Central Okanagan housing market thread

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Re: Central Okanagan housing market thread

Postby Catsumi » Mar 6th, 2018, 9:35 am

Bman wrote:The Paper Boi is MIA.
Did he take on a bigger route so he could cover his rent?




Last seen stalking freaked out gent deep into the woods. Both went in and only one came out. [icon_lol2.gif]

You missing that squeaky toy between your paws, dearie?
nothing wrong with being open minded as long as your brains don't fall out.

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Re: Central Okanagan housing market thread

Postby forum » Mar 6th, 2018, 9:03 pm

The Great Canadian Housing Crash continues...

Prices in Richmond Hill, meanwhile, have dropped a whopping [b]43 per cent from the peak. [/b]


25 years is a long time to be paying off a massive debt on something that loses thousands of dollars per month.

People that bought detached homes in overheated markets in Ontario are losing on average $100,000+ on their Investment in a single year.

Just wait until the Okanagan finishes cratering, a world of financial suffering is just starting for many. Some people never recover from a housing crash. They live out the rest of their life either making payments to some city slicker at the bank, or hang their head in shame from the bankruptcy.

http://www.macleans.ca/economy/realestateeconomy/gta-real-estate-sales-falling/

Those holding multiple properties in Kelowna and told to buy a crusty old duplex as an income property, are about to see all of their money flushed down the toilet.

Realturds havent sold anything in months. Thank God BMW threw in all those free oil changes during the first couple years of their lease agreement, or guys like me would be buying underserviced lemons.
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Re: Central Okanagan housing market thread

Postby jsytnick » Mar 6th, 2018, 9:24 pm

forum wrote:The Great Canadian Housing Crash continues...

Prices in Richmond Hill, meanwhile, have dropped a whopping [b]43 per cent from the peak. [/b]


25 years is a long time to be paying off a massive debt on something that loses thousands of dollars per month.

People that bought detached homes in overheated markets in Ontario are losing on average $100,000+ on their Investment in a single year.

Just wait until the Okanagan finishes cratering, a world of financial suffering is just starting for many. Some people never recover from a housing crash. They live out the rest of their life either making payments to some city slicker at the bank, or hang their head in shame from the bankruptcy.

http://www.macleans.ca/economy/realestateeconomy/gta-real-estate-sales-falling/

Those holding multiple properties in Kelowna and told to buy a crusty old duplex as an income property, are about to see all of their money flushed down the toilet.

Realturds havent sold anything in months. Thank God BMW threw in all those free oil changes during the first couple years of their lease agreement, or guys like me would be buying underserviced lemons.



Who's the real turd though? Probably the guy who has moaned on here for hours and hours of his life about how he wishes for a crash so he can finally get in the game. Yep, you're the real turd.
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Re: Central Okanagan housing market thread

Postby atenbacon » Mar 6th, 2018, 9:33 pm

forum wrote:The Great Canadian Housing Crash continues...

Prices in Richmond Hill, meanwhile, have dropped a whopping [b]43 per cent from the peak. [/b]


25 years is a long time to be paying off a massive debt on something that loses thousands of dollars per month.

People that bought detached homes in overheated markets in Ontario are losing on average $100,000+ on their Investment in a single year.

Just wait until the Okanagan finishes cratering, a world of financial suffering is just starting for many. Some people never recover from a housing crash. They live out the rest of their life either making payments to some city slicker at the bank, or hang their head in shame from the bankruptcy.

http://www.macleans.ca/economy/realestateeconomy/gta-real-estate-sales-falling/

Those holding multiple properties in Kelowna and told to buy a crusty old duplex as an income property, are about to see all of their money flushed down the toilet.

Realturds havent sold anything in months. Thank God BMW threw in all those free oil changes during the first couple years of their lease agreement, or guys like me would be buying underserviced lemons.


Bman wrote:An exerpt from your link-

B.C. professor and economist, Tom Davidoff. “If you bought three years ago, it doesn’t matter because prices have gone so high it’s very unlikely you’d go ‘underwater’. But if you bought in the last year you are at risk. And that year is the most worrisome.”
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: Central Okanagan housing market thread

Postby pepecat » Mar 6th, 2018, 9:56 pm

forum wrote:As Baby Boomers continue to pull out HELOC's to live a lifestyle they otherwise couldn't afford, and in many cases don't deserve... I wonder how many more of these gluttonous posers are leaving debts for their kids and other people to pay.

The excessive debt Canadians hold against their homes isn't going to end well for those that took an extra piece of the cake.

