Quote:
Originally Posted by 68style
You’re talking about literally everything from the perspective of someone who already knows what happened. I know people and read articles from industry professionals in fucking 2006 who said the market had peaked... you’re totally taking for granted that you know what happened, if you were thinking the market would crash back then and waited you got doubled again since then.
I bought a prebuilt 2 bedroom in Richmond for $255,000 in 2003 and my dad thought I was a moron cuz I paid twice as much as he bought his whole house for in 1985... I sold it three years later for $370,000... 3 years! Now it’s probably worth $750+... so anyone waiting for a cool off in say, 2006 when it already went up 40% over 2003.... and then now it’s doubled again since then?
Gimme a break, people have to live, you can’t fault someone for when they buy in like they should have known or they should just rent for all eternity. Hindsight is 20/20 and again it’s so easy to say when you’re sitting watching it happen, not stuck trying to make it happen for yourself amidst all the chaos.
I refuse to sit here and gloat at people who are trying to live their lives the best they can, I’m just thankful I was able to buy when I did and that’s where it ends... I don’t know any better than anyone else, I was just the right age bracket. It’s easy for me to say I’d never buy a place in this market where it’s fucking ridiculous! $500k+ for a 1 bedroom and I know what I bought mine for... but if I didn’t have a place and desperate to establish roots???? Fuck yah I probably would, wouldn’t feel good about it, but what choice do you have besides moving somewhere else?
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Agreed that if we look back in hindsight, all of us would definitely have taken a different approach. E.g. I bought a one bedroom last year for $600K in Vancouver; a year prior, it was $150K less to purchase the same thing.....Looking back, regret why didn't buy year prior because I can't even gross $150K in a year, yet alone NET, shit like this happens. It's life, I've moved on.