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Indeed, employment is soaring. Car sales are soaring. Real Estate is absolutely bananas. Texas rangers opened its whole stadium to 40,000. And we are getting the vaccine out. The “K” is working its magic. The top part is doing more than good, the bottom more than bad. We are muddling thru, but there will be rough patches. So far, the vast amount (unimaginable) of money both here and coming, helps all.
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Its not fair to make me comment on another forecaster.
Forecasting is never easy particularly when it is about the future.
Note:- Mr. Dent wrote the “Depression of 2010” in 2009.
- Mr. Rosenberg (who I like) wrote
On Real Estate in 2017
https://financialpost.com/investing/david-rosenberg-make-no-mistake-the-toronto-real-estate-is-in-a-bubble-of-historic-proportions
On stocks in 2017
https://www.cnbc.com/2017/04/28/economist-david-rosenberg-a-day-of-reckoning-is-coming.htmlI am sure you can find some quotes from me that were wrong (likely on higher interest rates which did not happen – but NEVER on higher real estate prices).
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I guess, I cannot get away from any and all questions. I keep saying, ask me about real estate… But, first it was a number of stocks, not just Viacom. Second, it did (seemingly) not affect the actual companies. Third the ‘one guy’ owns Archegos (Arch Egos?) a Mr. Bill Hwang ( I assume you mean) lost billions, fourth, it is one hell of a wake-up call for all of the players. Fifth, the SEC will step in.
A great Movie to watch is “Margin Call”. Yes, everyone likes “The Big Short”, but, in this movie…all the players knew what goes on all the time. The solution? Be first out!
Make wrong bets yes: But it is the first one out of the door…that wins. In this case Goldman and other big boys. The late comers took billions in losses. Credit Swiss over $5 billion etc. Finally – to your question: There is never just one cockroach.- 14 views
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The speeches that I make from Jurock Publishing or Land rush or Outlook conferences, tickets can be bought (next one September). Speeches I make on behalf of other companies (9 this month) are paid by those companies and no outsider can listen in. You can hire me though….Here.
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Indeed. Canada could:
1. Increase down payments
2. Lower amortization times (from 25 to 20 years)
3. Raise stress tests
4. Bring in capital gains tax on all real estate: Hong Kong style … sell in 1st year – tax 50%, 2nd year 35%, 3rd year 15% etc.Rest of the world?
New Zealand: Raises down payments for investment real estate to 40%!
As of May, most buyers who plan to live in their home will be required to provide a down payment of 20 per cent. Investors will need to put down 40 per cent.China to slow lending: Larger state banks are required to limit their outstanding property lending and mortgages to 40 percent and 32.5 percent of their total loans.
China DP on first house 25% on second house 40%. In some areas that overheated its markets…DP are as much as 60%.
Funny, yet not really: Chinese authorities crack down on ‘fake’ divorces.
Since in some areas, second homes are not allowed some Chinese fake divorces to get to buy 2 properties!- 13 views
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What? Right now? No way, our market is on fire because of the most unreported inflation in hard assets OF ALL TIME! As is the whole world!
Read Ozbuzz 39 to 42. Or go to YouTube and see my clips from 12 years ago on this…or listen to every Landrush conference CD since 1998. It is not ‘Asians’, it is Canadians! Oh, and you just think this view is new: Look at this:The new wave from Asia? This is the FNANCIAL POST from March 12, 1989. Nuff said.
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First. Ozbuzz is not about advice. We are just chatting, and I may or may not share my opinion on the world and things. Advice you need to take from your financial officers, bankers, realtors, and lawyers (see disclaimer below).
Also, I like commercial and industrial real estate. Rents cannot be frozen. I also like cashflow real estate best. But this kind of question is impossible to answer.- You never buy the market. You buy a specific property in a specific area for a specific purpose.
- Warehouses maybe a good investment, but it may not have the 6-foot ramp (for delivery) it requires (in your area), maybe in a hard to get to place in the complex.
- You seem to want to put down $100,000 on a $1.1 million investment – hard to finance that scenario,
- You do not say what rental income, how long the tenant’s leases etc., etc. Is it a AAA tenant etc. Impossible question.
DO: have your realtor analyze all sales in the area, look at every listing, analyze income and expenses and see a real estate-oriented lawyer. If you worry abut your wife…involve her!
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Help with filling out your mortgage application? The broker only asks what the bank or financial institution wants of him/her. Right now, the requirements to get a mortgage are nuts! Just do it: This goes for everybody:
- Get your T4s and T1s for the last 2 years (at least) in order.
- Get your lease agreement or your purchase agreement including disclosure statements.
- Get your rental properties income and mortgage statements.
- Get your bank statements for 3 months (for down payment proof).
- Get a list from your broker (or go online and fill out forms of mortgage brokers…to understand all you need and why).
We may have low interest rates but qualifying is harder than ever…and will get worse.
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Yes. Big time… After we get through the spring / maybe summer. In my Inner Circle … we spend a lot of time getting ready.
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