What?????????????

You don`t trust realtors??

I've seen reduced signs driving around town and that tells me a dirfferent story.

I think overall sales this year are down from last year as well even though houses that have sold were for 40% premium over last year.

It seems to me that the story has been sold well to a few that their home is an investment that will grow at 40% a year, but only if you get onboard now before it grows another 40%.

With 50 year mortgages it looks more and more like subsidizing the falling real income of your average citizen with home equity financing indebting a future to interest payments.

At some point home equity financing does not exist because no one can afford a first time home, driving down the asking price on resale, and then the bubble crashes bankrupting all those who have over extended their investments into their home.

I find it interesting that not a single home builder in PG will currently build a house for under $300,000. I know old people who would like to downsize to a smaller home and young people who would like to afford a first home. Those kinds of new homes seem to be a thing of the past in Prince George.

"The hot market that sparked this cartoon is washing out in the lower mainland faster than a wave on a beach." LOL

It amazes me to read such interpretations when condos are selling at $1,000 / sq ft. Get back to us on your assumptions when the prices drop, not just an 8% roll back on record volumes.

Wait until interest rates go up again-and people have a mortgage to renew. All of a sudden their income cannot stretch for the added expense.
What to do?
If in for the very minimum down, consider it all as rent-and scoot out, leaving the mortgage company or bank holding the property.
Will not hurt the city-they will still collect utilities and taxes-and insurance companies will get insurance premiums. No loss there.
But wait-someone will get employment, as these repossessed homes require caretaking!
Did I mention-after holding them for a period and paying the high costs of heating in winter in the north, and the water, sewer, garbage fees-well, glory be-prices drop. Some people get in with nothing down-and low payments.
If you buy now at a high price-you can surely be the loser.
If you wait and scoop a deal-you are a winner.
As has been proven-time after time-history repeats itself.
It really is a vicious circle.

When the market is hot, time to get out. When it cools down, time to get in. Where are we right now? Hot market. So, what are the masses doing? Time to do the opposite. Chester

All this Real Estate crap is a sham. The City boosters Ie; City Hall, Real Estate Co., Rotary, Chamber of Commerce, Tourist Bureau, etc; all continually tell you how things are booming. But rarely or ever give you any concrete examples.

House Sales:: Who buys and who sells, and who builds, that is the question:

There are just as many people leaving Prince George as there are people moving in. The majority of moves by moving companies are within the City. Therefore we can draw some conclusions.

(a) Some people are selling their houses and building new ones.
(b) Some renters and 1st time home owners are buying the houses being sold by those people building new homes.
(c) Some people are moving in and buying houses, and
(d) Some people are moving out and selling their houses.

With house prices on the rise a lot of people who were waiting for higher prices are now selling and hitting the road.

There is no boom in the City. Some mills have gone to three shifts to increase production and sell as much pine beetle timber to the U.S. as possible and of course this means increased, logging, and more jobes, however it could hardly be called a (Boom)

Building a few box store on Highway sixteen is hardly a boom. In fact each time they build one some other business in the City takes a hit and goes broke.

If you have a house to sell, now is the time. This time next year may not be so good. Lumber prices are falling, and next comes the reduction in shifts, and then the layoffs.