Quote:
Originally Posted by 4444
when rates increase, those $400K condos get awfully unaffordable
there's no rush, wait out the downward part of this ride and buy at a discount compared to today's prices
yes, kits is a premium area, but $400K for a place that rents for, what, $1500? doesn't make sense, the ownership premium is NOT that great - the capital appreciation upside is basically non existent
wait, be rewarded
if you have money burning a hole in your pocket, invest it in something stable (so you can liquidate when the time is right to buy), diversified (see stable) that pays you to wait (well, you should be paid, right? i know i like to be paid for investing)
life is WAY simpler than ppl make it out to be!
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Thanks for the advice, we (me and my wife) actually already discussed jumping on something here isn't a reasonable idea. I already own real estate elsewhere in Canada, and have renters, and until it makes sense to sell there and buy here I'm not likely to buy here. My renters are out in october, so I have a while to see what the market does. The area I own in has a retardedly low vacancy rate, and is quite stable, at least for the time being, so the looking is more of a curiosity at the moment.