some good shit in here. All I know is that back in the day 10 - 20 years ago, if you made 50k you could easily afford a house. Making 50k now after all your expenses, you'd be lucky enough to afford a condo or townhouse. Housing prices have skyrocketed thats for sure

nobody made 50k 10-20 years ago.

wow.. great discussion going on here...

I've followed some of taylor192's threads and find them great reads always.

Props to hypa for making real estate work for him, but I do agree that nowadays we're doomed as new homeowners...

my fingers are crossed that real estate declines a good amount soon so we can actually afford something...

lots of good info in this thread though

line of credit vs a mortgage? thoughts?

heated discussions, up in here, UP in here.

where is Durann 1984 ?

You could wait for it to decline, which it might in the near future.
But I wouldn't count on it. I know far too many people who chose to rent over buy, and now they're at an age where they wish they had an asset. They're starting with nothing now, and are having a hard time making it work. If they had bought, even a condo a few years ago, it would have increased and at the very least they would have had equity built in. This is the point that many people miss, is equity is a huge part of the investment. Imho, if you're in a stable job, and want to live in the lower mainland, commit and buy. The equity you build while living there will allow you the freedom to start building your own portfolio. My properties are my retirement fund.

On that note, I've learned that bitching and whining online won't change the world. So change yourself. Work harder, earn more, take calculated risks, and leave the losers in your dust.

cheers.
:)

I've used both, and like the freedom of an LOC. It allows you to make payments based on your own abilities, without bank reprisal if you choose to make large, lump sum payments.

It's all dependant on your abilities though. I have a great LOC because it's secured against one of my properties. Results may vary though.




Did your crystal ball tell you this?

You're doing nothing more than arguing semantics. Who knows if I could do it now, or you could do it then. The facts are simple. I'm doing it as we speak, while you're making up asinine statements that go against space and time.
:lol

:lol:
bragging? Come on now. If you had $500g to spend, you could put it in many different places. The stock market, real estate, coke and hookers, etc. I simply choose to put it into real estate.

I'm not going to find you a Vancouver property, because I have no interest in Vancouver. The ROI is far too low compared to other areas.

I don't get your attitude that you need to buy in Vancouver. What about a home in Mission? What about an apartment in Abbotsford? The lower mainland is a huge, diverse market. Focussing on the Vancouver market is severely limiting your ability to find a property to make money on.

give me a break man.
If you don't want to have a sensible conversation, simply log off. The semantics may fool the kids on here, but I can see through it.

Again with the personal attacks? Who the fuck are you?

Wow. The bottom line is that if you can make it work for you, then good for you. I did, and good for me. If you have a specific question or claim, then spit it out. But drop the personal ambush, it's unbecoming. We're men, not little keyboard cowboys. Now act like it.

Then why the fuck are you even wasting our time in this thread? See the title? see the word VANCOUVER?

GTFO idiot.

The entire lower mainland is over-priced, to lesser degrees. Yet we're not discussing the lower mainland, we're discussing VANCOUVER.

If you want to expand the discussion to other places, lets go overseas and find some real deals.

How about you kindly fuck off.

You keep changing your argument to make your asinine point. Vancouver, stay on topic moron.

From the classless moron who insulted me and my car first:
You're a classless moron. You don't get to sit on your high horse after making comments like that.

I had a specific claim: Vancouver. You keep ignoring, and now admit why. Returns are not good in Vancouver... and well, what was my original argument? Oh ya.

GTFO.

The article never specified whether they were talking about the greater Vancouver region which includes the valley, or Vancouver proper.

cheers.
:)

FC a thread abt real estate???

looks like we got a winner

Now who's playing silly semantics?

Your comment:
If the article meant the GVA, including the entire lower mainland, then the price index is 9.3:1 even in the places you listed as potential investment opportunities. Why would I want to invest anywhere that's 9.3:1?

You've spun your argument so much you're dizzy and contradicting yourself.

sorry i have to do this:haha:

Here's a link to the media release from the Frontier Centre.
http://www.fcpp.org/publication.php/3156

Read it.
It clearly states "metropolitan areas". Last time I checked, metro Vancouver included the valley, and tri-cities.
Price Index is an average. While Vancity may be more than Langley, all numbers are combined to create a PI.

The PI is moot in this conversation.


Also, your list of flat years is incorrect.
I bought my first home in 00', and by 02' it had increased by 15% in value. I'd find info to back me up, but then I'd be attacked by you and called a moron again. It's your MO, and it's pathetic.

Your numbers may be skewed, partner.
;)

:Popcorn

is this before tax or after tax?

Who in the fuck are you people?
Do you have anything of value to add other than these little pointless replies?

It's calculated before tax.
Consider taking 30% off those numbers to get an idea of what the average family income is.

Why people pay so much to live in Vancouver -> 1080 is a must

/thread.

Perhaps you should read the article. You'll notice the list is alphabetical, and what is the first city in the list? Oh ya: Abbotsford

Just to be clear, what is the PI in Abbotsford? Where does it rank among Canadian cities? Oh ya: 6.6 and #3.

Wait, did you just say this?
You forgot a word. No worries, I added it for you.

Keep spinning, you're making me dizzy now.

Ah, the typical "stick your tail between your legs and run" comeback.

Here's a graph for Vancouver. You are correct in that you may have made 15% from 2000-2002. Yet your argument the entire time has been "hold it a long time, it always makes money. Lets say you bought in 1995 - question: by 2002 how much would you have made?

Oh ya, from 1995 to 2002 prices were flat, zero gains. Sure it fluctuated inbetween, yet if you're gong to invest on small fluctuations, then day-trade penny stocks instead.

Did you time the market in 2000? you knew that after 5 years of price declines the market was showing signs of a run? Or are you just a glorified lottery ticket winner who was lucky when you bought and is now on here bragging about how smart you were?

The rest of us see through you, yet please keep it up, I enjoy driving trucks through your swiss cheese arguments.

http://www.vancouverreflections.com/.../avggraph2.jpg

They've added more value than you have, without sticking their tails between their legs. :thumbsup:

Fuck Vancouver :D
I get reminded every time I have to return to visit exactly why I moved away.

Depends what your HELOC rates are, and what kind of timeframe you're looking at with respect to the repayment schedule.

HELOC, home equity line of credit.

almost all factors point it to be better than a mortgage if u can attain it. the only thing i can think of positive for a mortgage is if you happen to lock into a rate that is significantly lower than the rate for the heloc.

i think the heloc rate is set at prime + 1.5% right now. but the positives that i find are awesome is no true set amount for payments. the faster u pay it, the less total interest you pay. eg, say u can put away 10g a month to it, the total interest paid will be significantly less than say if u put only 5g a month away. if for some reason, you cant make such a large payment that one month, you just have to cover the minimum, which is the interest amount for that month. but if u happen to win big or have a large sum come in, you can dump it all at once without any penalties.