Posted on: 26-09-08 15:59:13
Just out of curiosity and not to offend you Rahul - isn't there any other subject on this earth (or this forum to be precise) which interestes you???
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Chandresh
Advice is free – lessons I charge for!!
Quote:
Originally posted by chandresh
Just out of curiosity and not to offend you Rahul - isn't there any subject on this earth (or this forum to be precise) which interestes you???
He started looking for a house in 2006 http://www.canadiandesi.ca/read.php?TID=13541 .... since the he has been a " jehadi" against the RE mafia .......
I read life, citizenship, have fun, USA, Own Native Country and others in this site.
What I think or see this market (Stock, RE, oil, commodity) is not going to change anything. I don't think people make their decision just by reading this blog or imapct anyone.
The difference is some people get early, some get late and some never understand.
Quote:
Originally posted by puttoo
Quote:
Originally posted by chandresh
Just out of curiosity and not to offend you Rahul - isn't there any subject on this earth (or this forum to be precise) which interestes you???
He started looking for a house in 2006 http://www.canadiandesi.ca/read.php?TID=13541 .... since the he has been a " jehadi" against the RE mafia .......
Fully support Rahul's view on RE market that it would be the worst in year 2009. Canada is no different and moreover USA is Canada's biggest trading partner.
Cheers Rahul, keep going!
I agree with Rahul too
The CBC article, "More Albertans unable to make mortgage payments." was primarily in reference to speculators who had originally hoped to flip multiple properties with quick and profitable sales. Now, one of the biggest problems with the all of a sudden and huge run up in inventory is that all the speculators decided it was time to cash in, and they decided almost all at once. Then once sales started to slip because of poor affordability and less net migration, they began to desparately dump property and take lower and lower offers in order not to "struggle" in carrying multiple mortgages, or even let them go into foreclosure. We won't see what the real market situation is for 'home owners' until the market is mostly purged of the speculators dumping their properties, this includes builders holding inventory as speculators as well. How long will that take, thats the question, and the answer gets back to what the net-migration figures are that are needed to suck up all the excess inventory????
http://www.canada.com/calgaryherald/news/story.html?id=b5cc6231-54f4-426a-82dc-ed1e04ef0d93
Alberta leads nation with biggest decrease in average home sale price
CALGARY - Alberta led all provinces in Canada with the biggest decrease in the average sale price for an existing home in August compared with a year ago, according to the Canadian Real Estate Association.
Statistics released today by CREA show the average MLS sale price in Alberta dipped by 5.2 per cent to $343,148. The only other province experiencing a year-over-year price decline was British Columbia at 4.1 per cent to $421,685. At the national level, prices in August dropped by 4.6 per cent from a year ago to $290,347.
The CREA numbers also showed sales in Alberta were down 8.4 per cent from a year ago while new listings have dropped by 18.4 per cent.
sales were down 21 per cent and new listings were off by 3.4 per cent.
"Slower activity in some of Canada's pricier housing markets compared to year-ago levels will continue weighing on the national average price," said Gregory Klump, CREA's chief economist.
On a year-to-date basis until the end of August, Alberta MLS sales are down by 22.7 per cent but new listings were up 9.9 per cent. The average sale price has increased by 0.2 per cent to $357,145.
Across the country, sales are down 14 per cent year-to-date compared with the same period in 2007 and new listings increased by 8.7 per cent. The average sale price has increased by 1.9 per cent to $309,698.
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Q: Any RE news from other part of the Country?
How I wish you had actually answered my question!
Quote:
Originally posted by rahul_singh23
I read life, citizenship, have fun, USA, Own Native Country and others in this site.
What I think or see this market (Stock, RE, oil, commodity) is not going to change anything. I don't think people make their decision just by reading this blog or imapct anyone.
The difference is some people get early, some get late and some never understand.
Quote:
Originally posted by puttoo
Quote:
Originally posted by chandresh
Just out of curiosity and not to offend you Rahul - isn't there any other subject on this earth (or this forum to be precise) which interestes you???
He started looking for a house in 2006 http://www.canadiandesi.ca/read.php?TID=13541 .... since the he has been a " jehadi" against the RE mafia .......
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Chandresh
Advice is free – lessons I charge for!!
