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patriotzed
patriotzed
9 years ago

@Best place on meth:

From an American couple’s perspective, 10 great reasons to rent and not buy.

A lot of these "reasons" are meaningless. For example, property taxes are always included in rent (for residential units in the US or Canada anyway). That's not a reason to rent. There are only 2 reasons to rent rather than buy (a house or anything else):

1. Because it's cheaper

2. Because it's less risky

If (1) is true, it's a bubble. Renting is supposed to be more expensive than buying because it's less risky.

patriotz
9 years ago

@jesse:

Because many need multi-year stability for personal reasons.

You only get multi-year stability when the interest rate is locked in over the entire amortization period (or when you pay cash). A lot of people are going to find that out the hard way.

Anonymous
Anonymous
9 years ago

@Best place on meth:

"Saw that report, made me sick to my stomach.

Make that 11 good reasons to rent."

Ya, cos that's SUCH a common story.

VHB
VHB
9 years ago

Please vote 73 down; my spreadsheet had a mistake for the projected totals. Here is the correction.

Days elapsed so far 4

Days remaining 17

Average Sales this month 114

Average Listings this month 229

Projected sell/list 49.5%

SALES

Projected month end total 2384 +/- 440

95% Conf Interval lower bound 1943

95% Conf Interval upper bound 2824

NEW LISTINGS

Projected month end total 4814 +/- 969

95% Conf Interval lower bound 3846

95% Conf Interval upper bound 5783

MONTHS OF INVENTORY

Inventory as of September 30th 15401

MoI at this sales pace 6.46

Note: This is a simple linear projection of month end totals.

This provides the answer to the question

"What will month end totals be, if things continue

on the same pace we've seen so far this month?"

Bilbo Bloggins
Bilbo Bloggins
9 years ago

@Anonymous:

Yes Florida sucks a$$.

Only losers like Will Smith and Tiger Woods want to live there.

No More Gordocracies
No More Gordocracies
9 years ago

"The financial friction is reaching a higher level each month. On Tuesday, the Bank of Japan announced a cut to 0% interest rate, this being done a full 20 years after their financial crisis stuck them with the dead-end 0% interest rate. The advantage of a trade surplus helped Japan for two decades. That surplus has disappeared, handed over to their Asian rival China. The two nations are in hot disputes in the last month. The ramping Competing Currency War is better described as a race to the bottom, in which only GOLD & SILVER win. Anyone wondering why an inert metal would prevail over investment in a financial structure or debt parade is simply obtuse and of dull mind. Gold represents money in a land where money has been systematically debased. Money today is nothing more than debt in… Read more »

Anonymous
Anonymous
9 years ago

@NO – LYMPICS:

Richmond is a city full of wealthy Chinese,so there ain't a dime of haircut for those cheap white bears;go to Yukon and find a hut in the mountain which is absolutely free.

Anonymous
Anonymous
9 years ago

@NO – LYMPICS: Liar Liar Liar,a story from the moon to drum up bearish thrill

VHB
VHB
9 years ago

October Projections for month totals

Days elapsed so far 4

Days remaining 17

Average Sales this month 114

Average Listings this month 229

Projected sell/list 49.5%

SALES

Projected month end total 1930 +/- 440

95% Conf Interval lower bound 1943

95% Conf Interval upper bound 2824

NEW LISTINGS

Projected month end total 3897 +/- 969

95% Conf Interval lower bound 3846

95% Conf Interval upper bound 5783

MONTHS OF INVENTORY

Inventory as of September 30th 15401

MoI at this sales pace 7.98

Note: This is a simple linear projection of month end totals.

This provides the answer to the question

"What will month end totals be, if things continue

on the same pace we've seen so far this month?"

NO - LYMPICS
NO - LYMPICS
9 years ago

See an OpEd in the Province suggesting sa Spring Federal Election.

