Printable View
I think its the bottom so I bought a place last week ,half can be rented to pay the mortgage ,all the expenses AND give some tax write-offs too
I just want to thank all our american cousins for fucking up the economy long enough so I can get back into the game
For you non-math guy, this doesn't mean that the a condo that was worth $305,000 five years ago is worth only $120,000 today. Just so we're clear on that.Quote:
Originally Posted by BucBanzai
XXXer, Prices working for you in BC? My aunt in Alberta says shit just keeps going up. So WTF is it.Quote:
Originally Posted by XXX-er
well over there in alberta its the oilQuote:
Originally Posted by liv2ski
up here things peaked in late 2007 if you remember that time period the CAN dollar went crazy which screwed the lumber market but when they announced the galore mine wasnt going ahead ,prices maybe dropped 20% and market slowed down so there was more to chose from which has allowed me to find exactly what I want which was something that produces revenue and was cheap enough so I still don't need a job
if you look at eldo's link its really JUST Vancover that is plain crazy the rest of the province isnt really all that good and the north dropped 6% but Vancover accounts for >half the market ...look at the home prices in BC tables minus Vancover and it doesnt look all that good
Maybe not not on Longboat key.Quote:
Originally Posted by RootSkier
I'll bet you can get real close to that 120k, in the surrounding area, for what sold at 300k 5yrs ago.
We've gone to Siesta Key ( south side of Sarasota) every year for the last ten years.
I watched to prices go from $100 sq ft to $300sq ft and back to $100 sq ft , if you can get it.
Same think for Phoenix.
Yeah, Vancouver is really skewing the numbers for the rest of the province.
This link is more useful.
http://creastats.crea.ca/cari/mls_stats.htm
What I like is that recreational property prices in several areas of the province are much lower than two years ago, which is no surprise with the recent recession. Some land I was looking at in the Shuswap is down almost 40 per cent. Condos at Big White have also really taken a hit since American buyers have disappeared.
I have my house up for sale here in Calgary. Prices are off about 12 per cent from the 2007 peak, but still hoping to get 2.2 times what I bought for in 2002.
I left PG in march 2007 at the top of a sellers market the house sold in <3 weeks a month later everything was for sale and shortly thereafter everything went down the tubes so I been watching, waiting & renting a bedroom for the last 5yrs
I don't have a good explanation for Vancouver RE prices liv2ski. But rec RE prices is under pressure - ski, waterfront etc.
That article on Bellingham was an eyeopener.
As for LVegas. Well that is an end of the bell curve example to pick but 20 year low is quite remarkable. So much for RE always being a winner
All you chicken little motherfuckers better hurry up and sell so you can lock in your losses.
Ice, non of us are CL, rather, I think we are much more financially savy than you. So STFU. ThanksQuote:
Originally Posted by iceman
That moran Warren Buffett isn't very savvy either. He beat earnings estimates this quarter by $1k a share and has this comment on real estate in his annual letter from yesterday:Quote:
Originally Posted by liv2ski
For 2011, Buffett says he and partner Charlie Munger expect "a general business climate better than that of 2010 but weaker than that of 2005 and 2006."
He writes that a "housing recovery will probably begin within a year or so. In any event, it is certain to occur at some point."
I tripled my investment in BRK.B on Wednesday last week prior to earnings fwiw.
4matic. With all due respect - you babble about short term trading strategies and TA and that's all very well. What relevance does Warren Buffet have to this? His ability to absorb losses is magnitudes of orders greater than any of us. Unless of course you are a gazillionaire who just happens to like electronic portfolio penis-swinging on a thread about real estate on a ski-related bulletin board in which case I apologize for thinking you're anything but a gigantic blowhard.
WB said a housing recovery is at hand. Isn't that relevant? I'm simply trying to counter Liv2ski's Zerohedge-End of the world-gloom and doom and put my money where my mouth is. Since when is Padded room ski related? Did I miss something?Quote:
Originally Posted by LeeLau
Edit: I've owned BRK.B for over a year now. I only short term trade on opportunity. I also looked at two investment properties and a profitable foreclosure pool this weekend.
You know nothing about me, slick. Here's a little: I own three houses and five vehicles, my kids' college educations are fully funded and I don't owe anybody in the world a dollar. 21 years ago I had the clothes I was wearing and the $200 I had made in tips that night before the house burned down.That was the extent of my assets. No one gave us shit, Now I'm just back from five days in Utah at our condo with a couple of friends I invited. I even know how to spell "savvy"', "Bro".Quote:
Originally Posted by liv2ski
Shove your depressing condescending nonsense up your ass, and if my luck holds you'll shove it up there so far that you'll choke on it.
In the meantime, have a pleasant day.
Popcorn popping.
I'll even skip my customary font edits.
Wow. just wow.
What does WB know about real estate, anyway? Has he made his fortune in residential R.E.? Christ, he still lives in the same house in Omaha for, like, forever.
yep, that's the thing lots of people forget. I could sell the house I bought in 2008 and even after subtracting out the $ spent on renovation/RE fees, still come out with a 5% gain today. Certainly not megabucks, but it's not a bad investment considering it's also my home. The reason people are crying and saying RE sucks as an investment is that it's not producing 10% gains annually anymore. It's like saying steak sucks because you have to eat a New York strip everynight instead of beef tenderloin.Quote:
Originally Posted by Eldo
Berkshire owns Clayton homes and a long list of housing related companies:Quote:
Originally Posted by Benny Profane
Benjamin Moore, Acme Brick, Johns Manville, Several home furnishing, and other building materials companies:
http://www.berkshirehathaway.com/subs/sublinks.html
Quote:
Originally Posted by iceman
Roo-rooo, the interwebz tough guys have spoken.
You also don't know shit about me, but I like it that way.
There are about three guys on here I would take financial advice from and your not one of them.
That said, lets make a little bet. The Case Shiller Composite 20 Index was at 142.42 in December 2010.
I will paypal you $100 in 2012 if the December 2011 number is higher, you can send me the $100 if it is lower.
Deal?
Edit: and for the Canadian mags, my RE comments are only directed to the US market. I am stoked you guys are not suffering from the same bad policies and decisions that happened down here.
It is hard to argue against the Oracle, as I am sure BB has privately told him, Llyod and all his other buddies, that QE3 to infinity will be directed at propping up the US RE market and every other asset they hold. With no further insanity from the Fed, I hear a rather large balloon pop on a number of assets. But Ben will not let the happen. I mean he is a scholar on the Great Depression and has his legacy to pump.Quote:
Originally Posted by 4matic
Speaking of Dick Nixon. Is it just my lousy memory, or did Nixon actually appear on Laugh In once?
Sock it to me?
iceman for president.
If you're that old it might be the memory. I should know..Quote:
Originally Posted by Eldo