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Old 02-11-2009, 10:22 AM   #16
TNation
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Eric, I'd just wait until you have 30-60k downpayment even, that way you can get a nice condo in the 160k range, and you can pay that off, sometimes slum housing can depreciate quickly. And I'd buy in a few years.
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Old 02-11-2009, 11:33 AM   #17
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Eric, I'd just wait until you have 30-60k downpayment even, that way you can get a nice condo in the 160k range, and you can pay that off, sometimes slum housing can depreciate quickly. And I'd buy in a few years.
exactly,what idiot would buy a slum condo in a bad neighborhood and expect to make money on it?.You buy a slum $100,000 condo,the maintenance charges be more than the mortgage payments,the "renters" you be getting arent going to the Abercrombie crowd so expect to learn about "evictions 101".Expect to put $40-50 on a decent pre construction condo or one thats almost finish.Right now I've went to about 8 projects either almost complete or in the pre construction phase for the last few weeks..for a small unit ( less than 600sqft) on the lower floors in a decent area expect to pay at least $235,000,put at least %15 down or if able %20.The condo bubble hasnt burst as some of the naysayers are saying,good condos are holding its value and dont expect to see any 1 bedroom new condos selling for less than $200,000 in the core.
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Old 02-11-2009, 12:17 PM   #18
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hahaha. what smell? I never noticed it? I'm looking south of king, with a view of the lake. On western battery rd.

God, i hope there's no smell, i couldn't live with that shite.

Consider yourself lucky! If you smell it once though and know what you're looking for, it will forever annoy you, if not totally gross you out.

I used to work at King/Strachan just 200 meters from the slaughterhouse and everyone hated the smell, even the smokers who have no sense of smell.
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Old 02-11-2009, 01:06 PM   #19
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The condo bubble hasnt burst as some of the naysayers are saying,good condos are holding its value and dont expect to see any 1 bedroom new condos selling for less than $200,000 in the core.
Your head is in the sand, it is not logical to expect the value of RE to continue to increase to infinity.

You can easily get a 1 bd for under 200K at one of the cityplace towers.... but wait until they finish the social housing development next door and you'll pick one up for sub 150K

RE is due for a correction. But don't take my word for it:

http://www.theglobeandmail.com/servl...ealEstate/home

http://www.yourhome.ca/homes/article/554394

http://www.torontorealestateboard.co...pdf/mw0901.pdf
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Old 02-11-2009, 01:12 PM   #20
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If you need a mortgage, I have the guy for you, he will beat any rate.
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Old 02-11-2009, 02:06 PM   #21
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Your head is in the sand, it is not logical to expect the value of RE to continue to increase to infinity.

You can easily get a 1 bd for under 200K at one of the cityplace towers.... but wait until they finish the social housing development next door and you'll pick one up for sub 150K

RE is due for a correction. But don't take my word for it:

http://www.theglobeandmail.com/servl...ealEstate/home

http://www.yourhome.ca/homes/article/554394

http://www.torontorealestateboard.co...pdf/mw0901.pdf

Oh no.... market melt down.... oh no.....

Read your articles again. It's nothing new.
A 5% reduction is price was predicted, and it occurred.
However, gone are the days of the bidding wars.

Townhomes in the downtown core were listing for $600K and selling for $700K. I bet those buyers are kicking themselves now.

I would never pay more than asking price, ever!

End of this summer might be a good time to buy. There will most likely be another 5% reduction is prices.

The big homes/high valued ($700k+) will take a big hit, not because they are over valued, but because people can’t get financing or a leary of committing to so much.

Also, if you’re buying an $800K home, you better be putting more than half down in cash. No one needs an $800K home.
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Old 02-11-2009, 03:19 PM   #22
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Oh no.... market melt down.... oh no.....

Read your articles again. It's nothing new.
Never said it was, although it seems to be news to daytona.

