Bulls continue to use variations of “Buy Now Or Be Priced Out Forever” to justify their own positions, or to strike fear into the few non-owners who are still prospective buyers left in the region. -vreaa
This from instigator at RE Talks 30 Dec 2009 6:13 pm –
“It’s a matter of you being on the boat or not…whether you have the funds or the balls or confidence or whatever to make that next step..
I have an older co-worker. He moved to Mission years ago…back then he didn’t want to pay the prices around metro Vancouver, I guess. Well, now he regrets it, and feels he missed the boat…The difference in value of the metro Vancouver areas grew way higher in value [compared with Mission] than the difference in price 20 or so years ago just due to the appeal of the metropolitan area… It will take a long time for Mission to ever reach that level, if ever…If a person with riches comes to town they aren’t moving to Mission. There are also a lot of movie industry people living around town, too, adding to the rental pressure.. Housing demand whether for rental or PR is still housing demand. This for me means that there will be demand for as long as people are coming here…That is why I don’t want to miss this boat like my older coworker..”
This from eyesthebye at RE Talks 30 Dec 2009 6:34 pm –
“I have a friend that moved away from Vancouver in ’99 because he and his wife couldn’t justify the high cost of owning a single family home. They are dual income professionals. If he bought 10 years ago he’d be a 6-700K richer just on the appreciation, then add the equity. The fundamentals didn’t make sense to him in 1999 and now they never will. This move remains one of his life’s biggest regrets. Yes, fundamentals do matter…just make sure you focus on the correct ones.” … [ This poster ends each post with: “The cure for higher prices is moving to a destination with lower prices”.]