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Thread: House Prices - due to tumble?

  1. #601
    I'd rather C2E than work!
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    Dec 2006
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    ^ Heh, if that were the case I'd be enrolling in a Real Estate course pronto.
    Nisi Dominus Frustra

  2. #602

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    Quote Originally Posted by kcantor View Post
    Quote Originally Posted by KC View Post
    Quote Originally Posted by Marcel Petrin View Post
    Yeah, my comment was only referring to those who are set on buying a house. But you're absolutely correct, for many people and especially younger ones just starting out, renting is not something to be ashamed of. And if you're disciplined in investing the difference between renting and owning, you'll likely do better over the long run. But that's a whole other debate topic, and frankly, I think most people will simply spend the difference rather than invest it.
    A few studies have shown that the forced savings through mortgage/ownership lead to a higher net worth.

    Considering the front-loading-interest bias of mortgage amortization that’s pretty amazing but that must be offset by the demand growth and tax free gains.

    Renters through pay a profit margin to landlords so that’sva loss somewhat comparable to banks taking interest. May be though that a renter’s diversified standard of living is much higher, earlier and longer, than the homebuyer. (Through a massive leverage of a mortgage the homebuyer brings forward s fantastic increase in one’s housing standard of living but then foregoes travel, eating out, moving about on a whim, etc.)
    in addition to the points you raised, you need to remember that canadians move on average every five years. based on the average cost of a home in canada, that means incurring about 160,000 in real estate commissions and 15,000 in other closing costs plus the costs of those periods of dual ownership or temporary accommodation. as that’s an average so the numbers would be higher in toronto and vancouver and lower in regina etc.
    I’ve moved once so just one commission on a vacant about to be expropriated house - a house larger than we ‘needed’, or need today. Then we spent thousands on renovations. So I guess that helped eliminate a move or two.

    As an aside, has anyone gone online to look at the most expensive houses for sale in Edmonton? I did so recently and was quite surprised at the high prices and the characteristics of the high end housing. Could be an interesting discussion for a new thread.

  3. #603

    Default

    Every year, enough for a new good sized city.


    Canadian Home Construction Takes A Plunge In The Middle Of A Population Boom

    “Recent estimates from Statistics Canada show the country's population grew by more than 518,000 over the past year, to 37.1 million. That's the fastest rate Canada has seen since the late 1980s, and the fastest rate of any G7 country.”

    https://www.huffingtonpost.ca/2018/1...th_a_23555468/

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