Comments on: Ya think?

By: Dave

Dave — Mon, 02 Mar 2009 06:55:48 +0000

someone earlier mentioned that the DOW and TSX have hit lows not seen since 1997- which is correct. That same person suggested that real estate prices will follow. Therefore, prices of real estate will be at 1997 levels.

Can someone please confirm this? Does anyone have any info. linking stock price levels with real estate price levels?

This would be very interesting, however, I’ve never heard something like this before.

thanks in advance

By: David Bakody

David Bakody — Sat, 28 Feb 2009 18:44:17 +0000

For all those who want to know all about gold. This extensive article appears to support what Garth said in nut shell …. ( Gold was/is good … but!)

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/

By: CAPOFALBERTA

CAPOFALBERTA — Fri, 27 Feb 2009 03:33:35 +0000

Wait two weeks, and go in lower. Wait two weeks and repeat. —-GARTH—maybe my problem is I go to low right off the get go and I dont budge. LOL

A realtor friend in VICTORIA expects the market to drop upto 35% and was questiong why I was looking right now

Does anybody in the know epext intrest rates to rise

By: KenDaBanker

KenDaBanker — Fri, 27 Feb 2009 03:24:21 +0000

Garth – am a fan of your posts.
Waiting for the housing market to fall a bit before I decide to invest in my home – I presently rent. I work in a bank and I have been talking around with bankers. I happen to understand the following:
Mortgage companies/banks are discounting the peak prices by 20% and then assume min 10% downpayment before giving out the rest as mortgage loan.
Example: For a house with peak price of $400,000 in mid-2008, banks will assume the price to fall by 20% to $320K and then downpayment 10%. Hence mortgage loan will only be $288K – in other words only 72% of peak prices. You ppl do the maths for the other prices. Banks/mortgages are very conservative now. Credit history is important but 95% financing is becoming a mirage in the desert.

for buyers to get mortgages, be prepared to make a huge down unless the prices are decreased. But sellers are not decreasing – some have decrease by 10% but most are stubborn. Some buyers tried buying even when price is high but then, they don’t get a mortgage.

my view – sellers should reduce their prices to sell and buyers (if any) should bid peak price minus 20% (min).
In the end, buyers will dictate. But when will sellers give in and realise they can’t make huge profits.
Some buyers are buying a HOME.

By: Bill-Muskoka (NAM)

Bill-Muskoka (NAM) — Fri, 27 Feb 2009 03:22:43 +0000

The safest place to live in the Free World is the Pacific Northwest…especially Vancouver, the next Financial/Trade/Leisure Capital of North America.

#149 North Vancouver Citizen Jr. on 02.26.09 at 7:00 pm

Really? How is the Pacific Plate doing these days? Any seismic rumblings? A little resurgence of volcanic activity?

Whatya gonna do when the Plastic Sea reaches your shore from the mid-Pacific? Recycle it all? Sell it all back to China and buy it again?

By: Bill-Muskoka (NAM)

Bill-Muskoka (NAM) — Fri, 27 Feb 2009 03:15:59 +0000

#161 TomOfMilton on 02.26.09 at 9:48 pm

Forget all that. Eliminate the Carbon Based Life Forms! Kluto!

By: Bill-Muskoka (NAM)

Bill-Muskoka (NAM) — Fri, 27 Feb 2009 03:14:38 +0000

Anyways, don’t worry about 15 years from now. With the trillions of paper money being printed 500K will seem pretty cheap 15 years from now. That could be the average yearly wage for a janitor.

#153 CalgaryRocks on 02.26.09 at 7:52 pm

Whoa Man! Like did you just get done with a Cheech Marin sized Doogie? How was B.C.? Good bud it would appear! LMAO!

By: CAPOFALBERTA

CAPOFALBERTA — Fri, 27 Feb 2009 03:12:24 +0000

Here in Edmonton seems that 5% is about how low your offer can go. My realotr knows a bank exe and on there forecloseurs thats about there limit.
Also was looking at 1100 sq ft bungalow—listed 332,900 and they want 315 000—-5.25% thats all there gonna move.

Wait two weeks, and go in lower. Wait two weeks and repeat. — Garth

By: Bill-Muskoka (NAM)

Bill-Muskoka (NAM) — Fri, 27 Feb 2009 03:10:31 +0000

#151 Reg on 02.26.09 at 7:40 pm

Well, when I was a CEO of a corporation the annual meeting determined if my request for salary was in line with reality. Maybe the stockholders will simply sell their stock to a competitor and stuff it right up the CEO’s arse?

That would a be a very ‘proctical’ means of dealing with the situation, eh?

By: TomOfMilton

TomOfMilton — Fri, 27 Feb 2009 02:48:15 +0000

#59 “…After all, she was punctual. Riot starts at noon, who’s in?”

Well…it looks like it’s you and me against the universe.
When do we attack!!!?