After interest, maintenance, and all the fun stuff of home ownership it may be a wash….or worse. Houses go down right?There are many ways to make money. Real estate is only one option, but some people on here seem to think it's the ONLY way to build equity and that if you don't buy a house you'll be destined to be a pauper forever.
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COVID and the housing market
- Thread starter mimico_polak
- Start date
Also buying a house screws up portfolio distribution. I am very overweight on real estate with no short term (or maybe even long-term) way to fix that.
D
Deleted member 50930
Guest
Sounds like me..
Rent and I took 3 vacations this year
Also yolo in random stocks
I don’t care about a house for the near future anymore
Rent and I took 3 vacations this year
Also yolo in random stocks
I don’t care about a house for the near future anymore
*shrug*
You said it. Not me.
People tend to get violent and aggressive when you criticize their investments. Look at any stock chat bulletin board.
"XYZ stock sucks! Short it!"
"I just bought 100 shares of XYZ. It has nowhere to go but up. You don't know jack YOU DIRTY MF!!"
bigpoppa
Well-known member
I need @Lightcycle to manage my money, otherwise the only person getting rich is ducati north america
You could play @Mad Mike s game. Buy an investment and set a threshold where you get a new bike. In estinf and a new bike (or sometimes you lose somenmon3y and dont get a new bike). In mm's case, I think he is holding HOG and 2ill turn stock into a bike when it hits his number.
Put 5000 into each bike company. When the investment is worth enough to get a bike, convert. Kind of fun and tou sont know whether you will get a yamaha or ducati next.
Please be big thumbed with bad autocorrect, and not texting and driving. <crosses fingers>
If I managed your money, then it would be BMW Motorrad Canada getting rich...
Speaking of which, how goes the hunt for that K1300GT?
Big thumb autocorrect. Also annoyed at cleaning it up today so I left it as it was typed. It was typed on a phone.
bigpoppa
Well-known member
Why you gotta do me like this
what's crazy is, BMW put heated grips/seats/cruise control on bikes in 2005
Some manufacturers cant even do it in 2021
If you put $50,000 into HOG right now, you might have enough money to buy a Sportster by this time next year...
Fixed it for some
True, you could sell 10% of XYZ corp stocks when needed or there's an opportunity. Try selling 10% of your house. OK, reverse mortgage or LOC but they suck.
There are lots of advantages to renting. If the neighbourhood goes ghetto you move instead of selling. An owner takes a hit in price if the neighbourhood prices drop. Then the sale costs come off that number.
A lot depends on attitude. Some people can't accept a rental world. They also know an owner's worth by knowing the person's address. With a house the value is on your sleeve. With stocks it's a public as you want or don't want.
Stocks require thinking on a regular basis. I can't be bothered watching my Nortel stocks. They'll be there when I need them. The house is a once in a while decision.
I also think there is a burnt in mindset with Joe Public that a person only rents if they can't afford to buy.
I don't know if the new capital gains rules (2016) make some things harder. You used to be able to rent an apartment and buy a cottage as your prime residence. The rules may call for you to live in the stated building.
Admittedly not the best source. Gives sufficient information to allow further digging.
TL: DR 25 years ago, cdn govt prepared reports showing high percentage of mansions were bought by foreign buyers, many with very little income. Reports were suppressed as they didnt fit with the political image government wanted to present.
TL: DR 25 years ago, cdn govt prepared reports showing high percentage of mansions were bought by foreign buyers, many with very little income. Reports were suppressed as they didnt fit with the political image government wanted to present.
Canada Hid A Foreign Capital & Housing Study While Dismissing Intelligence Warnings - Better Dwelling
Canadian tax authorities confirmed they knew about illicit foreign capital inflating real estate. They first found out over two decades ago, but only confirmed it to the South China Morning Post (SCMP) this week. A whistleblowing, retired auditor first told SCMP journalist Ian Young about the...
betterdwelling.com
Their cut of the foreign cash possibly exceeded their legitimate revenue. It's every politicians dream to have double the money to waste.
Another common mindset is that when renting, you are just paying someone else's mortgage. Owning, at least your money is paying off your own home (eventually or almost never with these prices).
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