//Oz Buzz #7

Oz Buzz #7

Oz Buzz

“We’re all born under the same sky, but we don’t all have the same horizon”

–Konrad Adenauer

#OZBUZZ #THENUMBERS #REALESTATEMARKET #BOOK #SONG #WORLDVIEW #WORDSIHATE #LIVELIFELARGE #THEBESTTIMETOBUY #EYEBROWRAISER

Today’s issue: Several comments: Lots of responses on all things real estateA doer’s book – how to trigger a $27 million shotgun clause. Ozzie on air. Real Estate tidbits. Because we let them-We are a kiss-ass generation-Interest rates-Canada dollar. Eyebrow raiser – Clint Eastwood

CORRECTION

Jamie Diamond – who we quoted in regards to the Bitcoin issue – is Chairman and CEO of J.P. Morgan Chase, not Goldman Sachs (Lloyd Blankfein is the Chairman of Goldman Sachs). Sorry!

HOT PROPERTY – COMMENT

As you know from time to time, we feature what we think is a property well worth looking at. One such property that we featured in OzBuzz was an online auction of building lots on West Lake in Alberta. I was just told that the auctions 33 lots sold out for as low as $18,000 and an average price of $33,000. Go to get HOT Property in your mailbox? Sign in at jurock.com.

SEVERAL COMMENTS

A number of responses to a) look at correction above & b) the article from the Economist c) 3 compliments (blush). Some of these comments show the biases that some people have when, regardless of what the topic is, they must bring across their personal view on their world. For instance, I received a response on real estate prices not being linked to affordability (Economist) and the writer quoted… ‘that may be, but that doesn’t mean that Government shouldn’t implement policies to make that so rather than being juiced by foreign untaxed capital, as Christy Clark did.’ People insist on being political, what I try to do is shine a light on why real estate values may move in the future and in what direction and what kind. As well, warn you about some of the real estate (neve buy hotels e.g.). Biases are biases. Take a look at the item on “if you’re not in my box, you are the enemy”. The biggest danger to Western democracies are our total biases. (Read the recommended book in OzBUzz 2). And yes! I love ALL responses…regardless of my own biases!

THE NUMBERS (very early – not final)

The real estate market in Vancouver has now declined for the last 7 months. Sales are down 36% over last August. At the same time, we experienced an increase in condo listings by some 61%!! While prices are still hanging in there, they are coming off sharply at the upper end. The Westside SF price is down by 22% over last August. We did forecast the further slowdown during the summer months and that it would will affect prices as well. Please note the Vancouver numbers below. We include the April 2016 numbers just for a reference (i.e. total sales in April 2016 were 5,193 – this August just 1,948. Yes, it is not a fair comparison (April versus August) but it demonstrates. It also demonstrates that condos are priced well above 2016 but not SF.

THE NUMBERS AUGUST

VANCOUVER 2018 2017 % APRIL 2016
Sales 1,948 3,060 -36% 5,193
Price 1,020,100 983,000 +03% 1,108,000
Active Listings 12,147 9,810 +24% 8,968
DETACHED
Sales 579 915 -37% 1,969
Price 1,630,400 1,613,100 +01% 1,812,900
Active Listings 6,532 6,124 +07% 4,485
CONDO
Sales 1,031 1,617 -36% 2,116
Price 711,900 656,600 +08% 527,500
Active Listings 3,868 2,398 +61% 3,488

The decline in sales and the increase in listings is across the board. For example:

  • Richmond: Condo listings +45%, condo sales down -36%, SF listings +8%, Sales down 40%
  • Westside: Condo listings +40%, Condo sales – 32%. SF Price down 22% (from 4,320,000 to 3,377,000)

Major Point: We told you what to do in OzBuzz 3 – no change.

COMPARISON OF MUNICIPAL FINANCES (FRASER INSTITUTE)

A brilliant summary showing things like: Vancouver outspends Surrey on an almost two to one basis per capita! West Vancouver, the highest spender in 2016 (at $2,583 per person), spends more than twice the amount spent by Surrey, the lowest spender (at $1,057 per person), and more than one-and-a-half times the regional average ($1,549 per person). But the large differences in per-person spending do not seem to be driven by population. For instance, the City of Vancouver has the largest population and is the third highest spender ($1,944 per person), while Surrey has the second largest population and is the lowest spender (17th). Look at: https://www.fraserinstitute.org/studies/comparing-municipal-government-finances-in-metro-vancouver-2018

OZBUZZ TOTALLY BIASED ROMP AROUND THE WORLD FORECASTS:

  • Real Estate sales are falling worldwide – Notably in US, Canada and Australia.
  • Interest rates: US will keep raising. Canada will no raise this week…but will raise October and January. US increases will kill more emerging countries than guns would
  • Can Dollar: We predicted the dollar would rise wit ha Nafta settlement – temporarily. Its not settled yet…watch where you are. After the settlement the dollar will resume decline into th 73 cent range,
  • Emerging markets will contnue to struggle with ever higher US dollar denominated debt. Get out while you can
  • Turkey will be bailed out…but don’t worry about Turkey and Argentina…watch Italy in late October. If they do not accept the IMF orders – the euro will crash. Also, Turkey is not worried. Spanish and German banks are wed 600 million!
  • Watch: Deutsche Bank…it will collapse, but who will pay it to continue…sell them.
  • Kinder Morgan: This is what it’s like to deal with extremists (Michael Cambell!)
  • Complaining about google / facebook ads? Understand that you are not the customer…you are the product! If you don’t get that and don’t like it – get out of Social Media.

