So your argument is that housing values in Canada can only ever go up (either slowly or fast)?
So your argument is that housing values in Canada can only ever go up (either slowly or fast)?
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Last edited by Sugarphreak; 08-13-2019 at 10:03 PM.
So now there is risk?
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Last edited by Sugarphreak; 08-13-2019 at 10:03 PM.
I think your reason is erroneous.
You are suggesting that there is either a catastrophe, or housing will continue to grow unabated.
It's a false dichotomy.
Beyond Bully
Natural disaster completely sinks the West Coast and everyone moves to Calgary. Is that possible? lol
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
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lmao.Originally posted by Buster
erroneous.
unabated.
dichotomy.
that's all I had, no contributions.
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Thats probably more due to Walden being almost complete. In Legacy I know they have barely sold any homes over $500k. Only 1 sold in June when 22 homes were for sale.Originally posted by macman64
Where is this happening? My builder in Walden has had prices increase about $30k in the last 4 months since they are selling quicker than they can get land.
Every home I've seen listed in Legacy over $500k has had over $15k in price reductions and most are still listed.
The showhomes (~$600k range) in Legacy sold for more than $20k below list (for the ones that sold)
$30k increase in 4 months?? They are smoking crack because even during 2014 summer, Legacy only went up $15-$20k in 6 months. Best to hold off or look in another community.
The house across the street from me was listed for $589.9k last December, still on the market and listed for $549k
The house next to me was listed for ~$560k in March, still on sale for $540k...
Cowboy Hunter
Not the entire west coast, but a lot of Van.Island, and Vancouver itself would be severely damaged, and a lot of people might want to move to a earthquake free city...Originally posted by max_boost
Natural disaster completely sinks the West Coast and everyone moves to Calgary. Is that possible? lol
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here is the best part, the richest I presume they are mostly living in Richmond that area is under sea level. Can you imagine what would happen if tsunami hits the coast of BC?Originally posted by Tik-Tok
Not the entire west coast, but a lot of Van.Island, and Vancouver itself would be severely damaged, and a lot of people might want to move to a earthquake free city...
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Originally posted by SilverRex
here is the best part, the richest I presume they are mostly living in Richmond that area is under sea level. Can you imagine what would happen if tsunami hits the coast of BC?» Click image for larger version
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Last edited by Sugarphreak; 08-13-2019 at 10:03 PM.
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He must be a CalgaryPuck member.Originally posted by Disoblige
lmao.
that's all I had, no contributions.
Banned
DeadmontonOriginally posted by macman64
Where is this happening? My builder in Walden has had prices increase about $30k in the last 4 months since they are selling quicker than they can get land.And the housing market is still pretty nutso here, goes to show just how much cash they were making per house.
And keep in mind this was back in April. Brand new build, brand new neighbourhood, pie lot, small lane house with triple garage out back built how I want, instantly offered $15k off.
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infills have been hit very hard as well. I think when you look at price crashes, you need to examine the demographics. The ones most affected by the recent layoff are mid 20s- 30s professional couples who are the primary consumers for infills. Most established professionals 40s+ will have their houses paid off and can wait out longer periods of unemployment or retire early.
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Walden is less than 50% complete. They have another 8 years or so of building to go.Originally posted by avishal26
Thats probably more due to Walden being almost complete. In Legacy I know they have barely sold any homes over $500k. Only 1 sold in June when 22 homes were for sale.
Every home I've seen listed in Legacy over $500k has had over $15k in price reductions and most are still listed.
The showhomes (~$600k range) in Legacy sold for more than $20k below list (for the ones that sold)
$30k increase in 4 months?? They are smoking crack because even during 2014 summer, Legacy only went up $15-$20k in 6 months. Best to hold off or look in another community.
The house across the street from me was listed for $589.9k last December, still on the market and listed for $549k
The house next to me was listed for ~$560k in March, still on sale for $540k...
20k off list of 600k is only 3% and that is still on a finished home.
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I also believe Canadian housing price won't go down as long as Chinese money keep flowing in, especially CAN is so cheap to RMB now. Besides foreign investment pumping up the market, Canadian currency devaluation also keeps housing price appears "high"; just like how gas price is still selling for $1.10 CAN per litre at the pump while crude oil price is only at $50 USD.Originally posted by Buster
So your argument is that housing values in Canada can only ever go up (either slowly or fast)?
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I hate to tell you, but the Chinese are sitting on a giant bubble, with nwe and significant capital controls.Originally posted by oz388
I also believe Canadian housing price won't go down as long as Chinese money keep flowing in, especially CAN is so cheap to RMB now. Besides foreign investment pumping up the market, Canadian currency devaluation also keeps housing price appears "high"; just like how gas price is still selling for $1.10 CAN per litre at the pump while crude oil price is only at $50 USD.
Buying a house based on the fact that the Chinese will still be able to fake their way along is bad reasoning.
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I agree that inside of China everything from stock market to real estate is fake and bubbled, and that's why the smart Chinese money is investing heavily outside of the country.Originally posted by Buster
I hate to tell you, but the Chinese are sitting on a giant bubble, with nwe and significant capital controls.
Buying a house based on the fact that the Chinese will still be able to fake their way along is bad reasoning.
But as a hard working house owner I really don't want a huge housing correction due to current oil crash, if it does happen I'm very sure more people will get hurt than benefited.
Last edited by oz388; 07-21-2015 at 05:10 PM.
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That is because you still view your house as an investment, rather than as an expense.
If you are highly leveraged, and a correction comes, you probably get hurt.
But the only people who get hurt in pricing corrections, are the people that deserve it...
A huge housing correction in Vancouver would be a good thing for most residents, as it would allow people to actually buy houses. The same can be said here, just on a smaller scale.
But people are trained to view an illiquid asset, which they must own in some version to be rolled into what they view as their "net worth".
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