Home buying - 300K house or 400K house
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Posted on: 22-04-11 11:14:45
Quote:
Originally posted by ashedfc
Quote:
Originally posted by rahul_singh23
You are expecting 200 run from last batting pair and no room for error...
100% Correct...... No doubt about it..
Infact... If you really want to make money from Real Estate, than the best opportunity lies in Farmland (not Detached/Semi/Townhouse/Condo as all of them are overvalued).. This cheap money from Central banks money printing mania, will unwind in near future & the implications will be higher interest rates, high inflation, expensive Oil, Food, commodities, etc.
The world is heading towards massive food shortage over the coming years. Global food inventory is next to negligible & inflation can wipe out a lot of wealth causing increase in hunger & poverty (its already happening in many countries as per World Bank report).
Farmland is being recommended to have tremendous value growth in this decade, & positioning yourself before the crowd rushes in, is the way to go...
you are putting messages to house investors. I have nothing to say about them.
My message is for regular first time buyers. They should
get on the ladder. In case inflation go high & dollar get devalue. House prices
will increase further. As cost of making new homes will be even higher ,due to high raw matarial & Govt tax cost to builders.
Make sure , whenever possible , buy in good locations.( small house in good location instead of big house in far away not ,so good location) In US too, the crash appear to happen in locations that were second holiday homes type market or the jobs dired out. In canada typical good areas in GTA, downtown areas in major cities, or area well connected to highways should remain okay.
I assume, One can see a shift in people prefrence
of areas that are well connected to public transport or close to work. Car transport should be optional, not a must wherever you buy houses. It make economic sense as commuting cost could increase on car.
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infocan
Quote:
Originally posted by ashedfc
This picture explains everything
(still if you want ignore the reality, than Good Luck to you all!!)
What are you trying to imply here? commodities are geared to bottom up? Does this mean gold and silver is also now peaked and ready for a train wreck?
USA interest rates are still low, mortgage tax deduction, lower price of food/car/gas/hotel/flight/clothes/lower taxes and higher salary in STEM (Science, tech, Engineering, medical) as compare to Canada. Why do price are still moving down?
Simple - unemployment, negative equity, masses feel negative about RE, no saving/investment and inflation in basic need but deflation in luxury item including RE.
http://www.statcan.gc.ca/pub/11-008-x/2011001/article/11430-eng.pdf
Single parents and couples with children are particularly strained. The 19-to-34 year old crowd has a debt-to-income ratio of 180 per cent, meaning they owe $1,800 for every $1,000 in pre-tax income. Lone parents have an eye-watering ratio of 227 per cent.
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Do you think these people can get out from debt in their life time? They are surviving on low interest oxygen. Most of the these people think that govt/BOC will not plug the oxygen cylinder. Same group of people was thinking that govt would keep 0/40 and 5/35 and easy mortgage conditions. But they were wrong.
Quote:
Originally posted by infocan
Till the interset rates are low. Bowler is blowling straight slow normal ball. One can bat forever till then. Keep batting. No one is alone in batting
.
Quote:
Originally posted by rahul_singh23
USA interest rates are still low, mortgage tax deduction, lower price of food/car/gas/hotel/flight/clothes/lower taxes and higher salary in STEM (Science, tech, Engineering, medical) as compare to Canada. Why do price are still moving down?
Simple - unemployment, negative equity, masses feel negative about RE, no saving/investment and inflation in basic need but deflation in luxury item including RE.
http://www.statcan.gc.ca/pub/11-008-x/2011001/article/11430-eng.pdf
Single parents and couples with children are particularly strained. The 19-to-34 year old crowd has a debt-to-income ratio of 180 per cent, meaning they owe $1,800 for every $1,000 in pre-tax income. Lone parents have an eye-watering ratio of 227 per cent.
--------------------------------------------------------
Do you think these people can get out from debt in their life time? They are surviving on low interest oxygen. Most of the these people think that govt/BOC will not plug the oxygen cylinder. Same group of people was thinking that govt would keep 0/40 and 5/35 and easy mortgage conditions. But they were wrong.
