Comments on: Too good to last

By: HOA Management Charlotte

HOA Management Charlotte — Fri, 17 Jul 2009 15:34:42 +0000

Your observation was really very interesting and very informative. Thanks for the information. I learned a lot.I enjoyed reading it.

By: Vancouver_bear

Vancouver_bear — Wed, 15 Jul 2009 15:37:11 +0000

#92 Nostradamus jr. on 07.14.09 at 9:36 pm

I am bear because I am bearish on housing prices and will pickup your 1.2 mil house for 1/5 of the price pretty soon….just wait…. the tidal wave is coming and will put you underwater, if you can’t see it then do yourself a favor and take some courses on economincs basics. Probably then you will stop making stupid predictions. #94 is right North Van is poor neighborhood comparing to West Van…..
BTW your Charmin is crap as all your predictions.

By: Future Expatriate

Future Expatriate — Wed, 15 Jul 2009 14:14:34 +0000

Finally understood the picture. MJ as an entertainment bubble. And every bit as detrimental to those who participated as the real estate bubble. With almost everyone involved victims.

Brilliant.

By: David Rockefeller

David Rockefeller — Wed, 15 Jul 2009 11:37:25 +0000

#86 Bailing in B.C.

Well, had I not listened to the “doomsayers” that there was a bubble about to burst, I would not have sold in 2004 and keep the place till this year and sold it for $620k (which is what the new owner did). The doomsayers were right, they were just premature. Still, I walked away with $150k after four years, which isn’t too bad.

By: Homeless in North Vancouver

Homeless in North Vancouver — Wed, 15 Jul 2009 05:47:56 +0000

Nostra, the reference should have been North Vancouver vs West Vancouver, nor Vancouver West.

You reference North Vancouver in the overwhelming majority of your posts, and I responded to a comment on homelessness in the North Shore.

Regardless, West Vancouver really is an entity unto itself, far superior to North Vancouver for all of the reasons previously stated.

West Vancouver – Next Financial, Leisure, Super Dooper Capital of the Universe…lol

By: Barb ... reader, Calgary

Barb ... reader, Calgary — Wed, 15 Jul 2009 04:19:18 +0000

“Gov’t is in the hands of fools in politics and villains in business”

— Herb @ 87
_______________________________

Right on, Herb.

By: Nostradamus jr.

Nostradamus jr. — Wed, 15 Jul 2009 01:36:59 +0000

“”And dear Nostra, we both know that West Van properties do make the North Shore look poor in comparison….”"

…Huh?….

West Van is the North Shore…it makes up half of it.
You thinking of the Vancouver West?

Vancouver…Bear

…..I’m not a realtor…go munch on some berries and don’t forget to use the Charmin.

By: Bottoms_Up

Bottoms_Up — Wed, 15 Jul 2009 01:23:28 +0000

Garth how about a running unemployment ticker at the top of your blog. If Canada is losing say on average 30,000 jobs a month, you could have it going up 1000/day or 42/hour or 2/3rd/minute….

By: Across The Fence

Across The Fence — Wed, 15 Jul 2009 01:05:15 +0000

#1 Kathleen Thanks!!! “Stealers Wheel” I was looking for that one !!!

By: Samantha

Samantha — Wed, 15 Jul 2009 00:31:46 +0000

#81 Hi Barb,
(and enjoyed your post, too)

“It was a given that leveraging to the hilt would be simple insanity — none of us would ever do what these home buyers are allowed to do today — gargantuan mortgages.”

So true Barb. I just can’t believe how much perceptions have changed and how quickly.

When Bill and I bought in rural Manitoba (**and we are NOT the Samantha and Bill from “The trap” and “Prey” – Yikes!**), we set a limit on the total purchase price based on our income/means and not the monthly payment, plus we went in with 30% down on a $35,000.00 house.

Yet even our town has experienced “bubble creep”. Houses doubled and in some cases tripled in price out here, starting in roughly 2007. I really like our house but I sure wouldn’t pay 70K or 100K+ for it, not in a rural town where the historic prices are no where near this level.

My brother and sister-in-law plan to transfer ownership of their house to their two young adult children and then rent for their retirement years. It is an unusual strategy, but they are taking this course of action so that my niece and nephew will have the security of shelter in the years to come without a huge mortgage.

Both of these young people work hard, but are low to average wage earners, so buying a home in a reasonably safe area is not viable for them, even in Winnipeg. The thought is that they will be able to afford maintenance and taxes while continuing to save for their futures. If they are sensible, this strategy will give them a fighting chance, and hopefully keep the “wolves in sheep’s clothing” at bay.