“Great spirits have always encountered violent opposition from mediocre minds.”
#OZBUZZ #REALESTATEMARKET #BOOK #AUDIOBOOKS #MUSIC #CANADAECONOMY #INTERESTRATES #INTERESTRATEFORECAST #WORDSIHATE #LIVELIFELARGE
Much discussion/debate/suggestions received! Thank you but I am not engaging in a one on one basis. What I believe is stated below … your call as to what you believe. Cheers!
- The US is tightening the money supply and increasing interest rates.
- Major nations around the world are seeing a huge collapse in their currencies (notably India at an all-time low).
- Interest rates are on the move in England, the USA and likely in Canada this month.
We are seeing a continued tightening of credit worldwide and while it is slow at this time we must take note! A credit crunch is brewing! See the to-do item.
REAL ESTATE THOUGHTS
Since most “Buzzies” are in Vancouver and since Vancouver is in the throes of a major market change, we focus the numbers here. Vancouver home sale activity has now dipped below long-term historical averages (last month’s sales were 29 per cent below the 10-year June sales average) and the supply of homes for sale in Metro Vancouver has reached a three-year high in June… Government-concerted efforts to crash the market may well be underway. Not a crash yet, but keep it up guys and you will have brought about one!
The real estate market in Vancouver has now declined for the last four months.
Sales are down 41% over last June and 14% since May. At the same time, we experienced an increase in listings by some 40% – this is now the largest increase in properties for sale since 2015. While prices are still hanging in there, the decline in sales coupled with the increase in listings bodes for a further slowdown during the summer months and will affect prices as well. Please note the Vancouver numbers below. We should note that across the country sales are down but some places – notably Toronto – are seeing a firming in prices.
(Townhouse listings up 63%.)
The Fraser Valley also reports a 43% decline in sales and a 30 percent increase in listings. Prices however are still much higher (+24% in condos for instance).
Major Point: Check the to-do item if you’re planning to buy/sell into this market.
What’s the ONE Thing you can do such that by doing it everything else will be easier or unnecessary?
In the number one Wall Street Journal bestseller, Gary Keller has identified that behind every successful person is their ONE Thing. No matter how success is measured, personal or professional, only the ability to dismiss distractions and concentrate on your ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.
ONE Thing stands between you and your goals. The ONE Thing is about getting extraordinary results in every situation.
British Artist Tove Lo, you may no know but you will realize this big hit in NA. John Newman is also not well known here. I love his quirky voice.
On air with Michael Campbell on fabulous MONEYTALKS every Saturday sometime between 8:30AM – 10 AM. The Hot Property that we discuss there, is available by subscribing to the OzBuzz Dispatch at Jurock.com
QUESTIONS I ASK?
Why do we use the same phrases and words over and over? Like:
- Thrown under the bus (A favourite of all)
- Par for the course
- Back to the drawing board
- Slim-fit (arrgh). Whenever I go shopping … all clothes are made for skinny men, not stately shaped ones – like me.
- US interest rates will rise 4 times .35% each time this year. Canadian interest rates will rise 3 times more, starting in July. If you agree that a credit crunch is brewing – take action!
- If you have a credit line, fix it or extend it now.
- If you have a mortgage, fix your interest rates for at least five years or for as long as you wish to keep the property. Rates are rising and mortgages will be harder to qualify for.
- Expect interest rates to tighten EVEN further for consumers than currently indicated if this currently slow credit crunch deepens. However, bond yields may stay even to low, since the world is looking for safety and foreign countries as well as all pension funds are piling into US 10 year and 30 year bonds.
- If you need to sell your property, get a professional realtor, list it at today’s price (not last year’s) and offer something unique (buy down a mortgage, offer a vendor take back, etc.).
- If you do not need to sell, don’t worry – all our history points to a dip from time to time and then full recovery to often new heights. We are already seeing the return to price stability in Toronto. We do however expect a slowdown continue in Vancouver for 2018.
LIVE LIFE LARGE
Whatever you have today, look around you – you dreamt it in the past. Dream Big!
Yesterday’s dreams form today’s realities.
Tomorrow’s reality will come
From today’s dreams
Big dreams, big goals
Big challenges, big rewards
I will dream big
I will dream in technicolor
I will dream in surround sound
I will dream big
I will grow into my future best!
Look up all the “Grow into your future best” cards at: www.commitperformmeasure.com
Have a great week and grow into your future best self!
!!!Ozzie Jurock’s Real Estate Outlook conference is just 3 months away!!!
PS: Ozzie Jurock’s Real Estate Outlook conference is just 3 months away. Here’s a real opportunity for you: What is it? Buy an early bird ticket now (regular price $127, early bird only $77!) at www.jurock.com
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