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PostPosted: Thu Jan 19, 2017 10:43 pm 
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Nope.

Back in 2011 a real estate agent had suggested we list the lot for $440K and if the market didn't like that
the real estate agent suggested lowering the asking price to $340K

In the end a real estate agent suggested listing it for $650K in 2013 and by 2015 the real estate agent was suggesting it
was worth $700k

It the end the lot went for $550K

Shows of what use real estate agents are!


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PostPosted: Thu Jan 19, 2017 10:57 pm 
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Milton Dutch Day wrote:
Nope.

Back in 2011 a real estate agent had suggested we list the lot for $440K and if the market didn't like that
the real estate agent suggested lowering the asking price to $340K

In the end a real estate agent suggested listing it for $650K in 2013 and by 2015 the real estate agent was suggesting it
was worth $700k

It the end the lot went for $550K

Shows of what use real estate agents are!

You had a shitty representative.


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PostPosted: Sat Jan 28, 2017 2:49 pm 
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I read this on another blog that I frequent. An interesting analogy and summary of the insane RE market today:

"Here is an analogy– 18 wheeler semi screaming down a one way highway on a road that eventually ends and well….falls off a cliff., The authorities try to warn the driver via CB radio , but he speeds up even more, they hastily install speed bumps, to no avail, truck keeps on moving, they throw down a few loads of gravel but nope, that badboy keeps on truckin. they deploy the spike strips, they slow it down but it still moving. Authorities are running out of time- the semi is almost at the point of no return by now so they shoot out the tires—– the truck is slowing but still moving towards the cliff…….. will it stop or is the momentum too great?
The top dogs at the Ministry of Finance, banks, and BofC, are scared shitless of the current conditions, they keep trying to cool things down to prevent an all out catastrophic crash but no one listens."

So true, unfortunately. BTW, those in the know are predicting a decline in prices of anywhere from 35%-50% later this year and continuing into 2018. A word to the wise.


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PostPosted: Sat Jan 28, 2017 3:12 pm 
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The most often heard response to that from the Real Estate Industry is always something like "that is just the way the free market works, that the consumer is in control, they know what they want and they know when to stop." This, I believe, is a load of old horse crap.

More allegory: it's like they are waving crack under a crackhead's nose, and they don't have the slightest qualm about letting them have it. Sold. Next one: sold. Make more crack. Pre-sold in record time at record prices. Make them drive an hour and fight off rats for crack: sold. Etc.

_________________
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Temporary towers soar
Till there are no stars shining up in heaven
Till there are no stars any more


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PostPosted: Sat Jan 28, 2017 3:40 pm 
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All Star wrote:
I read this on another blog that I frequent. An interesting analogy and summary of the insane RE market today:

"Here is an analogy– 18 wheeler semi screaming down a one way highway on a road that eventually ends and well….falls off a cliff., The authorities try to warn the driver via CB radio , but he speeds up even more, they hastily install speed bumps, to no avail, truck keeps on moving, they throw down a few loads of gravel but nope, that badboy keeps on truckin. they deploy the spike strips, they slow it down but it still moving. Authorities are running out of time- the semi is almost at the point of no return by now so they shoot out the tires—– the truck is slowing but still moving towards the cliff…….. will it stop or is the momentum too great?
The top dogs at the Ministry of Finance, banks, and BofC, are scared shitless of the current conditions, they keep trying to cool things down to prevent an all out catastrophic crash but no one listens."

So true, unfortunately. BTW, those in the know are predicting a decline in prices of anywhere from 35%-50% later this year and continuing into 2018. A word to the wise.

And they'll go up 35-50% before this big decline. LMAO. Will B. was "in the know" and look where we are today. I could see a 10-20% correction at some point but it means nothing as long as prices are going up exponentially quicker.


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PostPosted: Sat Jan 28, 2017 5:03 pm 
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All Star wrote:
I read this on another blog that I frequent. An interesting analogy and summary of the insane RE market today:

"Here is an analogy– 18 wheeler semi screaming down a one way highway on a road that eventually ends and well….falls off a cliff., The authorities try to warn the driver via CB radio , but he speeds up even more, they hastily install speed bumps, to no avail, truck keeps on moving, they throw down a few loads of gravel but nope, that badboy keeps on truckin. they deploy the spike strips, they slow it down but it still moving. Authorities are running out of time- the semi is almost at the point of no return by now so they shoot out the tires—– the truck is slowing but still moving towards the cliff…….. will it stop or is the momentum too great?
The top dogs at the Ministry of Finance, banks, and BofC, are scared shitless of the current conditions, they keep trying to cool things down to prevent an all out catastrophic crash but no one listens."

