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Author Topic: Off topic - Housing trend research  (Read 170 times)
john77
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« on: February 05, 2008, 10:31:05 PM »

Punter, you mentioned that Canadian housing seems to lag US trends by 6-8 months. RBC capital markets stated recently that affordability is at an all-time low, when prices are compared to median income, and CMHC has stated that housing starts are to decline next month.

Is there any source of reliable CHARTS that allow me to look at price trends in urban centers such as Richmond or Vancouver? I am sitting on a small gain in assessed value in my primary residence. I sure as hell would like to lock in some gains (trying to learn from uranium mistakes). Of course, I would have to find a nice rental or downsize to a nice condo.'

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punter
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« Reply #1 on: February 06, 2008, 03:15:38 AM »

  I found this, I don't know if it's what you wanted. www.canadian-housing-price-charts.23.ca . I could not seem to get the chart onto this page, grrrrrrrrrrrrrrrrrrrrrr!!!!

Because real estate is not a fungible asset you have to have sold before the market completly rolls over. I did sell at the peak of the last top and go away to a tropical island. If you can it's a nice thing to do. Renting is also gambling. The last time real estate hit the wall here prices didn't fall so much as they only stagnated for almost a decade. 

As far as afforability is concerned , the new stats have homeowners paying 75% of their gross income on housing. But with intrest rates going down the margins for sellers just go up because the sales prices are based on the ability to pay. All through this real estate cycle it has been low intrest rates that have driven the affordable middle range price sector higher. In percentage terms the higher end properties have not followed at the same rate of appreciation. In my area for example properties similar to mine are up $ 50K in the past few months. My house earns more than I do!!!!!!!!!!!!!

In conclusion, buying a condo isn't going to work because they are appreciating, you're only trading your place for another, possibly inferior unit . Rent is an option . Doing what I did and moving the family to the tropics for a year is still something my freinds talk about and perpetually envy. Treat yourself right however you decide. Hope my rambling is of some use to you.
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