Canadian Banks | Forums | Terms of Use

Welcome to the Canadian Financial Forums forums.

You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!

If you have any problems with the registration process or your account login, please contact contact us.

Go Back   Canadian Financial Forums > Canadian Financial Forums > Real Estate and Mortgages

Reply
 
Thread Tools Display Modes
  #1  
Old 11-10-2008, 08:33 PM
trent trent is offline
Senior Member
 
Join Date: Jun 2008
Posts: 387
Default Home owners living in denial

I found the following interesting article on Yahoo Finance and I completely agree with it:

http://biz.yahoo.com/ap/081110/home_value_denial.html

Most homeowners still live in fantasy land and think that their homes are worth much more than somebody is actually willing to pay for them. What happens when the majority of the homeowner herd come to realize that their homes have lost a large percentage of the paper value they once had?
__________________
No debt
Reply With Quote
  #2  
Old 11-10-2008, 08:49 PM
bullish bullish is offline
Senior Member
 
Join Date: Jul 2008
Posts: 155
Default

This is a media propaganda, the housing in US has already bottomed, and here in Canada we don't have these problems. Now is a great time to buy real estate in Canada.
Reply With Quote
  #3  
Old 11-11-2008, 04:53 PM
trent trent is offline
Senior Member
 
Join Date: Jun 2008
Posts: 387
Default

Quote:
Originally Posted by bullish View Post
This is a media propaganda, the housing in US has already bottomed, and here in Canada we don't have these problems. Now is a great time to buy real estate in Canada.
You are a typical home owner in denial .
__________________
No debt
Reply With Quote
  #4  
Old 11-12-2008, 03:03 PM
Canadian Canadian is offline
Senior Member
 
Join Date: Jun 2008
Posts: 415
Default

The US real estate has not bottomed yet, as they have huge inventory and there are not many buyers out there. Until the supply and demand are in balance, forget about bottom there. As for Canada look at Toronto for example, in October 2008 the sales have fallen 38% compared to October 2007. The only way to remedy this is much lower prices.
__________________
Bear with me please
Reply With Quote
  #5  
Old 11-13-2008, 01:59 PM
Steven Steven is offline
Senior Member
 
Join Date: Jul 2008
Posts: 139
Default

I don't think we'll have a severe recession, and this will help housing prices. However some overleveraged people might have real problem, even if house prices fall just 10%.
Reply With Quote
  #6  
Old 11-14-2008, 08:13 PM
bullish bullish is offline
Senior Member
 
Join Date: Jul 2008
Posts: 155
Default

Quote:
Originally Posted by trent View Post
You are a typical home owner in denial .
No, I'm not. My house value is much higher that the purchase price I paid. In fact I expect the value of my house to increase a lot very soon.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 06:58 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2024, vBulletin Solutions, Inc.