Calgary real estate prospects

[Pacman]

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You consider that money in the bank? You have to sell it first, no?

Do we have to deduct money owing from that amount as well? bummer

[Buster]

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You consider that money in the bank? You have to sell it first, no?

balance sheet is balance sheet. You also have to sell stocks if you want to realize your paper gains.

[ExtraSlow]

Isn't it off-brand for a realtor(tm) to be arguing against using property value in a discussion of wealth? 'coupe you feeling okay bud?

[killramos]

If I buy a property that’s underwater 5 years later what is my net worth?

Asking for SKR

[Buster]

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Isn't it off-brand for a realtor(tm) to be arguing against using property value in a discussion of wealth? 'coupe you feeling okay bud?

sshhhh.

You just ruined it.

[89coupe]

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balance sheet is balance sheet. You also have to sell stocks if you want to realize your paper gains.

I can sell stocks and have cash in hand within a day.

My house even fully paid off is not liquid. Takes time to sell, etc.

I can borrow money against it, sure, but that’s borrowed money.

If I do sell it, in this scenario a primary residence, I still need a place to live.

It’s an asset for sure, but it’s definitely not liquid.

Not sure why I am even saying this lol, I’m bored.

[Pacman]

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I can sell stocks and have cash in hand within a day.

My house even fully paid off is not liquid. Takes time to sell, etc.

I can borrow money against it, sure, but that’s borrowed money.

If I do sell it, in this scenario a primary residence, I still need a place to live.

It’s an asset for sure, but it’s definitely not liquid.

Not sure why I am even saying this lol, I’m bored.

Most people I know don't include their house equity when determining their net worth as they don't consider the equity in the house to be liquid and only count money that is invested in other markets. I agree with this logic. I guess these days one could argue the house is an investment. It's typically money managers that hate it when someone claims "I've got a net worth of $2M" only to find out they only have $500k of cash to invest with them and the rest is tied up in the house and not accessible for them to earn commissions from.

[vengie]

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I can sell stocks and have cash in hand within a day.

My house even fully paid off is not liquid. Takes time to sell, etc.

I can borrow money against it, sure, but that’s borrowed money.

If I do sell it, in this scenario a primary residence, I still need a place to live.

It’s an asset for sure, but it’s definitely not liquid.

Not sure why I am even saying this lol, I’m bored.

If you hire a top notch real estate agent you can have your house sold in ~24 hours (above asking of course). At 30 day closing you have cash in 1 month.
Not liquid, but not like you're waiting for years to realize your gainz.

[dirtsniffer]

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https://www.decalmonster.com/welcome...decal-sticker/

That should be the first sign immigrants see at airports.

I don't want to direct it at new immigrants. I want to direct it at fucksticks migrating from Ontario

[pheoxs]

Why wouldn't you consider your house in net worth? Just because it's not liquid doesn't mean it's not an asset. Someone that owns a ~2M house paid off and someone that owns a condo are in very different financial situations even if they have the same amount of cash invested otherwise.

But your guys definition if I have a few million in a bonds that money doesn't exist because I can't withdraw it today.

[89coupe]

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If you hire a top notch real estate agent you can have your house sold in ~24 hours (above asking of course). At 30 day closing you have cash in 1 month.
Not liquid, but not like you're waiting for years to realize your gainz.

You still need a place to live.

At retirement you sell your home and then what?

[ercchry]

If a bank is willing to extend credit based completely on if you do or do not own something… it’s part of your net worth

You should also not selling any asset if you still believe if the growth of that asset. If you need cash, leverage the assets.

I can get you spendable funds into your bank account with a loan secured to a home faster than it takes for a stock sale to actually settle. Is there a cost? Of course. There is also an opportunity cost to liquidating easily liquidated assets.

[Pacman]

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Why wouldn't you consider your house in net worth? Just because it's not liquid doesn't mean it's not an asset. Someone that owns a ~2M house paid off and someone that owns a condo are in very different financial situations even if they have the same amount of cash invested otherwise.

But your guys definition if I have a few million in a bonds that money doesn't exist because I can't withdraw it today.

Your logic is sound. I suspect it might be because it's get complicated with money owing on the house, HELOC's etc. If you have a $2M house paid off, I think it's reasonable to include a significant percentage of that in a net worth calculation for retirement etc as you can sell the house, start renting for $2,500/month and all of a sudden your net worth jumps by $2M. I think it's the stock brokers/financial advisors that don't like to include clients houses in net worth calculations as it's money they won't get to control and they simply want to know the amount of investible cash someone has.

I say don't include it as it's better to think you have less money than you do more. Then you have an nice little extra buffer once you retire.

[ercchry]

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You still need a place to live.

At retirement you sell your home and then what?

You move into assisted living. It’s a much better experience if you sold a $2m home than if you did not

[vengie]

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You still need a place to live.

At retirement you sell your home and then what?

Thailand bro.

[89coupe]

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You move into assisted living. It’s a much better experience if you sold a $2m home than if you did not

LOL, you will need assisted living when you retire?

Jesus fuck, our Country is screwed.

[Pacman]

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LOL, you will need assisted living when you retire?

Jesus fuck, our Country is screwed.

suspect he means assistance with healthcare, daily living vs financial assistance.

[ercchry]

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LOL, you will need assisted living when you retire?

Jesus fuck, our Country is screwed.

That’s what would trigger a sale, yes.

If you had a free and clear house and were unable to amass enough capital for a passive income stream to support you at a younger age then there are lending products that will unlock your equity earlier… again, something completely dependent on if you do or do not own said asset

[jutes]

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I don't want to direct it at new immigrants. I want to direct it at fucksticks migrating from Ontario

So put them up at cactus clubs?

[Tik-Tok]

Two pages of arguing over a joke, peak Beyond.