Real Estate market
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Posted on: 24-08-12 23:56:31
Quote:
On the brighter side, in US if you look at the major cities like NY it is not hit that hard. Still the townhouse go for around $500K. So ya it also depends on the location of yours....
NJ, CT and NY city ( not NY state) have population and economy equal to Canada. It's easy to find 90-120K job (at least in IT) in NY tri-state area and many world class school, univ, medical facility, Ivy league and lower taxes as compare to GTA.
Quote:
Originally posted by san-hugo
Quote:
Originally posted by bhootnath
you are wrong. You need RRSP, RESP, Insurance which some experts will invest in some stupid stocks and then towards the end of the life you find yourself pushing some cart in some supermarket to meet both ends. What is the use of having a roof anyway when you can rent!. Push the carts for someone else's mortgage!
Hmmm...so all you need to secure in your life is ......one Cart !!!
Nice.. you showed me the light ....the way forward... thank you dear bhootangle !
missed that comment. Anyhow experts are advising for smaller places anyway so why not cart? that too rent a cart?
Quote:
Originally posted by bhootnath
Quote:
Originally posted by san-hugo
Quote:
Originally posted by bhootnath
you are wrong. You need RRSP, RESP, Insurance which some experts will invest in some stupid stocks and then towards the end of the life you find yourself pushing some cart in some supermarket to meet both ends. What is the use of having a roof anyway when you can rent!. Push the carts for someone else's mortgage!
Hmmm...so all you need to secure in your life is ......one Cart !!!
Nice.. you showed me the light ....the way forward... thank you dear bhootangle !
I think owning a cart will make more sense than renting, until unless there is prediction of Cart Market Crash !
Quote:
Originally posted by CAN-DE
considering I am signing(buying) my first home this weekend, I am nuts to agree with you, but ya its correct
On the brighter side, in US if you look at the major cities like NY it is not hit that hard. Still the townhouse go for around $500K. So ya it also depends on the location of yours....
You are on brighter side, in case you are buying home for primary residence, will STAY here for long, will not sit every sunday counting your equity and you can afford the mortgage year after year, Go for it , there is no right or wrong time to buy a home for such a situation. RE market does go down at times though GTA may not be heavily impacted due to heavy demand but if it happens, it will come up in long term.
If you are an investor or panic prone , either or both, stay away from GTA, please my request. I recommend consult Doctor Garth of the greaterfool.ca . I praise Garth and Rahul baba america wale only for one thing, they keep the investors away from the market. Investors did it in 2008 and earlier till 1930s.
Btw Warren Buffet said in the beginning of this year abt RE - 'Buy baby buy ' !! in his forecast of 2012 and beyond...how do you read him ?
http://www.ibtimes.com/articles/306749/20120229/real-estate-forecast-2012-warren-buffett.htm
The media predicts that the Condo market in TO is going to go up...
No wonder, the media and banks drive the market.
Quote:
Originally posted by san-hugo
Quote:
Originally posted by CAN-DE
considering I am signing(buying) my first home this weekend, I am nuts to agree with you, but ya its correct
On the brighter side, in US if you look at the major cities like NY it is not hit that hard. Still the townhouse go for around $500K. So ya it also depends on the location of yours....
You are on brighter side, in case you are buying home for primary residence, will STAY here for long, will not sit every sunday counting your equity and you can afford the mortgage year after year, Go for it , there is no right or wrong time to buy a home for such a situation. RE market does go down at times though GTA may not be heavily impacted due to heavy demand but if it happens, it will come up in long term.
If you are an investor or panic prone , either or both, stay away from GTA, please my request. I recommend consult Doctor Garth of the greaterfool.ca . I praise Garth and Rahul baba america wale only for one thing, they keep the investors away from the market. Investors did it in 2008 and earlier till 1930s.
Btw Warren Buffet said in the beginning of this year abt RE - 'Buy baby buy ' !! in his forecast of 2012 and beyond...how do you read him ?
http://www.ibtimes.com/articles/306749/20120229/real-estate-forecast-2012-warren-buffett.htm
-----------------------------------------------------------------
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 JRF
The media predicts that the Condo market in TO is going to go up...
No wonder, the media and banks drive the market.
http://www.greaterfool.ca/2012/09/03/7845/#comments
Meanwhile a melt is clearly under way. Here are the average SFH prices this year for 416:
January $778,738
February $863,413
March $869,972
April $861,851
May $884,892
June $859,060
July $828,484
August $690,748
Many weeks ago I told you the market turned quickly at the end of a Spring season characterized by aberrant behaviour – engineered bidding wars, multiple offers, panic buying and sheer vendor greed. Without a doubt, it was the high water mark of real estate insanity, and came just before the feds declared their War on the House, which you previewed here in March.
The plunge from May to August: $194,000, or 22%.
Isn't the average detached home prices for Toronto around 475K? These numbers are way higher!
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