Quote:
Originally Posted by thebrownboy
What did they do with the money they were going to use to purchase the house?
They could've invested it and got the same return as the increase in the house price. Even if it did not come back down, they could still purchase the house because their money went up also.
The whole point of waiting to buy is to see if prices come down at all but don't just sit on the money. Invest the money. If they do come down then great, you can purchase and you'll have some money left over extra now too. If they don't, then your investment rose equally with the price of the home and you can still purchase it either way. Don't sit on the money and it won't affect you.
Looks like a win-win situation to me. Only way to lose is if you aren't doing something else with the money instead.
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Honestly, your point makes sense if the situation was almost anywhere else other than Vancouver
I don't know what you do for a living, or how much you make, but how much do you invest and what's your return like? If you're telling me you can get the same return as in increase in house price, you should write a damn book and make millions. How much money and how long does your investments need to make $100k? because people are buying houses and selling them BEFORE they are even sold for a quick million dollars.
Waiting for that drop? Have fun waiting though.. like I said before, if the market drops 50%, its still unaffordable. 50%!!