“40 years old, married with two young kids. Leaving for Victoria and a mortgage free life. Now I can focus on building a retirement portfolio and not having the bulk of my wealth tied up in my house.”

“I am leaving as well. 40 years old, married with two young kids. Leaving for Victoria and a mortgage free life. Now I can focus on building a retirement portfolio and not having the bulk of my wealth tied up in my house. Thank you Vancouver Realestate its been great, but I am out! I feel like I won the lottery.”
2muchdebt at VREAA 14 Jan 2012 12:44pm

5 responses to ““40 years old, married with two young kids. Leaving for Victoria and a mortgage free life. Now I can focus on building a retirement portfolio and not having the bulk of my wealth tied up in my house.”

  1. A great pick-me-up story of the day. Remember selling houses in and of itself produces no value. With this family mortgage free at 40, others must balance the ledger.

    • Exactly.
      Again, the question to ask those who want some kind of ‘soft landing’:
      “Who do you want these folks to be selling to?;
      Who do you propose steps in and buys?”

  2. So I’m guessing he’s selling at well over a million in Van, and buying for maybe $500 or $600 in Victoria, with the rest going to pay off his original mortgage, and maybe a sizeable chunk of change left over for investing. Good job. Even if the market went up for another two years and his friends all chide him for his “mistake”, he still made the right call. No one can pick tops and bottoms. If he was able to lock in a massive gain, he did just fine. The downside risk is now someone else’s problem.

  3. It will be the taxpayer’s problem thanks to the CMHC. Will Canada need to print money too?

  4. Well done 2muchdebt.

    There will be many winners out of this crash. But the majority will lose.

    Most just opportunity, but anybody gorging on credit in the last 6-7 years will be smashed and really will lose

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