Garth's blog is the venting avenue for those who missed the train.
By the way, I am not shooting down the idea of something in the offing.. but there are much smarter guys maneuvering the system, driving it beyond what we think ..mmm or speculate..
Quote:
Originally posted by san-hugo
If the idea is to create some kind of panic then missing above point was deliberate, inst it ? Garth is another one , to prove his point he is waiting for housing prices to jump fall (wait a minute he is mellowing down his tune , not saying fall anymore but 'correction' he said . nice ;-) ) ..
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by san-hugo
Marwari calculator
What is your number?
http://vancouvercondo.info/2012/05/price-to-rent-bubble-in-the-province.html#comments
Take the house price and divide it by what it costs to rent for a year to get the price-to-rent ratio: Price divided by (Monthly rent x 12) = X.
(Estimates for additional costs of homeownership, such as taxes, maintenance and insurance are factored into the equation.)
If the number is higher than 15, it’s generally not a good time to buy.
If the ratio is less than 15, buying is a better deal than renting, if you plan on living there for at least five years to offset moving and closing costs.
By the time the number hits 20, renting is apparently the way to go, except if buyers expect to stay put for at least 15 years, according to a formula used by trulia.com to rank major urban U.S. centres every year.
B.C.’s numbers, as shown in the graphic, are through the roof, from 29 (Prince George) to 73 (West Vancouver).
In this global economy, how this number compares with the number in India? A Flat (condo) costing 5 mil pulls the rent of around 20K monthly that brings the number to 20 still the prices there are rising and people are still buying. If maintained the same lifestyle then the cost of living there is also much higher and except for few income is less too.
Yes In this global economy we should compare Canadian Economic and Real Estate model to India than USA.
I do not think Canada is struggling with people make million and do not pay taxes, 1.2 billion pollution, 60% under poverty, 10% super rich, NCR population is equal to Canada, 1/3 size, not having oil, hiding black money. People pay 50 lakh for deal but on paper it's 20 lakh means 30 lakh black cash.
There are tons of empty flat in Mumbai and NCR exactly speculation like here. DLF was near to bankrupt but it's a congress leader who saved them.
Quote:
Originally posted by bhootnath
In this global economy, how this number compares with the number in India? A Flat (condo) costing 5 mil pulls the rent of around 20K monthly that brings the number to 20 still the prices there are rising and people are still buying. If maintained the same lifestyle then the cost of living there is also much higher and except for few income is less too.
Quote:
Originally posted by ashedfc
And Yes, McKinsey says by 2050 India's GDP will be the largest in the world, so housing is a major part of GDP.. the growth curve for the future is exponential.. all in all its beyond comparison with the dynamics of Canada.
Quote:
Originally posted by ashedfc
Gold - every substantial dip is a buying opportunity (this is US election year, they can't let problems in the Europe affect their growth numbers, a massive QE/LTRO is coming very soon to avoid the deflation scare currently some are believing; & once that unfolds high inflation is given), Gold is probably the only best place to be for safety & growth. It will protect your purchasing power in both inflation & deflation
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