RE:RE:RE:RE:RE:RE:RE:Shake your divi maker.Rising inventories suggests bearish market trend.
We aren't talking blip, this is Major trend reversal.
Not sure where your optimism stems from.
Hopefully it's not Hopium.
That's a bad one.
Tell you something............................
One of my past jobs was building pensions.
I still consult and manage a few modest retirement portfolios.
Results have been respectable mostly because I detest excessive risk and I like to sniff value where others haven't noticed.
If you told me you borrowed $500k to buy Fortis, then I'd be cheering you on.
WFC was the most speculative holding I purchased during Pandemic.
Once BoD paid a $97mm dividend the company could not afford, we threw in the towel on this company - did so reluctantly because you and I both agree it's undervalued.
Unfortunately, stuff can remain undervalued for extended periods of time and it's often a symptom of a larger problem. In this case, I believe the undervaluation is the market recognizing mismanagement of capital - poor decisions being made by BoD. And I haven't even gone deep into BoD, my guess is that some of the "independent" board members may not be operating so independently from insiders.
If you can't sleep soundly while holding a business, then it ain't a business I'd choose to hold onto.
Remember, there were no buyers for WFC during pandemic. Well, yes, there was me.
Dribs and drabs in the $11's to mid teens.
Lonely times.
Those days are done.
I'll revisit if this thing gets to distressed values.
You're a much braver investor than me if you're betting the farm on this dark horse.
Might lose a few races before you get a big win.
Might take a few years, maybe a decade.
I'm more content spectating. This kinda racing is too risky for my tastes.
Game of poker?
wynner wrote: malx1 wrote: Not a chance.
Market flooded with listings.
Leveraged speculators being forced to refi at 5.5 to 6.0%.
There will still be the old money launderers, students and homemakers buying for daddy.
Tiff Macklem just quashed the RE bull. That game is over.
wynner wrote:
"Oh boy, if you're banking on rate cuts to boost free cash flow then you've got the wrong Financial Planner." Odds are that Tiff will cut rates by 1% THIS year. He's like. Take your marks..............get set............................. Watch real estate take off like Usain Bolt.
I averaged down and used my LOC on my house. No brainer.
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In April, the Greater Vancouver region recorded a total of 2,810 home sales, which represents an improvement compared to both March 2024 (2,396) and April 2023 (2,721), although it is below the 10-year April average (3,223). "It's a feat to see inventory finally climb above 12,000," said GVR Director of Economics and Data Analytics Andrew Lis. "Many were predicting higher inventory levels would materialize quickly when the Bank of Canada began its aggressive rate hikes, but we're only seeing a steady climb in inventory in the more recent data. The surprise for many market watchers has been the continued strength of demand along with the fact few homeowners have been forced to sell in the face of the highest borrowing costs experienced in over a decade."
https://storeys.com/greater-vancouver-real-estate-statistics-april-2024/