GREED is running a rampage on this world.....

[jimmylikes]

http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/

http://www.huffingtonpost.com/entry/wells-fargo-fraud_us_57d2d237e4b03d2d459a083c

I find this story hilariously sad and scary....wells fargo fires 5300 employees for fraudulently opening fake customer accounts and sending credit cards, etc. to pad their commissions....

The executives dont get fired?? 5300 employees were in on this but not one executive at the top?? They had no clue??? LOL .....

Nothing has changed since the crash of 2008. I smell another major crash coming to Toronto and Vancouver real estate. 70k average family incomes and $1.2 million bungalows? Ya that makes sense....very sustainable....

 

[italianguy74]

I smell a crash coming too, around late october. Investors normally don't like to hold through an election.

 

[explorerzip]

IMO the best thing to do today if you own a home is to hold onto it! Even if the market crashes tomorrow you still have a rent-free roof over your head assuming you paid off your mortgage. I know someone that sold 2 or 3 years ago since he was convinced the market was going to crash. His idea was to pocket the money, rent and wait for the market to crash. Naturally, he was dead wrong and he's now stuck renting because the prices have gone up so fast.

If you have another property, then it does make sense to sell and lock in the profits.

 

[black booty lover]

IMO the best thing to do today if you own a home is to hold onto it! Even if the market crashes tomorrow you still have a rent-free roof over your head assuming you paid off your mortgage. .

Unless your like 65 or older, I would assume most people have not paid off their mortgage.

 

[black booty lover]

. I smell another major crash coming to Toronto and Vancouver real estate. 70k average family incomes and $1.2 million bungalows? Ya that makes sense....very sustainable....

I was think about this very thing today. Something has to give. Even the off shore money can't keep the housing market the going the way it is. It just doesn't make any sense how this can sustain even if the average family was making more than 70k.

 

[HEYHEY]

IMO the best thing to do today if you own a home is to hold onto it! Even if the market crashes tomorrow you still have a rent-free roof over your head assuming you paid off your mortgage. I know someone that sold 2 or 3 years ago since he was convinced the market was going to crash. His idea was to pocket the money, rent and wait for the market to crash. Naturally, he was dead wrong and he's now stuck renting because the prices have gone up so fast.

If you have another property, then it does make sense to sell and lock in the profits.

And how exactly do you pay off a 1.2 million house on a 70k income?

 

[explorerzip]

And how exactly do you pay off a 1.2 million house on a 70k income?

And how hard exactly is it to read properly? "Even if the market crashes tomorrow you still have a rent-free roof over your head assuming you paid off your mortgage"

 

[explorerzip]

Unless your like 65 or older, I would assume most people have not paid off their mortgage.

All the more reason to stay put. You can definitely find a bigger, nicer, etc place far outside the city, but now you have to face the increased cost of getting around and of course there's real estate and legal fees, land transfer, etc. To me, there needs to be a very compelling reason to move like you don't have enough room for your kids.

 

[Smallcock]

know someone that sold 2 or 3 years ago since he was convinced the market was going to crash. His idea was to pocket the money, rent and wait for the market to crash. Naturally, he was dead wrong and he's now stuck renting because the prices have gone up so fast.

I feel for him. That's a textbook mistake, literally. Never try to time the market.

 

[Sugar-D]

I was think about this very thing today. Something has to give. Even the off shore money can't keep the housing market the going the way it is. It just doesn't make any sense how this can sustain even if the average family was making more than 70k.

Nothing has given in NYC yet. Their housing prices are still crazy. Toronto is still a very attractive (and expensive) place to live. There may be a slow down in the market, but there will be no crash.