This is the same outfit that had 600 respondents to a poll indicating support for metered water in our province of 4.1 million.
I just wonder how many respondents they had for this poll?

The only ones benefiting from home sales are the Realtors. If you think as a private citizen that you will profit because the sale price of your home has increased since you bought it, you are sadly mistaken.
using a normal mortgage rate, you will have paid more than three times the initial price paid for your home. If it has doubled in value since you bought it, that means that the profit from its sale is minus 33%.

Also, you will need to buy another residence which will be about the same value as your current residence. What profit?
Realty should be held in perpetuity.

Yeah, and what is going to happen to these people that gets a four hundred thousand dollar mortgage at 3% when their term is up and they now have to deal with a 6% rate. Sounds familiar, wake up.

Very true He spoke, but oddly enough,that is one of the things people have a tendancy to forget!
It happened in the '80s and it will happen again.
Logically,where do we think the interest rates are going at the first possible opportunity?
They sure as hell are not going down!
When the economy turns,so will interest rates!
Very dangerous to people with large mortgages!

Sorry Loki, I don't quite understand your basis of losing money on a residence. If you were to rent instead of buying, you would be paying off someone else's mortgage growing their equity and not growing any of yours. So as you look at being down 33% due to mortgage interest, you actually have accumulated some equity upon the sale of your house.

Loki - my paid off honeymoon, wedding, 3 vehicles, university education and more disagree with your analysis. There is money to be made in real estate, although I agree that Realtors get a disproportionate share of the profit.

Yes it costs money to live as numbers stated. But there are still homes available that are cheaper than renting - how can you call that loosing money?

If you are lucky enough to buy at the bottom and sell at the top, you'll change your tune in a hurry!

95% of all millionaires made it through real estate.

For those who don`t understand regarding this subject, why do you even enter into the conversation. Uninformed nay sayers will always muddy the waters.

Nice to see people like rayban68 and numbers questioning the gibberish being posted here.

Harbinger, that is a pretty sweeping statement. Can you back it up with figures?

Runner46 - its a well known fact that 68% of statistics are made up on the spot - perhaps that is where Harbinger got the number from?

I would guess that a large percentage of millionaires made their fortunes by wisely choosing to be born into the right families, however, real estate investment is certainly a proven wealth generation strategy.

rayban68
I would agree with you 100% of the time

If you are looking for local market numbers have a look at these guy's website. They update it every month so you can follow what is going on in P.G.

http://www.pgpropertypros.com/marketreport.html

I like these guys. They are straight up and honest guys.

Yes, the majority of the wealthy did do it in realty. What I said was for a private person to take their residence and "flip it" for profit would be in a losing position. Someone using property as a commodity is in a different financial situation entirely.

That is great that you have such an affluent life. I have worked my butt off to get where I am which is quit modest. Have you considered giving back to the community by sharing your wisdom with the less informed? Perhaps mentoring some up and coming young adults?

78% of the people I polled agreed. After all, everyone uses percentages, don't they? Why not me?