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Re: Really
From: Peter Rychel (dino308gt4hotmail.com)
Date: Wed, 4 Apr 2018 11:44:29 -0700 (PDT)

These posts literally describe what is happening up here too.

 

Although as Fellippe mentioned, there’s no real drop, only plateaus and we’re in one right now. One of the guys in the car club is a realtor, and is Asian, so has a great grasp of what’s going on. Basically, we’re in a buyer’s market with the very high end at it’s peak and in some cases, past it. Most of the off-shore buyers don’t care that much to make money, their primary goal is to ship it out of China altogether. There is some clamping down right now over there, so whatever property they have in Vancouver, they’ll either just sit on it, or cash out and downgrade (further out in the Fraser Valley, east of Vancouver). There’s lots of growth in the mid-range market and out here in the Valley.

 

Thing is, historically, prices have NEVER dropped, or even plummeted in this region and it literally can’t because of geology. We have the Pacific Ocean to the West, insurmountable mountains to the North, the U.S. border to the South and the Fraser Canyon to the East. The only place to add more homes is remove the “Agricultural Land Reserve” (a 1970’s creation of the socialist NDP government and is their holy grail), or build up through condos (and that’s what they’re doing now).

 

Every measure government takes only causes more problems, or even makes prices jump up! Happened last year when they introduced an increase on tax after every increase of $500K of home price. Just before it was implemented, there was a run on purchases and bidding wars! Stupid people were probably spending as much on a pumped up home price than if they waited and paid the increase on tax anyways! This year they introduced a “speculation tax” as a measure to curb overseas buyers from pumping up prices, but it only affects certain regions... As it doesn’t specifically single out overseas buyers, domestic residents who have vacation homes, or second homes for work or renting out are getting nailed too!

 

Oh yeah, on Sunday they increased our Carbon tax too, to encourage less automobile use. Happy April Fool’s!

 

Peter

 

Sent from Mail for Windows 10

 

 

From: Ferrari <ferrari-bounces+dino308gt4=hotmail.com [at] ferrarilist.com> on behalf of Rick Moseley <ramosel [at] pacbell.net>
Sent: Wednesday, April 4, 2018 8:56:18 AM
To: PeterGT4
Cc: The FerrariList
Subject: Re: [Ferrari] Really
 
No one, regardless of income, likes to live where the waft of human feces is ever present and you have to wade through spent needles to take your kid to preschool. There is already a sell off and now with the Bay Area online tech industry beginning to take a beating...
So good luck attracting buyers to a $4M loft in SF when you have to have a map of where the shit in the city is to get to it.  Not a joke.  Not a "myth" as many are now claiming.


Your prices are too low.  My kid (the IP lawyer) is trying to get out of a 40 year old $1.6M 3br in Redwood City she bought 2 years ago.   The buying frenzy has already slowed.

And the wealthy are leaving...   for now I am staying in the Sierras and pushing for the State of Jefferson.   But Montana is starting to look real good.








From: Fellippe Galletta <fellippe.galletta [at] gmail.com>
To: Rick Moseley <ramosel [at] pacbell.net>
Cc: The FerrariList <ferrari [at] ferrarilist.com>
Sent: Wednesday, April 4, 2018 7:48 AM
Subject: Re: [Ferrari] Really

Prices are going to drop?

You mean $1.2 million for a s***box 2 bedroom, 2 bath home instead of $1.4?

:)

FG

On Wed, Apr 4, 2018 at 5:45 PM, Rick Moseley <ramosel [at] pacbell.net> wrote:
If the liberal leadership doesn't do something about the mess they have allowed to develop in SF, prices ARE going to drop.  It has become a shithole in many places and its spreading. (no hyperbole, literal)


From: Fellippe Galletta <fellippe.galletta [at] gmail.com>
To: Rick Moseley <ramosel [at] pacbell.net>
Cc: The FerrariList <ferrari [at] ferrarilist.com>
Sent: Wednesday, April 4, 2018 7:32 AM
Subject: Re: [Ferrari] Really

There's no real crashes in NYC real estate.....just extended plateaus. Same with SF and a few other places.

No Clyde prices in the 718 and 212 area codes....



On Wed, Apr 4, 2018 at 2:33 PM, Clarence Romero Jr. <clyderomerof4 [at] gmail.com> wrote:
That mind set will eventually come down crashing 
It’s already happened in the NYC market will real estate 
I am just a glad the Canada put a surcharge on purchases on foreign investment 
That’s a start 


     RF4-4EVR

Scars are Tattoos with better stories !

If you have no enemies, you have no character !

