There are 337 new listings and 197 sales, for sell/list 1.71%
Inventory is 11,861, while over 90s reached 2,712, or 4.37%.
Filed under Daily Numbers
Chan, I’m not the first to mention this, but you’ve been calculating your percentages wrong. Sell/list is 197 / 337 * 100 = 58.46%; over 90s are 2712 / 11861 * 100 = 22.86%. Aside from that, thanks for keeping the numbers going.
thx for the #’s!
Beware of banks’ bragging on earnings
Think the credit crunch is over? Think again.
Canadian banks at risk of catching American cold
Retailers to play Scrooge despite soaring loonie
Chan – Thanks for posting the numbers. Could you please inform us how you are calculating the percentages? There is a lot of confusion around here since the sell-list percentage numbers look a bit off.
U.S. Housing Starts Slide to Lowest Level Since 1993
Annon, yesterday you posted a link to a rent/buy comparison calculator. It linked to the New York Times and the calculator was for Americans. Americans can use the interest on their mortgage as an income tax deduction and if you look under “methodology” it explains that it does use the interest as a deduction. If you want a good Canadian rent/buy calculator go to the Vancity website, they have a useful one. Or google “Government of Canada rent buy calculator” and you’ll find another. Sorry, I tried to include the links to the calculators in this post, but WordPress wouldn’t accept it. Using these Canadian calculators you’ll probably find that you have to own for much longer to make it financially worthwhile.
Is it true that if a deal falls apart the realtors get paid out of your deposit?
Ie. You sell your place for $600K you take a $30K deposit. The deal does not close. The realtors take their commission out of your $30K even though the deal did not close and they didn’t make a sale?
In this case with the standard 7%/2.5% you would only get $11K out of your 30K.
Could this possibly be true? Can a realtor get paid even if they didn’t actually sell anything?
VHB, here’s how he’s calculating:
Sell/list % = listings / sales (= 337 / 197)
Over 90s % = Inventory / over 90s (= 11861 / 2712)
So if you want to convert from “Chan factors” to the real percentages, take his values, invert them, and multiply by 100.
I don’t think he’s reading the comments, so until Rob’s back, I guess it’s up to the first commenter to post the correct numbers.
VHB – Chan is just inverting the numerator and denominator – ie. giving us a list:sell ratio (ie. 1.71, or 171%) instead of the sell:list. Just do a 1/x on the calculator to get the sell:list (0.58, or 58%).
Not sure why this is causing so many problems for people… (not directed at you VHB).
Coco, thanks for the retailers play scrooge link. Not surprising…no retailer is going to let decency get in the way of greed or profit. It’s sickening. I will be buying most of my items from the U.S. – clothes, cars, electronics etc. I think the only thing I will buy here is groceries and …um… yeah… 🙂
Oh, liking the Bear numbers! Thanks for posting! Beware the Bear!
Thanks FTB. I will look at the links you mentioned later tonight.
From Mish Shedlock :
The Housing Bubble
The housing bubble in the US is well known, but the bubble in Canada, the UK, China, and Spain is just as big (if not bigger) than the bubble in the U.S. In particular, the bubble in Vancouver is as massive as the bubble in Florida or California ever was. Vancouver housing prices are destined to crash. Don’t ask me when, but only fools are buying at these prices. The housing bubble in Australia was the first to start deflating.
I think either Rob is teasing us or his associate is really incompetent!
I think Shanghai’s RE pricing is still worse than Vancouver’s but even the rich Chinese want a place inVancouver as refuge.
“I think either Rob is teasing us or his associate is really incompetent!” Well I have had to assume it’s a grade 5 kid doing this, only way I can be understanding. If this is a realitor I believe that all certification for all realitors should be immediately revoked. 🙂 My reasoning is even volunteer work should be somewhat researched and of some value. I wish the submitter of the numbers well in the last years of their preliminary education, and if you are indeed a grade 5 student good on you!
Coco and paulb – thanks for the links!
i agree with Strataman.
it’s done by a grade 5-7 student.
good job, well done.
LOL! from one grade 5 student to another.
” Well I have had to assume it’s a grade 5 kid doing this, only way I can be understanding. If this is a realitor I believe that all certification for all realitors should be immediately revoked.”
this will sure leave a black mark on Rob’s RE agency…
“LOL! from one grade 5 student to another. ” Thanks Paul! Nice of classmates to stick up for each other! 🙂 Reminds me of the good old days!
Oh my god, you people are ridiculous. For all we know, its his secretary posting the numbers, and he/she probably doesn’t know, or care, what the significance of the number are, or why you would want to see a list/sell as opposed to a sell/list… For that matter, are you people so retarded that you can’t just calculate the list/sell yourselves? Give me a break.
Cut the guy some slack – thanks for the #s – only a moron would not get their implication – rising inventory and lower sales!:))
Come on folks, Aaron is doing his best.
