大C姐

LOL!!!  Rent can not increase overnight by 50%.  The law does not allow such thing to happen :p  
...
MSN04 發表於 2010-9-3 16:06

    Not basing your decision on predictions DOES NOT equal to buying with NO RESERVE!

I think your examples are very extreme. In my case of the Surrey condo, if the couple make decent income and the mortgage is so little, they can repay the mortgage fairly quickly (15-20years?) and they may have part of your principal paid off already by that 30% drop (if your example is based on a 30% drop the day after their purchase, then i have nothing to say). And quite frankly, no one here ( 大C姐 definitely not) recommending one to put ALL their income into the mortgage. ANY grown adult should have some reserve on the side, whether or not you own a property.

The law doesn't permit the SAME landlord to charge you double over night. But most people do month-to-month after one year contract, there is nothing for a renter to do if the landlord decides to kick you out is there? And you may go back to the rental market looking at places that are twice as much as what you used to pay! This actually happens quite a lot in many "up and coming" communities.



-- 30% downpayment 大C姐

auyatyat

回復 80# MSN04


Residential Tenancy Act...I can be wrong...I can't remember the exact %.
Only allow 7% increase for new lease.

MSN04

Not basing your decision on predictions DOES NOT equal to buying with NO RESERVE!

I think y ...
大C姐 發表於 2010-9-3 21:10

You know what is the average price of Vancouver house? Richomnd house? condos?
And you believe that the majority of the people buy with big reserve?  I guess the average income in vancouver per house hold is more than 200k... haha... I suggest that you get your facts straight before you put more weak arguement into this discussion.  The Canadian debt level is even worse than the boom time in US.  That means the majority do not have much reserve.  

And please realize that it was your example, not mine.  If you don't remember, scroll back.  A couple making decent income and willing to live in small box in Surrey.  Who is being more extreme here?  "Any grown adult should have some reserve"?  There are lots of thing people should do, but unfortunately, it doesn't meant they will do.  Canadian saving is at all time low at present time.  This is also a fact.

Please do a search and look at the how the rent is doing in recent years.  If rent is increasing as you said, the own to rent ratio would remain pretty much unchange and real estate would really be a good investment.  I would like to see some examples where "the increase" happens quite a lot.  As for landlord kicking the tenant out, it would be fun if the tenant decides to play with the landlord.  Also, going back to the rental market and find that the market has gone up twice? geez... what are u smoking?

MSN04

回復  MSN04


Residential Tenancy Act...I can be wrong...I can't remember the exact %.
Only allow 7 ...
auyatyat 發表於 2010-9-3 23:46

Yes, the point is that the landlord can not impose some stupid increase on tenant overnight.  THere is not a market for such thing anyways.

auyatyat

回復 83# MSN04

$200K annual household income? I guess it contains 4 adults, making $50,000 each?
I think I read an article about it, average household income is about $65,000 in BC, make sense if it contains 2 adults, 2 childern..

大C姐

You know what is the average price of Vancouver house? Richomnd house? condos?
And you believe tha ...
MSN04 發表於 2010-9-3 23:59

    Again, this is never meant to be an argument of rent vs own -_-"

I think you're dwelling into the specific of the pros and cons of renting and buying... I don't want to get into this conversation.

Someone asked me for my opinion on what is a good time to buy, I am assuming that person WANTS to buy. Again, if you don't think it's necessary to buy, or rational to buy a place, then DON'T! Don't even go shop for one, it's a waste of time! Just rent, renting for the rest of your life is not a crime, you don't have to persuade me. My example is just from my personal experience where people keep renting and moving from place to place (because landlord sell their place and whatever) and over the spread of let's say 10 years the rent increased A LOT (if not double, probably close), but their income hasn't changed for that much over 10 years.... so my point is, at least a mortgage is predictable in terms of monthly payment, all else being equal.

That's all... i don't care about average household income, as i said, i'm not interested in knowing what other people make, i'm only looking at my OWN financial situation. If i have the cash and i want the privacy, why the hell should i rent and be bothered by the landlord??

samsung

LOL!!!  Rent can not increase overnight by 50%.  The law does not allow such thing to happen :p  
MSN04 發表於 2010-9-3 16:06

I laughed so hard when I saw that line too

Thanks MSn04, I think you are in this industry

MSN04

回復  MSN04

$200K annual household income? I guess it contains 4 adults, making $50,000 each?
I th ...
auyatyat 發表於 2010-9-4 01:04

Really, i dun remember.  I think the average that I read is around 80k.

MSN04

Again, this is never meant to be an argument of rent vs own -_-"

I think you're dwelling int ...
大C姐 發表於 2010-9-4 09:07

Initially, i just want to make the point that people should take future market into consideration.  US is a good example.

MSN04

I laughed so hard when I saw that line too

Thanks MSn04, I think you are in this industry  ...
samsung 發表於 2010-9-4 11:49

haha... no... i am not in an industry that is related to real estate...