Home buying - 300K house or 400K house
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Posted on: 06-03-11 14:14:24
Quote:
Originally posted by rahul_singh23
Toronto condo market is near its saturation point and looks set for a fall.
http://financialinsights.wordpress.com/2011/03/02/more-signs-of-a-coming-condo-glut/
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I know two families who want to get out from RE but can not as they bought in 2007/2008. They are under 50K+ negative equity without Realtor commission. There are HELOC and luxury toys from home ATM machine.
sub-prime did not bring USA to knees but negative equity and no saving. But Real Estate board are still selling to half brain people that negative equity does not matter as long as you are paying bills, March 18th deadline, BOC did not change rates. Everybody makes money upfront in RE transaction so who cares long term.
2nd half of 2011 market will be interesting.
Rahul
Till commodity market is in high demand. Canada is okay. See how oil prices have rise recently. I think it is good for canada. Oil, Gold , rare earth metals( used in latest electron gadgets) . They will be in high demand. China & india are in 9-10% growth rate drive. 2 trillion dollar india ecomany will be 6 trillion within 8-9 years. The need for more energy and so will keep the canada fine. Thier may be small time corrections. But in long run for 10 years. No going back on house prices
(Punjabi translation )
ਰਾਹੁਲ,
ਜਿੰਸ ਤੱਕ ਬਾਜ਼ਾਰ ਉੱਚ ਮੰਗ ਵਿੱਚ ਹੈ . ਕਨਾਡਾ ਠੀਕ ਹੈ . ਵੇਖਿਆ ਕਿ ਕਿਸ ਤਰ੍ਹਾਂ ਤੇਲ ਦੀਆਂ ਕੀਮਤਾਂ ਵਿੱਚ ਹਾਲ ਹੀ ਵਿੱਚ ਵਾਧਾ ਹੋ ਰਹੀ ਹੈ . ਮੈਨੂੰ ਲੱਗਦਾ ਹੈ ਕਿ ਇਹ ਕਨਾਡਾ ਲਈ ਅੱਛਾ ਹੈ. ਤੇਲ ਸੋਨਾ , ਅਨੋਖਾ ਧਰਤੀ ਧਾਤਾਂ ( ਇਲੇਕਟਰਾਨ ਨਵੀਨਤਮ ਸਮੱਗਰੀਆਂ ਵਿੱਚ ਪ੍ਰਯੋਗ ਕੀਤਾ ਜਾਂਦਾ ) ਉਹ ਉੱਚ ਮੰਗ ਵਿੱਚ ਹੋਵੇਗਾ. ਚੀਨ ਅਤੇ ਭਾਰਤ 9 - 10 % ਦੀ ਵਾਧਾ ਦਰ ਡਰਾਇਵ ਵਿੱਚ ਹਨ . 2000000000000 ਡਾਲਰ ਭਾਰਤ ਮਾਲੀ ਹਾਲਤ 8 - 9 ਸਾਲ ਦੇ ਅੰਦਰ 6000000000000 ਕੀਤਾ ਜਾਵੇਗਾ . ਜਿਆਦਾ ਊਰਜਾ ਅਤੇ ਇਨ੍ਹੇ ਲਈ ਦੀ ਜ਼ਰੂਰਤ ਹੈ ਕਨਾਡਾ ਠੀਕ ਰੱਖਾਂਗੇ . ਉੱਥੇ ਛੋਟੇ ਸਮਾਂ ਸੁਧਾਰ ਹੋ ਸਕਦਾ ਹੈ
ਲੇਕਿਨ 10 ਸਾਲ ਲਈ ਲੰਬੇ ਸਮਾਂ ਵਿੱਚ , ਘਰ ਦੀਆਂ ਕੀਮਤਾਂ , ਵਾਪਸ ਨਹੀਂ ਜਾ ਰਹੀ
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infocan
”I should be very worried about Canada” -Paul Krugman
http://financialinsights.wordpress.com/2011/03/05/i-should-be-very-worried-about-canada-paul-krugman/
Housing overvalued, BMO warns
http://www.cbc.ca/news/business/story/2011/03/03/bmo-housing.html
California's economy is same as Canada in size and better weather and world most tech industry, Hollywood and world's wonderful cities. But people's debt and their House ATM machine broke them. Oil was $40 and $60-65 pretty long time in last two years. It's more about speculation and commodity holdings than fair demand/supply of oil. Same holds true in Real Estate..speculation. How does oil price help 150/100 debt ratio people? That is highest in western world.
