Real Estate market

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rahul_singh23
Member since: Apr 05

Posts: 1014
Location:
Post ID: #PID

Posted on: 29-02-12 21:19:18

I surprised to see that CD forum changed from we are different (no sub-prime , good banks) to some kind of correction/bust in RE.

We shall see correction everywhere except in my city because:

Vancouver - Chinese
Victoria- rich people retirement
Kelowna- poor man retirement
Edmonton & Calgary - Oil place and lowest taxes
SK & MB - Grain, fields, cheap living, little population
GTA- whole world wants to immigrate and financial capital
Montreal - All french speaking want to immigrate
Halifax - Navy, universities, retirement place for eastern Canadian
Northern Territories - oil, diamond, Some day shipping route
--------------------------------------------
How to diversify portfolio:

1. Buy 3 condo in one building
2. Buy 3 condo in different buildings
3. Buy 3 condo in different cities
4. Buy 1 condo, 1 townhome and 1 SFH in different cities

sant
Member since: Apr 07

Posts: 352
Location:
Post ID: #PID

Posted on: 29-02-12 22:14:08

Quote:
Originally posted by JRF

Think for a moment that you're into Sales, don't see this sentiment leads to a huge opportunity, wouldn't you strive to hold this sentiment for the progress of the business.

This is the idea the FI targets.

Retirement is connected to endless Golfing, caribbean tours, beach living.. you know in reality, retirement is hell... but some one is seeding this idea as a norm and the herd buys that.....

Quote:
Originally posted by sant

Buying a first house I think everybody will agree to go for it .

I'm lost what are you trying to say ?

bhootnath
Member since: Mar 11

Posts: 969
Location:
Post ID: #PID

Posted on: 29-02-12 22:22:29

Quote:
Originally posted by sant

I think the Original Poster started this thread to discuss Investment in real Estate .

but some people started discussing about buying a first house I guess this is creating the divergent views .

Buying a first house I think everybody will agree to go for it .

but for investment one has to be really carefull

my 2 cents

Bolo Sant 2 cents ki....

bhootnath
Member since: Mar 11

Posts: 969
Location:
Post ID: #PID

Posted on: 29-02-12 22:24:47

Quote:
Originally posted by rahul_singh23

I surprised to see that CD forum changed from we are different (no sub-prime , good banks) to some kind of correction/bust in RE.

Now you know the frustration..when you tested your own medicine

sort of.
Last 3-4 years users of this forum had been reading to "we are no different" argument and whoever took it seriously, the prices already doubled..now they are just hoping that this slide replicates to what happened in US. Similar to what I am waiting for Dow at 6500 in 2008...and waiting for correction to happen to enter market at the same time hoping that it never happens because it is scary.

rahul_singh23
Member since: Apr 05

Posts: 1014
Location:
Post ID: #PID

Posted on: 29-02-12 23:04:38

Quote:
Originally posted by bhootnath
Now you know the frustration..when you tested your own medicine sort of.
Last 3-4 years users of this forum had been reading to "we are no different" argument and whoever took it seriously, the prices already doubled..now they are just hoping that this slide replicates to what happened in US. Similar to what I am waiting for Dow at 6500 in 2008...and waiting for correction to happen to enter market at the same time hoping that it never happens because it is scary.

In Western Canada people has negative equity who bought in 2007-2008. They can not sell even on same price what they paid. Median price are low too. Kelowna, BC is a ground zero and they are blaming Albertan who made everything expensive in a small town.

http://www.greaterfool.ca/2012/02/29/bubblicide-2/
Ban the 30-year mortgage, dropping the maximum insurable amortization period to 25. The result will be higher mortgage payments, and more disappointed virgins.

web2000
Member since: May 06

Posts: 849
Location:
Post ID: #PID

Posted on: 01-03-12 11:21:22

Quote:
Originally posted by Ash20

http://www2.macleans.ca/2012/02/28/youre-about-to-get-burned

Good analysis and I liked two points

“Low interest rates are like a drug. The low interest rates are encouraging people to buy houses and take on debt. When they’re unhooked from that drug, they’re going to have to be unhooked very gradually because going cold turkey is going to hurt them.”

“The thing with household debt is it’s not a problem until it’s a problem. But when it becomes a problem, it’s usually a really big problem.”

Banks make every effort and convince you to buy a house. Real estate is the major area which drives country's economy. I can't imagine what will be the situation if housing market crashes.

bhootnath
Member since: Mar 11

Posts: 969
Location:
Post ID: #PID

Posted on: 01-03-12 12:30:56

Quote:
Originally posted by web2000

I can't imagine what will be the situation if housing market crashes.

Then it will be a good time to buy a property for those who have been patiently waiting for crash to happen.

Contributors: bhootnath(94) rahul_singh23(82) san-hugo(34) web2000(20) febpreet(17) JRF(16) BlueLobster(11) aqua(11) sant(6) Vandematram(6) metallurgy(6) elmer fudd(5) bombayduck62(4) daavidy(4) G13(4) Delhite(4) Rucking Fetard(3) Nightmare(3) infocan(3) dimple2001(2) CAN-DE(2) pokiri(2) tamilkuravan(2) chittesh(2) meitsme(2) AshwaniG(1) Blue_Peafowl(1) Ash20(1) desi28(1) high vision(1) Felix07Richerd(1) geniussenior(1) ash1967(1) Rose2012(1) Heart Stealer(1) clinton(1) abansal2001(1) mkannuri(1) hchheda(1)

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