I'll buy that….things are starting to stink, so either let the Opposition be stuck with it or get a stronger mandate

No More Gordocracies
No More Gordocracies
9 years ago

Some significant events are in progress, extremely important developments in the grand pathogenesis that reflects the deep decay and deterioration in the US financial structure. The most recent events pertaining to mortgage loans, home foreclosures, and disclosed fraud carry great potential to open wide cracks in the American social order.
http://www.kitco.com/ind/willie/oct062010.html

Patiently Waiting
Patiently Waiting
9 years ago

New CMHC rules have many real estate investors scrambling. Apparently there are still private lenders who will help them by risking their own money (or at least not tax-payer money) in some circumstances: In other words, it wreaks havoc on an investor's debt-service ratio, as was the case with full-time Toronto investor and consultant Cindy Wennerstrom, who is currently shopping for her eighth property but is "stuck, mortgage-wise," she says. "When banks take off 50% of the rent and apply that to your expenses, there is usually a deficit. That is subtracted from your actual income," she says. And with Ms. Wennerstrom's other properties each producing a cash flow of $800 to $1,100 per month, there still isn't enough to bring her to the desired debt-service ratio of 40%. "That means 40% of your gross monthly income has to service… Read more »

jesse
9 years ago

@Best place on meth: "I’d like to hear just ONE good reason to buy in Vancouver today"

Because many need multi-year stability for personal reasons. I just simply ask current buyers do us all a favour and admit they're overpaying. There's no shame in it.

Hovering
Hovering
9 years ago

little boxes on the hillside

little boxes made of ticky tack..

and they all look just the same.

painted turtle
painted turtle
9 years ago

@manna from heavens

Thanks for the onion article. I laughed a lot !

Peter Pan
9 years ago

@elvince: Lereah definitely drank his own koolade… He bought 6 investment condos, mostly in Florida.

Best place on meth
Best place on meth
9 years ago

@NO – LYMPICS:

Saw that report, made me sick to my stomach.

Make that 11 good reasons to rent.

NO - LYMPICS
NO - LYMPICS
9 years ago

See Global TV tonite?

Couple retirement dream a nightmare.

Bought a house in Vernon….. had it inspected.

Now, as they renovate, found it is full of mold, and poor air quality. Paid over $400,000, figure its only worth lot value…approx. $120,000. Documents show that the previous owner was infromed it was a grow opp. The same realtor sold the house the last 2 times

Recourse:

Home inspector is dead

Realtor didn't renew his license

According to the story the owner is SOL

I thought there would be errors and ommission insurance .

Cabveat Emptor

Anonymous
Anonymous
9 years ago

@61 Best Place on Meth…

Many good reasons!

Real Estate only goes up…

Wealthy asians are coming…

Why pay another person's mortgage (even though rent is MUCH cheaper than owning)…

They aren't making any more land…

Buyer's market is ending…

😉

Girlbear
Girlbear
9 years ago

I like this. $3000/month rent….from "Vancouver Budget Rentals"

http://vancouver.en.craigslist.ca/van/apa/1992990

Best place on meth
Best place on meth
9 years ago

From an American couple's perspective, 10 great reasons to rent and not buy.

http://finance.yahoo.com/family-home/article/1109

And this is in Houston where houses are fairly cheap.

I'd like to hear just ONE good reason to buy in Vancouver today.

Just one good one.

No More Gordocracies
No More Gordocracies
9 years ago

@patriotz:

Don't look to me to put Levy on a pedestal. I think hes an arrogant manipulative media fool. he's a boat without a rudder and will say anything in order to look good but now that he's come around on gold I'm not going to discourage him. Everyone with a brain knows what a shill he is but he has no effect on the gold price any more than Bob Hoye…establishment mouthpiece who is saying gold is overvalued.

As for the children here who keep voting down comments on gold….well…..run along to the bank now kiddies and check the value of your savings.

paulb.
paulb.
9 years ago

New Listings 250

Price Changes 120

Sold Listings 107

Anonymous
Anonymous
9 years ago

57

"Everything you’ve said could have been said and was said about US RE in 2005-2006."

Ummm…there was no rebound in those markets but nice try….

patriotz
9 years ago

@Watching:

Everything you've said could have been said and was said about US RE in 2005-2006.

And then what happened?

http://www.time.com/time/covers/0,16641,20050613,…