How many people we know who got big bonus by oil & gas higher price? But we may know the people who are struggling because of higher food and transportation price.
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There is 5 SFH open house in our small community on weekend. There is a house that sold 2 times in last 3 yrs that started from 850K when I saw first time in open house. Same house and no change was priced $750k second time and this weekend it was $689K. I think $650K offer will be accepted in this market. 200K (+ Realtor's commission+misc. cost) loss in last 3 yrs and that is after tax.
But people have seen 15%-30% investment return after crash. Crash is a time for investment and Canadian RE will be good investment soon.
Quote:
Originally posted by infocan
Rahul
Till commodity market is in high demand. Canada is okay. See how oil prices have rise recently. I think it is good for canada. Oil, Gold , rare earth metals( used in latest electron gadgets) . They will be in high demand. China & india are in 9-10% growth rate drive. 2 trillion dollar india ecomany will be 6 trillion within 8-9 years. The need for more energy and so will keep the canada fine. Thier may be small time corrections. But in long run for 10 years. No going back on house prices
(
Quote:
Originally posted by rahul_singh23
How many people we know who got big bonus by oil & gas higher price? But we may know the people who are struggling because of higher food and transportation price.
(
I think you are confused on my suggestion on high oil price as a benefit to Canada. A High oil price in Canada is due to local federal & Local Govt taxation policy, Not all because of international Oil price.
Exporting oil at high price internationally fill the coffers of the Govt and reduce debt .
By the way, have a look around for public transport option for work, (in case you are so worried about daily transportation cost of car) At least GTA has some Good Bus service introduced in form of ZUM & VIVA at 7.30 minute frequency. I use it daily to go to work. Ticket is dirt cheap at 2.50 dollars with “ticket transfers” that can take
you all the way in 2 hour drive distance In York & TTC areas from Brampton.
ਮੈਨੂੰ ਲੱਗਦਾ ਹੈ ਕਿ ਤੁਸੀ ਕਨਾਡਾ ਲਈ ਇੱਕ ਮੁਨਾਫ਼ਾ ਦੇ ਰੂਪ ਵਿੱਚ ਉੱਚ ਤੇਲ ਦੀ ਕੀਮਤ ਉੱਤੇ ਆਪਣੇ ਸੁਝਾਅ ਭਰਮਿਤ ਕਰ ਰਹੇ ਹੋ ਇੱਕ ਉੱਚ ਤੇਲ ਦੀ ਕੀਮਤ ਵਿੱਚ ਕਨਾਡਾ ਮਕਾਮੀ ਸਮੂਹ ਅਤੇ ਮਕਾਮੀ ਸਰਕਾਰ ਦੇ ਕਰਾਧਾਨ ਨੀਤੀ ਦੀ ਵਜ੍ਹਾ ਨਾਲ ਹੈ, ਅੰਤਰਰਾਸ਼ਟਰੀ ਤੇਲ ਕੀਮਤ ਦੀ ਘੱਟ ਭੂਮਿਕਾ ਹੈ . ਉੱਚੀ ਕੀਮਤ ਉੱਤੇ ਤੇਲ ਨਿਰਿਆਤ ਅੰਤਰਰਾਸ਼ਟਰੀ ਪੱਧਰ ਉੱਤੇ ਸਰਕਾਰ ਦੇ ਖਜਾਨੇ ਨੂੰ ਭਰਨੇ ਅਤੇ ਕਰਜਾ ਨੂੰ ਘੱਟ
ਉਂਜ , ਕੰਮ ਲਈ ਸਾਰਵਜਨਿਕ ਟ੍ਰਾਂਸਪੋਰਟ ਲਈ ਲੱਭਣ ਦੀ ਕੋਸ਼ਿਸ਼ ਕਰੋ.( ਕਾਰ ਦੀ ਦੈਨਿਕ ਟ੍ਰਾਂਸਪੋਰਟ ਲਾਗਤ ਦੇ ਬਾਰੇ ਵਿੱਚ ਚਿੰਤਤ ਹੇ
ਘੱਟ ਤੋਂ ਘੱਟ GTA ਕੁੱਝ ਅੱਛਾ ਬਸ 7.30 ਉੱਤੇ ਮਿੰਟ ਆਵ੍ਰੱਤੀ Zum ਅਤੇ VIVA ਦੇ ਰੂਪ ਵਿੱਚ ਸੇਵਾ ਸ਼ੁਰੂ ਹੈ. ਕੰਮ ਉੱਤੇ ਜਾਣਾ , ਮੈਂ ਬਸ ਦਾ ਵਰਤੋ ਕਰਦਾ ਹੈ. ਟਿਕਟ 2 . 50 ਡਾਲਰ ਸਸਤਾ ਹੈ . ਸਥਾਨਾਂਤਰਣ ਟਿਕਟ ਹੈ ਕਿ ਲੈ ਜਾ ਸੱਕਦੇ ਹਨਤੁਸੀ 2 ਘੰਟੇ ਦੀ ਡਰਾਇਵ ਦੀ ਦੂਰੀ ਵਿੱਚ ਸਾਰੇ ਤਰ੍ਹਾਂ ( ਯਾਰਕ ਅਤੇ ਟੀਟੀਸੀ ਖੇਤਰਾਂ ਵਿੱਚ from brampton)
