Kamloops Real Estate, Comparative Analysis by Property Type, September, 2008.

Here is the latest Kamloops Real Estate, Comparative Analysis by Property Type for September, 2008. Supplied by the Kamloops & District Real Estate Association. With this chart you can get an idea of what property types are: Active listings, newly listed, # of units sold and the value of those units. These totals are down a bit from last month.

A quick summary for total residential active, new and sold listing for September 2008 for Kamloops and surrounding areas:

Residential # of active listings 1853
Residential # of new listings 428
Residential # of sold listings 200
Value of sold units $57,937,337

kamloops-comparative-analysis-by-property-type-september-2008 pdf

Kamloops Real Estate MLS Listings Comparative Analysis by Property Type, September, 2008

Kamloops Real Estate MLS Listings Comparative Analysis by Property Type, September, 2008

Canada may face housing bust: Robert Shiller

I hate to keep bringing bad news to the blog. Of course this is just another opinion. Robert Shiller is predicting that real estate markets in Calgary and Vancouver will be hurt the most if there is a serious down-turn in housing prices.

Canada may face housing bust: Robert Shiller

The Canadian housing market could face a similar housing bust to the United States, particularly in more bubbly markets as Vancouver and Calgary, said Robert Shiller, the Yale University professor who predicted both the 1990s stock market boom and bust and the US housing slump.

Mr. Shiller, co-founder of the S&P Case/Shiller Home Price Index, said psychology is the primary driver of bubbles and it appears that Canada has been caught up with home buying fever just as the United States and other countries around the world.

Asked whether that meant Canada could face a similar bust Mr. Shiller said: “Yes, especially in places that went up a lot like Vancouver and Calgary. I don’t think Toronto has been quite as extreme.”

Mr. Shiller said there was a natural connection between the United States and Canada.

“I would be surprised that the bubble that appeared in the United States and elsewhere didn’t appear in Canada,” he said in an interview with the Financial Post. “It’s psychology, I think that drives it.

Mr. Shiller, whose book Irrational Exuberance came out in March 2000 just as the tech bubble peaked, said it was essential for the U.S. government to pass a financial bailout, though he believes the United States is facing a “severe recession,” regardless.

“I’m concerned problems are deeper than can be handled by the bailout but that doesn’t mean the bailout doesn’t do some good,” he said.

He said a bailout might help restore some confidence to the stressed financial system.

“What creates a crisis is a lack of confidence,” he said.

He said the housing crisis was primarily a policy failure by U.S. authorities.

You can read the rest of the story below.

Link

No tolls on Coquihalla Highway.

Coquihalla Toll Booth

I still can’t believe it! The tolls on the Coquihalla are no more. I think this is great news for Kamloops and all the the surrounding communities that are serviced by the Coquihalla. It’s very beneficial to tourism and it may affect Real Estate prices in Kamloops over the long haul. Now people have one more reason to make the trip to the Loops!

“It took almost two decades from the project’s completion, but Premier Gordon Campbell is finally lifting tolls on the Coquihalla Highway, effective immediately.”

Link

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