So true, unfortunately. BTW, those in the know are predicting a decline in prices of anywhere from 35%-50% later this year and continuing into 2018. A word to the wise.

And the world is going to end in 2023!!! lol
35% to 50%!!! "Those in the know" Know that those number are crazy insane and will never happen. Can a drop happen and will a drop happen. Absolutely, but never will it happen that drastically, if the market dropped 50% people would be jumping off buildings, there would be panac and disorder everywhere. That would just cause more problems for world wide governments. Let's not forget that we are talking about Canadian Bankinng System, where you must provide T4 slip to get a mortgage. Down payments are not small amounts. People will word hard not to lose their large downpayments. We also have to remember that Canada is not only the GTA. There are a lot a places to live that the houses are not selling for 1Million Dollars. Toronto is a major City and I feel like Toronto prices do not compare to Big City prices. I think Toronto should fall just under New York City or at least LA. That is if Toronto could move their traffic, housing should be close to the same. There is lots of room for growth in the market, Toronto will climb as they should


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PostPosted: Sun Jan 29, 2017 7:03 am 
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All Star wrote:
"So true, unfortunately. BTW, those in the know are predicting a decline in prices of anywhere from 35%-50% later this year and continuing into 2018. A word to the wise.


No decline is coming...a DELINE...maybe...but no decline.


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PostPosted: Sun Jan 29, 2017 11:15 am 
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Here is a solution to avoiding such a catastrophe (personally).

Be able to withstand a 35-50% drop in house value. According to the insane price list from mattamy, my house is 'worth' $1.1m+ (this is all fairy tales, so lets not bother disputing that). Then lets cut that house value in half, so 550K. Oh, look, its still more than I paid for it. OK, we're fine.

I do worry at any time when people buy and can't do 25%. Its increasingly hard for new homeowners as a 'starter home' in milton is 650K so your ticket to ride is about $160K deposit. Yikes. And yet, the person last year that had a 100K deposit and trying to keep saving another two years to get the additional 60K and house prices just went up again by 50-100K annually and pushed their family further and further away from home ownership.

The answer? 649...

All Star wrote:
So true, unfortunately. BTW, those in the know are predicting a decline in prices of anywhere from 35%-50% later this year and continuing into 2018. A word to the wise.


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PostPosted: Sun Jan 29, 2017 2:39 pm 
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B&T402 wrote:
The most often heard response to that from the Real Estate Industry is always something like "that is just the way the free market works, that the consumer is in control, they know what they want and they know when to stop." This, I believe, is a load of old horse crap.

More allegory: it's like they are waving crack under a crackhead's nose, and they don't have the slightest qualm about letting them have it. Sold. Next one: sold. Make more crack. Pre-sold in record time at record prices. Make them drive an hour and fight off rats for crack: sold. Etc.


Yup why should the people bidding on homes have any responsibility whatsoever
They are addicted to overpaying for stuff they can not afford
Good analogy

The Real Estate industry is no different than anything else
People overpay for food, cars, electronics
That's what consumerism is


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PostPosted: Sun Jan 29, 2017 3:40 pm 
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shawnrk1 wrote:
B&T402 wrote:
The most often heard response to that from the Real Estate Industry is always something like "that is just the way the free market works, that the consumer is in control, they know what they want and they know when to stop." This, I believe, is a load of old horse crap.

More allegory: it's like they are waving crack under a crackhead's nose, and they don't have the slightest qualm about letting them have it. Sold. Next one: sold. Make more crack. Pre-sold in record time at record prices. Make them drive an hour and fight off rats for crack: sold. Etc.


Yup why should the people bidding on homes have any responsibility whatsoever
They are addicted to overpaying for stuff they can not afford
Good analogy

The Real Estate industry is no different than anything else
People overpay for food, cars, electronics
That's what consumerism is


Do you overpay for dildos?


