TheBear

I never thought Vancouver would be as badly hit as the UK, but if anything it is much worse. Two months with month on month falls over 4 percent...it is a rout. In seven months Vancouver has lost nearly as much as we have in a whole year, at this rate prices will be sensible by this time next year...and this is for detached houses, people are walking away from deposits on condos rather than lose even more if they go through with the purchase.

http://www.canadian-housing-price-charts.235.ca/

Tangram

And this is a surprise because ? Which bit of 'World Recession' didn't you get ?

The Wortley`s

Why are some people so sarcastic!!!!!!! is there any need for it?

Sevy

Hi, I was interested to see your timescales re the Permanent resident visa, I am waiting for the Canadian embassy in London to request our passports, it looks like they only take a few weeks to return them, is that your experience?

Many thanks !

marclouis

there is a theory that Canada will be a little behind (and slower) than the UK in property ups and downs.

The Wortley`s

Hi, firstly I have just been reading your thread about that rat of a husband, so sorry to hear that, but dont let a man ruin your life, I am a great believer in fate and I am sure you will be the one who will become the winner out of it.
Back to the Passport, yes we sent out passports via the post and had them returned within the 2 weeks. Sally

Tangram

That wasn't sarcasm.

The Wortley`s

What was it then

Sevy

Thanks Sally thats good to hear the timescales for getting the visas back !

The boys and I are looking forward to going back to Canada. Re marriage I work on the basis I had a life before I met my husband ! Im positive. Not sure about 'dating ' though thats a bit scarey !!!!

Sevy

The Wortley`s

Well good luck to you and hope 2009 brings better things for you

TheBear

What is it about the internet that makes people feel they have some Godgiven right to be puerile at every opportunity? It's like being in a school playground. Grow up and learn to express yourself in a mature and considerate way.

Danny B

Pissed off at buying a house at the peak of the boom?

startwin

You can't base everything on newspaper articles - though yes, the condo situation is happening in a couple of projects, and it's happened before, but it's a well needed adjustment. It had gotten totally out of hand, especially with the off-shore purchasers driving the prices up and out of the reach of most who live here. It's rather alarmist to sit in the UK and make observations about the Vancouver market like that. Believe it or not, the real estate market goes on, though a bit slower. Sales are happening, and if you are selling and buying in the same market it makes not a bit of difference. I read the UK papers daily, and from what I read the market there is in far worse shape, but I don't live there so can't comment any further than that.

Two houses in my street have sold recently. Slightly reduced prices, but in my opinion more realistic prices. The economic situation has a good side - it's slowing down the urban sprawl created by greedy developers.

TheBear

The article I quoted is Canadian, and is a property price tracking site. I also watch the development of skyscrapers in vancouver closely, and it seems that many projects are either being cancelled or put on hold. I also had Christmas lunch with an incredibly wealthy Canadian when i visited Vancouver last year, and he expected the Vancouver market to have a 30-40% adjustment as it was so far out touch with supporting fundamentals (income). Since he owned a number of properties himself, he had nothing to gain by saying such a thing.

Personally, I'm inclined to agree with your comment that things are worse here (UK). Our economy is going down the toilet quickly, Canada has a much brighter future than we do, especially in BC where 100% of power will be generated by hydro projects by 2016. Energy is going to be the determining factor of future economic success, and although Canada has a few tough years ahead of it where property deflation and rising unemployment will make things feel less rosy, England has decades of decline ahead of it IMHO.

Referring to the idiot posting above...the recession might be global, but different economies will be effected to greater or lesser extents, and will be better or worse placed to benefit from the recovery when it arrives. Due to it's abundance of natural resources, and particularly Oil, canada will be able to climb out of this economic hole much earlier than Britain which seems to only sell insurance now.

JonboyE

Is it just me, or does anyone else have trouble taking that site seriously? For some reason I can't bring myself to form any considered opinion from figures given on a "Plunge-o-Meter".

Its analysis doesn't say if it is discussing asking prices or selling prices. It also fails to explain the correlation between real estate prices and adverts for sexual services. Which is a shame, as that could be the most enjoyable read.