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Thread: real estate..... is it true??

  1. #361
    100% correct

  2. #362
    Quote Originally Posted by Allwomen247 View Post
    Stats Can is useless and can’t be relied upon

    How many Chinese have numbered Canadian companies with themselves as nominal directors and family members/friends who are Canadian citizens acting as purchasers?

    When Stats Can Can did deeper into who actually controls these numbered companies and report back with a percentage then I’ll believe that they’ve really got to the bottom of it (foreign ownership).

    In places like Richmond BC and North Van I wouldn’t be surprised to see 85-90% Chinese ownership structured through numbered companies.

    Don’t believe Stats Can, they don’t want to dig deeper lest they be labelled racist by our politically correct state broadcaster the CBC (a branch of the Liberal party of Canada).

    Cheers
    100% correct

  3. #363
    Quote Originally Posted by Allwomen247 View Post
    Stats Can is useless and can’t be relied upon

    How many Chinese have numbered Canadian companies with themselves as nominal directors and family members/friends who are Canadian citizens acting as purchasers?

    When Stats Can Can did deeper into who actually controls these numbered companies and report back with a percentage then I’ll believe that they’ve really got to the bottom of it (foreign ownership).

    In places like Richmond BC and North Van I wouldn’t be surprised to see 85-90% Chinese ownership structured through numbered companies.

    Don’t believe Stats Can, they don’t want to dig deeper lest they be labelled racist by our politically correct state broadcaster the CBC (a branch of the Liberal party of Canada).

    Cheers
    Well said. You nailed it. I want to read your editorial in the paper buddy!!!

  4. #364
    Foreign numbers are high, but there is an unprecedented number of local buyers investing/flipping etc multiple properties. Much much much more than foreign buyers. Foreign buyers are pretty much concentrated in certain areas. The vast majority of the GTA is being bought up through speculation of domestic buyers. My office pretty much has hundreds of locals that own multiple properties here in the GTA. One small office may account for over 2000 speculative buys. We're an investment office. There are hundreds of offices like ours in the GTA and there are hundreds of hard core real estate speculators that don't own any financial instruments; only real estate. By all means I agree with the influence of foreign buyers(also agree with the corporate purchases you describe) but its nowhere near the number of properties being bought up by locals.

  5. #365
    Quote Originally Posted by wonkyknee View Post
    Foreign numbers are high, but there is an unprecedented number of local buyers investing/flipping etc multiple properties. Much much much more than foreign buyers. Foreign buyers are pretty much concentrated in certain areas. The vast majority of the GTA is being bought up through speculation of domestic buyers. My office pretty much has hundreds of locals that own multiple properties here in the GTA. One small office may account for over 2000 speculative buys. We're an investment office. There are hundreds of offices like ours in the GTA and there are hundreds of hard core real estate speculators that don't own any financial instruments; only real estate. By all means I agree with the influence of foreign buyers(also agree with the corporate purchases you describe) but its nowhere near the number of properties being bought up by locals.
    +1 and you nailed it.

    I knew it that this is the main factor in driving real estate in Vancouver and GTA out of the normality. As I mentioned earlier, it's a common human psychology that the problems are not caused by our own actions BUT caused by others (foreign buyers in this case).

  6. #366
    Prices and sales volume in June 2018 higher than June 2017.

    http://trebhome.com/market_news/mark...018/mw1806.pdf


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  7. #367
    Vancouver’s bubbly real estate market is deflating, say realtors
    https://www.thestar.com/vancouver/20...-realtors.html


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  8. #368
    ITALIAN BELLA KADIE Kadie Lux's Avatar
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    Real estate please stop going up

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  9. #369
    It will. Just be patient. Play the long game. Save your money. The opportunity will come, if you will be ready. Don't rush into this overpriced market.

  10. #370
    Quote Originally Posted by Barca View Post
    It will. Just be patient. Play the long game. Save your money. The opportunity will come, if you will be ready. Don't rush into this overpriced market.
    Real estate markets in both Canada and USA have crashed in the past. The best strategy is to wait until they will crash again to scoop up good homes with perhaps half of the prices they are listing right now. So weather it will be 2, 3, 5 or 7 years from today, it is worth waiting. Basically, a typical 4-bedroom and 2.5 baths of a 2-story home is listing at around 1.2 millions right now. When the real estate market will crash, it will be most likely listing for about half of the current listing price or around 600k.

    So it's best to wait until the market will crash. Meanwhile, you are enjoying your life by accumulating more cash / saving and pension money in your accounts and at the same time still have plenty of cash left in each months to spend on other things such as eating out in the restaurants, buying a new vehicle and etc.

    If you want to jump into the "over-priced" real estate right now, you will end up with no or very little money left after paying the mortgage of "over-priced" home.

  11. #371
    I don't think prices will ever be cut in half. That would mean a price reversion back to the mid to late 2000s.

    The best method is to buy whenever you can afford to. If you can't afford, don't buy. If you're going to live in the place you buy, it doesn't matter whether prices go up or down over the next decade.

    Never try to time the market for your primary residence. Life is too short... people that tried to time the market in 2008 hoping for a crash are now 10 years older and have watched their buying power erode. So a person waiting in 2008 who was 25 is now 35, and the person that was 35 is now middle aged and both are still twiddling their thumbs for a crash that has yet to materialize. Meanwhile the person that could afford to buy and did in 2008 has paid down close to half of their mortgage. If they did pre-payments they might even be mortgage-free.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  12. #372

  13. #373
    Many major RE markets across the world are declining in synch. When this credit cycle finally ends, I think it's going to be painful.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  14. #374
    Quote Originally Posted by Smallcock View Post
    I don't think prices will ever be cut in half. That would mean a price reversion back to the mid to late 2000s.