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PostPosted: Tue Jan 31, 2017 10:46 am 
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shawnrk1 wrote:
B&T402 wrote:
The most often heard response to that from the Real Estate Industry is always something like "that is just the way the free market works, that the consumer is in control, they know what they want and they know when to stop." This, I believe, is a load of old horse crap.

More allegory: it's like they are waving crack under a crackhead's nose, and they don't have the slightest qualm about letting them have it. Sold. Next one: sold. Make more crack. Pre-sold in record time at record prices. Make them drive an hour and fight off rats for crack: sold. Etc.


Yup why should the people bidding on homes have any responsibility whatsoever
They are addicted to overpaying for stuff they can not afford
Good analogy

The Real Estate industry is no different than anything else
People overpay for food, cars, electronics
That's what consumerism is



That analogy is terrible. The reason people bidding on homes should have responsibility whatsoever is for their own financial well being. That is why. If you don't get that then you are about to learn some hard lessons about debt and life.

Overall there needs to be strong industry oversight regulating consumer debt and mortgages to ensure the proper functioning of the economy as a whole and to mitigate risk to borrowers and lenders.

You may think that reckless borrowing is okay but it has detrimental effects not only to your person but the larger economy.


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PostPosted: Tue Jan 31, 2017 1:12 pm 
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Wolverine wrote:
shawnrk1 wrote:
B&T402 wrote:
The most often heard response to that from the Real Estate Industry is always something like "that is just the way the free market works, that the consumer is in control, they know what they want and they know when to stop." This, I believe, is a load of old horse crap.

More allegory: it's like they are waving crack under a crackhead's nose, and they don't have the slightest qualm about letting them have it. Sold. Next one: sold. Make more crack. Pre-sold in record time at record prices. Make them drive an hour and fight off rats for crack: sold. Etc.


Yup why should the people bidding on homes have any responsibility whatsoever
They are addicted to overpaying for stuff they can not afford
Good analogy

The Real Estate industry is no different than anything else
People overpay for food, cars, electronics
That's what consumerism is



That analogy is terrible. The reason people bidding on homes should have responsibility whatsoever is for their own financial well being. That is why. If you don't get that then you are about to learn some hard lessons about debt and life.

Overall there needs to be strong industry oversight regulating consumer debt and mortgages to ensure the proper functioning of the economy as a whole and to mitigate risk to borrowers and lenders.

You may think that reckless borrowing is okay but it has detrimental effects not only to your person but the larger economy.


Why me worry? I have enough troubles to worry about in my own life without worrying about some individual who wishes to overspend on real estate. Let the financial community worry about whether they should make risky loans to real estate buyers. I remember people coming to Canada from Europe saying that there's no better investment than real estate because they're not making land any more so I guess that advice is still current philosophy.


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PostPosted: Tue Jan 31, 2017 1:55 pm 
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consumers don't have say as they're brain washed. it's the typical mob mentality and the media is playing right into it. how many articles have you seen or read that the price of houses is going up another x% ?

if you don't do whatever it takes to buy a hose *NOW* then next year it's going to go up another 20% and then you'll be really screwed if you're not already screwed.

saddest part of all this is the the mentality of if don't buy a house and you're renting you're stupid. this just adds to the mentality that one *MUST* buy a house *NOW* at all costs


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PostPosted: Tue Jan 31, 2017 1:56 pm 
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The housing was so expensive when I was looking into buying in 2009. I was expecting It to FALL at least 20-30% back then. Did not happen!!! Booked in 2011 in Milton and according to many friends I was crazy to book the OVERPRICED house. I was buying HOME and it was not investment property. The rest is history.

Around Sep/ Oct there are two Predictions you will always see everywhere in media. :lol: :lol: :lol:

1. House Prices are insane and should fall 10-40% in the coming year.
2. This winter will be the worst ever.....


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PostPosted: Wed Feb 01, 2017 9:39 am 
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Wolverine wrote:
The reason people bidding on homes should have responsibility whatsoever is for their own financial well being. That is why. If you don't get that then you are about to learn some hard lessons about debt and life.

Overall there needs to be strong industry oversight regulating consumer debt and mortgages to ensure the proper functioning of the economy as a whole and to mitigate risk to borrowers and lenders.


It actually works in our favour if someone is being an idiot and overspends on a house
Means we can pick up a home a little further from city for far less money

Oversight & regulation is the worst thing you could ever hope for
Like any government has ever gotten it right in the past
Let the people decide


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