Andy McKay

Nov 19, 2008

Housing slump in BC

Canadian reporting on the housing prices (something I follow regularly) is terrible. 90% of the reports include a quote from an estate agent, or:

Despite the fall in sales, board president Dave Watt (of Real Estate Board of Greater Vancouver) remained upbeat about the Vancouver real estate market.

CBC - 42% fall in home sales

Fortunately it seems this trend is slowing down as perhaps even they have had little positive to say. Or perhaps the media have realised asking the salesman if you should buy their product is a bit stupid. But this one in the Vancouver Sun (who by the way, have got a terrible website) got me laughing:

"It's been a little bit surprising the consequences of the subprime crisis have been so far-reaching," said Hanley, 48, who has cut his asking price to $3.99 million

Vancouver Sun - Housing slump hits BC

Add us to the list of people not buying that one then.