Make a Contribution to Remove NSFW Ads

So when’s the housing bubble bursting?

TX4lyfe said:
housing bubble may pop after the job bubble pop, but by then no one will have jobs to buy and the rich still wins when they snatch them bitches up on the cheap
Click to expand...

Right, the foreclosures will not happen at all like it didn’t in the last crash. There is a new paradigm to follow and investors will benefit greatly.

But that can be combated if legislators put things in place to deter investors from sitting on properties that aren’t being used.
 
4 Dimensional said:
Right, the foreclosures will not happen at all like it didn’t in the last crash. There is a new paradigm to follow and investors will benefit greatly.

But that can be combated if legislators put things in place to deter investors from sitting on properties that aren’t being used.
Click to expand...

Legislators will write laws to benefit these Wall Street Investors so that they don’t take a loss.

Or they will get a stimulus bail-out just for them.
 
Amajorfucup said:
I thought DC was bad. Canada not bullshitting. :lol:
Click to expand...


Yeah man - the prices are pretty alarming. I can see why people move to smaller towns and provinces to afford quite a bit more. The thought is quite appealing 15 - 20 years from now.

For example, my brother bought a mid-1970s home for approx’ 400k in 2017 near Alberta - it is worth 625 - 650k now without any upgrades. By comparison locally people can fetch 500 - 600k on nice, not great, 1br condos.
 
Helico-pterFunk said:
bc.ctvnews.ca

Here's how much you'd need to earn per year to buy an average home in Vancouver

A just-published report suggests those hoping to buy an average home in Vancouver need to earn hundreds of thousands of dollars a year.
bc.ctvnews.ca bc.ctvnews.ca
Click to expand...
Dr. Truth said:
They don’t factor in other bills and expenses it seems, to be sort of comfortable you need more than what they suggesting. Unless you have no cars or other bills
Click to expand...

Here in America you gotta factor in school loans which is keeping a large segment of young America from buying their first home.

Young people in their 30s are still stuck at home with their parents cuz majority of their income is paying school loans which they probably won’t get paid off until after the age of 70.
 
4 Dimensional said:
Right, the foreclosures will not happen at all like it didn’t in the last crash. There is a new paradigm to follow and investors will benefit greatly.

But that can be combated if legislators put things in place to deter investors from sitting on properties that aren’t being used.
Click to expand...



Here's what they have in place locally.


3% tax can add up - especially for the overpriced properties sitting vacant assessed in the multi-millions ...



vancouver.ca

Empty Homes Tax

Get information about the Empty Homes Tax (Vacancy Tax), how to declare your property, exemptions, and penalties.
vancouver.ca vancouver.ca


vancouver.ca

Vacancy Tax (Empty Homes Tax) By-law 11674

The Vacancy Tax (Empty Homes Tax) By-law describes how much the tax is, who it applies to, exemptions, penalties, enforcement, and more.
vancouver.ca vancouver.ca
 
OutlawR.O.C. said:
It's official, as of today I'm officially a homeowner!!

This was a long, stressful process over these last few months but I finally made it.

I have some work to do before I move in, hopefully by the end of the month.
Click to expand...



Hell yeah, man.

Big congrats and yes - the stressful process is definitely quite the experience.

Especially with property decisions being some of the biggest & most important choices you'll ever make in life.

You'll love that feeling when you're walking around in your place making it YOURS and thinking - "this is mine!" - all that hard work paid off!





:cheers: :clap: :thumbsup:
 
blackbull1970 said:
Here in America you gotta factor in school loans which is keeping a large segment of young America from buying their first home.

Young people in their 30s are still stuck at home with their parents cuz majority of their income is paying school loans which they probably won’t get paid off until after the age of 70.
Click to expand...



Agreed.

And even when school debt is low ... the cost of getting into the market is such an uphill battle.

I went to a small college, so it wasn't that costly, but things add up. I used a combination of my own money, a small scholarship, and money my folks had set aside for us as kids in a RESP (registered educational savings plan). The money I had saved on my own was from drug store job, landscaping, newspaper routes x 2, and lawnmowing gigs, lol. The lawnmowing gigs paid the best (2 - 3x what the others did).

Even then ... I was sort of aimless in college for awhile before getting focused, but once I got into the work world I went HAM in my 20s and tried to save as much as possible. Went huge on the downpayment ... and that was beyond stressful.

To look at assessed property values now ... there's just no way! Place I purchased and other comparables in the area have more than doubled over the past 13 years. And working to save for that downpayment was working MULTIPLE jobs, numerous doubles, and being frugal as fuck. I'm talking leave the house and return 17 - 18 hours later type of hustle. Regularly.
 
4 Dimensional said:
Congrats, fam! :cheers:
Click to expand...
Helico-pterFunk said:
Hell yeah, man.

Big congrats and yes - the stressful process is definitely quite the experience.

Especially with property decisions being some of the biggest & most important choices you'll ever make in life.

You'll love that feeling when you're walking around in your place making it YOURS and thinking - "this is mine!" - all that hard work paid off!





:cheers: :clap: :thumbsup:
Click to expand...

Thank you! :cheers:
 

Make a Contribution to Remove NSFW Ads
You must log in or register to reply here.
Back
Top