Quote:
Originally Posted by 4444
given there are no fundamentals to support Vancouver, the risk aspect is through the roof.
so, to answer your question, yes, loads of better investment opportunities today.
hindsight is 20/20, had you put all your money in shares in 2009 and just sold, you would have made a mint. had you bought Teck shares at $2 or $4 back in 2009 and sold at $5x a while back, again, mint.
you use the word risk. 1 asset. 1 location. insufficient income to support valuation. from a financial risk standpoint, your investment BLOWS.
From a speculative standpoint, you may take on loads more gains (if you sell).
|
I hate your condensing and arrogant tone most of the times but gotta say I usually agree with what you said...
RE market in vancouver is risky (so is putting all your money into a single asset)...much of the pricing is supported by foreign money (immigrant, not foreign buyer) Low interest rate is a factor, but I don't think it plays that big of a row. Other parts in Canada are subjects to the same interest rate environment and you don't see housing prices thru the roof where there is a lack of immigrants. (e.g. Manitoba, Saskatchewan, Maritime Provinces...) Especially rich asian immigrants...
Tho I guess you can argue relying on these foreign money is safer than our shaky economy right now
Btw, people always said there are no fundamentals to support Vancouver's prices...But foreign money brought on by immigrant ARE part of the fundamentals. It is just unconventional and hard to measure compare to things like household income.