2019 Banking, Investments & Real Estate

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Re: 2019 Banking, Investments & Real Estate

Postby alanjh595 » Jan 18th, 2019, 5:33 pm

atenbacon wrote: I attempted to make a point earlier to them that even if housing prices somehow get to where they can actually afford them (Affordable housing) It will take some huge change in policy to give them money to buy, or they will be in non stop bidding wars to try and out buy their peers.

Perpetual renters they are... not that I am making that sound like a bad thing, just that some folks will always rent... These guys are just dumber than the average bear in thinking housing will drop past inflation numbers... laughable really. To those fools, I make fun of, they're to dumb to ever buy a home.


Not only that good point that you have made, but who is going to pay to subsidize this housing and will have to "buck-up" to account for inflation municipal, provincial and federal taxes? It's easy for a homeowner to NOT to rent, all he has to do is decommission his suite and make it un-rent able.

Somebody has to pay.....who's it going to be? Any other form of affordable home-ownership that makes renters on the the same playing field, is socialism. That hasn't worked in the past and won't work here.
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Re: 2019 Banking, Investments & Real Estate

Postby ckil » Jan 18th, 2019, 7:53 pm

Don't worry Allah and Auntie Bacon... falling home prices will void the need to "waste" money on social housing.''' Prices down $131k since the summer. Sub $500k here we come!
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Re: 2019 Banking, Investments & Real Estate

Postby alanjh595 » Jan 18th, 2019, 8:50 pm

ckil wrote:Don't worry Allah and Auntie Bacon... falling home prices will void the need to "waste" money on social housing.''' Prices down $131k since the summer. Sub $500k here we come!


Where's your proof? You too have got that liar's disease.
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Re: 2019 Banking, Investments & Real Estate

Postby atenbacon » Jan 18th, 2019, 9:10 pm

ckil wrote:Don't worry Allah and Auntie Bacon... falling home prices will void the need to "waste" money on social housing.''' Prices down $131k since the summer. Sub $500k here we come!


Actually they are up a million billion zillion percent and reports are that it will keep going up until you as a renter finally says "Gee, I shoulda bought when the prices were reasonable."

Wrong again.
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: 2019 Banking, Investments & Real Estate

Postby atenbacon » Jan 18th, 2019, 9:23 pm

Image
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: 2019 Banking, Investments & Real Estate

Postby atenbacon » Jan 18th, 2019, 10:45 pm

ckil wrote: Image


I see your crappy graph and offer one that is much more valid than the hack job you posted.

Image
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: 2019 Banking, Investments & Real Estate

Postby ckil » Jan 19th, 2019, 4:59 am

atenbacon wrote:Image



I love your fits Auntie Bacon. Did you whip the keyboard across the room? That would have been awesome if you did.

I'm surprised you didnt use crayon on your graph above. Oh, that's right they took them away from you because you kept eating them..
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Re: 2019 Banking, Investments & Real Estate

Postby normaM » Jan 19th, 2019, 6:44 am

The graph was funny.
AS I asked FORUM - Ckil - why are you happy if you think homeowners are losing their shirts>
I haven't seen anything to back up your lost over 100,000 post.
TSX, 11 days straight back up.
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Re: 2019 Banking, Investments & Real Estate

Postby atenbacon » Jan 19th, 2019, 6:45 am

Just talked to a guy that bought a new house. And he said all 25 houses on the development have been purchased, Looks like the market is chugging along even though it is winter, the usually slower period. With interest rates set to drop, as indicated by the BoC, it looks like it will be another busy summer in good old KLO.


Remember, home ownership is a big decision, not one where you should decide based on opinions on the internet.
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: 2019 Banking, Investments & Real Estate

Postby atenbacon » Jan 19th, 2019, 6:50 am

normaM wrote:The graph was funny.
AS I asked FORUM - Ckil - why are you happy if you think homeowners are losing their shirts>
I haven't seen anything to back up your lost over 100,000 post.
TSX, 11 days straight back up.


I have a theory on that.


Ckil simply doesn't understand that we are both people that every day put on our pants one leg at a time. The only difference is that when I put my pants on I'm doing so in the house I own, not in the one I'm renting out to him. If he would understand that then he would know that we live in a comunity that wants the best for everyone as a whole. Well that, and the fact that Ckil has no real world knowledge past middle school playground bullying.
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: 2019 Banking, Investments & Real Estate

Postby W105 » Jan 19th, 2019, 7:20 am

looks like to me that Mr Bacon was hitting those "Bacon me crazy with extra bitters" cocktails fairly hard last night..lol

and it's great to hear that you have started wearing pants again :)

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Re: 2019 Banking, Investments & Real Estate

Postby ckil » Jan 19th, 2019, 8:21 am

normaM wrote:The graph was funny.
AS I asked FORUM - Ckil - why are you happy if you think homeowners are losing their shirts>
I haven't seen anything to back up your lost over 100,000 post.
TSX, 11 days straight back up.



http://www.kelownadailycourier.ca/business_news/article_4073671e-04e1-11e9-95c2-bba042ce4c68.html

It’s been a year of high highs and low lows in Kelowna’s real estate market.

