Comments on: Cowtown blues http://www.greaterfool.ca/2008/06/03/cowtown-blues/ Book and Weblog - Authored by Garth Turner Wed, 08 Feb 2012 19:26:56 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: redcurlygirl http://www.greaterfool.ca/2008/06/03/cowtown-blues/comment-page-2/#comment-1771 redcurlygirl Sat, 07 Jun 2008 23:45:55 +0000 http://www.greaterfool.ca/?p=253#comment-1771 Wow! reading this are we ever glad that we RENTED in Calgary for now..read Garth's book after we sold in Toronto and husband got transferred here..we realized that Calgary is vastly overrated when it comes to housing prices..there can't be that many people in a city of one million that can afford $400+ mortgages for something basic! We sold off one car and downsized as Garth suggested and moved inner city, renting a great townhouse and taking public transit..saving tons for now! And our "equity" from the sale ( 240000 ) sitting nicely in the bank making interest. Our rental costs are great and we ready to enjoy the good life out here being debt and mortgage free! As Garth said , you should NEVER have 90% of all your money in one investment and a home is just that..as long as we're making money ( equity) one way or the other we'll be fine for retirement time,now to bank the difference. Wow renting is stress free , no stress with rising interest rates, no interest! except for out money making money, no high maintenance costs and no loss when we leave in a couple of years! plus no extra fees except utilities and rent! Loving it..thanks Garth for turning around our perspective of what home ownership ( major debt!) is! Wow! reading this are we ever glad that we RENTED in Calgary for now..read Garth’s book after we sold in Toronto and husband got transferred here..we realized that Calgary is vastly overrated when it comes to housing prices..there can’t be that many people in a city of one million that can afford $400+ mortgages for something basic! We sold off one car and downsized as Garth suggested and moved inner city, renting a great townhouse and taking public transit..saving tons for now! And our “equity” from the sale ( 240000 ) sitting nicely in the bank making interest. Our rental costs are great and we ready to enjoy the good life out here being debt and mortgage free! As Garth said , you should NEVER have 90% of all your money in one investment and a home is just that..as long as we’re making money ( equity) one way or the other we’ll be fine for retirement time,now to bank the difference. Wow renting is stress free , no stress with rising interest rates, no interest! except for out money making money, no high maintenance costs and no loss when we leave in a couple of years! plus no extra fees except utilities and rent! Loving it..thanks Garth for turning around our perspective of what home ownership ( major debt!) is!

]]> By: Calgary rip-off http://www.greaterfool.ca/2008/06/03/cowtown-blues/comment-page-2/#comment-1768 Calgary rip-off Sat, 07 Jun 2008 21:16:57 +0000 http://www.greaterfool.ca/?p=253#comment-1768 Renters have all the cards in their hands. As a renter I can just sit and wait...I'll be laughing when the market crashes. Not if, when...I dont have any committment to staying in Calgary other than my job, which in healthcare is a necessity. Oil is increasingly unstable...watch out!!! Renters have all the cards in their hands. As a renter I can just sit and wait…I’ll be laughing when the market crashes. Not if, when…I dont have any committment to staying in Calgary other than my job, which in healthcare is a necessity. Oil is increasingly unstable…watch out!!!

]]> By: David http://www.greaterfool.ca/2008/06/03/cowtown-blues/comment-page-2/#comment-1748 David Sat, 07 Jun 2008 03:33:14 +0000 http://www.greaterfool.ca/?p=253#comment-1748 I think Vultur is too optimistic about Calgary. Nothing is forever, including high oil prices.The high oil prices are fueling a great deal of cost push inflation and wages are for sure not keeping pace. It seems pure simplistic fantasy to believe that Calgary will be a go-go oil boomtown in 40 years when families have finally paid off their McMansions and McCondos. I think Vultur is too optimistic about Calgary. Nothing is forever, including high oil prices.The high oil prices are fueling a great deal of cost push inflation and wages are for sure not keeping pace. It seems pure simplistic fantasy to believe that Calgary will be a go-go oil boomtown in 40 years when families have finally paid off their McMansions and McCondos.

]]> By: Dave in Calgary http://www.greaterfool.ca/2008/06/03/cowtown-blues/comment-page-2/#comment-1740 Dave in Calgary Fri, 06 Jun 2008 17:40:13 +0000 http://www.greaterfool.ca/?p=253#comment-1740 CALGARY, June 2 /CNW/ -: * Single family Calgary metro new listings added for the month of May totaled 3,432.... Single family Calgary metro sales for the month of May came in at 1,368... (ouch) * Calgary metro condominium new listings added in May 2008 were 1,538... Condominium sales for the month of May were 577 (ouch) CREB(R) President, Ed Jensen: "Now is not the time to wait until the sale is over and then decide to buy" (the sale hasn't started yet Ed, but thanks for publishing the stats so we know the clearance sale is coming) "The conditions today are perfect for buyers. We have a surplus of homes on the market" (perfect to wait... not only is there a 5 figure surplus, but your own stats show its getting worse. Oh, conditions are perfect for buyers... perfect to wait for a year for the wheels to come off this mess. Or do what Ed want... buy into a surplus market before the price drops... good one) "A professional REALTOR(R) understands what is going on in the market and can help the buyer make an informed buying decision" (that's right... buy now, buy tomorrow, buy yesterday, buy again, buy, buy, buy, buy... great professional help) "The Calgary Real Estate Board is a professional body of 5,752 licensed brokers and registered associates" (Over 5000? Wow... I guess we have to continue buying at any price, at any stage of the cycle, or these folks won't have a pot to piss in). CALGARY, June 2 /CNW/ -:

* Single family Calgary metro new listings added for the month of May totaled 3,432…. Single family Calgary metro sales for the month of May came in at 1,368…

(ouch)

* Calgary metro condominium new listings added in May 2008 were 1,538… Condominium sales for the month of May were 577

(ouch)

CREB(R) President, Ed Jensen:

“Now is not the time to wait until the sale is over and then decide to buy”

(the sale hasn’t started yet Ed, but thanks for publishing the stats so we know the clearance sale is coming)

“The conditions today are perfect for buyers. We have a surplus of homes on the market”

(perfect to wait… not only is there a 5 figure surplus, but your own stats show its getting worse. Oh, conditions are perfect for buyers… perfect to wait for a year for the wheels to come off this mess. Or do what Ed want… buy into a surplus market before the price drops… good one)

“A professional REALTOR(R) understands what is going
on in the market and can help the buyer make an informed buying decision”

(that’s right… buy now, buy tomorrow, buy yesterday, buy again, buy, buy, buy, buy… great professional help)

“The Calgary Real Estate Board is a professional body of 5,752 licensed brokers and registered associates”

(Over 5000? Wow… I guess we have to continue buying at any price, at any stage of the cycle, or these folks won’t have a pot to piss in).

]]>