aw

Real estate is always a smart investment. In the short term, there are
price fluctuations but in the long run, you always see prices going up
given the same conditions.

aw

aw

exactly what I wanted to say!!

darren

See "The Wealthy Barber"


to save $200 per month. That's wealth too. Seriously, it is quite possible
that renting works out cheaper over the long haul. Your mileage may vary.

So what do you call finance charges and leak repair costs?

Those are good reasons.... though I've seen many renters paint their walls.

That is not always true. I know many people who sold at a loss.... some
"equity", huh?

Good luck,
Darren

kim

Have you checked out the rents lately?

Kim

db

especially if you have a slut and a psycho bitch as tenants

er, or so I've heard

aw

Financing and repair costs help to maintain your net worth. You have to
maintain what you have. You don't get to keep what you rent. If your
finances allow, it's always best to buy a house and to illegally rent back a
porton of it to reduce your mortgate outflows.

aw

pawn

That strengthens my argument.

The Toronto area. $150k gets you nothing here as well, but I was trying
to be conservative. Everything you say makes it a worse idea to buy a
condo in Vancouver.

He said $900 for rent. He said $1100 for his condo, which I find very
low, but I was trying (sigh, again) to be conservative to make a point.


Did you even bother to read what I wrote?


Real estate fees are the bulk of the expense, so it's irrelevant where he moves.


I disagree entirely. But who cares? It's just my opinion.

Not as much as you'd have if you saved your money until you're ready to buy for real.


.....shucks.

pawn

$1000/mo is nothing compared to the carrying costs on a condo that, in
your own words, is considerably more expensive than $150,000.

pawn

Sorry, any serious finacial ****yst will say the same. I invite you to
dispute my earlier posted ****ysis. Numbers don't lie.


Not true, buying will almost always workout to be more expensive.


We're not talking about cars. Unfair ****ogy picking something that depreciates at 30%/yr.

This is a perfect example of the psycological pitfall in home ownership:
the "I own it myself" mentality. I got news for you: you don't own
shit until the mortgage is paid off. You're just giving your money to a
bank instead of the developer that owns the apartment complex.


Then they had a very, very poor advisor. Anybody retired, with money in
anything but GIC's, T-Bills or dollar accounts has receieved poor advice.


As belittling as this sounds, so what: you haven't a clue. Your
ignorance of RSP's resounds, especially since we're talking about a
huge, long term investment like a condo or house.

pawn

Say it as many times as you like: you're still wrong.

And BTW: are you so sure real estate will continue to spiral in the
next couple of decades? Not me: the entire baby boomer generation is
about to retire. They will be looking for smaller, easier, cheaper
dwelling.

Furthermore, IMO, recent low financing costs, combined with government
initiated first time buyer incentives has saturated the market with
cheap affordable housing. This will come back to haunt home owners in
the coming years.

I find it entirely possible that residential real estate will lose value
in the long term for the first time since WWII.