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PostPosted: Fri Jul 14, 2017 4:42 pm 
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They already have according to the Canadian Champion
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PostPosted: Fri Jul 14, 2017 5:02 pm 
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As predicted, they have in fact declined around that much (I've got about a half point lower), but only after increasing roughly 150% since the initial thread.


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PostPosted: Fri Jul 14, 2017 7:02 pm 
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Nobody from the original thread is even around anymore, but Kyle and Jay is exactly right. Slight "deline" over a humongous increase. I'm sure the idiots that bought into that original thread and sold their houses to go rent, are beating themselves senseless everyday.


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PostPosted: Fri Jul 14, 2017 8:54 pm 
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I didn't know what Milton Ditch Day and Milton Champignon Mushrooms are the same! :lol:
Like the Dutch, BTW, some relatives over where.


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PostPosted: Fri Jul 14, 2017 9:32 pm 
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Burrcold wrote:
Nobody from the original thread is even around anymore, but Kyle and Jay is exactly right. Slight "deline" over a humongous increase. I'm sure the idiots that bought into that original thread and sold their houses to go rent, are beating themselves senseless everyday.


Who said the deline is finished?

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PostPosted: Fri Jul 14, 2017 10:04 pm 
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Hodor wrote:
Burrcold wrote:
Nobody from the original thread is even around anymore, but Kyle and Jay is exactly right. Slight "deline" over a humongous increase. I'm sure the idiots that bought into that original thread and sold their houses to go rent, are beating themselves senseless everyday.


Who said the deline is finished?

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Not saying it is, but there is a long ways to go to just get back to the crazy increases we saw. So even if it drops 150% we are right back to where we started. Not worried.


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PostPosted: Sat Jul 15, 2017 7:35 am 
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Hodor reads Garth Turner? That chart along with the Greater Fool theory are what makes the world go around. It's opening day subject matter at Realtor U, it explains their very existence.

https://en.m.wikipedia.org/wiki/Greater_fool_theory

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The greater fool theory states that the price of an object is determined not by its intrinsic value, but rather by irrational beliefs and expectations of market participants. A price can be justified by a rational buyer under the belief that another party is willing to pay an even higher price.

I've been using our MPAC assessment value as our for-real value. In our case well below a 10-15% tumble, but an increase which still exceeds the stock market's performance. I'll start getting a worried look if our McMattamy model starts selling for what MPAC says it should. That's the bare bones of it. I'm more concerned about limiting our interest beating over time, that's something we can control at least.

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PostPosted: Sat Jul 15, 2017 12:42 pm 
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Burrcold wrote:
Hodor wrote:
Burrcold wrote:
Nobody from the original thread is even around anymore, but Kyle and Jay is exactly right. Slight "deline" over a humongous increase. I'm sure the idiots that bought into that original thread and sold their houses to go rent, are beating themselves senseless everyday.


Who said the deline is finished?

Image

Not saying it is, but there is a long ways to go to just get back to the crazy increases we saw. So even if it drops 150% we are right back to where we started. Not worried.


Yeah, Garth Turner showed that chart on one of his commentaries (Greater Fool blog). This is only the start: 16-17% decline in few weeks time. Multiply that X12 or more and you'll see where your imaginary and illusionary home equity will be.

Incidentally, I guess math wasn't one of your strong subjects at school eh? If houses were to drop 150% of their value, like you very smugly point out, you would not be where you started at all, you would end up losing your whole house and then some. Garth also pointed that out to several of his misguided readers and followers who weren't aware of that simple math equation. You might want to read his explanation as to how that actually works. 150% increase in house value is not the equivalent of 150% decline in equity.

I don't know in what year you purchased your home but I assume it was not in the last 2-3 years and that's why you're not worried. It's those unfortunate people who purchased in the last couple of years that will feel the pain most and lose out big time.


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PostPosted: Sat Jul 15, 2017 6:58 pm 
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Location: Phase 3A
I would imagine the current state of the market blame to be found with the new home builders. They are the first because they became exceedingly greedy. Example, look at what was Mattamy's deposit structure. Not only the prices between each releases were up by $40k-$50K, within the span of few weeks or months, they along with all the builders were fooling the buyers and buyers did fall into this well set trap.

Buyers realized how quickly the prices are going, they were going after no matter what was the price.

Anything that goes up like this has to come to equilibrium level, and you see the results.


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PostPosted: Sat Jul 15, 2017 6:58 pm 
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All Star you f*** you know exactly what I meant. Smug? hahaha do you read what you post? I bought (my 3rd Milton home) 2 years ago. We paid a bit over $700k and it was peaking at $1.2-1.3M a few months back. If this deline brought our value right back to $700k I wouldn't be sweating it. The same as I didn't care all that much that we saw such inflated increases over that period. Sure some people are going to be in an unfortunate situation, but that wasn't the point of my post. I was speaking from my own standpoint. Got it Ball Star?


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PostPosted: Sat Jul 15, 2017 9:34 pm 
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Burrcold wrote:
All Star you f*** you know exactly what I meant. Smug? hahaha do you read what you post? I bought (my 3rd Milton home) 2 years ago. We paid a bit over $700k and it was peaking at $1.2-1.3M a few months back. If this deline brought our value right back to $700k I wouldn't be sweating it. The same as I didn't care all that much that we saw such inflated increases over that period. Sure some people are going to be in an unfortunate situation, but that wasn't the point of my post. I was speaking from my own standpoint. Got it Ball Star?

Gee, did I hit a nerve or what? Maybe this RE crash has got you all stressed out and tense eh?
(Even though you pretend not to care or worry about it.) Does using profanity make you feel better, big boy? Do you feel more manly now? You're a piece of work buddy.


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PostPosted: Sat Jul 15, 2017 9:48 pm 
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All Star wrote:
Burrcold wrote:
All Star you f*** you know exactly what I meant. Smug? hahaha do you read what you post? I bought (my 3rd Milton home) 2 years ago. We paid a bit over $700k and it was peaking at $1.2-1.3M a few months back. If this deline brought our value right back to $700k I wouldn't be sweating it. The same as I didn't care all that much that we saw such inflated increases over that period. Sure some people are going to be in an unfortunate situation, but that wasn't the point of my post. I was speaking from my own standpoint. Got it Ball Star?

Gee, did I hit a nerve or what? Maybe this RE crash has got you all stressed out and tense eh?
(Even though you pretend not to care or worry about it.) Does using profanity make you feel better, big boy? Do you feel more manly now? You're a piece of work buddy.

Hahaha you're a joke. Back up your big boy retorts or go home.


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PostPosted: Sat Jul 15, 2017 10:36 pm 
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Be NICE....or this thread will be toast.

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PostPosted: Sat Jul 15, 2017 10:55 pm 
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Another Rad Brothers thread throw down in the works. My money is on Barley Man.


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PostPosted: Sun Jul 16, 2017 6:19 am 
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Garth Turner. :D :roll: Advice. :lol:

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Last edited by Halton Home Inspector on Sun Jul 16, 2017 1:08 pm, edited 1 time in total.

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