tag:blogger.com,1999:blog-31427364.post5144445526737306490..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: Wealthy People Can Be Stupid Toomohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-31427364.post-819526126526562212008-01-20T20:42:00.000-08:002008-01-20T20:42:00.000-08:00re: “generational housing bubble”I am getting the ...re: “generational housing bubble”<BR/><BR/>I am getting the impression that a lot of buyers are getting their 50% down payments from their boomer parents. <BR/><BR/>Kind of funny, actually. The boomers sell, to the kids of other boomers, who are financed by their boomer parents, who sold to the kids of other boomers, financed by boomer parents, at nauseum ...Alanhttps://www.blogger.com/profile/00449919969036824198noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-39660112133271650532008-01-19T08:17:00.000-08:002008-01-19T08:17:00.000-08:00Very interesting report on demographics.I would th...Very interesting report on demographics.<BR/><BR/>I would think that some one born in the year 2000 will have their pick of housing and only be paying 2 or 3 times their annual income for a home.<BR/><BR/>Of course by 2030, the big chain fast food restaurants may be be paying their part time workers a $100,000 a year.<BR/><BR/>The problem by 2030, will not be the price of homes - but paying the property taxes.Johnny-Dollarhttps://www.blogger.com/profile/12950799399842707067noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-75498741572490145812008-01-18T13:21:00.000-08:002008-01-18T13:21:00.000-08:00Mollycoddled is a perfectly cromulent word.Mollycoddled is a perfectly cromulent word.Ryanhttps://www.blogger.com/profile/10104704096049638272noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-50735722747550957582008-01-18T12:57:00.000-08:002008-01-18T12:57:00.000-08:00Sam:"mollycoddled"Mollycoddled? Honestly? Isn't ...Sam:<BR/><BR/>"mollycoddled"<BR/><BR/>Mollycoddled? Honestly? Isn't that just about as archaic as codpieces and merkins (notice the only two words I could come up with that are no longer in common use are dirty words...)Mark Fengerhttps://www.blogger.com/profile/01922616270777907779noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-23620870160686320512008-01-18T12:41:00.000-08:002008-01-18T12:41:00.000-08:00Indeed - it seems a key investment mistake made to...Indeed - it seems a key investment mistake made today is to assume that the past 20 years of boomer-influenced economic activity is the new norm, rather than an aberration. People who assume that the next 20 years are going to proceed for them just like their boomer parents had it are likely to be unpleasantly surprised. Perhaps the last generation of North Americans are the most mollycoddled, rich, and complacent of all time? Or does it just seem that way.Mangohttps://www.blogger.com/profile/12783357836567969061noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-19251435352113310522008-01-18T07:20:00.000-08:002008-01-18T07:20:00.000-08:00Good work radley. I'll put a link up to your blog...Good work radley. I'll put a link up to your blog.<BR/><BR/>Patriotz - I wrote a post about the demographic impacts on housing back in the day. <A HREF="http://langley-financial-planning.blogspot.com/2007/05/good-afternoon-100-posts-57000-visitors.html" REL="nofollow"> Check it out here. </A> It references a study done by the federal reserve that says that baby boomers have driven down long term bond yields because of their pensions and investment behaviour and this, combined with their consumption patterns has caused the off-kilter environment we find ourselves in today.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-64951550060923788122008-01-17T23:26:00.000-08:002008-01-17T23:26:00.000-08:00The housing market has a new problem: ageing Ameri...<A HREF="http://www.economist.com/finance/PrinterFriendly.cfm?story_id=10534992" REL="nofollow">The housing market has a new problem: ageing Americans</A><BR/><BR/>" America should be bracing itself for the end of the “generational housing bubble”, according to a new study by Dowell Myers and SungHo Ryu of the University of Southern California. As the country's 78m baby-boomers retire, the report argues, the housing market will change dramatically."<BR/><BR/>But of course it's different in Canada because we don't have any aging boomers.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-80177818982038635452008-01-17T22:20:00.000-08:002008-01-17T22:20:00.000-08:00Excellent blog. I think I'm from the same school ...Excellent blog. I think I'm from the same school of thought. I've started up a blog of Calgary real estate market analysis. Just did up the price to rent ratios, and it's roughly double historical valuations:<BR/><BR/><A HREF="http://calgaryrealestatemarketblog.wordpress.com/" REL="nofollow">Calgary Real Estate Market Blog</A>Radley77https://www.blogger.com/profile/14825702358596382959noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-71568543564187847312008-01-17T20:48:00.000-08:002008-01-17T20:48:00.000-08:00I think in the US if you have lived in your house ...I think in the US if you have lived in your house for 2 years all gains are tax free. Don't know about deferrals.<BR/><BR/>The old rule was that it was tax free only if you used the money to buy another house of equal or greater value.<BR/><BR/>Of course in Canada all gains on your principal residence are unconditionally tax free, and there is no 2 year requirement as in the US. But you can have only one principal residence at a time.<BR/><BR/><I>The correct thesis is that homes were overvalued and lenders were far too willing to lend way above traditional multiples of incomes or property values.</I><BR/><BR/>Absolutely right, and this is what I have been pointing out myself. "Suprime" is just a label and means nothing. And of course I'm sure you've all head the refrain "there's no subprime in Canada and we can't crash". Well of course that's just another variation on "it's different here".<BR/><BR/>What matters is - surprise - fundamentals, i.e. the carrying costs of the property versus the market rent and local incomes. And we all know that the fundamentals here are just as ugly as anywhere in the US.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-9894076561927321322008-01-17T19:37:00.000-08:002008-01-17T19:37:00.000-08:00Ouch, ouch, ouch."Subprime" has a much greater dep...Ouch, ouch, ouch.<BR/><BR/>"Subprime" has a much greater depth and breadth than we can appreciate.<BR/><BR/>This time (2001-Now) has been our "Roaring 20's", and there is no place for those chickens to roost. There must be a cull.solipsisthttps://www.blogger.com/profile/11585532276216559502noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-78490835859109782352008-01-17T16:52:00.000-08:002008-01-17T16:52:00.000-08:00Does anybody know how cap gains tax works on prima...Does anybody know how cap gains tax works on primary residences in the US? I heard that it can be deferred but I don't know in what situations.Anonymoushttps://www.blogger.com/profile/07031134145303740188noreply@blogger.com