July) by 48%. Overall in the GTA, home to six million lost souls, sales faded 40%. In the 905 region, land of suburban despair, accepted offers fell by half. There is not enough lipstick in the land to make this porker pucker.

     


  6. The amount of NG fraud must be adding up.  There are houses in my area advertised for rent for 6+ months.  No reduction in ask price, but why would you care in a 20% pa increase festival of toilet appreciation?   But my point here is I'll bet they take these windfall profits and still expect to be able to reduce their taxes.   It is an incredible time.


  7. I cannot imagine empty boxes in the sky will appreciate forever.  

     

    Jack and the beanstock, anyone?

    Quote

    Jack is a young, poor boy living with his widowed mother and a cow as their only source of income. When the cow stops giving milk, Jack's mother tells him to take it to the market to be sold. On the way, Jack meets an old man who offers magic beans in exchange for the cow, and Jack makes the trade. When he arrives home without any money, his mother becomes angry, throws the beans on the ground, and sends Jack to bed without dinner.

    During the night, the magic beans cause a gigantic beanstalk to grow. The next morning, Jack climbs the beanstalk to a land high in the sky. He finds an enormous castle and sneaks in. Soon after, the castle's owner, a giant, returns home. He senses that Jack is nearby, and speaks a rhyme:

    Fee-fi-fo-fum!
    I smell the blood of an Englishman,
    Be he alive, or be he dead,
    I'll grind his bones to make my bread.[4]

    In the versions in which the giant's wife features, she persuades him that he is mistaken. When the giant falls asleep Jack steals a bag of gold coins and makes his escape down the beanstalk.

    Jack climbs the beanstalk twice more. He learns of other treasures and steals them when the giant sleeps: first a goose that lays golden eggs (see the idiom "to kill the goose that laid the golden eggs."), then a harp that plays by itself. The giant wakes when Jack leaves the house with the harp and chases Jack down the beanstalk. Jack calls to his mother for an axe and before the giant reaches the ground, cuts down the beanstalk, causing the giant to fall to his death.

    Jack and his mother live happily ever after with the riches that Jack acquired.

     


  8. Quote

    Australia's 'spring-selling' real estate season has seen a defiant return of Chinese buyers, undaunted by lending restrictions aimed at curbing their interest in the country's sky-rocketing housing market.

    Financiers and real estate agents say Asian investors have found new avenues to re-enter the market, including targeting cheaper homes and settling in cash.

    http://www.smh.com.au/business/the-economy/foreigners-pile-back-into-australian-property-reigniting-bubble-fears-20161124-gsx97i.html

    Not sure if this is yellow peril or just buy.  I guess one in the same?


  9. BC just put in a $2m+ foreign purchaser premium tax on real estate purchases.      

     

    Garth Turner's view...

     

    http://www.greaterfool.ca/2016/07/25/the-crash-tax/http://www.greaterfool.ca/2016/07/25/the-crash-tax/

     

    I have to admit the BC government's "discovery" that (only) 5% of real estate transactions in Vancouver are foreign aligns with my initial theory that it is similar here...it is an easy target to blame The Choyneese even though chances are you have relatives participating state-sponsored RE speculation just down the street.

     

    Time will tell.  Interesting that BC is a jurisdiction experiencing similar RE rises, in theory driven by a similar cause, now investigating and identifying actual facts about the situation.   Don't worry though, can't happen here...we currently have one of the largest cabinets in Australian political history that chose to omit a Housing portfolio.   She'll be right.


  10. New thread.  Tales of Danger, Inconvenience and Loss to worry The Renter.

     

    Episode One:  Greens will win.  Yeah...Riiiiight...

     

    Luke Fennell has had good experiences with landlords, including his current one.

    But one previous rental on Sydney's lower north shore turned into a horror story for the 47-year-old engineer and his wife and two children

    http://www.smh.com.au/money/saving/how-tenants-can-protect-themselves-from-nightmare-landlords-20160623-gppvfq.html