This. Nothing is “all” as shit happens but I’m more confident in old than new.

I just finished building a 12 unit apartment complex. In the process of purchasing an AirBnB house in Scottsdale. I'm in it for the long haul. I'm 32, can weather the storm and expect a downturn to happen at some point. I don't believe it will be anything like 2008. There were a multitude of factors that lead to 08. Only thing that could cause some fuckery is the .gov with their evicition moratoriums and rent control.

As others have said, I can't really speak for US, but Canada is fucking stupid right now.

Especially where I live, 10 years ago homes sold for ~300k (2600sq foot home I grew up in). Valued at 1.3m an it's an hour outside of Toronto. 5 years ago my mom sold her place for 875k after buying it for 185k 20 years ago.
Another shitty part is rent is stupid high now too. Everyone wants 2k for their shitty basement apartment or they'll ask for $800 for a single fucking bedroom. You're damned if you rent because now you can't save fast enough for a down payment.

Sort of feels like a self fulfilling prophecy. People buying for fear of missing out on low rates, artificially inflating prices, gov't keeping interest rates low.

Good time to be a home-owner, bad time if you're holding cash. Every home I look at ends up selling MINIMUM 100k over asking within 1 day of being listed. Saw a place I really liked for 799, ended up going for 1.1... Again, this is an hour outside of Toronto. Even places like Oshawa and Peterborough are seeing stupid increases in price. I wish my job wasn't tied to Toronto or else I'd be convincing the girlfriend to jump ship elsewhere, but as others have said, Toronto prices are slowly eroding the affordable housing in the rest of the province.

The UK residential market is ridiculous at the moment too. This was initially caused by pent-up demand from when the housing market was dead from March - June last year, but is now a result of government policy in offering stamp duty holidays and guaranteeing 5% mortgages from banks. They're just doing it because high house prices are essential for Conservative approval ratings

In terms of commercial real estate, prices have fallen and this will continue with the move to online retail. I wouldn't touch commercial REITs with a bargepole

Yeah Its crazy how far people are willing to commute. Barrie even.

This post was edited by SBD on Mar 20 2021 11:01am

I know people in communist SEA area are pumping up their asking prices prior to selling and they are being sold within 12 hours like 30-60k above price CASH.
People that never even wanted to sell are selling for their easy profit.

My sister just sold their house and within 24 hours had 5 offers and got about 15% over asking price in the end.

They bought this big ass ranch house in the country with a bunch of ponds and horse barns and such.

hey, somehow i missed this or didn't get the notice

yes I own my place and have a 1.79 5 year fixed rate since october
only problem is the upgrades to the house is burning through my wallet fast
we still need to renovate the basement in another 1.5 years and will rent that out for additional income so i think that should help

For many young owners even middle aged now unless they have well above average household income the only real way now days is to have a seperate unit in your home or rent individual rooms to actually be able to afford the monthly mortgage payment without forgoing everything else in life.

I assume there's millions of homes being held by companies in Canada? Here in the U.S. it's some ridiculous percentage of total homes being held by rental companies with another ridiculous percentage not being rented at all just so they can keep the housing supply low which keeps prices high.