Quote:
Originally posted by infocan
Till the interset rates are low. Bowler is blowling straight slow normal ball. One can bat forever till then. Keep batting. No one is alone in batting
.
I think you are comparing apple & oranges. US as I already told you seems to have crash happen on places that were seconds holidays homes or jobs dried on large scale. US still have places where prices increaes instead of decreasing.
On case of Canada. First of all , typical , house purshase is by family with grand parents joining soon from china, india etc....ie it is immigrant market. Your so called single child single parent appear to be rarity . At least seems case in GTA at least.
Number two, lot of money from abroad comes. See market in vancouver. it is still rising as money from developing country comes. ( china mainly). I must admit the prices are crazy in Vancouver . Same is case in Brampton, Lot of money comes from india in house purchases. With 9-10% growth of india. You can only expect more money to come. people living here if cannot manage detach house. They should move to semi-detach or townhouse even condo. But no need to wait to collect/save 20% down payment.
The house that i have booked 3-4 months back( new home) is up by 20K for any new bookers !!!. I saw new price yesterday from the builder. I must admit I did not like such rate increase. Not sure whether I should consider myself lucky or as you say crash is coming .......
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infocan
Why do people buy RE but not invest other place including RRSP, RESP, TFSA, savings? You need to borrow pen for buying RE but for other you need to earn/save money.
Economy, debt or saving can be a good wife or bad mistress and it does not care borders.
When sub-prime blew southern CA, FL and NV then people in NJ/NY/WA and other northern states were feeling same. We are different (immigration, banking, insurance, tech, etc) and not a retire or vacation place. USA provide biggest legal and illegal immigration.
It seems Brampton, ON and Richmond, BC will not see price down just because immigrant. I am not sure Brampton, ON or Richmond, BC have world best universities, investment banking, technology, research facilities or attracting world best talent. There are very few people who land up with big money. I agree some people needs to buy home because of family size or life style.
Lot of newly landed immigrant get struck from media, friends and relative sales pitch and its too late till he/she figure out what is happening.
I heard that Brampton, ON Real Estate board is not publishing weekly/monthly stats. Sales will crash before price....
Quote:
Originally posted by infocan
I think you are comparing apple & oranges. US as I already told you seems to have crash happen on places that were seconds holidays homes or jobs dried on large scale. US still have places where prices increase instead of decreasing.
Quote:
On case of Canada. First of all , typical , house purshase is by family with grand parents joining soon from china, india etc....ie it is immigrant market. Your so called single child single parent appear to be rarity . At least seems case in GTA at least.
Number two, lot of money from abroad comes. See market in vancouver. it is still rising as money from developing country comes. ( china mainly). I must admit the prices are crazy in Vancouver . Same is case in Brampton, Lot of money comes from india in house purchases. With 9-10% growth of india. You can only expect more money to come. people living here if cannot manage detach house. They should move to semi-detach or townhouse even condo. But no need to wait to collect/save 20% down payment.
The house that i have booked 3-4 months back( new home) is up by 20K for any new bookers !!!. I saw new price yesterday from the builder. I must admit I did not like such rate increase. Not sure whether I should consider myself lucky or as you say crash is coming .......
Quote:
Originally posted by rahul_singh23
USA interest rates are still low, mortgage tax deduction, lower price of food/car/gas/hotel/flight/clothes/lower taxes and higher salary in STEM (Science, tech, Engineering, medical) as compare to Canada. Why do price are still moving down?
For how long?
There is good amount of Property tax savings for OLD CANADIANS.
Well, the new immigrants, (less than 10 years in this country) have to work the hardest, lots of pressure, and yet not much relief.
Caucausians grumble about poor English of Desis, and exploit the maximum for their benefit.
I have seen some unusual benefits being passed due to medical reasons, or otherwise for these Caucasians.
Them getting jobs are much easier, inspite of Indian immigrants working hard.
Why? They know, we are not united, like to show our own buddy down for few extra benefits.
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