http://www.crackshackormansion.com/

:P

http://www.raywj.com/...t-growing-operation-evah/

completely unrelated to my post! Also that's nothing special compared to what goes on around here tbh.

How is it completely unrelated, that was one of the houses that showed up in the game.......... ...... ..................................................................................................................................................

touchee :P

I expect a handwritten apology. Right after you're finished double checking as you still dont believe me.

i got 8 out of 16

Didn't need to double check, I realized I had seen it after you mentioned it:P

oh yeah, didn't you know that mods never apologize? :P j/k

Got 11 out of 16. I could fluff out better looking houses

I got 7 out 16.
FAILURE IS WIN!

5 -16
anyone got a ocean view house in arizona for sale?

$1mil doesn't buy much in Sydney either, if you look close to the city :p

12 right :%

yea, how expensive houses are in vancouver is quite disgusting. glad houses in hamilton are only 200k for a 5 bedroom house

Houses in calgary are getting retarded to. My generation will never be able to afford houses. with the average house price in calgary being 450k i cant afford a mortgage.

as a financial investment, property in general is a poor choice, condos are a horrible choice. It's better to rent and put the different into stocks/bonds. You come out further ahead in the end (simple spreadsheet will show you that over a 40 year mortgage you pay more than the value of the property in interest to the bank).

People who profit are generally just lucky for the most part in terms of timing.

As far as hammerton goes: a quick search reveals that houses tend to start at around $250,000 (and they are quite dilapidated). Maybe you mean rural areas outside of hammerton.

Nice try though

Martian, it's also worth arguing that at "standard" rates on a 30-year mortgage, if you're financially able to make double payments on the property, you'll have it paid off in approximately 6 years.

Oh, also, you can't get anything more than a literal one-room shack for about a quarter million around here. Goddamn tourists.

in order to pay off a $300,000 mortgage in 6 years with a 3% rate (fixed) you would need to pay: 4,558 per month.
Meaning that your pre tax income would have to be $85,000 and you would be putting your entire income into the mortgage!

for a 30 year mortgage fixed (not possible but lets assume) your monthly payments would be: $1,265
so you need to pay much more than double to reduce a 30 year mortgage down to 6.
These are very generous conditions btw.

(I'm excluding all the other fees)

by comparisson: my rent on a 1 bedroom apartment is about $1000 including utilities. Now lets say that utils are $100/month. Maintanance is $50/month and prop taxes at $100/month (much less than they would be)
then the diference between rent vs purchase is$465/month
If I invest the $465/month at 5% (easy) over 30 years I get to a total of: 387,000

To break even the house would have to sell for $300,000+387,000+$155,000 =842,000 meaning that property values would have to go up by an average of 12%/year over 30 years.

Note that I am setting conditions that are very generous to the house. I can get better investment rates AND the expenses associated with the house are somewhat higher than what I stated.

11 / 16

fook that man. an expensive house round here is maybe 4 bedroom with 3 acres all for under 400k

That's gotta be a joke right? Those puny little houses sell for over a million bucks? They are nice alright, but hardly a "mansion" in size or quality.

martian I'm confused. At quick glance you are saying by renting you will have $387,000 in savings in 30 years. Wouldn't a 300k house today need to sell for just $387,000 in 30 years then in order for purchasing the house to be worth it. Where are the 300k and 155k coming from?

also I have to argue that the one house is both crackhouse and mansion heh (the one KJ also linked to)...

I believe that is called Micksters law. Kinda like Moores law, except where the size of a mods ego doubles for every year he gets to live la vida italica.

;p

Ah yes, once again Canadians lag about 4 years behind America. Whenever somebody answers the question ;Is this just a bubble?' with the answer 'No, this time its different!'

- time to sell.

So you Souther Ontarionites quickly forgot that houses arent the best places for grow ops!

http://www.thebarrieexaminer.com/...=2798694&archive=true