Personal Finance

don't understand how people benefit from housing crash...

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  • Apr 9th, 2015 10:59 am
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Deal Fanatic
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Apr 20, 2011
5310 posts
484 upvotes
Vancouver
BlueGray wrote: Do you live eternally in Kindergarden?

Here's a lesson for you - when people get charged with criminal or civil proceedings and are sentenced in a judicial hearing, when that verdict is guilty, and for example that person is convicted of white collar fraud or business deception/negligence, they get penalized. The verdict is announced, the facts are reviewed, and this person may be found guilty of being a "liar"

Turning around at that point and telling the judge, the lawyers, the witnesses, the court scribe and reporters that "what you say is what you are" doesn't cut it.

And in fact they are not what this liar is.

Furthermore, calling anyone who points out facts a "hater" is a greater reflection on you than the one pointing out facts such as "actually, Vancouver house prices are ridiculously high, and it is not beneficial for the wider community to be so entrenched in debt and diverting investment to a fundamentally non GDP producing area of the economy"

Whilst you may not understand, underneath your heavy set of (apparent) delusions, some people will.

So: no, "what you say is what you are" doesn't apply here or in many cases and, in this case, as with the others, you are showing your true colors. No other people are automatically what you are, but yes, they can certainly see what you are doing.

Cheers!
This isn't a court room and thus the rules of evidence do not apply.
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
484 upvotes
Vancouver
BlueGray wrote: :lol: popbottle is adopting the broken record strategy
what you say is what you are

http://www.boma.bc.ca/media/8901/1242430966.pdf
However, further analysis shows that Vancouver
residential taxpayers pay the least amount of tax in the Lower Mainland, based on a house with the same
market value in each municipality
Member
May 9, 2014
426 posts
151 upvotes
BC
popbottle wrote: This isn't a court room and thus the rules of evidence do not apply.
You must be a very sad man.

For your clarity :) it illustrates the point, does not infer that this a courtroom.

But one thing has not changed - you are a scheming liar and low lying snake.
Check fine print of mortgages- *
& be wary of posters who spread misinformation - Posts
Member
May 9, 2014
426 posts
151 upvotes
BC
popbottle wrote: what you say is what you are

http://www.boma.bc.ca/media/8901/1242430966.pdf
However, further analysis shows that Vancouver
residential taxpayers pay the least amount of tax in the Lower Mainland, based on a house with the same
market value in each municipality
Read popbottle's illustration of the truth of how high GVA property taxes AND RE prices are, through his lies!

dont-understand-how-people-benefit-hous ... 691981/41/
dont-understand-how-people-benefit-hous ... 691981/42/
Check fine print of mortgages- *
& be wary of posters who spread misinformation - Posts
Member
May 9, 2014
426 posts
151 upvotes
BC
BlueGray wrote: Folks, not only does Vancouver:

1. Make you pay at least 3 times more for a house purchase, as compared to America
2. It also has a minute job market with industry salary lows across any major city in the world, not least compared to US jobs and salaries
3. A falling currency which reduces purchasing power and increases the cost of imports :(
4. Finally it also has high property taxes even for an entry level house in the GVA - at least $5-8K on average

Thanks popbottle for so clearly helping the folks see this - too bad for your mole task today on behalf of the Vancouver REA. The Board President might be calling you soon to give you a little talking to, tut tut!
I have to add GVA also helps salesmen like popbottle make a living - interesting city....
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Deal Fanatic
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Apr 20, 2011
5310 posts
484 upvotes
Vancouver
BlueGray wrote: you are a scheming liar and low lying snake.
What you say is what you are
Member
May 9, 2014
426 posts
151 upvotes
BC
popbottle wrote: What you say is what you are
:lol: The truth hurts, doesn't it?
Check fine print of mortgages- *
& be wary of posters who spread misinformation - Posts
Newbie
Apr 24, 2014
67 posts
25 upvotes
Toronto, ON
Was actually shopping around for where to live last year, and searched the property tax rates in various cities I had interest in. Put them here as it was quite interesting the variation between cities:

Vancouver = 0.37%
Richmond Hill = 0.89%
Vaughan = 0.90%
Markham = 0.83%
Toronto = 0.72%
Hawaii = 0.26%
New York = 1.23%
New Jersey = 1.89%
Connecticuit = 1.63%
Los Angeles = 0.74%
Orange County = 1.0%
Silicon Valley = 1.3%
Florida = 0.97%
North Carolina = 0.78%
Colorado = 0.6%
Utah = 0.6%.

Not drawing any conclusions on high property taxes, as it depends on the house value as well, but I found it interesting to see the big variations.

I eventually choose Vaughan.

Btw, interesting points on the thread about pros/cons of waiting for a crash before buying RE. I have a different philosophy. If you are going to live in the city (rather than just investment), then one approach is not to wait for a correction (if prices have gone up a lot), but to get into the market quickly with a smaller place that is more affordable (instead of renting). Then if the prices continue to rise, you will be happy as you will make some profit and not feel like you missed out completely. If the prices go down, you can then sell your place (at a loss), but upgrade to a larger place (which has gone down similar % as your smaller place, but more absolute $).

Either way if the market goes up or down, you will feel you benefited, so you can sleep at night and now worry about whether the RE prices go up or down.

Lots of counter arguements to above approach, but just thought I'd share my 2 cents... :)
Deal Fanatic
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Dec 8, 2007
5550 posts
2221 upvotes
You know what a housing "crash" or "correction" will do? Kick out the investors and speculators.

People who need to buy houses to live and sell houses for whatever reasons are still going to do just that.
Hydropwnics wrote:"TodayHello is a certified hustler and original gangster."
Sr. Member
Aug 6, 2014
830 posts
300 upvotes
Ottawa, ON
to answer original question, i would benefit from housing crash. i have a super stable job, about $35k saved for a downpayment (which isn't tied up in stocks or anything that could crash), and currently rent. i am also looking to buy a house to live in, not as investment. so if house prices were cut in half or something next month i would definitely benefit from it.
Deal Guru
User avatar
Mar 31, 2008
13011 posts
3095 upvotes
Toronto
Asset Inflationary period = Borrowers win. Savers LOSE

Asset Deflationary period (Housing decline) = Savers WIN. Borrowers LOSE.

So the winners have been borrowers since the recovery from the dot com bust.

I know a few, who had been sitting on the sidelines with savings. In 2009 when housing crashed, they swooped right in because they had cash. Borrowers equity declined or couldn't get credit or were scared to get credit.
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
484 upvotes
Vancouver
peidyt17 wrote: Was actually shopping around for where to live last year, and searched the property tax rates in various cities I had interest in. Put them here as it was quite interesting the variation between cities:

Vancouver = 0.37%
Richmond Hill = 0.89%
Vaughan = 0.90%
Markham = 0.83%
Toronto = 0.72%
Hawaii = 0.26%
New York = 1.23%
New Jersey = 1.89%
Connecticuit = 1.63%
Los Angeles = 0.74%
Orange County = 1.0%
Silicon Valley = 1.3%
Florida = 0.97%
North Carolina = 0.78%
Colorado = 0.6%
Utah = 0.6%.
Vancouver property taxes are shockingly low, as they should be. That's mostly because commercial properties pay nearly 4 times the tax rate.

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