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Real Estate

It’s Crash Awareness Week

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Posted by Bill Bonner - Diary of a Rogue Economist

on Thursday, 02 March 2017 10:05

image002A Los Angeles spec house is on the market. It has seven bedrooms and 20,000 square feet of living space. 

It comes with a gold Lamborghini Aventador and a gold Rolls-Royce Dawn.

You also get a wine cellar, a pool, and the usual claptrap amenities to which rich people are easy prey.

The price? A hundred million dollars.

Oh, and it comes with some of Damien Hirst’s oeuvres, considered by some to be “art.”

The builder says he has another one under construction in Bel-Air that he plans to offer for $500 million.

Bombastic Extravagance

What do we make of this? 



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Real Estate

A Mind Boggling Market Down-Turn

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Posted by Ozzie Jurock with Michael Campbellbell

on Monday, 13 February 2017 10:06

A forecast by Ozzie comes true with a 19% decline in Vancouver housing prices. The number of sales of single family dwellings is down tremendously and buyers are moving to different classes of dwellings

.....also Mike's Goofy: Extremism Play-doh & Coloring Books

Screen Shot 2017-02-12 at 8.27.00 AM

 



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Real Estate

Six benefits to investing in real estate

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Posted by Canadian Real Estate Wealth

on Friday, 10 February 2017 08:30

sdfsdThe time and effort it takes to build up a real estate portfolio can test your will, but when you stick with it, the benefits are worthwhile.  
 
Here is my list of the six benefits of investing in real estate:
 
1. The courage to walk away
 

....read 2 thru 6 benefits HERE

 

....related: Canada 6-City Housing Prices Slide Off Their Highs



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Real Estate

Canada 6-City Housing Prices Slide Off Their Highs

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Posted by Brian Ripley's Canadian Real Estate Charts

on Tuesday, 07 February 2017 11:23

chart-canada 1 orig

CLICK CHART TO ENLARGE

The chart above shows the average detached housing prices for Vancouver*, Calgary, Edmonton, Toronto*, Ottawa* and Montréal* (the six Canadian cities with over a million people each) as well as the average of the sum of VancouverCalgary and Toronto condo (apartment) prices on the left axis. ​On the right axis is the seasonally adjusted annualized rate (SAAR) of MLS® Residential Sales across Canada (one month lag).

​​In January 2017 Canada's big city metro SFD prices coiled about or slid off their near term highs except in Toronto where detached houses and town houses fetched new peak prices. Anyone owning a house in the scorching hot Toronto  market is sitting on an unredeemed lottery ticket. In Vancouver scorched earth ruins are beginning to appear. Notice Calgary prices are labouring under the new Energy Sector 2.0 which could be anticipating the Trumpster's U.S. energy independence.

....continue reading HERE

....related: The Canadian Real Estate Plunge-O-Meter (The Plunge-O-Meter tracks the dollar and percentage losses from the peak and projects when prices might find support.)



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Real Estate

BMO: Overseas buyers mainly responsible for Toronto, Victoria price growth

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Posted by Canadian Real Estate Wealth

on Friday, 27 January 2017 14:51

1468459295632“We have enough history now to distinguish the clear divergence between Vancouver (down) and Toronto (still straight up),” BMO chief economist Douglas Porter wrote in a January 24 client note, as quoted by BuzzBuzzHome.
 
Porter stated that sufficient time has passed to make a proper evaluation of these leading markets...

....read more HERE

...related:

The next hottest spot for investors?



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Tyler Bollhorn Eric Coffin Jack Crooks Patrick Ceresna
Ozzie Jurock Mark Leibovit Greg Weldon Ryan Irvine