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End of this summer might be a good time to buy. There will most likely be another 5% reduction is prices.
End of next summer might be a better time. Many are predicting another 20% drop this year alone. With the state of the economy, it's not hard to see that happening.

It's pointless to try & time the market, but every day more bad news about layoffs can't help what people get for their property. Interest rates can't go lower, and many people will be screwed once they start going up again.
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Old 02-11-2009, 08:10 PM   #23
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Never said it was, although it seems to be news to daytona.



End of next summer might be a better time. Many are predicting another 20% drop this year alone. With the state of the economy, it's not hard to see that happening.

It's pointless to try & time the market, but every day more bad news about layoffs can't help what people get for their property. Interest rates can't go lower, and many people will be screwed once they start going up again.
Who's they? 20% reduction this year?????
You tend to over exaggerate everything, and draw crazy conclusions.

General housing won't see anything like that. 5% is the projected.

High end houses will most likely see more than that, as buyers cannot be found in this economy.
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Old 02-11-2009, 09:06 PM   #24
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MLS listing average price is about 10% lower in jan 09 compared to Jan 08.

Check out: http://www.torontorealestateboard.co...pdf/mw0901.pdf

but look at the last few years, the price has gone up quite alot, your equity in the house is still good ...

If your job is secure and have the down payment, and you buy to LIVE in,
this is a good time to start looking at the location you so desire to in.

Condition is not great out there.. eventually it will come back up again...

buy oil stock... and hold .. its cheap at today's price....
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Old 02-11-2009, 10:18 PM   #25
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interesting thread on investing in stocks.

http://forums.beyond.ca/showthread.p...pagenumber=513
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Old 02-11-2009, 10:32 PM   #26
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interesting thread on investing in stocks.

http://forums.beyond.ca/showthread.p...pagenumber=513
dont touch Hou . Hou is not a stock you buy and hold with today's pricing of oil unless you are very rich
to hold for a long time

Hou went from $242.55 to $5.76 (closing price today).

Last edited by damameke; 02-11-2009 at 11:00 PM.
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Old 02-11-2009, 11:07 PM   #27
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dont touch Hou . Hou is not a stock you buy and hold with today's pricing of oil unless you are very rich
to hold for a long time

Hou went from $242.55 to $5.76 (closing price today).
HOD went from $32 to $35, and I think it closed at $35.10 today. Good stock to watch, I'm considering buying a couple thousand shares in it.
aka, with Dad. haha.

Last edited by TNation; 02-11-2009 at 11:13 PM.
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Old 02-12-2009, 05:48 PM   #28
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HOD went from $32 to $35, and I think it closed at $35.10 today. Good stock to watch, I'm considering buying a couple thousand shares in it.
aka, with Dad. haha.
Good play with HOD, you know the D stand for down.. right?
So you are basically betting that oil goes down.. then HOD share rice goes up
to $35.10

HOU is the reverse, thats why it went down so much from its high.. again U is for Up.. but oil is going down therefore stock price is in the slum,...

If you want to buy a few thousand shares, play HOU (cheap share price) and hold it for long.. oil wil eventually go up..

I think we had hijacked the thread..

sorry EOM
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Old 02-12-2009, 10:04 PM   #29
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Good play with HOD, you know the D stand for down.. right?
So you are basically betting that oil goes down.. then HOD share rice goes up
to $35.10

HOU is the reverse, thats why it went down so much from its high.. again U is for Up.. but oil is going down therefore stock price is in the slum,...

If you want to buy a few thousand shares, play HOU (cheap share price) and hold it for long.. oil wil eventually go up..

I think we had hijacked the thread..

sorry EOM
well i was sort of kidding, because i'm a student and all, but i know what you're saying. A friend of mine just made 6k with HOD cause he bought it at 32 and sold at 35.65 (last week). HOU really has gone down a lot hey, if you can buy it when its low now, it will be worth something in the future when oil is up.

Last edited by TNation; 02-12-2009 at 10:11 PM.
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