Sunday, May 13, 2018

empathetical 1 point · 3 months ago Everyone drives flashy cars and have nice homes but are swimming in that debt Share Save


https://www.reddit.com/r/Calgary/comments/7smvlo/why_young_people_who_can_afford_it_are_choosing/











3 points·3 months ago·edited 3 months ago
Usually best to do opposite of the prevailing trend. The enlightened CBC highlighting renters...people on Reddit bragging about their amazing stock returns. Probably means expensive stock market and housing bottoming. Of course there are other factors which need to be thought of, as buying a house just isn't about returns.
3 points·3 months ago·edited 3 months ago
Usually best to do opposite of the prevailing trend. The enlightened CBC highlighting renters...people on Reddit bragging about their amazing stock returns. Probably means expensive stock market and housing bottoming. Of course there are other factors which need to be thought of, as buying a house just isn't about returns.

Downtown East Village3 points·3 months ago
It’s definitely a renters market right now, and as a homebuyer I regret my decision of buying. Literally all my “wealth” the last few years has come from the stock market (its been a long bull run) and none from real estate.
That being said, one thing I read somewhere was that the rich people of the future (when all the jobs are automated and we’re living on a universal basic income) will be people who own property to rent out. Obviously this is very far away but interesting nonetheless.

you bring up a point most people overlook. If a huge bunch of your net worth is tied to your house and in order to retire, you have to sell it, then what? You go from being a home owner to a renter? You become a Freedom 55 Commercial and retire to the affordable, nearby lake?


Everyone drives flashy cars and have nice homes but are swimming in that debt


19 points·3 months ago·edited 3 months ago
It's not just calgary
As an investment, I prefer something more liquid (sells in seconds), does not have realtor fees, and is more diversified than a single asset in a single location, tied to a single economy.


3 points·3 months ago·edited 3 months ago
It's all about being able to diversify your portfolio.
Either all your eggs are in one basket, or you spread them in a mix of high risk/low risk ventures.
Not to mention not having to stress about something happening to your single 500k asset. I've seen people lose 100k off their property value because of a golf course being replaced with a condo complex.
Anyone who can't see the benefits to renting is basically just showing how ignorant they are. You are too short sighted to actually understand the concept so you should probably not even bother trying. Just shut the fuck up next time your son or daughter talks about not wanting to buy a house and they will thank you for it.
I'll happily take the 14% return I got on my TFSA last year while being able to rent a place in the inner city for cheaper than buying a place in the suburbs.

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