As a luxury home designer who is very close to the real estate market and designing homes specifically in the Kelowna-Okanagan area, I really appreciated your perspective and insights. Thank you!
This is really refreshing to hear the truth that every normal person already knew. I make 6-figures and have a meaningful 5-figure down payment ready and will not be able to buy a house.
it's called inflation, prices of all goods are going up. your gains are not realized till you sell and like he said you need to find your replacement quick. if youre just sitting in your house you are losing, your property taxes are going up along with your maintenance costs
Yup! What most people don't realize is their home is a Liability not an Asset. Its only an Assets at time of sale. Otherwise there are monthly expenses and depreciation as things age. Peoples Mortgages are an Asset for the Bank, not the homeowners. Even if you own the house outright, you still have taxes and maintenance. Its still taking money out of your pocket which is a Liability. Now there is nothing wrong with that. Our homes are not 'free'. Its part of the expense no matter where you live you have to put out in order to call something your home. But when Bankers and the Realtors misinform people about the definition of what an Asset is... it benefits them more.
@@chrisklugh If you watch George Gammon he points out that governments have shifted housing and instead of the house being the asset and the debt being the liability now the debt is the asset and the house is the liability. Debt taken now is worth a LOT later as Governments and Central banks flood the system with ever increasing amounts of cash to destroy their own debt.
@@rometimed1382 Hey, we made a discord server about BC real estate. If you are looking for a home, investment, or just want to learn more about real estate join our community. Here's the link:discord.gg/NTuZjZPDtt
True for entering the market but if your house appreciates 200k then you have additional money down and the market stays relative...or you can hold your money after the sale and wait for inventory to go back up (causing price corrections )over the next few months and rent a place due to the increase in short term occupancies due to lock downs. There is still lots of opportunity for home owners right now wanting to sell. Rent and time the market...
Nice to hear from an honest RE agent for a change.
As a luxury home designer who is very close to the real estate market and designing homes specifically in the Kelowna-Okanagan area, I really appreciated your perspective and insights. Thank you!
classic.. nice self promo.
@@mrc9099 Yeah she straight up shilling!
This is really refreshing to hear the truth that every normal person already knew. I make 6-figures and have a meaningful 5-figure down payment ready and will not be able to buy a house.
it's called inflation, prices of all goods are going up. your gains are not realized till you sell and like he said you need to find your replacement quick. if youre just sitting in your house you are losing, your property taxes are going up along with your maintenance costs
Yup!
What most people don't realize is their home is a Liability not an Asset. Its only an Assets at time of sale. Otherwise there are monthly expenses and depreciation as things age. Peoples Mortgages are an Asset for the Bank, not the homeowners.
Even if you own the house outright, you still have taxes and maintenance. Its still taking money out of your pocket which is a Liability.
Now there is nothing wrong with that. Our homes are not 'free'. Its part of the expense no matter where you live you have to put out in order to call something your home. But when Bankers and the Realtors misinform people about the definition of what an Asset is... it benefits them more.
@@chrisklugh If you watch George Gammon he points out that governments have shifted housing and instead of the house being the asset and the debt being the liability now the debt is the asset and the house is the liability. Debt taken now is worth a LOT later as Governments and Central banks flood the system with ever increasing amounts of cash to destroy their own debt.
@@rometimed1382 Hey, we made a discord server about BC real estate. If you are looking for a home, investment, or just want to learn more about real estate join our community. Here's the link:discord.gg/NTuZjZPDtt
Your lucky your not in New Zealand ! House prices have risen by 25 to 40 % in 6 to 12 months depending where you are living !
Straight shooter, he's good.
The Bubbles going to pop soon!
👍
A glorified subdivision of Vancouver. "Surrey on the lake"
True for entering the market but if your house appreciates 200k then you have additional money down and the market stays relative...or you can hold your money after the sale and wait for inventory to go back up (causing price corrections )over the next few months and rent a place due to the increase in short term occupancies due to lock downs. There is still lots of opportunity for home owners right now wanting to sell. Rent and time the market...