EYEBROW RAISER: CLINT EASTWOOD SAYS WE ARE A PUSSY GENERATION

POLARIZATION! The biggest danger to democrazy – democracy . I wrote this in 2016. It is even more relevant now: We are too scared to speak up. Free speech is in serious trouble and why…because according to Clint – we have become too scared. Clint Eastwood, a respected elder statesman in Hollywood, and iron man does not mince words. Commenting on the widespread negative reaction aimed at Republican nominee Donald Trump, Eastwood said“He’s said a lot of dumb things. So have all of them. Both sides. But everybody — the press and everybody’s going, ‘Oh, well, that’s racist,’ and they’re making a big hoodoo out of it. Just f—king get over it. It’s a sad time in history.” He did not actually endorse Trump… nut in general : “There’s been just too much funny business on both sides of the aisle.” 

Our eyebrow raiser is this: He also commented on the difference between the  current generation and his: Secretly, everybody’s getting tired of political correctness, kissingup. That’s the kiss-ass generation we’re in right now. We’re really in a pussy generation. Everybody’s walking on eggshells. We see people accusing people of being racist and all kinds of stuff. When I grew up, those things weren’t called racist.” 
Major Point: I agree with him on this: “We are supposed to be free to ‘express our opinions”, but I guess our forefathers did not reckon on social media and the political correctness it imposes. It seems often more important to beat each other up. If you are not with me – you are against me. What happened to the loyal opposition. In an imperfect democracy the balance that works is mutual respect for other’s opinions and the freedom to voice yours.

BOOK

‘Never fight with a pig’  by founder of C- 21 Canada: Peter Thomas. How to trigger a 27 million shotgun clause. Great advice. ‘Never fight with a pig: A survival guide for entrepreneurs’ by Peter Thomas

SONG OF THE WEEK

Several of you were looking for the ‘Song of the week’ last week. Also, where can people join Ozzie on air? Here is one of my alltime favourites.
Sisters of Mercy – Temple of Love — https://www.youtube.com/watch?v=1AJjbm96Orw

AUDIOBOOK

Too busy to read? Want to listen to Ozzie’s book for free? Sign-up for a free trial at Audible by clicking HERE and get Real Estate Action 2.0 FREE. Also get What, Where, when and how to buy real estate in Canada!

RADIO

Ozzie is on air with Michael Campbell every Saturday sometime between 8:30AM – 10 AM. The Hot Property that we discuss there, is available by subscribing to the Ozzie Dispatch at Jurock.com

LIVE LIFE LARGE

  • The best time to make changes
    In my life was 5 years ago
    The second best time is today
  • I spend 15 minutes every day on
    powerful, clear intentions
  • Focus No Doubt Clarity
  • I state what I want with passion
  • I will grow into my future best!

Look up (BUY, while they last!) all of 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 2019 conference is just 3 weeks away. Sponsor a booth! (only 3 spots left) Here’s a real opportunity for youto display your services or products to an attentive 500 plus audience!  Go to reoutlook.ca

Please note that any response to any email or any invitation to any meeting is accepted on the understanding that “Jurock Real Estate Insider (JREI)” or the “Jurock Case Real Estate Action Group (JCREAG)” as the case may be, are not responsible for any result or results of any action or actions taken in reliance upon any information contained in this posting or meeting, nor for any errors contained therein or presented thereat or omissions in relation thereto. It is further understood that the said JREI and JCREAG, as the case may be, do not, pursuant to this posting, purport to render legal, accounting, tax, financial, planning or other professional advice. The said JREI and JCREAG may or may not own properties discussed at meetings or receive or not receive referral fees at any meeting you may attend as a result of this posting or invitation. The said JREI and JCREAG, as the case may be, hereby disclaim all and any, liability to any person, whether a purchaser of any offering, a reader of any offering, or, otherwise, arising in respect of this postings and of the consequences of anything done or purported to be done by any such person in reliance, whether whole or partial, upon the whole or any part of the contents of this postings. If you respond to any posting JREI and JCREAG fully expect that you get independent legal/tax/investment/mortgage advice as the case may be.

Subscribe

Subscribe to the FREE Hot Properties and Oz Buzz:

Product Special

By |2018-09-04T20:28:22+00:00September 4th, 2018|Oz Buzz|0 Comments

About the Author:

Ozzie helps members build an action plan toward real estate success with his Real Estate Action Group, arming investors with the best information and insights possible with his Jurock Real Estate Insider. More info OzzieJurock.com

Leave A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.