By Lunatic Go To PostIt's honestly insulting.It’s a warped system and no Canadian politician wants to even remotely touch it, because the economy is propped up pretty much entirely from real estate prices. The entire economy goes to shit if our housing market faces a downturn.
Mad when you think about the fact that conventional knowledge 5-10 years ago was that our economy is pegged to natural resources like oil and gas. Naw, the real estate market is the real deal.
By Perfect Blue Go To PostIt’s a warped system and no Canadian politician wants to even remotely touch it, because the economy is propped up pretty much entirely from real estate prices. The entire economy goes to shit if our housing market faces a downturn.Exactly, and it's not we (Canada) haven't seen it happen before with the US in 2008 where we were spared because we weren't heavily leveraged in the housing market. I honestly don't know what our politicians are doing at this point. The entire world is on some next tip where it doesn't matter if you are making a profit or being fiscally responsible as long as you are the last one standing. I don't know when it ends but it's going to be epic.
Mad when you think about the fact that conventional knowledge 5-10 years ago was that our economy is pegged to natural resources like oil and gas. Naw, the real estate market is the real deal.
Imagine being one of those jammy cunts who bought a house in the 80s for like £90k and now it's worth ten times that
By Hitch Go To PostImagine being one of those jammy cunts who bought a house in the 80s for like £90k and now it's worth ten times thatlol my father's house is exactly that... but in the mid 70s and try 45 times the value.
My parents had it but my dad fucked up and they had to quickly sell it and rent it back in a downturn just to get close to erasing their debts. Similar houses on that street were going for £900k a couple of years after.
Next door neighbours sold theirs for over a million just after we moved out.
Still none the wiser as how his finances were so fucked that he wiped out his pension and went bankrupt despite selling a house that valuable.
Next door neighbours sold theirs for over a million just after we moved out.
Still none the wiser as how his finances were so fucked that he wiped out his pension and went bankrupt despite selling a house that valuable.
By Hitch Go To PostMy parents had it but my dad fucked up and they had to quickly sell it and rent it back in a downturn just to get close to erasing their debts. Similar houses on that street were going for £900k a couple of years after.Cash is king my dude. Once you have liquidity you are able to take advantage of opportunities that only appear in certain situations.
Next door neighbours sold theirs for over a million just after we moved out.
Still none the wiser as how his finances were so fucked that he wiped out his pension and went bankrupt despite selling a house that valuable.
