Author Topic: Garth Turner - Real Estate in Canada  (Read 506887 times)

wisdom

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Re: Garth Turner - Real Estate in Canada
« Reply #440 on: April 09, 2015, 05:20:32 PM »
Vancouver RE has been there for a few years. You can look at European debt for example - why would people buy an asset that guarantees them a loss.

Obviously the majority does not think about the outcomes of their actions.


50centdollars

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Re: Garth Turner - Real Estate in Canada
« Reply #441 on: April 09, 2015, 06:45:07 PM »
Almost Warren buffett like returns on this condo. Toronto is littered with crap like this. It's funny because in the investment world its illegal to post returns like this but in RE it's ok. Feel bad for people who fall for this.
« Last Edit: April 09, 2015, 06:47:19 PM by 50centdollars »
50centdollars

Matson125

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Re: Garth Turner - Real Estate in Canada
« Reply #442 on: April 10, 2015, 08:36:38 AM »

Aberhound

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Re: Garth Turner - Real Estate in Canada
« Reply #443 on: April 12, 2015, 07:48:09 PM »
There is are two trends which are new to me in Vancouver. Both probably will further drive up prices. First, the new model for Condos is for the developer to retain ownership of the land and to sell the units to buyers on 50 year leaseholds. The other trend has come from Hong Kong where landlords owning rental properties separate the land ownership from the building ownership by leasing themselves the building for long terms, then when they go to the bank for financing the only security offered is the assignment of rents and the leasehold interest. I recall the Empire State Building being split into a leasehold so what is new may be the ability to borrow on the lesser security. The structure is an attempt to get around the problem that you risk losing the entire property merely because there is a short term crash in market values.





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Jurgis

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Re: Garth Turner - Real Estate in Canada
« Reply #448 on: April 22, 2015, 10:32:32 AM »
I should buy a house in Japan...

Never mind, I think they don't sell to foreigners.

Maybe a Greek island...  8)
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cwericb

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Re: Garth Turner - Real Estate in Canada
« Reply #449 on: May 05, 2015, 11:01:04 AM »
Prices still rising..............



CBC News:

April house sales surge 17% in Toronto, 37% in Vancouver

Huge demand for homes and tight supply make for a seller's market in both cities


The Toronto Real Estate Board reported 11,303 house sales in the Greater Toronto Area in April, and a five per cent surge in new listings as buyers decided to test the market.

The average selling price rose 10 per cent year over year to $635,932, with a detached single-family home in the 416 area code region selling for an average of $1,056,114.

Residential property sales in Metro Vancouver reached 4,179, compared to the 3,050 sales in April 2014, and up 2.9 per cent from March, which also saw record sales numbers.

http://www.cbc.ca/news/business/april-house-sales-surge-17-in-toronto-37-in-vancouver-1.3061755?ref=fh,content.ighome.com
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