The Night Before The Morning After – “Within my half hour walk through the downtown core at 11pm last night I overheard three groups of staggeringly drunk people conversing, arguing and yelling at each other about real estate, renting and mortgages. It was a tad surreal.”

“I had the fantastic endeavour of walking through the downtown core at 11pm last night [Saturday 2 Jun 2012]. Within my half hour walk I overheard three groups of staggeringly drunk people conversing, arguing and yelling at each other about real estate, renting and mortgages. It was a tad surreal.
I was entirely sober, walking home from a late work meeting. I usually treat myself to a walk and a listen to an album from start to finish, but on a weekend late night around Granville, it’s not the time for headphones for safety reasons.
I’ve never heard conversations like this before. Women yelling at each other that “it doesn’t matter if I can’t afford the payments one day, I can always go back to renting” another young man saying to his friend “no way man, I just want a place that’s worth $500,000. It’s gotta be worth $500,000″
To hear one conversation, no big deal, coincidence, to cover twenty blocks and encounter three passing conversations seems worthy of mention.”

Aldus Huxtable at VREAA 3 Jun 2012 8:59am and onwards

Coming next: Morning-after guilt; regret; shoulda-coulda-woulda; nausea; incomplete recollections; rewritings; “what-happened-to-my-wallet?”; blame; denial; repulsion; resolutions of abstention.
– vreaa

15 responses to “The Night Before The Morning After – “Within my half hour walk through the downtown core at 11pm last night I overheard three groups of staggeringly drunk people conversing, arguing and yelling at each other about real estate, renting and mortgages. It was a tad surreal.”

  1. “Coming next: Morning-after guilt; regret; shoulda-coulda-woulda; nausea; incomplete recollections; rewritings; “what-happened-to-my-wallet?”; blame; denial; repulsion; resolutions of abstention.”

    I can see the experience here… lol! That’s what I told myself the last time I did a pub crawl through downtown. It was epic!

  2. Granville’s a gongshow on the weekends. It is to be avoided like the plague. Surprised the kind of people who congregate there could even afford a 500k house…

    • Aldus Huxtable

      Shows how tight lending practices have been over the past decade. There is no responsibility exam before signing on the dotted line.

    • And thats the attitude that will keep you complaining and renting..

      • This Blog is Not About Me, It Is About the Housing Bubble

        After yesterday’s Wall Street Journal article many commentators have left nasty comments on my blog accusing me of being “a bitter renter” or other things.

        Here are some choice comments left.
        what a loser. 27 years old and renting part of a townhouse? get a life. do you even have a girlfriend?
        Wow. Now it becomes clear why David has been so angry and bitter for the past 2 year
        I’m sorry you missed the boat on housing. I’m sorry you think that at your age you are entitled to a particular kind of house or living style. I’m sorry you have to share your home with a bunch of people in order to pay the rent. I’m sorry you’ve spent the past 2 years of your life fostering and nurturing bitterness and resentment.
        As the article states, yes I am 26 and I do rent part of a townhouse with some friends. I am not bitter that I rent. I do not think at my age I am entitled to owning a housing units. In fact, I am really happy with my current living arrangement. I have plenty of room, cheap rent, a safe neighborhood and great townhousmates. 🙂

        In the article, I merely stated that a couple of years ago I started looking at buying a condo or a townhouse (where I would rent out a room). After studying the market in the Washington, DC area I came to the conclusion that there was a housing bubble. That is that real dollar prices had inflated to unsustainable levels and that real dollar prices would fall significantly in the Washington metro area.

        One commentator wrote regarding my blog that “It’s all about how unfair it is that some people have done very well in real estate and how come others have missed the train?” This blog is not here to complain about the fairness that some people have done extraordinary well in real estate during the boom years and others have not. The term ‘fairness’ appears zero times in my blog. In fact the term ‘fair’ ONLY appears six times in the whole blog and four of those times it used where I reference what others have said. In the two times I use the term fair it is not in anyway talking about the fairness of a housing bubble.

        This blog is NOT about my personal decision to rent or buy, but rather it is a blog:
        dedicated to the premise that there is a Housing Bubble in many locales in the USA. With a particular focus on the: When will it pop? Why will it pop? How will it pop? Where will it pop? Who is responsible for the bubble? Also the DC Metro Area bubble. Please join in the discussion.
        That is the purpose of the this blog. The housing industry has been cheerleading the speculative bubble that is the housing market. As we know from history, speculative episodes do NOT end well. They leave many people financially devastated. If the speculative episode is large enough it will lead an economy into a recession.

        This was written on WEDNESDAY, DECEMBER 27, 2006…

  3. reality check

    Is this topic for real? You’ve got to be kidding me

  4. why wouldn’t this be ‘real’? The people knee deep in this muck are generally born in the era 1960-1972, when both Pluto and Uranus were in Virgo. These two outer planets (despite Pluto’s relegation to minor planet status it is still huge influence in astrology) work together .. Pluto (subconscious explosiveness) and Uranus (sudden changes) in the sign of a critical, analytic, Virgo…. The next three years while these two planets are Squared (90°) will be Very Challenging to those so afflicted by the conjunction at birth.

  5. Here’s one for you vreaa:
    http://www.greaterfool.ca/2012/06/03/from-bull-to-bitch/#comment-175841
    “#16 Trader on 06.03.12 at 8:54 pm

    It’s not easy to get out of the market… but we just did that, and last week got the check. House is sold, money in the bank, and we rent now for about 70% of what it would cost us to own that house. Better rentals out there, but this one is exactly where we need to live.

    Such a feeling of relief, after 8 months of having the house listed, and a gazillion people tromping through, 2 offers that collapsed, 5 price decreases, two listing changes… and then that magical first time home buyer who liked how new the house was! (Thanks B.C. for the tax break to first time home buyers)

    Housing as a speculation is over with for me.”

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