“It’s not easy to get out of the market… but we just did that. Such a feeling of relief. Housing as a speculation is over with for me.”

“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.”

Trader at greaterfool.ca 3 Jun 2012 8:54pm [hat-tip RE Lurker]

5 responses to ““It’s not easy to get out of the market… but we just did that. Such a feeling of relief. Housing as a speculation is over with for me.”

  1. Another one for you @vreaa.

    Both Garth’s post, but even better, this so awesome poem. =b
    http://www.greaterfool.ca/2012/06/11/a-time-to-reap/#comment-177559

  2. Trader, you’re welcome

  3. It is fortunate you found the First Time buyer. Your perseverance is noted. The boomer sellers are hot for this group. Last night there was a tv show (Neptune rules tv since television is a vendor of illusions) showing a 28 year old single woman being egged into buying a condo, in essence ‘marrying a mortgage’. Understanding the energy of a 27-31 year old (Saturn return), the media astrologers have basically taken this woman out of the gene pool, as any new prospective mates will cringe at her housing fiasco; the ball and chain of debt, and the uncertainty of affording children ~ going forward ~. Chalk won up for the demographic manipulators, reducing fertility rates is so much more easier when you’ve got them captivated by the Idiot box.

    As for your sale to the First House buyer, It is a testament to your intelligence to get out of this market now. Please consider adding more of your genes to the pool.

  4. We sold the townhouse in Richmond last July 2011 – thanks to Ben we realized that it is a time to go out if we want to capitalize the equity growth. Sine then the prices in our segment are only going down. Slowly though. The urge to buy something next – a SFH – was tremendous after we sold. The anxiety that we would loose the opportunity and all the media hype around it etc. I am so glad that we resisted and renting now. We rent the new (expensive) home in the best area that we would not be able to buy in. I found the experience of renting to be very beneficial for my overall understanding of the house we would need, it is like we got to try different type of houses before we get into the “no turn back” purchase contract. I already see that I would not want the house like the one we are renting now although it is new and my understanding improved of the necessary features our family needs. I am looking forward to move out for the next home experience. Some people would try to scare us by “renters forever” – well, it is better than to be forever in debt, when the bank owns part of your home.

  5. We also sold a great house, one that we put much sweat into. The mortage wasn’t huge but it still meant that most of our money was tied up and at the mercy of the banking system, and it would still take years to pay off. The Banks are not our friend their bad practices have destroyed many life savings and investments.The average American has lost 40%of their net worth,most being sucked out of the house equity. Look at Europe, Spain,Italy,Greece, France….depreciation. This is a warning Canada, our banking system/economy is not immune to whats unraveling, we are far too small and inter connected not to be affected. We rented a house that was unlisted by a Chinese buyer, its brand new and i could never afford to buy it. Now i’m not freaking out about what the Banksters are going to pull….out of my pocket. For you homeowners i’m not trying to make you feel bad but houses were never intended to be our(retirement fund) they were a place to live and raise a family. The banks have made it that they through RE can contol you as through intrest rate hikes. Its a casino and again the odds are in the favor of the banks house. Don’t buy into the lie, do your homework.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s