- Joined
- Sep 3, 2007
- Messages
- 16
Hi All:
I know the last REIN meeting was all about ignoring, or at least taking with a grain of salt, the effect that the sub-prime crisis will have on real estate, but...it does get a little scary when you have colleagues who are selling all their real estate awaiting problems to hit the Canadian Market. Even if the subprime is not as huge a deal as the media is claiming, if people are beginning to get in fear about their investments both stocks and real estate how can that not have a huge impact on our economy. I bought property in Cambridge with a negative cashflow with equity in mind. But...what if I have to ride out a recession that could be several years before I break even and then another few years for my property to rise in prices. Not wanting to be doom and gloomy but I lost 1/3 of my mutual fund investments in the 90`s and trying this time to have some foresight. Is it better to wait and see how much prices are going to drop before getting back into the market? Would appreciate some insight into this especially from some veteran investors.
Thanks Vivian Clement
I know the last REIN meeting was all about ignoring, or at least taking with a grain of salt, the effect that the sub-prime crisis will have on real estate, but...it does get a little scary when you have colleagues who are selling all their real estate awaiting problems to hit the Canadian Market. Even if the subprime is not as huge a deal as the media is claiming, if people are beginning to get in fear about their investments both stocks and real estate how can that not have a huge impact on our economy. I bought property in Cambridge with a negative cashflow with equity in mind. But...what if I have to ride out a recession that could be several years before I break even and then another few years for my property to rise in prices. Not wanting to be doom and gloomy but I lost 1/3 of my mutual fund investments in the 90`s and trying this time to have some foresight. Is it better to wait and see how much prices are going to drop before getting back into the market? Would appreciate some insight into this especially from some veteran investors.
Thanks Vivian Clement