Calgary real estate prospects

[Buster]

What is a "negative asset"?

[JohnnyHockey13]

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ROI is meaningless these days when it comes to RE. Its all about capital gainz.


Its awesome to see HK RE slowly crumbling. Those who bought in in 2019-2021 are now down at least 20%. There rental ROI is less than 2%. Meaning if market is stagnant, it will take more than 10 years just cover the negative asset.

I was recently looking into buying or renting a new place, saw a 10m flat slashing down to 7.7m with no bites still. The rental income on a similar unit is around 16-18k/month.

Are you talking Hong Kong?... great, so now more people will buy in Canada.

[ThePenIsMightier]

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What is a "negative asset"?

It's like a Positive Liability.
HODL

[killramos]

I think the word you were looking for was HAWT

[Power_Of_Rotary]

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Are you talking Hong Kong?... great, so now more people will buy in Canada.

Yup.

Actually, part of the problem is the large volume of people leaving HK and over supplied in homes for sale.

Many friends and coworkers moved to Canada/UK/Aus. Definitely a boost for the RE sector for these countries. Hard to say the actual influence but those who left HK tend to be the "middle/upper" class. When I say middle class I mean the average joe who fully owns one or more shitty piece of property valued over 1m USD.

I have a colleague who sold their 20m HKD home in HK and bought 5 houses/apartments in the UK.

[Power_Of_Rotary]

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What is a "negative asset"?

Sorry, this is a local HK slang.

Its where you are suicidal, feeling like shit, reevaluating life choices, night sweats, depression, etc

[ThePenIsMightier]

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Sorry, this is a local HK slang.

Its where you are suicidal, feeling like shit, reevaluating life choices, night sweats, depression, etc

Sounds great, there.

[killramos]

fucking spoiled Canadians.

[suntan]

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I have a colleague who sold their 20m HKD home in HK and bought 5 houses/apartments in the UK.

Why have one falling knife when you can have five.

[Power_Of_Rotary]

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Why have one falling knife when you can have five.

Meh. with 20m asset he has room to catch the knife

[pheoxs]

Anecdotal but there was almost a dozen houses for sale in Fairview a month ago and now were down to 3. Even the 600k+ ones sold finally which was a surprise. Not sure if the market is just getting hotter or just less listings going into winter but might be another interesting spring. Detached inventory is 15% lower now than last Oct which was already the lowest since the '08 crash.

[Power_Of_Rotary]

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Anecdotal but there was almost a dozen houses for sale in Fairview a month ago and now were down to 3. Even the 600k+ ones sold finally which was a surprise. Not sure if the market is just getting hotter or just less listings going into winter but might be another interesting spring. Detached inventory is 15% lower now than last Oct which was already the lowest since the '08 crash.

perhaps given the slowdown in sales, people are holding off listing to wait and see. But Id love to see an 08 crash again for my own benefits. Cant wait to see condos in Vegas going for less than a entry level BMW!

[kJUMP]

Update on the Rosedale build with Maillot:

Demolition and clearing done. We opted for our heating/cooling to be done via ground source (as opposed to NG furnace and AC), so a company called Thermal Creek drilled 3 vertically oriented bore holes 475' deep for this purpose. These geothermal loops will then be connected to the heat pump/HVAC system in the mechanical room. Electricity will be via rooftop solar. Excavation is now ongoing and they hope to have the subfloor done by early November.

In the interim, we signed Louis Duncan-He Designs to handle the interior design angle, complete with elevations and renderings. They're great/fun to work with actually, and I think they interface quite nicely with Maillot. They provide a ton of expertise and handle a lot of the minutiae and other micro-decisions that we would have otherwise on our hands.

No big issues or complaints so far.

[msommers]

Geothermal is incredible. Excellent choice

[Manhattan]

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Update on the Rosedale build with Maillot:

Demolition and clearing done. We opted for our heating/cooling to be done via ground source (as opposed to NG furnace and AC), so a company called Thermal Creek drilled 3 vertically oriented bore holes 475' deep for this purpose. These geothermal loops will then be connected to the heat pump/HVAC system in the mechanical room. Electricity will be via rooftop solar. Excavation is now ongoing and they hope to have the subfloor done by early November.

In the interim, we signed Louis Duncan-He Designs to handle the interior design angle, complete with elevations and renderings. They're great/fun to work with actually, and I think they interface quite nicely with Maillot. They provide a ton of expertise and handle a lot of the minutiae and other micro-decisions that we would have otherwise on our hands.

No big issues or complaints so far.

Does Maillot have an exclusive contract on that neighborhood or are they just that good? Would be cool to see a thread dedicated to the progress. How big will the house be?

[killramos]

They seem like the current direction the wind is blowing for high end builds and Reno’s.

[kJUMP]

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Geothermal is incredible. Excellent choice

Thanks, we agree! Do you have personal experience with geothermal?

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Does Maillot have an exclusive contract on that neighborhood or are they just that good? Would be cool to see a thread dedicated to the progress. How big will the house be?

Lol yeah square pink signs all over the place here. The owner, Rob Ohlson, is super friendly and loves the area. Both he and his sister have recently built their own flagship homes adjacent to one another, along Crescent Road. They have another lot, a few doors down on Crescent, if anyone is interested lol. The sister's house in particular is quite a production, you can check out some visuals on their IG. So that just gave us a lot more confidence, laying down roots in Rosedale, when the builder has done the same. Incidentally, the owner of Alloy Homes also lives in the area.

50x120 lot. 3500sqft above, 1400 below.

[89coupe]

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Thanks, we agree! Do you have personal experience with geothermal?



Lol yeah square pink signs all over the place here. The owner, Rob Ohlson, is super friendly and loves the area. Both he and his sister have recently built their own flagship homes adjacent to one another, along Crescent Road. They have another lot, a few doors down on Crescent, if anyone is interested lol. The sister's house in particular is quite a production, you can check out some visuals on their IG. So that just gave us a lot more confidence, laying down roots in Rosedale, when the builder has done the same. Incidentally, the owner of Alloy Homes also lives in the area.

50x120 lot. 3500sqft above, 1400 below.

Do you have a rendering of your home you can share?

You should start your own thread on your build.

[you&me]

+1 on hoping for a build thread.

[JfuckinC]

agree'd, i'm a hypocrite, i wanna see build threads lol