HawthorneVillager.com

Not exactly, when you lease and are in sales, it is way more beneficial for write offs.

_________________
Phase 96c, Lot 3224

I am working in Condo central -- and if the Chinese aren't buying, then why were they all standing in the lines.

It's not about foreign ownership. It's about foreign money. The article states the Chinese government doesn't just "let" them buy condos in Toronto. They "gift" the money to kids attending University in Canada or more often to friends and family who have their name on the deed. A Canadian citizen. The money though, is coming direct from China.

The "guy in vancouver" has no possible way to find out where the money came from since these units are being bought by Canadians (with Chinese money).

It's been the same story in the US so I'm not sure why we are any different. Nobody has "hard facts" because unless you ask every buyer who looks Chinese "where is the money coming from" and they give you an honest answer, you can never find out.

http://www.foxnews.com/us/2012/11/27/ch ... ng-market/

http://www.crainsnewyork.com/article/20 ... /111009913

http://www.businessweek.com/articles/20 ... ndo-market

http://wealthre.blogspot.com/2011/08/ch ... uxury.html

_________________

Looking for something to do today?
Day Trips Canada - http://www.day-trips.ca

I have one of these condos, moved in in July. (Signed the purchase agreement 18 months earlier) We have no mortgage but wanted to retain our previous line of credit. The bank was not interested in what we paid for the unit, they send over one of their people to evaluate the property. This was just 3 months after we moved in. Their conservative value was 18% more than we paid for it.

_________________

According to Dabills this is was a stupid move, Id like to see what investment he made 15% on.....

Well, what ever the rise in valve of our condo (it does make me smile) but it means nothing as this is our retirement home. I smile again, knowing our kids will benefit from it.

_________________

Even if it was for investment, He made 18%, you make no sense dabills. Ive yet to lose 15% on real estate, and everyone here as well.

You dont own property, how did you make 18% on property you dont own?
Show us the wisdom almighty Dabills.
Its funny seeing how you react when youre called out on your b.s.
Aside from this thread, which i may add you contribute nothing, you dont post anything else.
Only gains??!??? You just said you have also lost 15% just as fast, recheck your posts,
I dont think anyone on this entire board has lost 15%

So based on "your" real life experience, looks like real estate, made you money. (how shocking)

I bet, out of all your investments. Your house is the one that you walked away with the most cash (not percent) CASH, MONEY, $$$ Ching ching!

Plus, it gave you a place to live.

A house is the biggest investment your going to make in your life, and your not going to call that an investment?

Ok, so it's a home that your going to live in, and pay off. It will/can make you the most money toward your retirement, but let's not call it an investment.

Let's call it your "snow bird fund". Let's face all these snow birds would not be in Florida if they did not own a home, I think you would be hard press to find a snow bird who was a renter there entire life. A good part of those snow birds wisely decided to sell there "home" and move into a condo. That "home" quickly turned into an investment I'd say.

Anyways you don't believe in that stuff cause your too busy ready all the other bull sh*t.

No matter what if you purchase a home (investment) and live in it for 25+ years you will make money from that home. Find me a home from 25 years ago that is worth less money now. Or find me a home from 50 years ago, that was worth less money 25 years later...

With all your squirming and gibberish you still didn't answer my question Did you make more money off your home then any of your other investments

Uh... It's not an investment, it's more of a savings instrument.



There's no historical evidence to back up the claim that paying off (and later selling) a house will yield any more money than just saving money and earning a modest yearly return. It's a total wash in the end... There is no such thing as free money.

I'd put my money into a home everyday over a savings account.

_________________
Phase 96c, Lot 3224

Have you done the math on a home over the last 25 years taking into consideration all expenses related to owning that home. You may be surprised how poorly that "investment" did. I'd bet you'd do better investing in a GIC at 2.5% then investing in a home over the last 25 years.

I'll have to agree with justagirl on this one.

Really what is an investment? A process of using money to buy an asset that you think will generate a return over time -basic terms. I know there is a lot of grey area but once you sell your home for a net profit and buy a less expensive home it's purely an investment at that point. Real estate has returned money over time ahead of inflation, this is a fact.

If your game plan is to buy big, pay off and buy a one room condo in retirement, your home is your investment vehicle to achieve this. The other advantage of a home is that it forces you to 'invest' or should I say 'save'? How easy is it to call your banker and tell her to stop your contributions to your GIC for 12 months, can you try that with a mortgage?

Expenses related to having a roof over your head is a certainty, whether you own a home or rent one you cannot run away from that expense. For the renter, the difference if any you save in renting is what you have to religiously put aside in a solid investment vehicle to catch up with the home owner

Lets look at my parents home as an example. Its 30 years old. They bought it for $180k and its worth $750 today. Some of the major expenses on the home over the last 30 years: taxes, new roof x 2, several driveway repaves, new windows, finish basement, pool, renovate most of the house, landscaping. I'd say that comes out to more then $350k. So the net gain is 220K.

Assume you rent for 30 years at an average of $1000 per month and invest your $180k in a GIC. The average rate of return on a GIC over the last 30 years was just over 7%. 7% on 180K over 30 years is just over $1.25M. Take out your rent costs of $360k and you have around $900K.

First your numbers maybe way off.

My in laws purchased their home for $225,000. 18 years ago, and now houses on their street are selling $850 - $900. They put in a new kitchen, floors, interlocked the driveway and patio, new windows and garage doors. Kitchen and floors $50, interlock $20, windows $15 total $85,000.

Not sure where you parents live. But, I see larger profits over a shorter time frame where my in laws live in Streetsville.

Plus you are assuming, these stocks "made money". You say GIC now cause you can see now that they made "some money". But back then, what would you really have put you money in? Who knows... I know the house makes money, that's a fact. It a sure thing, it always makes money.

Here's two scenario's:

A) Lets say you have $40,000 to invest, and your a normal person working hard, renting. Will you invest this all in stocks? What stock would you invest it in? Do you study stocks enough to really know whats going on. (not many people do) Or will you trust Dick, the man who works at the stock market. Do you also feel comfortable paying into this unknown stock monthly? How much will you put in, considering you also have to pay rent.

B) Lets say you have $40,000 you purchase a modest new home for $400. You plan on moving your family into the home and fixing it to your liking. (very simple)

Let's say the stock market crashes, just like it did a few years ago.

Do you think the option A made money? Maybe? Maybe not? In real life if you had 40,000+ in the stock market would have you sold part of it? Or would you have "stopped" the monthly payments in those stocks? Do you feel comfortable with this situation, if you actually had $40,000 dollars in that crashed market.

Let's take the option B, I know the house made money, that's a fact. Yes maybe you put a fence up, and a deck. This is for your own luxury. Your rented house may have never had these luxuries. But in the end most people are comfortable with the home investment. Not to many people are going to lay down $40,000 plus monthly payments for Dick to invest for them.

I am referring to the "real world", not the world in the "finance magazine" if you pick the right stock. Most people do not work in the stock market. Most people specialize in other fields. The house is a basic investment that will make you money. It is a great investment.
If you work in the stock market and this is your field of expertise, then I am sure there are greater way to make money for yourself. If you live in that world.