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  #1  
Old 07-24-2008, 04:49 PM
invest invest is offline
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Default invest in real estate

Is it a good time to invest in real estate? The prices of homes in US are very low at the moment. Does it make sense to invest now or to wait more? Any ideas?
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  #2  
Old 07-24-2008, 06:03 PM
Canadian Canadian is offline
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I wouldn't touch real estate in the next 2 years, especially in Canada. The downturn in the Canadian real estate has barely started, and we have a long way to go down. For now we see huge inventory increases across the country, but prices still hold with the exception of Calgary and Edmonton. This is soon to change drastically. By the end of the year I expect major housing markets like Toronto, to start showing year-over-year price declines. For now home sellers are still in denial, but the market always has its way, and the increased inventory will translate to lower prices very soon. Once prices start going down, the buyers will quickly disappear (who wants to buy depreciating asset) and the fun will begin .
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  #3  
Old 07-25-2008, 02:05 PM
trent trent is offline
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It won't be fun for everybody , however I don't have any compassion for all the greedy people that bought ridiculously overpriced homes, and now are complaining that life is not fair. They helped fuel the greatest real estate bubble, and now they'll have to pay for it. Everything was fine for them when they got double digit or near double digit yearly increases in the price of their homes, but now the thing are not so good they are looking for somebody to blame (loose lending standards, the government should do something, etc.)

I really hope that real estate prices in Canada crash by 50%. This will teach the "I want it now" people a lesson, and will make real estate affordable for prudent savers, who didn't want to buy in the bubble.
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  #4  
Old 07-25-2008, 03:13 PM
bullish bullish is offline
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I don't see anything funny about people suffering and losing their homes! You guys are a bunch of losers who were never able to buy a home, and you never will. The prices of real estate in Canada will not fall, though there might be some pockets without appreciation for a few years.

Keep dreaming about lower prices. You missed the train and now you are simply bitter!
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  #5  
Old 07-25-2008, 03:38 PM
trent trent is offline
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Quote:
Originally Posted by bullish View Post
I don't see anything funny about people suffering and losing their homes! You guys are a bunch of losers who were never able to buy a home, and you never will. The prices of real estate in Canada will not fall, though there might be some pockets without appreciation for a few years.

Keep dreaming about lower prices. You missed the train and now you are simply bitter!
You should have choosen a different username in the forum. May I suggest "moron" for example?

Do you work in the mortgage/housing/real estate industry by any chance? You must be blind not to see the trouble the Canadian economy is in, or the other option is that you have vested interest in keeping the real estate bubble inflated. I'm guessing it's the second one. Saying that the RE prices will not fall, is ignorant at best.

By the way the prices already started to fall in Canada. If you don't believe me read the article below:

http://www.financialpost.com/story.html?id=656681

Uh, and one more thing, don't waste the forum members' time, just find a rock and crawl underneath!
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  #6  
Old 07-25-2008, 07:16 PM
invest invest is offline
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I can see that my question has fuelled a huge discussion. Thanks all for your opinions. Thanks for the article trent!
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  #7  
Old 07-28-2008, 05:43 PM
Steven Steven is offline
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I bought a house in Toronto, 3 years ago and it has appreciated close to 30% so far. Even if things get really bad for the Canadian housing market, I don't expect that the value of my house to go below what I paid for it in 2005.
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  #8  
Old 07-28-2008, 06:04 PM
bullish bullish is offline
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You think you are smart and funny aren't you?

For the record I don't have anything to do with the mortgage, financing and/or real estate industries. I own a home and I guess that makes me guilty in your eyes, no matter what.

The article you posted also says that the house prices dropped largely due to the Calgary's and Edmonton's markets:

"
Calgary and Edmonton -- have gone from helping to push the average sale price in Canada to new heights to dragging it down.
"

For me the whole thing is nothing but a blip, on the way up. Uh, one more thing, don't bother to answer, I won't read your reply at all.

Quote:
Originally Posted by trent View Post
You should have choosen a different username in the forum. May I suggest "moron" for example?

Do you work in the mortgage/housing/real estate industry by any chance? You must be blind not to see the trouble the Canadian economy is in, or the other option is that you have vested interest in keeping the real estate bubble inflated. I'm guessing it's the second one. Saying that the RE prices will not fall, is ignorant at best.

By the way the prices already started to fall in Canada. If you don't believe me read the article below:

http://www.financialpost.com/story.html?id=656681

Uh, and one more thing, don't waste the forum members' time, just find a rock and crawl underneath!
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