Amos

[Amos @John459337]

@Tablesalt13 This is benchmark (which is more instructive than average), not average

[Amos @John459337]

@Bains36 @BenRabidoux My point is that if you want to own an SFD and you don’t like snow or small towns on the west coast of BC (many of these are also affordable) then you’re likely shit out of luck

Because -60% is very unlikely. Have to live in reality.

[Amos @John459337]

@Bains36 @BenRabidoux Better move

[Amos @John459337]

@BenRabidoux Average, median, benchmark?

[Amos @John459337]

@shdwbnkr @Master_Javed @BenRabidoux …may have overestimated decline in net worth. Not sure…I don’t pay too much attention to this.

[Amos @John459337]

@shdwbnkr @Master_Javed @BenRabidoux 2/2

Eg, I’m an RE investor (US and 🇨🇦) and it’s been pretty meaningless for me bc I have no debt and my rents are higher than ever (due to recent turn over of long term tenants) + best tenants I’ve ever had. Net worth is down (7m—>6m) but I don’t lose sleep over this

[Amos @John459337]

@EconguyRosie Certificates of confiscation

[Amos @John459337]

@Robbiev1011 @CanadaRecord @JohnPasalis I have no debt (of any kind) 😉

[Amos @John459337]

@Robbiev1011 @CanadaRecord @JohnPasalis So now your point is that you and your friends want a crash?

You are seriously digressing here. lol

FYI: I’m not a boomer, I’m 49 (5 years older than the oldest millennials)

[Amos @John459337]

@NorthTrendsCA @BenRabidoux ‘Fairness’ is for 5 yr olds (and it’s in the eye of the beholder)

[Amos @John459337]

@CanadaRecord @JohnPasalis 💯

[Amos @John459337]

@JohnPasalis Well policy makers better get busy if they want to protect those insane gains because prices and rents are/have been declining precipitously

[Amos @John459337]

@patersonjeff That’s a helluva proboscis

[Amos @John459337]

@BradDunkley @SteveSaretsky I think 4% inflation almost invariably = significantly higher rents. And higher rents likely are at least somewhat supportive of housing prices

[Amos @John459337]

@JohnPasalis I would buy 5, but based on current rents (which are falling) I would need prices to ⬇️ an additional 40+% for me to do so - at which point homes would be very affordable

Ie, this a false dilemma - homes can be both affordable and good investments (see Phoenix from 2009-2020)