Comments on: U.S. Housing Bubble Popped? Are We Next?

By: Dave

Dave — Tue, 17 Jun 2008 05:05:58 +0000

JK, where did you get these numbers? According to Statistics Canada, the average home in Winnipeg went up 15% between March 2007 and March 2008, which doesn’t seem to match up with your numbers at all, unless this place is a big time outlier, or there is something you’re not telling us.

By: JK

JK — Sat, 17 May 2008 19:12:51 +0000

South Winnipeg Home
Price: $220,900
Beds: 3
Baths: 2
Sq. Ft.: 1,810
$/Sq. Ft.: $122
Lot Size: 40ft x122ft.
Age (Years): 10
Year Built: 1998
Sales history:
Date Price Appreciation
Jun 25, 1999 $230,000 >0%
Jun 15, 2005 $360,000 >50%
Apr 12, 2007 $480,000 >110%
Aug 07, 2007 $560,000 >150%
Listing history:
Date Price
Apr 10, 2008 $295,900
May 02, 2008 $220,900
Loss if sold for asking: $259965 or 54.1%
Comments: Here’s a highlight from the last report. Okay, so this one is in Winnipeg, MB, and it just got a new price cut and now the listing price is lower than its 1999 sales price of $230,000! Considering inflation and such in the last 9 years, $230,000 in 1999 is worth considerably more than $220,900 now. We will see if this happens in the rest of Canada!

By: Doug

Doug — Sat, 17 May 2008 19:11:58 +0000

I would like to share an experience I recently had selling my home in Winnipeg, MB. My house was listed for $159,900…….double what I paid 4 years ago. The agents had one open house and then offers were accepted the following night. There was only one offer and it was well under list. My agent told me I should expect more then my list so when I saw this I was surprised but then he told me not to worry. I could not believe what happened next. Both Agents, (listing agent and selling agent) sat at my kitchen table and phoned the buyer with some bad news. The buyer was told that there was another offer (“A Phantom Bid”) which was a total lie, but who was I to say anything. These young buyers got nervous and offered $200,000 for a 60 year old-800sqft bungalow. WOW I was amazed and shocked……very happy to have made that much money but a feeling of guilt. How can this be legal??????? I watched these agents bamboozle this poor buyer until they were willing to pay way to much for my home…….oh well young, greedy, uneducated buyers seem to rule the market. As for me, I paid off my tiny mortgage and will be buying a brand new house just as soon as the market crashes…….maybe I’ll buy two houses.

By: 1mil

1mil — Tue, 25 Apr 2006 09:49:24 +0000

I’m looking to get my first house soon so the timing of this bubble couldnt have been better. An earthquake in California would send prices tumbling as people tend to flee and avoid disaster areas. Thats kind of twisted, but still who wants to buy a home in nebraska?