• Last Updated:
  • Sep 15th, 2014 4:44 pm
Tags:
None
Penalty Box
Apr 16, 2012
3565 posts
683 upvotes
Greely
arkroyal wrote:
Sep 12th, 2014 2:23 pm
Right.. and when you post drivel about "being 34 years old with 2 kids and a wife in a small 2-bedroom apartments" all because you waited to buy real estate... that's not a prediction about where prices are headed?
How is that a prediction? RE may very well crash 20-30%, which is still higher than early 2000 prices.

Or RE may very well gain another 10%-20%..no one knows.


That is making fun of your situation because you are the one trying to time the market and failing miserably.

I look forward to your presence in 2015, 2016, 2017 for more market timing failures.
Deal Fanatic
May 1, 2012
8358 posts
5702 upvotes
Markham
arkroyal wrote:
Sep 12th, 2014 2:23 pm
Right.. and when you post drivel about "being 34 years old with 2 kids and a wife in a small 2-bedroom apartments" all because you waited to buy real estate... that's not a prediction about where prices are headed?
It's not. A logical and rational human being would have figured out the analogy.

A 2 bedroom apartment is a little tight for 4 people, especially with 2 kids and a pet maybe?

So, they'll naturally wanna go out and buy/rent something larger.



Speaking of 2 bedroom apartments, isn't that what you are living in; paying some other guy's mortgage?
Deal Fanatic
May 1, 2012
8358 posts
5702 upvotes
Markham
techcrium wrote:
Sep 12th, 2014 2:26 pm
How is that a prediction? RE may very well crash 20-30%, which is still higher than early 2000 prices.

Or RE may very well gain another 10%-20%..no one knows.


That is making fun of your situation because you are the one trying to time the market and failing miserably.

I look forward to your presence in 2015, 2016, 2017 for more market timing failures.
Maybe he will start a thread of his own in 2016 when/if prices flatline or dip.

*TORONTO BUBBLE* The road to a 50% housing crash (w/ monthly stats)
Deal Fanatic
Mar 24, 2008
5617 posts
1714 upvotes
Toronto
arkroyal wrote:
Sep 12th, 2014 2:14 pm
Cutting it close with that mortgage payment this month? KD is discounted at no frills this week FYI

(see how stupid personal attacks are?)
While you guys were arguing, I stocked up on KD at No Frills. Glad to see that I didn't miss much but thanked for the money saving tip!
Deal Addict
Apr 19, 2014
1042 posts
990 upvotes
Anikiri wrote:
Sep 12th, 2014 2:22 pm
There is no point reasoning with him, I just humour him now. This guy whines like a little 2 year old kid because his toy train is missing. He is taking out his anger at being priced out onto those who are not priced out.

Even moderate people like ksgill think this kid whines way too much.
Alright you win you win. When you're living in your multimillion dollar semi in prestigious north Richmond Hill and I'm just an impoverished renter.. could you toss me some scraps of food?
Deal Fanatic
May 1, 2012
8358 posts
5702 upvotes
Markham
ksgill wrote:
Sep 12th, 2014 2:28 pm
While you guys were arguing, I stocked up on KD at No Frills. Glad to see that I didn't miss much.
Arguing is done between adults. We're dealing with a kid who knows where to get the cheapest KD.
Deal Fanatic
May 1, 2012
8358 posts
5702 upvotes
Markham
arkroyal wrote:
Sep 12th, 2014 2:28 pm
Alright you win you win. When you're living in your multimillion dollar semi in prestigious north Richmond Hill and I'm just an impoverished renter.. could you toss me some scraps of food?
It's funny cause some townhomes in Richmond Hill do go for well over a million. Don't you think that's funny?

You are probably poor though, it's always the poor ones that cry the loudest.
Penalty Box
Apr 16, 2012
3565 posts
683 upvotes
Greely
arkroyal wrote:
Sep 12th, 2014 2:28 pm
Alright you win you win. When you're living in your multimillion dollar semi in prestigious north Richmond Hill and I'm just an impoverished renter.. could you toss me some scraps of food?
As opposed to having that money sit in a paltry savings account gaining 2% interest? I really do hope you continue posting here to remind everyone what happens when one tries to time the market.
Deal Addict
Apr 19, 2014
1042 posts
990 upvotes
hahah oh man.. I forgot why I stopped coming here. Don't worry I'll check back again in October and give you guys a chance have an orgy about how rich you are for having mortgages and how poor I must be
Deal Addict
Jan 7, 2014
2382 posts
448 upvotes
Winnipeg
techcrium wrote:
Sep 12th, 2014 2:04 pm
lol why do you care about the danger to random people on an internet forum?