When your parents die broke


https://ca.finance.yahoo.com/news/parents-die-broke-154031348.html


Hey Forum,

You are once again referencing an article from a different country. Different countries have different laws and rules! While you are busy finding irrelevant articles about the horrors of real estate, maybe you should research some of the European RE markets for a wake up call on how good you have it here. But you have to work for it... no one is entitled to an inheritance as you seem to think.

And a word to the wise for your mom... if she is so overleveraged on a home-owner's line of credit, maybe you should help her out. Move out and get a job and let the poor woman live out her life without supporting you anymore. Grown kids can be really expensive to look after, especially the lazy entitled ones. I bet that within months of you moving out, she will have paid down a good amount of her HELOC. Plus she won't have to hear the nightmare-induced cries of "Realtooooorrrs ihaterealltoooors" anymore from the basement in the middle of the night.

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Re: Central Okanagan housing market thread

Postby LANDM » Mar 7th, 2018, 6:36 am

forum wrote:The Great Canadian Housing Crash continues...

Prices in Richmond Hill, meanwhile, have dropped a whopping [b]43 per cent from the peak. [/b]


25 years is a long time to be paying off a massive debt on something that loses thousands of dollars per month.

People that bought detached homes in overheated markets in Ontario are losing on average $100,000+ on their Investment in a single year.

Just wait until the Okanagan finishes cratering, a world of financial suffering is just starting for many. Some people never recover from a housing crash. They live out the rest of their life either making payments to some city slicker at the bank, or hang their head in shame from the bankruptcy.

http://www.macleans.ca/economy/realestateeconomy/gta-real-estate-sales-falling/

Those holding multiple properties in Kelowna and told to buy a crusty old duplex as an income property, are about to see all of their money flushed down the toilet.

Realturds havent sold anything in months. Thank God BMW threw in all those free oil changes during the first couple years of their lease agreement, or guys like me would be buying underserviced lemons.


Hate to tell you, again, but the Okanagan hasn’t started cratering.....how can it "finish"?

It is truly a fascinating alternate reality that you live in.....a world where a strong market is cratering......where a healthy market is "a world of financial suffering".....an existence where money is paid to "city slickers" at a bank......where "all" of people’s money is being flushed down a toilet for some inexplicable reason......where people "haven’t sold anything in months" in a market where there’s are still multiple offers and homes selling rapidly.......where "guys like you" are buying BMW's when you clearly can’t buy a new flyer delivery wagon.

Gosh, you’re a curious little fellow.... [icon_lol2.gif] [icon_lol2.gif]
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Re: Central Okanagan housing market thread

Postby W105 » Mar 7th, 2018, 7:36 am

guess you haven't seen/read the endless articles here on Castanet and "many" online media sources that say Kelowna's RE Market will be crushed by the Spec Tax then LANDM...

remember a very long time ago you said the only thing that could possibly "crash" our market is if something catastrophe happened ?? well according to many, this Spec Tax is it..
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Re: Central Okanagan housing market thread

Postby atenbacon » Mar 7th, 2018, 10:48 am

W105 wrote:guess you haven't seen/read the endless articles here on Castanet and "many" online media sources that say Kelowna's RE Market will be crushed by the Spec Tax then LANDM...

remember a very long time ago you said the only thing that could possibly "crash" our market is if something catastrophe happened ?? well according to many, this Spec Tax is it..



Wait... you are serious? I really thought you were kidding when saying "endless articles" but I read what you typed twice and it actually looks like you are serious...

Endless articles... haha... you are either delusional or just read what you want to in the stories you look at, which seems to just be Forum News (Copy write pending)

Here's a small hint when looking at articles, read the full story right to the end, you may find that every one of them have a few disclaimers on the predictive nature (Kind of what you seem to do usually) of the articles seeing as they are usually opinion based at best.
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: Central Okanagan housing market thread

Postby W105 » Mar 7th, 2018, 12:25 pm

Mr Bacon...all you gotta do (after you wipe the bacon grease off your hands :) is go to google and type in BC Foreign Investment and Spec Tax and you'll see lots of articles about how Kelowna is gonna die and become a ghost town...( I just read the articles I do not write them)

and some of those articles are quoting the Mayor of Kelowna and West Kelowna...you can also find where the Minister of Finance actually says they plan on "cooling" the RE Market (their agenda seems pretty obvious)...and if you really want some extra enjoyment with your afternoon "bacon martini" ( and they are very tastey) google what the Realtors are saying about these 2 new taxes...

these 2 new taxes coupled with the new B20 rules might have a (insert any word that makes you feel safe and happy) effect in the RE game now..
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Re: Central Okanagan housing market thread

Postby alanjh595 » Mar 7th, 2018, 12:36 pm

Why don't you post and highlight the sections of those supposed articles so that we can all see where you get this information that you base your opinion upon.
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Re: Central Okanagan housing market thread

Postby Snowbound » Mar 7th, 2018, 6:19 pm

I'm curious what 'yalls opinions are as to what an affordable house would cost here? How low does the market have to slide for that side of the argument to be happy?

