Real Estate

Locked: Richmond Hill housing price down 7% year over year

  • Last Updated:
  • Jul 15th, 2017 11:21 am
Member
Jan 19, 2015
423 posts
467 upvotes
Scarborough, ON
oasis100 wrote: You can't wait on the sidelines forever right, if you are in the market to buy, why not? rates only went up 25 basis points, it is still very low.
The crash is ongoing. I'd say it is better to wait.
Deal Addict
Nov 2, 2014
1137 posts
450 upvotes
Scarborough, ON
airfarceone wrote: Wow, that much equity? you must be living in Whitby. Nice city.
Troll game on point.
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
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.
So the very same houses that sold on 7/14 were resold on 7/15?

What's in the air lately with all these people who display the same lack of market fundamentals?
Deal Addict
Sep 12, 2006
1503 posts
438 upvotes
oasis100 wrote:
My opinion on the market right now is that its a great time for buyers. You can find homes for anywhere between 15-20% off the peaks from April, easily.
Classic realtor response. March was a great time to buy too, right? Don't wait to buy real estate, buy real estate and wait?
Deal Addict
Jan 26, 2016
2240 posts
2272 upvotes
Toronto, ON
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.
How are you not banned yet??
Banned
Feb 13, 2017
951 posts
1283 upvotes
alex_d10 wrote: Classic realtor response. March was a great time to buy too, right? Don't wait to buy real estate, buy real estate and wait?
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.
Banned
Nov 18, 2014
824 posts
769 upvotes
Toronto, ON
crocp8 wrote: 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.
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!
Banned
Nov 18, 2014
824 posts
769 upvotes
Toronto, ON
alex_d10 wrote: Classic realtor response. March was a great time to buy too, right? Don't wait to buy real estate, buy real estate and wait?
It's always a great time to buy, until it isn't.
Deal Addict
Sep 12, 2006
1503 posts
438 upvotes
crocp8 wrote: 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.
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.
Member
Jun 12, 2017
377 posts
377 upvotes
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!
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.
Banned
Nov 18, 2014
824 posts
769 upvotes
Toronto, ON
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.
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.

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.
Moderator
May 28, 2012
12484 posts
5278 upvotes
Saskatoon
Troll thread/derailed with bickering

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