I don't care if I think LULU is over priced and people are buying it.

I don't care if you buy Barrick Gold and I think that's over valued.


You can buy 10,000 shares of Barrick gold for all I care.


The only thing I care about is when someone moans about real estate prices everyday and then pretend that he "cares" about other random people on an internet forum and that it is "dangerous".
I tend to disagree...I too feel that the current valuations of the RE in Toronto and Vacouver are too high but don't start attacking me just because I said it because that is not the point I am making.

Just as you feel being pinched when someone says that RE is overvalued and will eventually correct, it is exactly same way when others feel when some people claim here that RE prices will go up forever. So arguing too much on this is useless.

Point is - When someone is expressing the views about highly overvaluated RE against the wages that the Torontonians are earning, he in my opinion is expressing a genuine and correct concern. Indeed I feel those who criticize them for this are being narrow minded.

Only the ignorants can argue over the fact that currently our society is highly indebted because of a single asset class that is RE . Think about the generation that is passing out of college right now and what they are earning, how many are getting good jobs etc. Is it good to see a society going towards a direction where it will be too tough for the new generation to afford housing at a reasonable price? Even bad, our society does not have a culture where children stay in the parent's house for longer time which in some other countries considered pretty normal. With this trend of the RE prices, society should expect a change in this culture too.

I repeat - There is no point in feeling pinched by a person taking opposite stand because we ourselves often take same stand on their views. Its reciprocal. Those who have put everything in the RE and basically no money left at the end of the month after paying the mortgage definitely feel offended when others point out that the RE will not go up forever . Similarly those who can't buy or choosing not to buy at these values feel the same way when people pinch them that they will never be able to buy if they hold their decision for long.
Penalty Box
Apr 16, 2012
3565 posts
683 upvotes
Greely
Asker123 wrote:
Sep 12th, 2014 2:49 pm
Only the ignorants can argue over the fact that currently our society is highly indebted because of a single asset class that is RE . Think about the generation that is passing out of college right now and what they are earning, how many are getting good jobs etc. Is it good to see a society going towards a direction where it will be too tough for the new generation to afford housing at a reasonable price? Even bad, our society does not have a culture where children stay in the parent's house for longer time which in some other countries considered pretty normal. With this trend of the RE prices, society should expect a change in this culture too.

Think of this generation of people buying $900 Nobis Cartel jackets, $50,000 BMW (BMW thread), $1000 iphone 6s, $10,000 credit card debt.

Should I expect people to stop buying that crap? No...they go ahead and do whatever they.

Should I expect people to stop buying Barrick Gold stock? No...they go ahead and buy it if they want.

lol if you think you are being a "saint" and "warning RE prices"? On RedFlagDeals of all places and strangers you don't even know?


If the RE Bears REALLY wanted to be a saint, they would warn their friends to NOT buy real estate not warn random online strangers.


Let me guess, they tried, but they were ostracized and made fun of so they come online to vent their frustrations for trying to time the market.


I would love to meet Arkroyal in real life and let him explain to me how having his money in a 2% savings account is better than buying a home. I would love to see the math as well. I would in fact buy him a few drinks as well for the laughs.
Penalty Box
Apr 16, 2012
3565 posts
683 upvotes
Greely
Margin debt is at an all time high, Credit Card debt is at an all time high, there's war in Isis and middle east, people are wasting their money buying crap like Canada Goose...


There are better things to worry about than someone buying real estate at 10% down and giving up their daily coffee and daily lunch outings. Buying real estate "forces" people to save when they otherwise cannot be helped to save. What is so bad about that?



99% of the time you are "warning" about real estate...you probably have a stake in the crash.
Deal Addict
User avatar
Jun 28, 2007
3859 posts
1023 upvotes
Another housing prices thread? Oh geez, here we go again..... :facepalm:

Top