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Strategies & Market Trends : Strictly: Drilling II
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To: Davy Crockett who wrote (5366)12/13/2001 11:35:25 PM
From: Cogito Ergo Sum  Read Replies (2) of 36161
 
Hi Peter,
If I may butt in on one little segment. (it's been 9 years since I butted out ;o)

not real estate)
Let me preface this with owner occupied home....
I think that depends more (for the regular joe like me) on the size of the mortgage. In my case I have 3-5 years to go depending on what I think is best. Alternatively I could just take over my mortgage in my RRSP, give myself flexible terms and charge myself the highest legal interest rate to also maximize the RRSP. If, make that WHEN, I decide to move to the country all prices will be depressed in a deflationary scenario so if I'm only looking to replace one domicile with another on a relative valuation I should be fine ? The alternative is to sell the house and rent ? I know that's frank's plan now but he has the advantage of being in Edmonton where an oil bust is likely to ensue, so the deck is stacked in his favour.
A second point. As I'm sure you are aware here in Toronto the rental market is very tight as it was when I bought my first home. It is cost effective here to purchase as opposed to rent. All else being equal a home owner will be left with more than a renter. In areas where rentals are abundant of course this is untrue.

regards
Kastel
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