Comments on: When

By: Charles

Charles — Thu, 26 Nov 2009 20:02:30 +0000

So when you do think the Canadian market will recover? Sooner than Las Vegas? After?

By: The Garth Turner Effect | Real Estate Toronto Canada

The Garth Turner Effect | Real Estate Toronto Canada — Fri, 20 Nov 2009 18:47:10 +0000

[...] Turner posted a link to TrueCondos.com from his very popular blog: Greater Fool. Garth is probably Canada’s best known ‘Bear’ when it comes to real estate and [...]

By: Vancouver_bear

Vancouver_bear — Fri, 20 Nov 2009 07:42:27 +0000

#155 Soju on 11.19.09 at 12:30 pm

good for you that you are not increasing rents, but prepare to hold them fixed for the next 5-7 years or even lower them when 5 circle circus leaves the town.

By: Soju

Soju — Thu, 19 Nov 2009 16:30:08 +0000

Gord in Vancouver… Unless you know what my strategy is, your comments is useless.

Vancouver Bear… Who said I was increasing my rents. Actually, I only increase the rent on new tenants not existing ones.

By: Confused

Confused — Thu, 19 Nov 2009 15:39:50 +0000

Hi Garth,
I started following your blog last year after purchasing your book greaterfool.I read your posts every single day.My husband and I make about 120,000.00 yearly.We both have very secure government jobs.My husband will have a great pension(company)at the end.We have 3 kids which two are in high school soon to go to university.We sold our house last year when the market hit its low in March for 60 000 less than what we could have gotten today.My husband as his second job builds on the side.We have accumulated a decent down payment.We are in a one year lease paying 2300 a month for a 2500 sq ft townhouse.We are about to give an offer on a lot because we just don’t know what to do because everything so far has gone the wrong way.The rent is killing us with our cash flow.The house we want to build would cost us approximately 720,000.If you were to buy that house now they are selling for 820,000.Now we could get a 10 year mortgage for 5.5(amortized for 25 years,if we wait we might pay more for interest.We have worked harder than anyone I know amongst our peers to get ahead.We have moved our kids from house to house every 4 years or so just trying to build equity.If prices fall the house we build could drop to approx.660,000 at 20% decrease or down to 580,000 (30%)but at least our money meanwhile won’t be going down the tube paying rent and we’ll have a low interest mortgage.If prices just stabilize and only go down 10% it doesn’t affect us.We would need a 300,000 mortgage.We do have other investments but this is how much of a mortgage would be needed.I am so scared we always seem to time everything wrong,we just keep chasing our tail and not getting ahead even though we work so darn hard.I really respect your opinion.Thank you for taking the time to answer this.

By: The Garth Turner Effect | TrueCondos.com - The Best Source for Toronto Condos

Thu, 19 Nov 2009 14:29:45 +0000

[...] Turner posted a link to TrueCondos.com from his very popular blog: Greater Fool. Garth is probably Canada’s best known ‘Bear’ when it comes to real estate and [...]

By: Evangeline

Evangeline — Thu, 19 Nov 2009 14:24:38 +0000

rory and taxpayer like you

here’s another good one …

Of all tyrannies a tyranny sincerely exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies, The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for own good will torment us without end, for they do so with the approval of their own conscience. — C.S. Lewis

By: Vancouver_bear

Vancouver_bear — Thu, 19 Nov 2009 05:55:23 +0000

#122 Soju on 11.18.09 at 7:28 pm

You are funny man, come to your renters and tell them you are increasing rent 20%….and immediately you will be the one paying several mortgages.
Rental market will see rents declining as wages are already stagnant….vacancy rates going up in Vancouver, on contrary bank rates will go up and your shacks will stay empty which will force you to decrese your rent and pay the difference yourself to minimize bleeding, the worst is yet to come and that will start just after five circle circus is over!

By: rory

rory — Thu, 19 Nov 2009 05:46:18 +0000

#142 Calgary_rip_off you said:

“If you have more power, intelligence, strength, whatever, you are OBLIGATED to help your fellow person.”

Cannot disagree …but what in the heck has this got to do with Government. Make US do it or should we have a society in that we WANT to do it …your vision makes us prostitutes beholding to the pimp masters – the big, bad G.

By: rory

rory — Thu, 19 Nov 2009 05:39:32 +0000

#142 Calgary_rip_off

Grasshopper …I know a way to quell the anger ..lose the dual citizenship …if you do not then you are a fraud … pick please.

Nine years of university education + in healthcare, and not making $400K plus …loser in comparison to other posters …now I get the anger.

Socialism is a one way street to become the “nanny state”…besides I am Canadian – thru & thru …unlike you…can you tell I feel dual citizens are just hedging their bets.

P.S. – Sweden loves you & and they love Americans…I think?