Ozzie Jurock's Profile
Guru
1190
Points

Questions
1

Answers
112

  • Guru Asked on June 18, 2020 in Real Estate.

    Well, I ran a construction management company in Taiwan. Taiwan sees itself as the rightful “all China” government for all of China (that is why there is one island, but 3 levels of government). The repatriation of the ‘renegade provinces’ remains a long term – never to be forgotten – goal of Mainland China. When (the old) Trudeau kicked Taiwan out of the UN, he set in motion the possibility of re-unification. The new Trudeau is placating China just like the old Trudeau. The real surprise? China is going after India NOW. Long-term after Africa. The west has been placated and has been kowtowing to China for 20 years. Since Trump does not, XI is taking the gloves off – for all to see. The West is now seen as fragmented and weak.

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  • Guru Asked on June 18, 2020 in Real Estate.

    Well, then you cannot buy on the Westside now. A “deal of a lifetime” is well below market, usually a purchase of someone that’s in distress, or carries financing…and it is sooo good … you can’t help yourself. I salute you that you are looking. In life you do not get what you deserve, you get what you negotiate.

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  • Guru Asked on June 18, 2020 in Real Estate.

    I like California beaches, its cruise ship ports, driving through it … I dislike its people, its totally left attitudes. However, it is not about like or not like. Right now, you don’t want to be in high tech states. People are feeling and resenting high real estate prices, companies are relocating to Texas and Arizona in droves because cost of employees is so much better … and people will look for lifestyles.

    Several comments on the big ideas… Looking at cars right now…will try ads on Twitter…stink bids…asking for a car with my condo…working on my mind. Happy you are…

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  • Guru Asked on June 18, 2020 in Real Estate.

    Your view is important – for you. But understand this: when a company goes into chapter 11 it is re-organizing, getting rid of a lot of creditors and have a judge wipe out a lot of debt. Then it – like Phoenix from the ashes – re-emerges. That is not really a bankruptcy. Chapter 7 is going out of business for good. So, if you are worried, look at the “bankruptcy” closer: Chapter 7 or chapter 11? If they are all chapter 11 … fewer worries.

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  • Guru Asked on June 18, 2020 in Real Estate.

    Yes, I think that in the long-term hard assets will go up (even Rosenberg says buy real estate). However, we may have solved a financial crisis. But that is not the issue now. We have created a solvency crisis and we are FAR FAR from having solved that one.

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  • Guru Asked on June 18, 2020 in Real Estate.

    Duh! Yes! Of course. I have been bullish for 45 years, but could I have been wrong – of course. Any past crisis could have resulted in a different outcome. I just believe that we will muddle through and the printed money will result in higher asset prices. I also am NOT bullish on all real estate. I am warning outright for years not to buy hotel condos, timeshare, quarter share, Phase II ski condos, etc. I also recommend that you only buy the deal of a lifetime now, until the outcome is clear. (see next question)

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  • Guru Asked on June 18, 2020 in Real Estate.

    Do not worry about cash right now. I think in mid to late 2020 the question is Not what you own but what you do not own! Read that again!

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  • Guru Asked on June 18, 2020 in Real Estate.

    You know how I feel about people that start with: “You must agree…”. I must do no such thing. Apart from the fact that the market dropped 30% and more first … 4 or 5 stocks are representing 20 percent of the stock market. Program buying and selling, day trading rules and derivatives abound. Trillions. It is the last place I want to be. But I salute you if you sold on March 22 and then bought back on March 30!

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  • Guru Asked on June 18, 2020 in Real Estate.

    I currently own no real estate (other than one building lot) and not flogging any either. Ok, I see so many people in the interior renting. Yet, you can buy an older ski condo under $100,000 on the hill, (I started recommending them when they were $55,000), fully furnished and with balcony and FP. I think it would be a fine investment for a young couple with $5000 down? They should not be renting. Also, did you ever hear of skiing, golfing and river rafting, lake fishing? And then no parking meters! I love the place…yes. But the same applies to Fernie and a half dozen other hills.

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  • Guru Asked on June 18, 2020 in Real Estate.

    I would think, Vancouver Island like Parksville or the Sunshine Coast as well as the Kootenays (price) etc. Millennials want to be where the action is and most of the jobs are in town. They are also less likely to drive. Tons of questions on gold silver and bitcoin. I mean tons!

    Your reference to buying gold jewelry and not bullion is stupid.

    • If you do not understand bitcoin – you understand nothing 
    • Silver and gold have had the greatest appreciation in history – ever…
    • Some nasty. (deleted and blocked.) If you are a gold bug you expect trouble…and here I was even recommending gold…but jewelry obviously is not acceptable…

    Ok answer:

    1. I do not recollect talking ‘bitcoin’ in the last 3 issues.

    Yes, I have real estate engraved on my forehead. Why? Read Ozbuzz 39-43.
    Can’t be any clearer…it is my hard asset of choice, it has an unquestioned history of performance, 50% of your payments go to building equity (forced savings account) but…most of all it has leverage.

    •  Had you invested $100,000 and paid $800 an ounce for gold in 1980 – it then floundered around under $800 an ounce for 27 years and finally got back to $800 in 2007. Since then it has doubled. Good.

    Had you bought a house in Vancouver for $100,000 in 1980 it has now grown to $1.7 million. Not only that you would have paid it off in 2005 and since you likely only paid down $5,000 your return on your DP was in the 100000 percentages. Leverage!

    1. Having said that, I tried to say that there may be a place for gold now… But if you think the world is going to end and put your gold into a savings box at your bank and/or your house ask yourself…. Who is to say that the bank will not stop access by law to your box and someone with a gun and you without one takes your gold? Oh, and going over a border it could be confiscated – must be declared. (Remember we are talking about you: the end of the world kind of guy or girl!).
    1. SOOO, in that case only…(end of world) get your gold in high gold containing jewelry – easy to get over the border, do not need to declare…and you can distribute it amongst you and yours. Some of the world’s biggest countries with difficult (often treacherous) governments have seen their populace embracing gold jewelry, (India, Iran etc.etc.) That is it. So now, to the question: I am sure you own gold…No, I do not…but I still may buy some. My decision.
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