Real Estate

Locked: A Thread for Peace ☮

  • Last Updated:
  • Nov 9th, 2018 12:04 pm
Tags:
[OP]
Deal Addict
Jan 26, 2016
1162 posts
921 upvotes
Toronto, ON

A Thread for Peace ☮

I don't think there is any other area on RFD as divided as RE. And understandably so, given the large sums of money involved.

But I think we need a zen thread, a peaceful, calm, and positive space where people aren't insulting and shouting at each other.


Let us acknowledge a few points.
  • The bulls had no idea RE was going to rise to these levels. Yes, they believed in housing, but sustained 20%+ increases were surprising to them too. Many of them simply bought a place to raise their family, and if they had some money left over, bought a rental unit and managed on the side. And then, prices went up faster than they could even believe.
  • The bears never believed Toronto had a strong enough economy to sustain these RE prices. For many years, they saw Toronto as the lesser of World-class cities, and only a stepping stone to better cities with real economies. But now they are seeing things change, in the past decade or so, with more money flowing in and the city transforming into a globally prominent city and a major economic and cultural hub. And they are seeing demand for housing increase, as evident from rental prices going up.


At the end of the day, bear or bull, we are all subservient to the greater winds that none of us can control or predict. We all put our chips on the table, and wait for the world to do its thing.

I hear predictions, with high levels of certainty, saying 2020 we will have a recession. Or conversely, that condo prices will double up by 2028. I think we should all realize that none of us know, or are in real control. We are all on this boat together, and the waves of the ocean are unpredictable one way or another.

Who knows what future will bring. But, please, let us all be a bit more humble and have a bit more empathy towards those on the other side.

Image
Share:
15 replies
Penalty Box
User avatar
Aug 11, 2005
3904 posts
1243 upvotes
What’s Toronto’s economy?
google NotDoug
Deal Fanatic
Feb 9, 2009
7591 posts
4525 upvotes
You are right op we got rid of Kathleen Wynne, I can be at peace.
Deal Addict
User avatar
Dec 13, 2016
2949 posts
2328 upvotes
Luckyinfil wrote:
Nov 8th, 2018 5:53 pm
What’s Toronto’s economy?
Renters
Banned
Aug 24, 2018
196 posts
119 upvotes
I'm older, so I bought cheap real estate. In 1979 I bought a new corvette. That same year I purchased a waterfront lot between Horseshoe Bay and Sunset Marina (West Vancouver). I paid 5 times the price of the new vette for the 75' of waterfront.

Basically that ratio has accelerated to roughly 30-35 times the vette.

Sad really.
Deal Fanatic
Feb 22, 2011
5817 posts
5495 upvotes
Toronto
otismod wrote:
Nov 8th, 2018 8:05 pm
I'm older, so I bought cheap real estate. In 1979 I bought a new corvette. That same year I purchased a waterfront lot between Horseshoe Bay and Sunset Marina (West Vancouver). I paid 5 times the price of the new vette for the 75' of waterfront.

Basically that ratio has accelerated to roughly 30-35 times the vette.

Sad really.
I'd imagine the area was much different then than it is now though in terms of how developed it is. You could probably still get land that cheap if you went to an area that is currently as undeveloped as that area was 40 years ago?
Deal Fanatic
Feb 9, 2009
7591 posts
4525 upvotes
otismod wrote:
Nov 8th, 2018 8:05 pm
I'm older, so I bought cheap real estate. In 1979 I bought a new corvette. That same year I purchased a waterfront lot between Horseshoe Bay and Sunset Marina (West Vancouver). I paid 5 times the price of the new vette for the 75' of waterfront.

Basically that ratio has accelerated to roughly 30-35 times the vette.