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infocan
Rahul Singh is still at the same game.
While Rahul had been dissuading and scaring the folks to not invest in Real estate, GTA has seen some people making substantial profits after commissions (...yes, after commissions! It seems the hard earned commissions bother you more than anything else).
Come out of the well and swim in open fresh waters of Ontario....
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Rajeev Narula, Broker, REALTOR®
ACE TEAM REALTY INC., Brokerage
10 Kingsbridge Garden Circle, Suite 704
(Opp Square One - HWY10/403)
Mississauga, ON L5R 3K6
Bus: 1-888-355-3155 Ext. 300
Fax: 1-888-443-3155
Email:
Web: http://www.RAJEEV.ca" rel="nofollow">LINK
which currently are either frozen or close to freezing !! Happy swimming ....
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Fido.
People made substantial profits after commissions everywhere (USA & Canada) when they bought/sold/flip at right time or made faster mortgage payments in low interest rate world without accumulating more debt.
There are tons of people who bought in or after 2007 (0/40, 5/35) are in negative equity and some even can not sell if they want. 90% new mortgages originated in last few years are CMHC insurance means they are not credit worthy so need tax payer's sign off.
People made 15-30% in stocks, precious and gold and safest bet Balance index funds in last 2-3 yrs.
Paul Krugman, Robet Shiller, Peter Schiff, Garth Turner, David Rosenberg even Mark Carney are talking about Canadian RE bubble and too much debt. I can understand these people are not as smart as Real Estate Board.
Canadian RE future:
http://financialinsights.wordpress.com/2011/03/08/new-video-primer-cmhc/
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What is your prediction for GTA and Canada for 2011-2012 and advice for new home buyers?
Quote:
Originally posted by Rajeev Narula
Rahul Singh is still at the same game.
While Rahul had been dissuading and scaring the folks to not invest in Real estate, GTA has seen some people making substantial profits after commissions (...yes, after commissions! It seems the hard earned commissions bother you more than anything else).
Come out of the well and swim in open fresh waters of Ontario....
Quote:
What is your prediction for GTA and Canada for 2011-2012 and advice for new home buyers?
Are you sure you're not asking this question to a Real Estate professional? They will never say the market is bad, even if it is. It's just like going to a restaurant and asking how their food is - of-course they will say 'pretty darn good'.
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