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real estate..... is it true??

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Smallcock

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Smallcock

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exceed said:
If Macleans can predict anything is when my pizza is ready in the oven. Everything is a bubble until it bursts but buying a house is the safest financial you can ever make.
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The editor didn't make any predictions as far as timeline goes. He only pointed out that booms and busts follow tried and true patterns and we're seeing what happens in the last stages of booms, especially in Vancouver.

Shadow lending, shadow and multiple flipping, prices increasing exponentially year after year while the median wage in Vancouver is the lowest in all provinces (and entirely incapable of giving citizens buying power), people trying to get into the market at all costs, and so on.

The sole reason for Vancouver's soaring real estate is foreign money which accounts for 1/3 of all real estate being bought. The bubble will pop once that Chinese money dries up. But nobody knows when that will happen (i.e. when the Chinese economy inevitably collapses).
 
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exceed

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zoobot said:
I agree with the inevitability of the Chinese economic collapse, but the question to me is what will they do when the collapse hits? I think it is highly likely that they will funnel their remaining funds towards safe havens like Canada.
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Anybody who thinks the Chinese economy will collapse in the next couple of decades is a complete idiot
 
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Smallcock

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exceed said:
Anybody who thinks the Chinese economy will collapse in the next couple of decades is a complete idiot
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I disagree, and it'll happen sooner than that.
 
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wonkyknee

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It may well be the safest ....

exceed said:
?........ but buying a house is the safest financial you can ever make.
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I bought a house in Toronto in 88, held on for 14 years, lost a few thousand every year in cash flow, then sold for 60 loss on original price. I'll agree though it has been good in Toronto the last 16 years. In general it probably is one of the safer investments, yet I wish on nobody what I went through back then when timing goes bad. Sooner or later in this market people will experience the same type of pain. It's inevitable.
 
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Smallcock

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Smallcock

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Jubee

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Friend is looking to sell his property now finally since her brothers and herself settled the estate. But now they're quarreling over whether to use traditional means, agent/broker, or PropertyGuys and ComFree.
ComFree looks actually good, you would probably have to pay the buyer's agent's commission but considering how much you could save in total commission fees, not too bad.
 
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exceed

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SkyRider said:
The old Italians and Portuguese in my area are cashing out. Some of them own 2, 3, 4 or more houses.
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Old people needs the money to enjoy themselves while they still can. What's the point of making all the money in the world when you can't spend it. There's no real indication the housing market will suffer from a crash. For the housing market to crash we would need to see a sharp increase in unemployment rates, and low sales value.
 
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Kazuma_Kiryu

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Tiny and reasonable 1000 sq ft bungalows in Vancouver city sell for about 2-3 million CAD often-times... You don't even begin to notice the high end luxury mansions there until you get to the $8-$10 million range sometimes...
 
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SkyRider

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Another house sold for way above asking on my street. The old Portuguese and Italians are cashing out. It is a sure sign that we are at the market top.
 
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onceaday

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Sky the CDN banks are a little pricey at the moment but the DIV's are still reasonable. If you bought $BNS back in Q1 in the low/mid 50's you would be loving it now. I am finding more value in several REIT's particularly in the GTA apartment rental space (like CapReit) and also Long Term Care. significantly higher DIV's and good stability. $EXE is at some lows currently, big DIV, divested U.S. properties. Adding large in the $7's. Careful with the P/E's they remain out of whack. But I agree CDN banks are a no brainer if you enter on a dip.

SkyRider said:
Buy bank stocks. When and if the real estate market crashes they will be the biggest landowner in Canada. If the real estate market doesn't crash then banks will make their spread on mortgage loans.

BTW: Don't leverage up too much.
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Smallcock

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Robert who stars on Shark Tank also put his house up for sale for $close to $20 million, but he's going through a nasty divorce.

Here's some interesting numbers:

http://www.huffingtonpost.ca/2016/06/22/toronto-real-estate-low-rise-homes_n_10602808.html

Gone are the days when you could find a bounty of low-rise homes on the Toronto real estate market.

They were here only 10 years ago, when there were 16,420 for sale. But those days are gone, supplanted by an era in which there were only 1,985 available in the Greater Toronto Area (GTA), as of last month.
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