| ehos |
And sell/don't buy when they're going down?
I'm referring to the craze of 05/06. Prices were increasing everyday, and people were buying like mad. They 'peaked' around the summer of 06, and people would come on this forum and post their house they just bought.
Just wondering why? House prices are down huge now, inventory is huge, it's a buyers dream, but I don't hear one peep out of ANYONE about buying. In fact, everyone seems tense when you talk houses.
Back in 06, EVERYONE + their dog was a wannabee realtor. People would randomly spout off house values and blah blah blah. Where are those people now?
Other people were panicking that 'ohmigod I'll never afford a house ever', again, where are those people? |
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| DoubleDown |
Well it really depends when you bought. There's nothing wrong with buying when the prices are going up, I think you're just referring to the people who waited forever to make a decision and then ended up buying way too late in the boom... they got screwed.
The people who bought in '05, when the prices were already up 50% from the year before, are probably still wayyy in the profits even if they sold in this low period. |
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| Inzane |
quote:
Originally posted by ehos
I'm referring to the craze of 05/06. Prices were increasing everyday, and people were buying like mad. They 'peaked' around the summer of 06,
Actually the peak was in spring of 2007. (somewhere between Feb and May). |
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| Bluestreak |
Yeah, those who got screwed were the ones that bought right at the peak last year.
That being said, I'm glad I didn't buy at that time. I think I even posted on here last year saying I was worried and that I wanted to get in ASAP, but now looking back at it, I'm glad I waited. |
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| AudiInProgress |
| Because people need a place to live. |
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| XtraX |
quote:
Originally posted by AudiInProgress
Because people need a place to live.
X2 it's like asking why people buy gas when it's expensive. You need it. |
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| Jord@n |
| It is a buyers market, but it's still ridiculously high compared to where it was and the housing market in general. |
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| dc2696 |
quote:
Originally posted by AudiInProgress
Because people need a place to live.
As a recent home buyer, word. |
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| Graphicdude |
| OR those people know they got screwed and don't want to share their remorse publicly :D I'm hoping to take advantage of this lull in the fall. Shouldn't be hard to sell the condo. |
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| Blackout-spec |
im looking for a house and have been for a month and a half.
i still cant believe some ppl are trying to sell some shit holes for 350K+. i have been watching and within the past month and a bit, houses have dropped about 25K. im just sitting waiting to see how much more they drop before i buy in.
i have found only 3 places that i like in my price range, and im still not going to jump on them. i know that they will come down more and im going to play that chip. also, as a lot of ppl have told me, lowball. pretty much any house i look at, i will be offering way less then list if it has been on the market for over a month, even if i think it is fairly priced! |
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| RangerMan |
| My realtor bought a 1020sqft brand new condo (pallisades 127street 148ave) for $329K in 06, shes going to have to keep for at least two years to get her investment back, I bought the 05 model of that same exact condo for $264K in feb..... |
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| Graphicdude |
quote:
Originally posted by RangerMan
My realtor bought a 1020sqft brand new condo (pallisades 127street 148ave) for $329K in 06, shes going to have to keep for at least two years to get her investment back, I bought the 05 model of that same exact condo for $264K in feb.....
1020 for 329K ????Holy shit she got fucked. Mine is 1150 sq ft wit h 2 underground stalls 3 bedroom 2 bath and we got it for 279K winter of 06 |
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| little_one_der |
I was one of those "omigod I will never afford a house ever again." And since then I've been saving money here and there, concentrating on school, etc. Now we (me and SO) have 40 grand saved up and I have one year of school left, then we are moving to N.S. With that much money, we have over 25% down of an average house, and money left over for the just in case shit.
So, aside from winning a house, Alberta can gtfo. :D |
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| ehos |
quote:
Originally posted by little_one_der
I was one of those "omigod I will never afford a house ever again." And since then I've been saving money here and there, concentrating on school, etc. Now we (me and SO) have 40 grand saved up and I have one year of school left, then we are moving to N.S. With that much money, we have over 25% down of an average house, and money left over for the just in case shit.
So, aside from winning a house, Alberta can gtfo. :D
The money will keep you here :) |
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| little_one_der |
Nope. I don't make enough money to have anything left after bills, etc. It's too expensive here.
The only reason we have that money is some is inheritance, some was just dumb luck, some was selling things we had owned for a while, and I sold off some stocks I bought about four and a half years ago.
At the end of the year I got nothing to show for it.:blink:
Edit: And, machining for the oil & gas industry in Alberta is unpleasant. There's high and low times. A couple days last year I was sent home, even for days at a time, because there were zero orders coming in for wireline tools, etc. Over there, the industry is more stable. Aerospace, marine, military, there's lots to do. And to top it off, I've introduced myself with enough people that I have jobs waiting for me when I move.
And I don't agree with Alberta politics and why everyone is fucking PC. |
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| ehos |
quote:
Originally posted by little_one_der
And I don't agree with Alberta politics and why everyone is fucking PC.
I'm sure you know this but..
Albertans hold a grudge and we're rednecks/low brow people. We're still holding (RIP) Trudeau responsible or NEP and we will Neeeeever, eeeeeeever vote Liberal.
Ever. Not as long as I've been alive, and not till I pass away.
Ever.
We = #1 at holding a grudge.
If you get out, props! :) |
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| RSready |
quote:
Originally posted by little_one_der
And I don't agree with Alberta politics and why everyone is fucking PC.
By everyone, you of course mean 53% of those who cared enough to vote, right? |
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| Graphicdude |
| +1 rep, very good point :D |
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| Inzane |
quote:
Originally posted by little_one_der
And I don't agree with Alberta politics and why everyone is fucking PC.
Don't let the door hit you on the way out. :thefinger |
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| little_one_der |
/Off Topic
If you don't care enough to vote against the current party in charge, then you agree with them. That makes YOU Conservative.
/Topic
I do like some of Alberta, the parks are great, a lot of southern Alberta is beautiful too. I just don't really like the attitude of most citizens. Better than you, richer than you, smarter than you, more important than you... :kitty:
Okay. When I win a house, I'll keep it. I'll still move to N.S., but I'll keep a house here too... :fingersx: |
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| Lukesky |
quote:
Location: Edmonton: The city without a slogan.
... The City of Champions? :dunno: |
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| little_one_der |
| Bah. That's from years ago, when council was debating changing the city's slogan... it's a fricken joke man. :drama: |
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| dtjohnst |
I can't believe there are people out there who AREN'T conservatives. Or to be even more broad, I can't believe in the US election it even matters who out of Clinton or Obama wins the race because McCain should be the only logical choice.
Sometimes buying when the price is going up is still better than sitting on your laurels watching them go up thinking you're the genious waiting for them to come down. People have tried that exact same game with GE, Apple, Microsoft, Toyota, Gold, and anything else that can be bought, sold and/or traded. And sometimes people buy when it's going up hoping to get in on the boom and get fucked.
If people didn't fucked, other people wouldn't get rich as fast. There has to be morons for the rest of us to profit. |
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