Quote:
Originally posted by san-hugo
All in all, when shit will hit the fan my dear , all sitting underneath will be drenched... oh dea' ! All means all, all dumbo dopes as well as smarties !! .
Quote:
Originally posted by ashedfc
but its not the time to sell an existing house & buy a even bigger house by increasing the size of the mortgage....
Newly constructed houses (3K SQFT) have appreciated by 100,000 since last year. With the frozen interest in the offing, it is going to go further.
The worst would be when the home owner walks into the bank and start tapping the equity next year based on the appreciated value...
Its really hard to stay un-influenced but the tough always have a story to tell the lost.
Quote:
Originally posted by ashedfc
If you have spare money & urgently need a house: by all means "Go ahead & Buy One"..... but its not the time to sell an existing house & buy a even bigger house by increasing the size of the mortgage....
-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Quote:
Originally posted by ashedfc
Quote:
Originally posted by san-hugo
All in all, when shit will hit the fan my dear , all sitting underneath will be drenched... oh dea' ! All means all, all dumbo dopes as well as smarties !! .
Start preparing because "SHTF" Shit is about to hit the fan..... Its not the time to be ignorant (we are not in 2009, or 2010; rather we are heading into an inflationary depression as we head into 2012 & beyond).. Inflation will be very high, with lack of jobs. Here is something on China (& keep in mind; once China slows its the end of the global recovery). http://www.telegraph.co.uk/finance/china-business/8766230/China-risks-hard-landing-as-global-woes-spread.html
So its not the time to speculate on housing (buying for need of a roof over the head is lot different than speculating in the housing market with negligible down-payment, which is also a very non-liquid market)..
I am not against buying houses; rather I am in favor of building an emergency cushion for every family, so they are prepared when SHTF...
If you have spare money & urgently need a house: by all means "Go ahead & Buy One"..... but its not the time to sell an existing house & buy a even bigger house by increasing the size of the mortgage....
Quote:
Originally posted by san-hugo
Though, It remains to be seen how smelly it is going to be this time?, how fast is it coming ? how long the chinaman will hold ?
-----------------------------------------------------------------
i..........rock........!!!!!
Quote:
Originally posted by febpreet
Quote:
Originally posted by ashedfc
but its not the time to sell an existing house & buy a even bigger house by increasing the size of the mortgage....
I agree. It's better to have $3,00,000 left in the mortgage than to further add another $2,50,000 in order to buy a bigger house. The end result? One will end up paying more for mortgage, heat, utilities, hydro, property taxes, etc. In these trying and recessionary times, one has to take control of their financial situation by not adding up the piles of debt. Everyone is aware of what's happening South of the border (with no end in sight), so better learn from that as we are living in interesting times.
You don't need to commit a mistake to learn from it; rather learn from others' mistakes.
Lot happening in economy world for sure, Our interest remain in Canadian market and housing demand in GTA which is yet to recede.
?Will there be impact of Greek glitch on rest of the world (and Canada) , Yes !
?Will the world and Canada come to stand still
No !
?Should we still buy house instead of renting
Sure we should, the interest rates are all time low and should remain that way for times to come ...just foresee well that your earning capacity will sustain all economic weather !
I do not see housing demand going down in Toronto and thus the idea of house price coming down is far fetched one though it may have peaked and will stay at a price for long time before starting to move up again based on location.
We desis are known for that act - bhago! aasman girr raha hai !!
Aasman nahi girega, barish jaroor hogi..so prepare for rainy day without killing your desires of today.
Advertise Contact Us Privacy Policy and Terms of Usage FAQ Canadian Desi © 2001 Marg eSolutions Site designed, developed and maintained by Marg eSolutions Inc. |