Author Topic: WOOOOW Check out this 1.8 million dollar house !
tenkly 
Title: Best looking Outposter.
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Subject: WOOOOW Check out this 1.8 million dollar house !
http://www.cbc.ca/news/canada/story/2012/03/14/real-estate-overseas-investors.html

laugh doh!

 

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Aerlinthian 
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Subject: WOOOOW Check out this 1.8 million dollar house !
What Canadian housing bubble?

 

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Hammerhand21 
Title: That's what she said
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Subject: WOOOOW Check out this 1.8 million dollar house !
Maybe he though he was bidding in yuan...not dollars

 

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Ptilk 
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Subject: WOOOOW Check out this 1.8 million dollar house !
Single family homes in huge cities go for far more than 1 million. It's just reality. When I was looking for a home in Chicago back in the early 90's, my preferred neighborhoods (Lincoln Park to Uptown) did not have a single family home listed for under 2 million, and the ones in the 2 mil range were all tear downs.

Ended up buying a townhouse because I didn't want to live in the burbs and spend half a million on a 1000 square foot box.

 

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Bjorvald 
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Subject: WOOOOW Check out this 1.8 million dollar house !
Canadian housing is in a huge bubble that has yet to burst.

/queue "but it's different up here. Housing will always go up. Buy now or be priced out forever!"

 

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tenkly 
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Subject: WOOOOW Check out this 1.8 million dollar house !
YEah.. let's just ignore the fact that you can get a house 10x the size for 1/10th of the price

http://homes.point2.com/CA/New-Brunswick/Dieppe-Real-Estate.aspx

Those are houses in my area.. city population is around 200,000.

 

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Ptilk 
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Subject: WOOOOW Check out this 1.8 million dollar house !
Location is everything.

I paid next to nothing for my current house. It's brand new, 3000 sq/ft, and sits on a nice piece of property. It cost less than half of what I paid for a townhouse in Chicago 20 years ago.

It's also a 45 minute drive to anyplace with a population of over 1000.

 

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tenkly 
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Subject: WOOOOW Check out this 1.8 million dollar house !
I live in a city of a 200k population, and there are 3 cities nearby with a pop. of about 100k.

also a 2 hour ride to hit a city of 400k pop. and about a 10 hour drive for a city with over a million people.

 

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Ptilk 
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Subject: WOOOOW Check out this 1.8 million dollar house !
Oh, I think the price is ridiculous, it's just that it happens everywhere.

Single family homes in hot neighborhoods are very limited availability items. As such, people with more money than sense will always drive the prices to bat shit insane levels. It's not like they give a damn how much they spend, it's all just play money.

 

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Chant_ 
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Subject: WOOOOW Check out this 1.8 million dollar house !
If you talk to folks in many west coast cities [i.e. Portland] they have already experienced this. It prices the average person/family out of buying a home. However, eventually those potential buyers will leave and the market will correct itself.

 

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illmyrin 
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Subject: WOOOOW Check out this 1.8 million dollar house !
I bet the investment group is some tiny sliver of a tendril of an IMF program intended to apply economic terrorism against Canadians.

 

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Mastara 
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Subject: WOOOOW Check out this 1.8 million dollar house !
canada... lolz

no thanks

 

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YouMightSeeMe 
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Subject: WOOOOW Check out this 1.8 million dollar house !
Canada posted:
Mascara... lolz

no thanks

 

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B_Shinkicker 
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Subject: WOOOOW Check out this 1.8 million dollar house !
Reading that article is like time traveling back to 2005 in America. Its the new reality! People are going to have to settle for less! Buy now or be priced out forever?

Isn't the definition of insanity doing the same thing over and over expecting a different result?

What is sad is that in 2014 after the Canadian housing market crashes, you'll have all of the Canadian financial morons and real estate agents saying "NOBODY COULD HAVE SEEN THIS COMING!!! IT WAS DIFFERENT HERE!!!"

Morons.

 

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smellymotor 
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Subject: WOOOOW Check out this 1.8 million dollar house !
every few months we get told the property market is going to crash, i keep waiting for it so i can swoop in and pay a reasonable price.

$1.8 million doesnt surprise me if the location is good. its the land not the house that you pay for. i dont think any house would go for that much in a city as small as tenkly is describing over here

i just got back from spending the long weekend in Perth (West Australia) and because of the mining boom everythign in that city is way way overpriced. my cousins were trying to convince me to invest in Perth's booming suburbs

i paid $11.80(USD$12.50) for 2 coffees over there!

 

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