EnviroTO
Senior Member
What's a truly "gown up" setting...?
Female exhibitionists.
What's a truly "gown up" setting...?
And maetro's and urbandreamer's crazy 'predictions' of condo prices falling to $99000, or not being able to recover even today's reduced purchase prices are insane. They completely ignore the basic FACT, proven by the entire history of modern civilization, in which EVERY market has ups and downs, but its been proven time and time again that the real estate market is the best longterm investment. Stocks go up and down too, but if your companies go bankrupt your money is lost. Real estate always serves a primary function of shelter, and all the money buyers pay into it is just paying into equity, and they can just live in it or rent it out until the market is up again and make a handsome profit. Rent, regardless of the market, just goes down the toilet and pays off someone else's mortgage. Maetro's dad's buddy maybe needed money and 'had' to sell his investments at a loss, but if he had held on for the 10 year boom right after the late 80s crash, he would have doubled his money. Real estate is NOT like a stock, which you buy hoping to cash out quickly, it is a long term investment and one that should be made when you can afford to hold on until upcycles. But recessions like this are where savvy buyers can start making lots of great investments. I just sold a 'luxury' condo that is in a category that urbandreamer hilariously dismissed as 'forget about it', and I made a hefty profit, and friends who didn't buy when I did have been telling me they wish they'd taken the plunge then.
I too have been reading these comments. I do because they give me a good chuckle. These pessimists and doom predicters were around and laughing at me when I bought my first condo back in 1974. I put down my life savings of 2,500 on a 2 bedroom condo being built by Olympia and York just off of Wynford Dr. in Don Mills. It was expensive! 23,500. I couldn't even afford a fridge and stove. (They were extra then). Boy, did I get a riding from a lot of people back then.
Today my properties are worth several million and it all started with that 2,500.
As for all the naysayers, I don't understand why people who seemingly hate real estate so much spend so much time on a real estate board.
And you can pick up those condos for around 200 now. I hope you don't still have it.