本文发表在 rolia.net 枫下论坛#128 supermike on 04.23.11 at 10:26 pm
Well, I read something online and learned the martket is carzy. I just didn’t realize the market is THAT CRAZY!
We had a dinner with some friends last night. A huge argument between me and my friends.
Here is the story.
Friend couple A:
They just bought a house 2 days ago. 2 Offers, but they still increase the offer price from 54K to 56K, and no condition offer. They were scared that they wouldn’t get the house if they put condition.
I didn’t ask how much money they make. But we are friends for years. I know both their 2 daughters are qualified for daycare subsidy. So I suppose they don’t make much money to get qualified.
a 560K house for a family making 80K a year at most, well, I don’t really get it.
But, after learning the story of couple B, I know couple A are not so crazy.
Couple B:
The wife is a city employee(forgot which department), 2 years experience. The husband is an operator in a Bombardier plant. He was laid off for a while 2 years ago, then was recalled.
I didn’t ask how much they make. But according to my knowledge, I think they make 100k-110k a year at most.
They have 2 daughters. They bought a small house 3 years ago. And They are looking for a new house around 900K!
Wow, my knowledge was that a 900K house needs family income around 200K a year at least!
Can anybody tell me I was totally wrong?!
And you know what they told me? They are gonna buy a house for 900K. 10 years later, when their daughters go to college, their house will be worth 1.5M. Then they will sell the house and buy a 1M smaller house. They will have 500K to pay for their daughters’ tuition and still have tons of money left. They are gonna be very rich anyway!
WOW!
Couple C:
Bought a house near the lake more than 10 years ago. That house didn’t appreciate lot. They are looking for a new house for more than 800K in Richmond Hill, Toronto. The husband told me that a 800K house will be 1.4M in 2 years in that area.
I knew he only had 2 beers. But I asked how much alcohol he had to get that high. Then I was laughed at and teased like an alien.
I was told “man, don’t argue with the market”.
Couple D:
They bought a house in a very hot area for 420K early 2009. (I should have bought a house back then, I still think that was a good time to buy a house, even there is a correction, the price won’t drop to that level anymore). Their neighbour just sold a similar house for around 600K. Around 200K for 2 years!
They are not looking for a new house but they are encouraging everybody around them to buy a house ASAP.
The wife said there were not many buyers when they were purchasing their house. I asked, well, you know it was a bottom when nobody was purchasing a house. But it seems that everybody is trying to buy a house, why don’t you think it is not a peek? I was told “Don’t be crazy, housing price will never drop again.”
Well, my friends are not 100% positive. They said there would be a minor correction. AFTER there is another 100% INCREASE!
I was so tired. Argued a lot. ALONE! I was like an alien!
There was such an argument that everybody was excited. The beer consumption broke the record.
I really feel bad today. Not because of the hangover. I think you know the feeling when your thought is different from everybody you have known for so many years.
Am I right or dead wrong. God knows. I just feel very bad at this point. Fortunately my wife is not pushing me too much.更多精彩文章及讨论，请光临枫下论坛 rolia.net
Well, I read something online and learned the martket is carzy. I just didn’t realize the market is THAT CRAZY!
We had a dinner with some friends last night. A huge argument between me and my friends.
Here is the story.
Friend couple A:
They just bought a house 2 days ago. 2 Offers, but they still increase the offer price from 54K to 56K, and no condition offer. They were scared that they wouldn’t get the house if they put condition.
I didn’t ask how much money they make. But we are friends for years. I know both their 2 daughters are qualified for daycare subsidy. So I suppose they don’t make much money to get qualified.
a 560K house for a family making 80K a year at most, well, I don’t really get it.
But, after learning the story of couple B, I know couple A are not so crazy.
Couple B:
The wife is a city employee(forgot which department), 2 years experience. The husband is an operator in a Bombardier plant. He was laid off for a while 2 years ago, then was recalled.
I didn’t ask how much they make. But according to my knowledge, I think they make 100k-110k a year at most.
They have 2 daughters. They bought a small house 3 years ago. And They are looking for a new house around 900K!
Wow, my knowledge was that a 900K house needs family income around 200K a year at least!
Can anybody tell me I was totally wrong?!
And you know what they told me? They are gonna buy a house for 900K. 10 years later, when their daughters go to college, their house will be worth 1.5M. Then they will sell the house and buy a 1M smaller house. They will have 500K to pay for their daughters’ tuition and still have tons of money left. They are gonna be very rich anyway!
WOW!
Couple C:
Bought a house near the lake more than 10 years ago. That house didn’t appreciate lot. They are looking for a new house for more than 800K in Richmond Hill, Toronto. The husband told me that a 800K house will be 1.4M in 2 years in that area.
I knew he only had 2 beers. But I asked how much alcohol he had to get that high. Then I was laughed at and teased like an alien.
I was told “man, don’t argue with the market”.
Couple D:
They bought a house in a very hot area for 420K early 2009. (I should have bought a house back then, I still think that was a good time to buy a house, even there is a correction, the price won’t drop to that level anymore). Their neighbour just sold a similar house for around 600K. Around 200K for 2 years!
They are not looking for a new house but they are encouraging everybody around them to buy a house ASAP.
The wife said there were not many buyers when they were purchasing their house. I asked, well, you know it was a bottom when nobody was purchasing a house. But it seems that everybody is trying to buy a house, why don’t you think it is not a peek? I was told “Don’t be crazy, housing price will never drop again.”
Well, my friends are not 100% positive. They said there would be a minor correction. AFTER there is another 100% INCREASE!
I was so tired. Argued a lot. ALONE! I was like an alien!
There was such an argument that everybody was excited. The beer consumption broke the record.
I really feel bad today. Not because of the hangover. I think you know the feeling when your thought is different from everybody you have known for so many years.
Am I right or dead wrong. God knows. I just feel very bad at this point. Fortunately my wife is not pushing me too much.更多精彩文章及讨论，请光临枫下论坛 rolia.net