Quote:
Originally Posted by duc_evo_sp
Even with Real Estate, I can see that there will be a "BIG CORRECTION" aka "COLLAPSE" that will benefit the few and burn the majority.
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Anyone reading this... or any other absurd article about housing crash in Vancouver, or stock market crash or end of the world type article... please take it with a grain of salt. These are all really just extremist opinions about what could potentially happen.
Stocks for example... there was a huge scare a few years ago (2011?) due to media hype - much like the media hype about RE in Vancouver. In 2011, the world was going to end, USA was going to shut down yada yada. The following years, if you invested in the US economy, your portfolio would have soared, especially with the 30% gains over the last year alone. Say the economy tanks in 2-3 years, so what, at least you collected the dividends and made money on the run up before getting hit with a correction.
Same thing goes for housing, you never know when a correction will come. It might come soon, it might come 10 years from now (it's 4 years from the 10 year anniversary of the major recession!). But do you really want to miss out on the next run up in property value - you could wait and totally get priced out of the market... but will the dip be enough to price you back in at that point?