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Strategies & Market Trends : Technical analysis for shorts & longs

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To: robert b furman who wrote (47859)	5/3/2012 8:12:06 AM
From: Cogito Ergo Sum	Read Replies (2) of 69606

I bought my first house in Toronto for 97K.. (1986-87.. cannot remember exactly :o) (Town home self managed condo).. at one point it was appraised at 250K about three years later, the first bubble I was in. I sold @ 169k, still a nice profit and bought a single family home, nice neighbourhood, large lot for Toronto.. I paid 199K.. The folks I bought it from had paid 319K...We don't need subprime for bubbles LOL BTW Our CMHC (Fannie approximation) was pretty solid back then.. My first home was purchased with 10K down and CHMC backed.. so I paid a mortgage insurance premium.. As soon as I had enough equity paid down relative to mortgage value I lost the need for the CMHC on the townhome.. (2 years).. We are bubbly again but it has been less speculative.. When I bought my first home there was constant press and almost hourly updates on the housing market on radio... Every corner had assorted real estate mags.. folks were buying two or three homes to flip within months. or weeks even.. speculation was rampant.. it was like tech in the late nineties.. Demographics have changed the picture this go.. lots more condo apartments.. That is where the speculation is.. from flippers, baby boomers downsizing and foreign money.. I was prepared to buy a condo for my daughter as a financial planning vehicle to rent but I am waiting for a rollover :O) Hope I am right.. :O) Oh BTW my current home, modest for my neighbourhood is appraised at about 500K.. but that could be 300K in a few months LOL

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