Sad really.
I’m jealous

F’n jealous

Now I know how some bears feel when they hear about much people made in real estate

But... unlike bears I also salute you for your kids will be taken well care off.
Banned
Aug 24, 2018
196 posts
119 upvotes
mazerbeaner wrote:
Nov 8th, 2018 8:07 pm
I'd imagine the area was much different then than it is now though in terms of how developed it is. You could probably still get land that cheap if you went to an area that is currently as undeveloped as that area was 40 years ago?
Actually, I was the only undeveloped lot.
Deal Fanatic
Feb 22, 2011
5817 posts
5495 upvotes
Toronto
otismod wrote:
Nov 8th, 2018 9:47 pm
Actually, I was the only undeveloped lot.
I am jealous then. I was looking at buying a cottage last year, albeit in Ontario, and it was just so expensive. Even for a half decent one in an okay area it was pushing half a million.
Member
May 18, 2015
455 posts
646 upvotes
Thornhill, ON
mazerbeaner wrote:
Nov 8th, 2018 9:54 pm
I am jealous then. I was looking at buying a cottage last year, albeit in Ontario, and it was just so expensive. Even for a half decent one in an okay area it was pushing half a million.
We have an Ontario waterfront cottage that's been in the family since the early 80's... Those prices aren't coming down. Get one while you can.

This, coming from a RE bear.

*edit to add: Nobody has mortgages on these properties and everyone hands them down to their children.
Millenial1994 wrote:
Dec 9th, 2018 12:31 pm
not possible
literally impossible to lose on RE in GTA if you hold for at least 2 years.
Deal Addict
Aug 19, 2002
2929 posts
270 upvotes
RFD should just rename this the Real Estate Religion forum because you would think people are arguing on fundamental beliefs that define their entire being. Anything intelligent or factual gets beaten down to bickering and name calling on both sides and everything is derailed. Not sure if most of the regulars on here are just trolling or are just so dense that they can't agree with anything that doesn't align to their own belief.
Deal Fanatic
Feb 22, 2011
5817 posts
5495 upvotes
Toronto
jonkoktosen wrote:
Nov 8th, 2018 10:29 pm
We have an Ontario waterfront cottage that's been in the family since the early 80's... Those prices aren't coming down. Get one while you can.

This, coming from a RE bear.

*edit to add: Nobody has mortgages on these properties and everyone hands them down to their children.
I probably will in 2020 but I am doing a post grad now so a lot of my cash is getting set on fire.
Deal Addict
Nov 26, 2004
2282 posts
361 upvotes
otismod wrote:
Nov 8th, 2018 8:05 pm
I'm older, so I bought cheap real estate. In 1979 I bought a new corvette. That same year I purchased a waterfront lot between Horseshoe Bay and Sunset Marina (West Vancouver). I paid 5 times the price of the new vette for the 75' of waterfront.

Basically that ratio has accelerated to roughly 30-35 times the vette.

Sad really.
This sort of reminds me what was posted on this thread 9 years ago.
http://forums.redflagdeals.com/cheapest ... us-749577/

At the time the bears were saying buying a condo in Orlando for the price of a Camry is playing with fire. Fast forward to today, a 2009 Camry may be worth $6k CAD, but the 1 bedroom example I used at the time is now worth $80k USD, which after conversion is $100k CAD.
Deal Addict
Jul 14, 2002
1902 posts
663 upvotes
side note: hey rj, how did you switch your username to mazerbeaner?

i think the RE thread is dividing bulls = homeowners and bears = non homeowners.
1/2 of the arguments from old money vs new money and the other 1/2 from predicting the market going up or down.
i'm learning to keep silent on predictions and not take any sides.
just keep it productive with any useful news/tips that may help the betterment of the RE subforum like the others.
Deal Addict
User avatar
Jan 5, 2003
2407 posts
452 upvotes
WinterSleep wrote:
Nov 8th, 2018 5:30 pm
At the end of the day, bear or bull, we are all subservient to the greater winds that none of us can control or predict. We all put our chips on the table, and wait for the world to do its thing.
Except the bears lost big time due to bad advice from the likes of GT. The only reason the bulls are arrogant about their massive winnings is the bears keep saying stupid things, like the market is flat from 2014... It's ridiculous. I missed out on bitcoin, and pot stocks, you don't see me in the investment forum pointing out bitcoin didn't go to 200,000 or that pot stocks are down. The point is people who know what they're doing already made out like bandits and don't care.
When the truth offends, we lie and lie until we can no longer remember it is even there. But it is still there... every lie we tell incurs a debt to the truth. Sooner or later, that debt is paid.

Top