Over the weekend we found out that a bearish poster on this site just bought a house. Not in Vancouver mind you, but still..
What went wrong? Landlord wanted to move back in. Now if it was just me I would have rented another place, but as it isn’t just me I decided to see if I could make buying work.
Had to look outside my old neighbourhood, but I found a house on a big lot, price $330,000. Taxes about $3000/year, rental value about $1750/month. Great deal? No. But one I can live with. There might be some downside on the price going forward, but what matters to me is value, i.e. ownership costs versus rent, not expectation of price changes going forward.
And in that same thread we found out that a bullish poster sold his house and is now renting.
In all sincerity, when a voracious bear purchases, it may signal a top. Market trends often reverse at points like this.
To let you guys in on a secret, yours truly is no longer a home owner. I rent. I do have other real estate interests though.
So are these signals of a market top or what?