Give it a rest. Rob probably left instructions to post # listings, # sales and listings to sales ratio and we’re getting just that. And it’s great, thanks! Do you really need someone else to calculate the % for you?
Rob hopefully also left instructions for the poster NOT to read the comments. We’ll know that the poster read the comments were read, when the posts stop.
These comments the past few days make me embarrassed to be a blog reader.
Add my voice to the previous four commenters. Anyone complaining about Chan and the quality of information on Rob’s FREE site (as opposed to the substance of his thoughts) should get a grip. What is it about the internet that breeds assh***s?
Is this Chan working for Rob’s agency?!!!
This doesn’t reflect well on Rob’s team…
Rob seems like a smart guy, but he need to teach some basics to his prodigy.
Don’t feed the trolls, “I want to know”, etc.
Countrywide’s CEO probed by SEC
Bank Of America 3Q Net Down 32%; Shares Slump
Rob could charge a small subscription fee for these numbers, and I bet a lot of people would sign up.
U.S. Initial Jobless Claims Rose 28,000 to 337,000 Last Week
The global credit crunch is taking a toll on Canadian banks’ balance sheets, and has prompted lenders to curtail their credit, the Bank of Canada says.
Turmoil could cause a global credit crunch, IMF warns
Basel II about to descend on Canadian Banks
High Canadian dollar may hit wages
good news gathering!
from your 7:48 posting:
Banks are raising the price of credit for both companies and households……….
……..in addition to raising short-term credit rates, banks are also increasing covenants on new loans, or reducing the number of new loans………..
I’m sure this will support ever increasing prices here in lalaland……
Foreign investors unload Canadian securities
Bonds are rising (will mortgages go up again?)
Oil almost hits $89 (adds to transportation costs, food, etc.)
Canadians bailed out of foreign securities at a record rate in August amid turmoil on stock markets and the summer’s credit crunch, the federal government said Thursday.
Canada’s economy starting to cool: BoC
Credit-rating agency DBRS Ltd. suggested for the first time Wednesday that some of the assets underlying the frozen portion of Canada’s commercial paper market are at risk because of its ties to the controversial U.S. residential mortgage-backed security market.
who knew what and when did they know it?
BMO could face writedown due to commercial paper exposure
(got BMO with commercial paper? get out)
bmo will take aggressive writedowns Q4
The risk associated with commercial paper rollovers is that you could be frozen out. I assume BMO can absorb it, but that remains to be seen.
for those who are waiting for the vancouver housing crash, it might come tonite as the storm approaches us!
reality bitch slaps us and mother nature pisses on our head…..
your quintessential “perfect storm”
Special mention for Vancouver over at Mish’s place:
The point here is that housing bubbles are practically everywhere you look. So the housing bubble per se is not a cause of the dollar’s weakness. However, the Fed’s response to the collapsing bubble (lowering interest rates) is another matter. We will get to that shortly.
dude thats so yesterday…
China’s Bid to Tame Economy Begins a Real Estate Bust
“Yi Xianrong, a finance and banking researcher at the Chinese Academy of Social Sciences, a government-affiliated research institute, worries that China’s subprime mortgage problem is worse than that in the United States because banking laws are still being written and a credit rating system doesn’t exist.”
Bank of Canada sees no rate change through 2009
Bank of Canada says housing stronger than expected
#s se vous plait
ya hook up the digits. we should be at 12k by tomo
I remember VHB once followed the Downtown and FCN # of listings and at the time there were 500-600 listings. I too follow these numbers as I work this area. In August there were 400 listings and at this moment there are 562 listings and growing every day.
People at one time tried to predict when the # of listings would hit 1,000… but it never happened.
Do people want me to provide updates on this number?
Jeff, if you could post the numbers for your area that would be great. Let the race to 1 000 begin!!!
Seattle-based Washington Mutual, the nation’s largest thrift and third-biggest home lender, reported a 72 percent drop in third-quarter profits.
Mortgage meltdown leads E-Trade to $58 million loss
Oil closes at $89.47 another record high
Canada credit market fix may drag on – Dodge
Commercial paper and how it works
“A bank packages a collection of mortgages, credit card balances, or lines of credit into an ABCP that matures in 30 days. – The bank sells ABCP for a fee to an intermediary that assumes all the risk associated with the underlying assets. – The intermediary sells pieces of the ABCP to investors, including pension funds, corporations or individuals. – Investors are paid interest and assume there will be a buyer for their piece of the ABCP after 30 days. – For a fee, the bank supplies funds to buy the ABCP if there are no other buyers – in Canada, this feature did not work in August when investors could not find buyers.”
(so when you withdraw your funds out of a money market fund that has commercial paper in it the bank will ask you why your withdrawing, all withdrawals are reported to their head office. If they can’t find new buyers for the commercial paper, then the bank covers the amount you withdraw)
Keep in mind that money market funds (or any mutual funds) are not insured by by the Canada Deposit Insurance Corp. (CDIC). GICs and bank accounts are.
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