TIME TO BUY!!!

[bstach]

NOW!

[JayB]

One of the more amusing RE blogs these days.

 

http://www.greaterfool.ca/

 

 

 

[G-spotter]

I thought this was gonna be about gold

[bstach]

So your not a Garth Turner fan JayB? I take it your buying?

[olyclimber]

i think Jay probably is a fan of that site, as he loves to watch idiots suffer.

 

layman's perspective:

the BC market is very different than the Seattle market. i think the Vancouver/Squamish/Frasier delta shit is all set to hit the fan. Seattle has already been hit.

[olyclimber]

http://en.wikipedia.org/wiki/Greater_fool_theory

[olyclimber]

hahaha...thought I knew a little about Keynes, but didn't know this one:

 

http://en.wikipedia.org/wiki/Keynesian_beauty_contest

[JayB]

So your not a Garth Turner fan JayB? I take it your buying?

 

I think that the great cornholing, delayed by two years via the CHMC whipping out the 40-year-100% loan with a reset in 5 years when the freefall started in '08, is now well underway in Canada in general and BC in particular. Just a matter of time for Australia as well IMO.

 

Enjoy Garth's tone and scrolling through the comments.

 

 

[JayB]

i think Jay probably is a fan of that site, as he loves to watch idiots suffer.

 

layman's perspective:

the BC market is very different than the Seattle market. i think the Vancouver/Squamish/Frasier delta shit is all set to hit the fan. Seattle has already been hit.

 

Think Seattle has a way to go before cash-flow vulture types would step in to put a floor on prices. Maybe 10-15% more before we hit that point.

 

We're still a long way from buying so it's all kind of fantasy-football for me.

[olyclimber]

there are places going for 1/2 the original asking price. maybe they will go lower.

 

a friend of mine just bought a brand new place for half the original asking price here in West Seattle. it has view of the city from south of the ballparks to Discovery Park, as well as a pretty good view of the Olympics. it has a "million dollar view" if there ever was one. it was fitted with high end appliances/counterstop/tile/etc.

 

he isn't a rich guy (just saved his pennies when on tour in Iraq and Afghanistan), but he just waited for the good deal. I'm thinking he made a good decision. perhaps a deal like that won't be available at the bottom though, so who knows, and maybe there is room to fall.