It was announced with much fanfare that the average selling price of a single-family home in the city hit a record high of $782,398 in July.

However, a slowdown quickly followed and the average price nosedived to $650,785 by November. That’s a plunge of $131,613, or 17 per cent.

Whether you were selling your home or not, you felt immediately poorer. If you were selling, you would have to accept less for your home. If not, your net worth took a big hit.

Everyone watches home prices as a barometer of local economic health.

It feels good to be in a vibrant market where your home is worth three-quarters of a million dollars.

If feels deflating to realize your home, and your net worth, can lose value so quickly.

In boom time 2017, there were 5,517 residential sales in the first 11 months of the year.

Over the same period this year, sales declined 20 per cent to 4,411.

While there has been much hand-wringing over the sales and price slumps, the Kelowna housing market is still considered healthy.

To put things in perspective, it was only 2016 that the average selling price fully recovered to $550,000 after peaking at that amount in 2008 before the recession.

Selling prices have been on a tear since 2016 and, as with everything cyclical, which real estate is, a correction was inevitable.

While the $782,398 pinnacle for average selling price was hit in July, signs of weakening were seen in March. Sales started to flag, but the prices continued to climb.

“It takes time for those active in the market to respond to changing conditions,” said Okanagan Mainline Real Estate Board president Marv Beer at the time. “So, sales activity tends to fall before prices adjust.”

All the stars aligned in 2017 and early 2018 to make the Kelowna market soar.

The economy was buoyant, consumers were confident and homeowners in Vancouver were selling their places for an average of $1.6 million and coming to the Okanagan to buy a similar place for half the price.


The Vancouver market eventually cooled and that chill spread to the Okanagan.

As well, the so-called triple whammy of negativity further jinxed the Kelowna market.

Mortgage interest rates are on the rise, tough new mortgage qualification rules are in place and the B.C. government is scaring investors with a speculation tax.

Canada Mortgage & Housing Corporation forecasts the waning market will continue in 2019 and that only small gains could be made in 2020 and 2021.

It all means Kelowna currently has a balanced real estate market, in which sales and prices are steady for both buyers and sellers.

Sellers have to price their property realistically, knowing that buyers have time to look around and negotiate.

It’s an adjustment, for sure, from the recent sellers’ market, in which homes were priced high and often fetched more when frenzied potential buyers started bidding.

However, a balanced market is better than a buyers’ market, which is usually the sign of a skittish economy in which purchasers are few and far between, homes sit on the market a long time and sellers usually have to drop the price to attract a buyer.
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Re: 2019 Banking, Investments & Real Estate

Postby ckil » Jan 19th, 2019, 8:25 am

atenbacon wrote:Just talked to a guy that bought a new house. And he said all 25 houses on the development have been purchased, Looks like the market is chugging along even though it is winter, the usually slower period. With interest rates set to drop, as indicated by the BoC, it looks like it will be another busy summer in good old KLO.


Remember, home ownership is a big decision, not one where you should decide based on opinions on the internet.



LMAO..the whole post contradicts itself... nice one Auntie Bacon. Keep them coming.
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Re: 2019 Banking, Investments & Real Estate

Postby atenbacon » Jan 19th, 2019, 8:38 am

ckil wrote:
atenbacon wrote:Just talked to a guy that bought a new house. And he said all 25 houses on the development have been purchased, Looks like the market is chugging along even though it is winter, the usually slower period. With interest rates set to drop, as indicated by the BoC, it looks like it will be another busy summer in good old KLO.


Remember, home ownership is a big decision, not one where you should decide based on opinions on the internet.



LMAO..the whole post contradicts itself... nice one Auntie Bacon. Keep them coming.


Your lack of comprehension makes your LMAO fall flat onto the floor, again showing you know nothing. I feel sorry for you, just like I feel sorry for a cat that has tinsel hanging out of it's butt..... I'll look, and laugh at you and your situation, but I'm sure as heck not going to help you out.


Actually, I feel more sorry for the cat.
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Re: 2019 Banking, Investments & Real Estate

Postby Bpeep » Jan 19th, 2019, 8:49 am

Cklit grabbed that graph from that doomed renters fb site I see.
Seeking the apartment that is creating leasing interest concerns knowledgeable seclusive morons excessively.

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