Quote:
Originally Posted by Slava
Well if the thread was started and the price was at $410 and now its at $389 then we're looking at about 5%? I don't know though...maybe I'm missing that posters point or missing something there.
It is definitely worrisome how many people are counting on their home(s) to fund their retirement (to get back to a point made by Claeren on this page). I've talked to a lot of boomers who all feel that way, and while that might work for some people it can't support them all.
That demographic issue leaves me unsure of how best to play it though....I just don't want to rent!! Probably that is more based on mindset as opposed to anything else.
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Yeah, not sure myself. I've just been looking at the decreasing prices and sales since I joined and will admit that I didn't necessarily plow through all the posts from day one of the thread.
The demographic issue is another good point. I can't quickly find a better graph of the data but there was this for 2005:
As the "boomers" get older, retire and presumably downsize/sell their current home for cash - exactly who is supposed to buy these homes? Given the smaller and smaller wedges of upcoming vintages of adults, wouldn't the supply of (unsold) homes get larger and larger? I realize some people think HAM (hot asian money)
or immigrants will save places like Vancouver but will it really offset such a trend? Who knows.