    The best method is to buy whenever you can afford to. If you can't afford, don't buy. If you're going to live in the place you buy, it doesn't matter whether prices go up or down over the next decade.
    I agree with this part.

    Two points:

    1) My first house....six months after I paid for it the value dropped 25%. That meant it was only worth the mortgage and I'd lost my down payment. Ten years later I got back half my down payment but still sold at a loss. The next house, after 18 years is worth 5 X what I paid. The patience paid off whereas if I walked from my first house who knows where I'd be.

    2) Told a family member ten years ago that real estate was inflated and to keep renting. Thankfully they found a good deal and didn't listen to me (Lesson learned on my part).

    Find a deal that works and stick with it. Real estate, markets....whatever.

  15. #375
    Quote Originally Posted by wbh32 View Post

    Find a deal that works and stick with it. Real estate, markets....whatever.
    Good advice. Buy something if its affordable. Not barely affordable, but affordable and comfortable. You can't always have everything you want. Live within your means.

    As far as the sentiment and direction of the RE market?.....Rates are expected to rise another 1/4 point this month. We could see two more over the next year after that. Interest rates dropping over the last 40 years along with home prices increasing over the last 40 years is no surprise. There is a direct correlation between the two(and its inverse). If rates are going up?...............

    And by the way, costs in every way are going up as well; not just rates. Toronto property tax bills have been rising with hydro rates and gas, and sewer/garbage.....all the costs are going up and wages for the most part have not kept up at all.

    Maybe there is no crash, but I'd hate to have just bought multiple investment properties and hold on for the next 10 year only to find out that my properties are worth 10% less and have to pay for capital expenditures like furnaces, roofs, air, etc. Or better yet, I keep hearing about "one time" assessments in condos all over city and they always tend to be about $30 000. That's a surprise bill for $30 000 that nobody every plans for.

  16. #376
    Houses still not selling in my area

    Quote Originally Posted by The "Bone" Ranger View Post
    I am (was) in a high demand area and based on my observations in the last two months the market has died (in relative terms) - inventory is not moving or if, verrrrry slow.

    My guess is that things will stabilize over the next couple of years. I don't know if the Chinese government clamping down on the 50k per year FX limit is a part of the cause, limiting the bribery money entering Canada?

    Aria Alexander

  17. #377
    did a drive through in my old area where I sold my house months ago. there is now more inventory then 4 months ago. prices are still overvalued.

  18. #378
    Quote Originally Posted by angrymime666 View Post
    did a drive through in my old area where I sold my house months ago. there is now more inventory then 4 months ago. prices are still overvalued.
    It's a waiting game right now. People are waiting for the prices to drop further and deeper. On average, homes' prices in GTA have been dropping about 10 - 20 % from a year ago. The trend of price's dropping still continues. So people are just playing the watching game right now without buying much these days...

    If Canada may and will be in economic recession from the Trump's tariffs on various Canadian products and demolishing of NAFTA agreement, then the home's prices will sink much further.
    Last edited by NiceToMeetYou; 08-16-2018 at 12:05 AM.

  19. #379
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    Well Canada will be in recession soon, if it is not already (By definition, recessions can only be announced after they have been going on for some time). The recession will occur not because of the Trump tariffs- although that doesn't help- but just because recessions are a normal part of the business cycle and we are due, or past due, perhaps. Housing prices will fall in a recession as will prices generally. But then so will wages, if it goes on long enough. All this is perfectly normal. High end, large, expensive homes will suffer more than smaller ones, so if you re looking to trade up, hang on a bit.

  20. #380
    Quote Originally Posted by amazing age View Post
    Well Canada will be in recession soon, if it is not already (By definition, recessions can only be announced after they have been going on for some time). The recession will occur not because of the Trump tariffs- although that doesn't help- but just because recessions are a normal part of the business cycle and we are due, or past due, perhaps. Housing prices will fall in a recession as will prices generally. But then so will wages, if it goes on long enough. All this is perfectly normal. High end, large, expensive homes will suffer more than smaller ones, so if you re looking to trade up, hang on a bit.
    soon could be a year or two from now...higher oil prices could lift Canada for a year or more; but a higher rates and further housing price corrections could take its toll too..once again probably not til next year.

  21. #381
    I'm waiting...

    Vancouver housing prices are beginning to decline for all housing types, including condos. I don't see how Toronto gets out of this unscathed. In fact, the slowdown is being felt in worldwide major real estate markets.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  22. #382
    Quote Originally Posted by wonkyknee View Post
    soon could be a year or two from now...higher oil prices could lift Canada for a year or more; but a higher rates and further housing price corrections could take its toll too..once again probably not til next year.
    higher brent and wti does not mean better prices for canadian oil. The sentiment is better (or was) but canadian production is generally heavily discounted.

    https://oilprice.com/Energy/Crude-Oi...Crude-Oil.html

  23. #383
    Saw an article. Over house prices up 1% from last year.

    My hope is 3% over the next ten years year to year to get to early retirement.

    But I knew it would start slow.
    I endorse Senator Bernie Sanders for President in 2020.

    It is my hope Tulsi Gabbard becomes his running mate.

  24. #384
    houses that I have been viewing are still going for multiple offers above ask. nothing insane as 2016 but over ask by 5-10k where I am looking. single detached bungalows with original owners that have never been updated since they were built.

    even a tear down dump in hamilton for 169k will go over ask.

    I think I may forgot about buying a house in southern ontario and go buy out of province and live in another country for 6 months out of the year.

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