Clyde Romero    


Confidentiality Notice:  This e-mail ( including attachments ) is covered by the Electronic Communications Privacy Act, 18 U. S. C., Sections 2510-2521, and is intended only for the persons or entity to which it is addressed, and may contain confidential or privileged material.  Any unauthorized review, use, disclosure, dissemination, copying, forwarding or distribution is prohibited.
This email transmission, and any documents, files or previous email messages attached to it, may contain confidential information that is priviledged.  If you are not the intended recipient, or a person responsible for delivering it to the intended recipient, you are hereby notified that any disclosure, copying, distribution or use of the information containes in or attached to this message is STRICTLY PROHIBITED.  If you have received this transmission in error, please immediately notify us by reply e-mail at Clyde.romerof4 [at] gmail.com or  by telephone at (678 6419932)and destroy the original transmission and its attachments without reading them or saving them to disk.

On Apr 4, 2018, at 1:45 AM, Peter Rychel <dino308gt4 [at] hotmail.com> wrote:

Or just real estate in Vancouver (skip luxury, even crack-house dumps pull high six figures. 70+ year old war-time tear downs in the city of Vancouver pull millions).
 
As much as I think it’s nuts, I can see myself cashing in and getting out in a couple of year’s time. Getting too crowded and continually taxed (boggles the mind why my “neighbors” keep voting in socialist gov’ts...). Why fight it and complain?
 
But that’s the thing, there’s always some people who are willing to participate, whether it’s cars, art, RE, etc... Too much money out there, gotta spend it some where. Can you blame the owners of the desirable objects in question? Might as well squeeze as much as you can out of your buyers while the squeezing is good.
 
Peter
 
Sent from Mail for Windows 10
 
 
From: Ferrari <ferrari-bounces+dino308gt4= hotmail.com [at] ferrarilist.com> on behalf of Erik Nielsen <judge4re [at] gmail.com>

Sent: Tuesday, April 3, 2018 3:12:49 PM
To: PeterGT4
Cc: The FerrariList
Subject: Re: [Ferrari] Really
 
Follow the money, it is no different than luxury real estate...

On Apr 3, 2018, at 6:49 AM, Clarence Romero Jr. <clyderomerof4 [at] gmail.com> wrote:

Erik you really think so
Considering most of the purchases are out in the open so to speak with the party’s known
It’s very rare that you see an anonymous bidder, even then it always comes out who it was.



     RF4-4EVR

Scars are Tattoos with better stories !

If you have no enemies, you have no character !

Clyde Romero    


Confidentiality Notice:  This e-mail ( including attachments ) is covered by the Electronic Communications Privacy Act, 18 U. S. C., Sections 2510-2521, and is intended only for the persons or entity to which it is addressed, and may contain confidential or privileged material.  Any unauthorized review, use, disclosure, dissemination, copying, forwarding or distribution is prohibited.
This email transmission, and any documents, files or previous email messages attached to it, may contain confidential information that is priviledged.  If you are not the intended recipient, or a person responsible for delivering it to the intended recipient, you are hereby notified that any disclosure, copying, distribution or use of the information containes in or attached to this message is STRICTLY PROHIBITED.  If you have received this transmission in error, please immediately notify us by reply e-mail at Clyde.romerof4 [at] gmail.com or  by telephone at (678 6419932)and destroy the original transmission and its attachments without reading them or saving them to disk.

On Apr 3, 2018, at 7:05 AM, Erik Nielsen <judge4re [at] gmail.com> wrote:

Ah, money laundering 301...

On Apr 3, 2018, at 6:00 AM, Clarence Romero Jr. <clyderomerof4 [at] gmail.com> wrote:

Ok so if you are seeing what I sent all of you these paintings brought millions 
Because someone said this is art
Those of you fortunate to have grandkids like myself have potential millions 
Because any 3 year old can do this

The same with the older cars
Some self professed expert who wouldn’t know a vise grip from a box end wrench says
 This car is magnificent!
Hence you have GTO’s going for insane money just like the idiots who bought the art scribble 


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     RF4-4EVR

Scars are Tattoos with better stories !

If you have no enemies, you have no character !

Clyde Romero    


Confidentiality Notice:  This e-mail ( including attachments ) is covered by the Electronic Communications Privacy Act, 18 U. S. C., Sections 2510-2521, and is intended only for the persons or entity to which it is addressed, and may contain confidential or privileged material.  Any unauthorized review, use, disclosure, dissemination, copying, forwarding or distribution is prohibited.
This email transmission, and any documents, files or previous email messages attached to it, may contain confidential information that is priviledged.  If you are not the intended recipient, or a person responsible for delivering it to the intended recipient, you are hereby notified that any disclosure, copying, distribution or use of the information containes in or attached to this message is STRICTLY PROHIBITED.  If you have received this transmission in error, please immediately notify us by reply e-mail at Clyde.romerof4 [at] gmail.com or  by telephone at (678 6419932)and destroy the original transmission and its attachments without reading them or saving them to disk.
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