604homesblog

In support of some of these myths however, is the mounting number of price reductions appearing in the listings.  

And in regards to the solid the investment myth: many of these reductions are way more than a year of rent for an nice comfortable place.  

Now I am not saying anything is going to crash tomorrow, but anyone who has been looking at MLS listings since last year as I have owes it to themselves to give it a chance to correct given just how big "relatively speaking" some of these corrections really are.

You say - She says - I say.

You say:  "Some of my favourites myths from the article are:"

Christy says:

13. A home that has been staged using professional design principles to make it more appealing to buyers sells and for more.

Reality

(not myth)

I say:  ooooops! .>)

ooops on me too. .>(

Correct author is Derrick Penner.

Christy does the audio.

What cracks me up is at the foot of this article, below the comments is a Google ad titled "BC Foreclosure Listings". Expect to see a lot more of these in the next couple of years! As for the graphs each spike has a downturn immediately afterwards. We are currently at the top of the spike. The prices won't go to 10 years ago prices, but they will stop rising so fast and will then adjust to a more sustainable level. Buy now and you risk negative equity, apart from the fact that is a 500 sq ft condo you'll grow out of within a couple of years really worth $350,000? The other fantastically bad bit in this article was that you should charge rent at a 10th of your property price. With ave condos at around $400,000 does that mean renters should pay $4000 a month!! Way to destroy a city and drive out the people who keep it running.

Notice too, that all the comments under the Vancouver Sun article have now been removed..

Perhaps there were too many issues there which the editors did not want the public reading about?

Great find and article, Matt

I was a bit concerned. You haven't Twittered for a while :)