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2016-2017 Housing Market

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Re: 2016-2017 Housing Market

Postby lightspeed » Jul 17th, 2017, 8:10 am

duke98 wrote:
LANDM wrote:So, you live in a total crap area in the US. What is the proper term now...slum or ghetto?

I know the prices in the desirable cities and they are definitely not much different than Vancouver.
And, if you want a quarter of the cost, you can do it here also. Go back east and fill your boots.


Adequately priced home doesn't necessarily mean a crap. My house was built in 2000 and I bought it in 2009. It is about 2000sq.ft in size in very secluded and quiet neighbourhood. The land is about 0.7 acre, and its size is hard to find in any suburbs in Canada unless you buy a farm land. Why do you think it should be crap? Is it because of price? When I mention about the current prices in Vancouver and Toronto to my friends here, their eyes are popping.

crap in vancouver 2.png


edited - error
Last edited by lightspeed on Jul 17th, 2017, 8:11 am, edited 1 time in total.
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Re: 2016-2017 Housing Market

Postby forum » Jul 17th, 2017, 8:11 am

duke98 wrote:
Well, living in US is actually much better. I get to do things I would never be able to if I am still in Canada, such as taking flight training or sailing lesson. Education system is quite similar if not better. University education is much more expensive but my higher income easily offset most of it, so I don't feel much stress. I have a daughter studying Chemical Engineering but don't have to take any student loan. She is already learning how to start her debt-free life. Summer is busy for her as she is making good money as a summer intern. I told her to keep all her earning as I am paying for tuition and on campus living expenses.

Vacation destinations for my family this year are Hawaii in the summer and Mont Tremblant in winter. Both trips are already booked and paid in full.

I say this is what a life should be. If I were still in Canada, I would be counting coins in the penny jar for next camping trip.


Many Canadians will never know how that works. They're house gobbles up so much of their income, they have almost nothing left. They end up so house poor they finance a camper (house on wheels) and drag it into the mosquito infested backwoods to sit around a fire and eat burnt hotdogs.

Canadians think the path to wealth is Homeownership, they are terribly misguided and have never had so much debt compared to any generation. How do Canadians think they will pay off all the debt without serious lifestyle consequence?

Some people forget you don't need to own a home to have a home.

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Re: 2016-2017 Housing Market

Postby lightspeed » Jul 17th, 2017, 8:13 am

forum wrote:
duke98 wrote:
Well, living in US is actually much better. I get to do things I would never be able to if I am still in Canada, such as taking flight training or sailing lesson. Education system is quite similar if not better. University education is much more expensive but my higher income easily offset most of it, so I don't feel much stress. I have a daughter studying Chemical Engineering but don't have to take any student loan. She is already learning how to start her debt-free life. Summer is busy for her as she is making good money as a summer intern. I told her to keep all her earning as I am paying for tuition and on campus living expenses.

Vacation destinations for my family this year are Hawaii in the summer and Mont Tremblant in winter. Both trips are already booked and paid in full.

I say this is what a life should be. If I were still in Canada, I would be counting coins in the penny jar for next camping trip.


Many Canadians will never know how that works. They're house gobbles up so much of their income, they have almost nothing left. They end up so house poor they finance a camper (house on wheels) and drag it into the mosquito infested backwoods to sit around a fire and eat burnt hotdogs.

Canadians think the path to wealth is Homeownership, they are terribly misguided and have never had so much debt compared to any generation. How do Canadians think they will pay off all the debt without serious lifestyle consequence?

Some people forget you don't need to own a home to have a home.


So why are you so bent out of shape about the RE market?

Something doesn't compute in your worldview.
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Re: 2016-2017 Housing Market

Postby forum » Jul 17th, 2017, 8:20 am

The Canadian Real Estate market is bent out of shape, not me.

Just listen to our friend from the US, he is your dose of reality that your house is worth half of what you think it is.

Do you know why Canadian's household debt is larger than its GDP? Because they just keep selling their houses (tulips) to each other. They produce nothing but debt for themselves.

I just see what's happening and report what's coming. It doesn't make me a miserable person because I have identified a major problem. I guess nobody likes to hear they have a disease.

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Re: 2016-2017 Housing Market

Postby duke98 » Jul 17th, 2017, 8:42 am

forum wrote:The Canadian Real Estate market is bent out of shape, not me.

Just listen to our friend from the US, he is your dose of reality that your house is worth half of what you think it is.

Do you know why Canadian's household debt is larger than its GDP? Because they just keep selling their houses (tulips) to each other. They produce nothing but debt for themselves.

I just see what's happening and report what's coming. It doesn't make me a miserable person because I have identified a major problem. I guess nobody likes to hear they have a disease.


