Real Estate

"The condo you bought is getting 'crusty'": Kevin O'Leary in 2015 [His adivce: rent!]

  • Last Updated:
  • Apr 24th, 2019 12:03 am
[OP]
Deal Addict
Jan 26, 2016
1149 posts
908 upvotes
Toronto, ON

"The condo you bought is getting 'crusty'": Kevin O'Leary in 2015 [His adivce: rent!]

Here is a video of Kevin O'Leary slamming condos in 2015... of course we know anybody who bought then would be making a fortune in the past few years.

The moral of story: Don't put your blind trust in experts, which is what I think many people in society do. They emulate the thoughts or predictions that they see in new headlines or hear from experts, as opposed to thinking locally and with respect to their own circumstances, goals, and ideals.




It is now 2019, Think ahead, 2023 is right around the corner!
62 replies
Member
May 18, 2015
455 posts
646 upvotes
Thornhill, ON
"Markham detached prices aren't going anywhere": Van Navaratnam, Salesperson, Homelife Future Realty Inc in March 2017 [His adivce: buy!]

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 Fanatic
Feb 29, 2008
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jonkoktosen wrote:
Apr 11th, 2019 6:00 am
"Markham detached prices aren't going anywhere": Van Navaratnam, Salesperson, Homelife Future Realty Inc in March 2017 [His adivce: buy!]

Well, to his defense, B20 came out later that year and shook everything up. Not nearly on the same level as Kevin's nonsense.
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Sep 13, 2004
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WinterSleep wrote:
Apr 11th, 2019 1:51 am
Here is a video of Kevin O'Leary slamming condos in 2015... of course we know anybody who bought then would be making a fortune in the past few years.

The moral of story: Don't put your blind trust in experts, which is what I think many people in society do. They emulate the thoughts or predictions that they see in new headlines or hear from experts, as opposed to thinking locally and with respect to their own circumstances, goals, and ideals.




It is now 2019, Think ahead, 2023 is right around the corner!
Here's the real moral of story: Don't listen to Kevin O'Leary.
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Feb 9, 2009
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Bears listened to Garth turner for 10 years...
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Jun 26, 2005
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Yes it's funny to cherry pick things after the fact that people said that was wrong.

But you could also pick out 30 deals that these guys did that made them money, sometimes millions. You think Kevin O is losing money in Shark's Tank?

I'm not trying to defend him, but you have to look at someones overall result. Not just one deal.

I bet Kevin has a few properties of his own. He may be telling you to rent because he's a landlord himself. Experts or so called experts have their own agendas.

That's how the entire stock market system works too.
Member
Aug 16, 2011
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OTTAWA
I could give you 10 stock picks and 1 of them could go bankrupt, 2 over them lose value, and the rest double over 10 years... people would just remember the I picked the one that went bankrupt
Deal Guru
Aug 2, 2010
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Here 'n There
Just because there was a period of time when property prices increased dramatically doesn't mean he was wrong. A rising tide lifts all boats.

FYI Kevin Leary is a multi-millionare, which most of you aren't!
[OP]
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Jan 26, 2016
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Toronto, ON
eonibm wrote:
Apr 12th, 2019 10:27 am
Just because there was a period of time when property prices increased dramatically doesn't mean he was wrong. A rising tide lifts all boats.

FYI Kevin Leary is a multi-millionare, which most of you aren't!
History has shown, consistently, that house/condo prices have gone up. And with all his wealth, education, knowledge, and connections, you would think he would have been able to at least anticipate the surge/demand we saw in Toronto as opposed to this advice.

He goes so against the idea of buying that if you had a little trust in him you would seriously stay away from buying.
Deal Guru
Aug 2, 2010
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Here 'n There
WinterSleep wrote:
Apr 12th, 2019 10:41 am
History has shown, consistently, that house/condo prices have gone up. And with all his wealth, education, knowledge, and connections, you would think he would have been able to at least anticipate the surge/demand we saw in Toronto as opposed to this advice.

He goes so against the idea of buying that if you had a little trust in him you would seriously stay away from buying.
Condo's are financial liability time bombs with no privacy and neighbours you can't control. I would never buy only rent. Leary is right.
[OP]
Deal Addict
Jan 26, 2016
1149 posts
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Toronto, ON
eonibm wrote:
Apr 12th, 2019 10:49 am
Condo's are financial liability time bombs with no privacy and neighbours you can't control. I would never buy only rent. Leary is right.
millions of people are enjoying living close to transit or city centres while paying lower for living costs and enjoying other amenities that come with the condo life-style.

There are also condo rules neighbours must abide by or get booted.
Sr. Member
Aug 7, 2014
504 posts
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My parents raised their 6 kids in a condo, and I lived in a condo when I was single after university. To me, raising a family in a detached house is preferable, as I like a garden, a lawn for my kids to play, and garage to store my boat, my kayaks, etc. That is home to me.
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Dec 27, 2009
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Was Kevin speaking strictly of Toronto? Condos haven't done well everywhere.
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Feb 9, 2009
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How about the bears who listened to Garth turner for 10 years?
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Feb 9, 2009
7495 posts
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eonibm wrote:
Apr 12th, 2019 10:27 am
Just because there was a period of time when property prices increased dramatically doesn't mean he was wrong. A rising tide lifts all boats.

FYI Kevin Leary is a multi-millionare, which most of you aren't!
Did o’Leary write this article in his $10 mil Muskoka home?

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