Locked: Richmond Hill housing price down 7% year over year
- Last Updated:
- Jul 15th, 2017 11:21 am
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- airfarceone [OP]
- Member
- Jan 19, 2015
- 423 posts
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- Scarborough, ON
- RobertSmalls008
- Deal Addict
- Nov 2, 2014
- 1137 posts
- 450 upvotes
- Scarborough, ON
Troll game on point.airfarceone wrote: ↑ Wow, that much equity? you must be living in Whitby. Nice city.
- licenced
- Deal Fanatic
- Jul 3, 2011
- 6517 posts
- 3798 upvotes
- Thornhill
So the very same houses that sold on 7/14 were resold on 7/15?airfarceone wrote: ↑ Yesterday 7/14 RH housing average price: $1,024,299
Today 7/15 RH housing average price: $1,019,047
down $5,252 in one night. Looks like anyone who bought in April in RH is kissing another $5k good bye when they wake up.
What's in the air lately with all these people who display the same lack of market fundamentals?
- Marubozu
- Deal Addict
- Sep 12, 2006
- 1503 posts
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- WinterSleep
- Deal Addict
- Jan 26, 2016
- 2240 posts
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- Toronto, ON
How are you not banned yet??airfarceone wrote: ↑ Yesterday 7/14 RH housing average price: $1,024,299
Today 7/15 RH housing average price: $1,019,047
down $5,252 in one night. Looks like anyone who bought in April in RH is kissing another $5k good bye when they wake up.
- crocp8
- Banned
- Feb 13, 2017
- 951 posts
- 1283 upvotes
If you are buying to live in long term (5,10 or 20+ years), yes, it's a good time to buy as RE always goes up in the long term. Always.
If you are a speculator looking to make a quick buck in a year, March was a horrible time to buy.
- rkanwar109
- Banned
- Nov 18, 2014
- 824 posts
- 769 upvotes
- Toronto, ON
It's definitely not a good time to buy in the midst of a crash. If you are buying, you are just speculating and catching a falling knife! OUCH!
Those who bought in april are down 14% already and this month looks even uglier!
- rkanwar109
- Banned
- Nov 18, 2014
- 824 posts
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- Toronto, ON
- Marubozu
- Deal Addict
- Sep 12, 2006
- 1503 posts
- 438 upvotes
Of course. It's always a great time to buy as long as you can afford what you're buying and can stomach rising rates and the ups and downs. Real estate is firstly a roof over your head, and an investment second.
I have no sympathy for those that overleveraged to buy into the craze in March and are crying now.
- trekkie500
- Member
- Jun 12, 2017
- 377 posts
- 377 upvotes
And what is a good time to buy? At the bottom that everyone waits for then all jump in to create the jan-mar frenzy? Yeah good luck.rkanwar109 wrote: ↑ It's definitely not a good time to buy in the midst of a crash. If you are buying, you are just speculating and catching a falling knife! OUCH!
Those who bought in april are down 14% already and this month looks even uglier!
- rkanwar109
- Banned
- Nov 18, 2014
- 824 posts
- 769 upvotes
- Toronto, ON
You don't have to buy at the bottom to win. You just have to wait until a reversal. This is basic charting 101 from the stock market.trekkie500 wrote: ↑ And what is a good time to buy? At the bottom that everyone waits for then all jump in to create the jan-mar frenzy? Yeah good luck.
The only difference is that real estate is much less liquid, so your downtrends will continue for years and even then the reversal will take a while. It's much easier to catch the bottom in RE than it is with stocks.
- Mars2012
- Moderator
- May 28, 2012
- 12484 posts
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- Saskatoon
Troll thread/derailed with bickering
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