Not a pleasant sign!!!! S&P 500 rises, but on track to snap longest monthly win streak since 1959 The Dow and S&P 500 were on track to snap 10-month winning streaks. The Nasdaq was on pace to post their first monthly loss in eight months. Stocks dipped in correction territory earlier this month.
What you fail to understand is that this entire global market place in every asset class has had nothing but handouts and free passes, what I'm saying is that the free market has not once dictated price movement in any asset class since the fed has intervened....remove the fed from the equation and everything I have mentioned would be a true reality....
Almost every factor supports a strong Toronto market through year 2050. The only risks are those who bought recently ( let's say roughly within 3 years ) and have no intention of residing here longer term. Most of the press involves detached homes which is a fairly small portion of the market with no new supply at all. I'm not a rich owner like some of my friends, but the money I've saved for years now on my living space is huge, and the price appreciation is a nice bonus. In fact, the biggest risk in the Toronto market is for renters who have to pay a lot to rent a decent place in Toronto, money they'll never see back. If you rent a modest space for $25K a year, that adds up over 5-10 years. I didn't necessarily plan to be in this situation when I bought, but the best opportunities are like that they just make sense and you don't have to babysit your investment or worry about at all. Here's an eye opener. If you'd have bought TD Bank in 1995, it cost $2.50 ( adjusted for splits ). That same stock costs $75 today and is viewed as a good buy at that level. I never would have been excited about TD Bank as a purchase in 1995. That's because I lacked the patience at that point to do so. Luckily I was patient on the real estate side, it's been the easiest most stress free investment in my lifetime.
Most of your beliefs are just bs. That's what I'm telling you. It just seems you'll never learn no matter how much evidence works against you. How is this working for you ? What was your return in 2017 when a passive investment in US indexes paid well over 30% ?
It is my nephews and nieces in Toronto that are buying...right out of college. I understand they have a long holding period ahead of them, but also, it feels like they are jumping in fresh out of school. We shall see. I am sure it will work out eventually.
Get ready for cnbc's up all fu$king night special report on today's continuous two day sell off.... I can see it coming any day now....
How are they able to afford real estate out of college, don't they have tens of thousands worth of student loans and no work history of being able to afford a $250k loan?? Or is Toronto real estate $8 a square foot???
In some cases, buying a place even at today's prices is better then commuting ( time is money ) and/or paying high rents. I would think living outside of Toronto would be best in the short term but not everyone can pick their location. Choosing a small place reduces the risk, trade up later when you have equity. Detached homes went up too fast last year; however, more modest places had great returns in 2017 as demand went up. Rental market would shock you. However, some young people have great jobs.