Re: Vancouver Housing Bubble (not that there is one...)


"PolishKnight" <marek1@xxxxxxx> wrote in message
news:marek1-E19538.17223315072006@xxxxxxx
(snip)

Mark wrote:
That's just: Women selling their eggs and people putting
their entire lives into buying... apartments sounds
like it's _unsustainable_.

Women cannot possibly gestate each and every egg they're born with
(approximately 3,000). They've got lots extra to sell to whoever may need
them. Seems to me women have an overabundance of eggs, yet they fetch a
high price.

As for buying apartments, people will buy what they buy at a price they want
to pay.

Howz the next generation
of greatest fools supposed to keep those RE prices
going up?

If the price crashes, it crashes, yet the real estate will remain. Future
generations will continue to buy.

(snip)

Heidi wrote:
They want to own something...be that
a piece of land or a piece of a building. They don't want to be tenants,
because it smacks too much of the Feudal order.

Mark wrote:
Hahahahahaha! Even peasants of the middle ages had
huts with greater than 500 sq ft.

....but they didn't *own* these huts. They merely rented them. They rented
them until the price got so high, they revolted and seized them as their
own.

And how are these
professionals supposed to enjoy the nightlife if
they're working 60 hours a week just to pay off their
banker lord?

Nowadays you can have that choice of masters...landlord or banker lord. You
can also choose to avoid both. Nowadays you can choose the depth, breadth
and conditions of your own slavery and you can choose your own master, if
any.


That's partly why I left coastal california like a
lot of people: They were so busy commuting and working
to live in the area that they couldn't really enjoy
it.

Well ya...it's that Puritan work ethic. Your country is founded on such a
principle.


I spent more time relaxing there as a tourist
than I ever did living there.

Mark, nobody is telling you that you have to take out a mortgage and/or
accumulate wealth. It's o.k. not to own anything if you don't want to.


It's that Western mindset...*ownership* over being that vassal to some
landlord. It may not make much economic sense to you, but there's more
to
it than just money.

You have a point there: There is more than just money
at stake. Young professionals being set up with 20 and 30
year loans for studio apartments are going to have to struggle
just to make ends meet much less start a family.

....and that is *their* choice.


I don't know what you have against landlords. Were you
abused by one or something?

I just found that the few landlords I did have were way too snoopy! I also
didn't care much for this whole idea I'd be paying off his mortgage when I
could be paying down my own.


Mine have always been
reasonable and pleasant and even proactive making repairs
for their own best interests.

Yes, mine were rather charming and accomodating snoops. The sooner I got a
landlord out of my life, the better. I like my privacy and I like being
able to build up my own equity. I like being able to renovate the place any
way *I* like. I've never been one to ask for permission to wall-paper or
paint my own living space!


Owners who've bought older homes in the area tell me that
they now no longer go out on the town like when they
rented because they have to fix the sink, or do the
yard, or work on the heating ducts, etc.

For some people doing this sort of stuff is a hobby. They like gardening,
they like puttering around the house. If the house feels like a burden,
then don't live in one!


Whoever heard of a tenant king? If every man is to be
that king of his castle, he's got to at least own his own castle. ;-)

Heidi

Mark wrote:
Heavy is he whose head carries the crown, or something
like that?

It's a matter of perception. If the crown feels too heavy, don't wear it.
If you feel tied to the house, don't own one. If you don't want to mow the
lawn, then don't do it.


As I discussed in a previous thread, some owners are
more hyper and worried than secure in their castles
worrying about their neighbor's every move.

Well...having driven through Los Angeles years ago, I already noticed way
too many Americans locking themselves up behind bars voluntarily. They've
got so much freedom, they're building their own prisons to lock in crime!
;-)

Heidi


.

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