Exclusive: More Americans predict Trump will win debates than Biden, USA TODAY Poll

vanzandt said:
Lets put politics aside, I'm gonna throw you a bone. Now of course you will find a half dozen ways to disagree with me on this, it is ET afterall and the people down here in the cellar live to argue. However, comma, if I were you, I'd listen up.

Your last sentence is 100% correct, its not going to be good for the young people.
When America catches a cold, as the old saying goes...the world gets the flu.

We will see a major recession in 3 years or so. Regardless of who wins in November. And it will be a doozie. Biden might usher it in a little sooner, but either way, Trump will see it in year 7-8 if he wins.

My advice to you my friend, is to sell out any property you own in that market while the sellin's good. Don't hold on for another 20%, because I don't think you'll get it. That market up there is just like a stock with a super-high beta. They crash the worst. That whole tech industry up there, whether you want to admit it or not, is joined at the hip with our tech industry down here. There is lots of Chinese money driving your local RE market up there, and recession aside, tech will move to emerging markets like Vietnam.

Your RE market is gonna crash within 3-4 years. Possibly sooner. Low rates only work for so long in any given local market. The big money scoops it all up. Your average tech salary up there has not marched lock-step with the cost of housing. And make no mistake, several of cities our will crash too.

My advice... I'd give strong consideration to selling out soon and relocating to a lower cost area of Canada, of which I am sure there are more than a few. You will thank me someday.

Now... back to our regularly scheduled ET bs.
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You are mistaken on this topic much as some posters have been at several points since the year 2010. My place is worth at least 300% more then I bought it. It's costing basically nothing to carry these days and I have a decent sized place fairly close to everything. I'm not interested in speculative trading of real estate.

What I posted August 2010 on this topic in reply to similar ideas on Canadian real estate at the time :

Nine_Ender said:
Demand is growing right now for prime real estate in Canada. Maybe take an economics course and try to understand how demand/supply work on prices.

Its only going to get better. Emerging markets have a lot of new wealthy families that want their kids growing up with clean air, less crime, and better schooling. Canada is a popular choice.

I think over 10 years, that Canadian real estate will outperform US real estate at today's prices. If you don't agree, there is certainly plenty of cheap real estate in Florida and California to buy; I even heard in Detroit or Buffalo you can get a house for $100. Go for it !!!
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Should I go over the real data since then ? Very few if any American real estate markets were better investments then anything in Toronto from August 2010 to now. So I was bang on forecasting this in 2010. You may think you have a crystal ball but I have serious doubts. Not that I care at all what the prices do the next 4 years.

I suppose you could short Canadian banks as was a popular American recommendation back in 2010 and 2011. But do note I am recommending buying the very same banks and have done so since March.
 
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Nine_Ender said:
You are mistaken on this topic much as some posters have been at several points since the year 2010. My place is worth at least 300% more then I bought it. It's costing basically nothing to carry these days and I have a decent sized place fairly close to everything. I'm not interested in speculative trading of real estate.

What I posted August 2010 on this topic in reply to similar ideas on Canadian real estate at the time :



Should I go over the real data since then ? Very few if any American real estate markets were better investments then anything in Toronto from August 2010 to now. So I was bang on forecasting this in 2010. You may think you have a crystal ball but I have serious doubts. Not that I care at all what the prices do the next 4 years.

I suppose you could short Canadian banks as was a popular American recommendation back in 2010 and 2011. But do note I am recommending buying the very same banks and have done so since March.
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2010 was the buying opportunity everywhere. Plenty of the places in the States have realized that return.

The last recession ended in 2009. Some are calling what we are in now a recession and perhaps it is by definition using GDP etc, and perhaps it hasn't played out yet.

Another 100% means your house doubles. Do you really think wages up there will double? Who's gonna buy it? Trust me, your market is gonna flatten out at a minimum. But like you said, you're comfortable so in the end that's all that matters I suppose.
 
vanzandt said:
2010 was the buying opportunity everywhere. Plenty of the places in the States have realized that return.

The last recession ended in 2009. Some are calling what we are in now a recession and perhaps it is by definition using GDP etc, and perhaps it hasn't played out yet.

Another 100% means your house doubles. Do you really think wages up there will double? Who's gonna buy it? Trust me, your market is gonna flatten out at a minimum. But like you said, you're comfortable so in the end that's all that matters I suppose.
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What you are missing here is housing prices in Toronto didn't really correct at all from 2008 to 2009 like many American centers did. In fact, that was the premise of some American posters in 2010; our real estate corrected so Toronto real estate had to correct. They were wrong. Not only did numerous posters on here and several US based hedged funds disagree that it was a "buying opportunity", they wanted to short the market somehow. If the economy goes bad, you want to be in areas of relative strength and value.
 
Nine_Ender said:
What you are missing here is housing prices in Toronto didn't really correct at all from 2008 to 2009 like many American centers did. In fact, that was the premise of some American posters in 2010; our real estate corrected so Toronto real estate had to correct. They were wrong. Not only did numerous posters on here and several US based hedged funds disagree that it was a "buying opportunity", they wanted to short the market somehow. If the economy goes bad, you want to be in areas of relative strength and value.
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Well, I admit I have never once looked at or monitored the Toronto RE market so in that regard unlike most et'rs, I'll take your word for it and move on.
 
vanzandt said:
Well, I admit I have never once looked at or monitored the Toronto RE market so in that regard unlike most et'rs, I'll take your word for it and move on.
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I will have to agree that Nine_Ender is correct bout the Toronto real estate market. The prices are through the roof and the market has never corrected. Most analysts including many of the local Toronto media outlets and real estate financial analyst firms do not understand why the Toronto real estate market has not corrected --- nor is there a clear understanding of what is propping up the market. I was one who firmly believed a while ago that the Toronto real estate market would correct.
 
Both sides always claim victory in these debates so that fact that there is some impartial determination who "won" is laughable since there is no winning a political debate...you just make your pre-arranged and practiced bullshit statements no matter what question is asked.
 
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