|
People are blind when it comes to real estate.
A good rule of thumb I use is 15x annual rent revenue, if it's priced way above that, no touching, if it's at or below, you would be able to buy and successfully cash flow from it.
Canada is way overpriced (we already knew that), Europe in most big cities are slightly overpriced (cheap money effect), US in markets outside of SF, NY, LA, is well priced / about rightly priced
If Canadian real estate never goes down, it actually doesn't concern me at all, I don't live in Canada anymore (another sign of the times, well educated/experienced ppl moving away for way better opportunities and money) but if this situation did, somehow, pan out, I'd just rent - I still don't see what the general public's problem is with this plan... And the funny thing is, I save/invest way more of my money (absolute and relative) than the average Canadian, so really their opinion means nothing to me
|