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Post by John B on Sept 20, 2003 16:14:42 GMT -5
If you are thinking about buying a house in the Okanagon ,wait for a year or two and save 30% or more. You have all heard of the Tech bubble,,well now we are looking at the Real Estate bubble.. The experts,Greenspan included ,have been warning about this for months. There are people now that are selling their houses at the top and renting for a year or two,,only to buy back much cheaper.. A house is one the largest investments you will make in your lifetime.. It is well worth it to save a hundred thousand dollars or a lot more .. Interest rates are at record lows.. They can only go up and they will.. John
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Post by Linda Louise on Sept 20, 2003 19:05:00 GMT -5
My parents nearly bought a house in the Mission in early July and probably would have if it wasn`t for the sleasy realator they were dealing with. Thank goodness they did not buy!!! Are there any honest realators in Kelowna.? They were so turned off by their experiance they are staying put in Calgary for now. LL
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Post by John B on Sept 20, 2003 20:52:03 GMT -5
Your parents can count their lucky stars they didn`t buy that house. The Mission area isn`t exactly a very diserable place to live right now because of the fire. I would also think that there will now be a danger of mud slides in some areas. Honest realators? That is a tough question. I have some friends that bought a house last year in Westbank and were lied to on several occasions. You really have to be careful with some of these people. John
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Rorrie
Junior Member
Posts: 40
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Post by Rorrie on Sept 20, 2003 21:14:51 GMT -5
Well I wish I had YOUR crystal ball! How are you so "informed"?
If you look back into history, Real Estate has always followed a 7 year cycle. In 1992 and to the end of 1993 we were on the "top" of the market. Then it started to go down........we SHOULD have started our "upswing" in the market in 2001...........however with everything going on it didn't start. 9/11 was a huge factor.
We are now finally into the start of another 7 year cycle. So for you that don't want to jump into the market now............well you are going to be waiting a loooooooong time. Keep renting! The landlords love having their mortgage paid for.
Before you start talking nonsense.............wipe off that crystal ball so you can see a little clearer.
Like I tell my kids, Do your HOMEWORK!
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