Here’s a handy financial planning tip: Quit your job and start flipping condos.
You can not go wrong with this simple plan my friend, just look at the facts:
1. BC Jobs don’t pay well. look at this chart, just look at it. Our incomes have gone up, but not by as much as in Alberta or Ontario, both of whom get paid much better than us. At least our houses cost more.
2. Your job may leave you. Quit it before it quits you. In January 2009 the Metro Vancouver unemployment rate was 4.9%. Now it’s 7.8%. See which way that’s going? hint: it’s the opposite of house prices. Make your own secure future in the real estate biz today!
3. The Government wants you to. If the government didn’t want you to be speculating on real estate they wouldn’t hold interest rates at .25% and insure your mortgage with just 5% down (which the bank will give back to you in cash!) would they? It’s a pretty clear message, the only real road to riches is REAL ESTATE baby! We can all be Donald Trump!
4. Real Estate Never Goes Down. This is self explanatory. Prices have risen tremendously in Vancouver which clearly means it’s a hot sector whose track record is proven. In March 2010 the REBGV benchmark house price dropped by $455 to only $800,341. I smell a buying opportunity!
Does this sound exciting to you? Then YOU are the kind of financial intellect I’d like to work with!
I’m willing to offer you a very special deal for a limited time only. Send me $15,000 and I will send to you, absolutely free, a handsome inkjet print of these words on a 8.5 x 11 inch piece of paper suitable for framing. This will empower you to REMEMBER and BELIEVE the words so that they may bring you happiness day after day, even in the event of a completely unforeseeable market collapse.
Now go quit your job and start flipping condos.