I've got family across Canada and moved here in 2010. Yes it is more expensive now than it was then. Same goes across the country, maybe not to the same percentage of increase. I don't find it that much more expensive TBH, then similar sized cities in other provinces (except the East Coast).

I see many single family homes around for $500k. What's the price point where you would pull the trigger and buy?
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Re: Central Okanagan housing market thread

Postby LANDM » Mar 7th, 2018, 6:25 pm

W105 wrote:guess you haven't seen/read the endless articles here on Castanet and "many" online media sources that say Kelowna's RE Market will be crushed by the Spec Tax then LANDM...

remember a very long time ago you said the only thing that could possibly "crash" our market is if something catastrophe happened ?? well according to many, this Spec Tax is it..


I am very aware of the new taxes and have an opinion of what they may do here.
However, the difference is that you are talking future tense, while our favourite lil cowkid is using past and present tense in his, literally, endless and incorrect posts on the subject.

Read what I said. I stand by it.

We are not in a crash situation. Now or in the last few years that he has been posting this incorrect drivel. It is not continuing or happening.......notice that I have not said now or any time in the past that we would not get a correction. Unless I used the words "today" or "tomorrow". You can search all day long and you will never find that.

You will find that I have said that our lil cowkid will be correct at some point.....like that good old broken clock that is right twice a day. Not necessarily correct in that people will be losing everything they have, but that, like every other downturn in the real estate cycle, it will happen again.

Words matter. When I use them, I mean them. I also stand by your paraphrasing of my comments on a "crash". A correction will certainly happen. A crash is defined differently dependent on the context, but it hasn’t been happening since cowkid has been claiming it, and it isn’t happening now.

Do you disagree?
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Re: Central Okanagan housing market thread

Postby atenbacon » Mar 7th, 2018, 6:36 pm

W105 wrote:Mr Bacon...all you gotta do (after you wipe the bacon grease off your hands :) is go to google and type in BC Foreign Investment and Spec Tax and you'll see lots of articles about how Kelowna is gonna die and become a ghost town...( I just read the articles I do not write them)

and some of those articles are quoting the Mayor of Kelowna and West Kelowna...you can also find where the Minister of Finance actually says they plan on "cooling" the RE Market (their agenda seems pretty obvious)...and if you really want some extra enjoyment with your afternoon "bacon martini" ( and they are very tastey) google what the Realtors are saying about these 2 new taxes...

these 2 new taxes coupled with the new B20 rules might have a (insert any word that makes you feel safe and happy) effect in the RE game now..


You certainly are dense... I quote what you typed...

W105 wrote:guess you haven't seen/read the endless articles here on Castanet and "many" online media sources


Now, in the language of English, you are saying there are endless articles here on Castanet, and (In quotation marks) the word many... Are you capable of knowing what putting something in quotation marks does to what you are saying? Sighs....

Now please tell me why I would waste my time to google when you are talking out of your arse. Quote the articles or be questioned on your stupidity, it's your call, I don't care what you type, but will certainly point out your ignorance on the subject for all to see.

As has been done here.
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: Central Okanagan housing market thread

Postby forum » Mar 7th, 2018, 7:31 pm

Well, I never thought I'd hear a Realturd say the market in Kelowna is going to crash...but I heard it today.

The narrative has changed. Game over Kelowna. It had potential, but so did the dumpster houses in Rutland trying to sell for over $500,000. Nobody is even looking at them anymore.

Bye bye housing market. The smart money has left town.
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Re: Central Okanagan housing market thread

Postby forum » Mar 7th, 2018, 9:36 pm

It's over. Canada Housing is done.

https://www.curbed.com/2018/3/7/17085794/canada-housing-market-collapse

I'd hate to be a Canadian holding debt on multiple properties right now. Especially rental properties.

Complete yard sale happening with Canadian properties right now.
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