We are paying for our past sins
O'Neil makes those types of comments so that the 25,000 plus members of the Toronto Real Estate Board do not all quit the business at once. We all know better, but she says what she has to say. The market has been totally out of control for the past several years. Buyers would pay practically any price if they wanted a particular house. Now things are different and those who bought a home at any price are forced to face the music. Sanity will return, and every indication is that it won't be any time soon. When go all go on "drunken sailor's binge", we end up paying for it soon or later.
Posted By JohnToro at 6:45 PM Thursday, November 20 2008
Agree |Disagree |Offensive
Irresponsible and Unprofessional
If you look at the TREB's website where they post their bi-monthly press releases you will see TREB has been spinning tales all year long. Blaming everything from snow falls to now CNN. I think it's very unfortunate that an organization with such access to market resources and their own stats would resort to this.
Posted By EastResident at 5:47 PM Thursday, November 20 2008
Agree |Disagree |Offensive
Dangerous Market
All the economic fundamentals are sound? No way! This is what you get when you put Sarah Palin in charge. The economic is too weak and volatile to make a commitment as big as purchasing a home. Even if one has a stable job, the chance of buying a home today; putting down a reasonable down payment; and be under the water in the very near future is just too great. Bizarre how O'Neill mentioned "I don't think people will see HUGE declines from here in their house prices…” Given the steady increase inventory of unsold homes combined with sharp decline of number of homes sold; in addition the increase time homes are remaining on the market (41 days now versus 31 days in 2007), one must wonder, instead of relying on the actual data that, ironically comes from her own press release, what O'Neill is basing her theory on. But I think O'Neill was very careful when she used the word “huge”. Essentially she is saying when the prices decrease; it is just simply a decrease – not a “huge” one.
Posted By gomonova at 3:54 PM Thursday, November 20 2008
Agree |Disagree |Offensive
Positive outlook
I personaly agree with O'Neil , people will buy and numbers will go back .We have to stay positive ! Is not it enough of negative inflated news out there !Why dont you look at this market as an opportunity for a lot of people to become a homeowners with such a low intreset rate . Do not forget its not only a price of the home important , but how much is your mortgage as well .What about 11% or 18 % of mortgage , that people have paid in 90th . By being negative and mad will not help us to get out from the situation we are in.
Posted By Iryna Galevska at 1:46 PM Thursday, November 20 2008
Agree |Disagree |Offensive
fundamentals are not strong
O'Neil is trying her best to hold the fort but it's futile. She seems out of touch with what's going on in the real world and doesn't seem to know or understand what economic fundamentals mean. People will not start buying any time soon when there are job losses and uncertainty in the market. My company is about to close up shop and over 100 jobs will be lost in the GTA, tell me how we have a strong fundamentals?. Everytime she says something it sounds more and more ridiculous, uninformed, misleading and quite frankly, unprofessional.
Posted By BobSaccamano at 10:54 AM Thursday, November 20 2008
Agree 6|Disagree |Offensive
o'neil is a joke
people, the faster you quit listening to o'neil the more money you will have in your pockets. Her comments are irresponsible and will only put people in larger debt if they listen to her. THE HOUSING MARKET IS INFLATED period. The market started slowing down earlier this year, prior to the problems we are facing today. A townhouse I sold in May for $272k is now fetching $240k at best. The market will decline alot more, We will probably see prices as we seen back in the early 90's..the economy has far more issues this time then back then. Don't hate but appreciate my comment.
Posted By king dudley at 10:20 AM Thursday, November 20 2008
Agree 5|Disagree |Offensive
houses inflated
it's about time we see some adjustment here, houses should not increase anymore then inflation. This 10% increase yoy was nonsense..whoever believed that this trend was to continue needs to learn basic economics.
Posted By king dudley at 9:32 AM Thursday, November 20 2008
Agree 6|Disagree |Offensive
O'Neill's comments are wrong and irresponsible
O'Neill is completely ignoring the fundamentals of this current economic cycle. She is giving the impression that this market will turn around and continue climbing imminently. She states,"...but the market's not going up yet" and "we'll see the numbers go back up". This could take a very long time, given the global recession from which Canada is certainly not immune. Her comments are irressponsible and plainly wrong.
Posted By GreatMedia at 8:59 AM Thursday, November 20 2008
Agree 4|Disagree 1|Offensive 1
earth toTREB earth to TREB
I can only wonder how Brett could stop himself laughing while interviewing Maureen O'Neill saying the economic fundamentals are sound but its just bad old CNN stirring up troubles. I suggest Ms O'Neill get in her car and drive to Oshawa or Oakville and ask autoworkers if the fundamentals are sound. She then my want to talk to some Bay Street types. Finally she may want to ask some media types who work in place like Global or CTV. Ms. O'Neill's power of positive thinking may (or may not) work in a sales meeting...but as a comment to the media, she conveys the message that realtors are just sleazy sales people not to be trusted
Posted By dogguy at 7:52 AM Thursday, November 20 2008
Agree 4|Disagree 1|Offensive
My prediction
I am not a real estate agent, but I predict that there are going to be a lot of empty homes up for sale at very cheap prices, in the future. When people lose jobs, as many are, in every sector, and can no longer afford some of the huge mortgage payments some of them have taken on, they will simply "walk away" and let them be repossessed.
Posted By Mrs. McWho at 6:59 AM Thursday, November 20 2008
Agree 4|Disagree 1|Offensive
"all the economic fundamentals are sound"
head for the hills when you hear that**
Posted By gonzo at 6:38 AM Thursday, November 20 2008
Agree 4|Disagree 1|Offensive
simple math
If transactions go up 50% from 2006 to 2007 then they have to come down 30% from 2007 to 2008 to be back at the same level as 2006. So if transactions are really up 24% from 2006 then they should be down less than 24% (not at 44%) from 2007 to balance things again. The land transfer tax was not the whole reason. Someone needs to go back to school for some remedial math.
Posted By Richard L at 6:15 AM Thursday, November 20 2008 |
楼主: 阿强
狗仔卡
楼主
显身卡
发表于 2008-11-20 19:04:34