Forum, you are an optimist. I would say a quarter. RE doesn't add any value to the economy. They are simply changing hands and the volume of the money gets miraculously inflated. That is the problem of Canadian economy. 29% of Canadian GDP growth is from RE while only 4% in US. That's crazy.

Even comparing to San Francisco, the most expensive RE market in US, Vancouver and Toronto prices are ridiculous.
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Re: 2016-2017 Housing Market

Postby LANDM » Jul 17th, 2017, 8:46 am

duke98 wrote:
forum wrote:The Canadian Real Estate market is bent out of shape, not me.

Just listen to our friend from the US, he is your dose of reality that your house is worth half of what you think it is.

Do you know why Canadian's household debt is larger than its GDP? Because they just keep selling their houses (tulips) to each other. They produce nothing but debt for themselves.

I just see what's happening and report what's coming. It doesn't make me a miserable person because I have identified a major problem. I guess nobody likes to hear they have a disease.


Forum, you are an optimist. I would say a quarter. RE doesn't add any value to the economy. They are simply changing hands and the volume of the money gets miraculously inflated. That is the problem of Canadian economy. 29% of Canadian GDP growth is from RE while only 4% in US. That's crazy.

Even comparing to San Francisco, the most expensive RE market in US, Vancouver and Toronto prices are ridiculous.

Which proves you know nothing about the real estate pricing in the US or Canada.
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Re: 2016-2017 Housing Market

Postby forum » Jul 17th, 2017, 9:21 am

You nailed it Duke, Canadians have 29% GDP in RE vs 4% for the US. It demonstrates exactly what I'm talking about.

That current 29% will not support itself and will collapse like every bubble has ever done. And Canadians will be shocked.

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Re: 2016-2017 Housing Market

Postby forum » Jul 17th, 2017, 9:38 am

Thanks for the trophy. :130:

Average Canadian house worth $504,458 in June, down 10% since April


Still crashing...happy housing crash everyone!

http://www.cbc.ca/news/business/crea-housing-market-prices-1.4208256

Sales and prices have both declined since peaking earlier this spring


What now LANDM?

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Re: 2016-2017 Housing Market

Postby forum » Jul 17th, 2017, 9:43 am

Average Canadian home lost $50,000 in value. Poof, gone... And not coming back.

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Re: 2016-2017 Housing Market

Postby lightspeed » Jul 17th, 2017, 10:21 am

forum wrote:Average Canadian home lost $50,000 in value. Poof, gone... And not coming back.


The Okanagan market won't "crash". Stable for a few years. At worst. Nothing wrong with that.

You're a real gump who will never be able to afford a nice house.
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Re: 2016-2017 Housing Market

Postby slootman » Jul 17th, 2017, 11:02 am

forum wrote:Still crashing...happy housing crash everyone!


You said the same thing in 2014...and 2015...and 2016. One would be better off using Tarot cards to predict the housing market than listen to you.

Anyone able to do a blanket search in this thread to show how many times forum incorrectly called a crash?

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Re: 2016-2017 Housing Market

Postby slootman » Jul 17th, 2017, 11:03 am

forum wrote:Average Canadian home lost $50,000 in value. Poof, gone... And not coming back.


Almost as much as you've lost renting. Are you saving rent receipts so you can build a tent when you get evicted?

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Re: 2016-2017 Housing Market

Postby atenbacon » Jul 17th, 2017, 12:54 pm

slootman wrote:Almost as much as you've lost renting. Are you saving rent receipts so you can build a tent when you get evicted?


He doesn't understand that housing always goes up in value long term, so in fact, as history shows, a home owner will get back that $50,000.00 that he says went away poof gone....

Reality is only a renter gets to experience that feeling. Poof... gone.
You have to keep an open mind until it is proven one way or the other. You just can't take the T.V. or internet word on it.

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Re: 2016-2017 Housing Market

Postby kgcayenne » Jul 17th, 2017, 1:21 pm

Yah, I lost $110,000 to renting, and that doesn't include the costs associated with moving each of the six time I had to move.

You have to pay someone in order to have a roof over your head, so it may as well be yourself and the bank instead of the landlord and his/her bank. However, if you are not a fiscal idiot, the bank's take eventually dwindles and goes away. Landlords, however, don't stop collecting the rent after you have paid off their mortgage for them.
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Re: 2016-2017 Housing Market

Postby forum » Jul 17th, 2017, 5:32 pm

What a poor analogy.

You know, everyone has to eat so everyone might as well just eat out every night and pay five times the price for a meal. :biggrin:

I will be buying a house in Canada when they are 50% off the current price. And trust me they will be 50% off, already down 10% in one month.
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