housing in a bubble

Toronto, 2014.08.21

When your kids are too big an noisy for your apartment, but the housing market's gone bubbly, you must ride it out. Or so it's looking. Some friends live in a house up the street that they bought for $150,000 in the 90's. Across the street, a house just sold for $2,000,000. Also on our street, a dilapidated two-unit rental building was listed for $640,000 (who knows what it sold for). Knowing what the rental income is for the units, I can't figure out how the buyer expects it to pay!

Something tells me this isn't the time to buy.

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rand()m quote

(In which I leave the final word to someone else.)

Naturally the common people don't want war: Neither in Russia, nor in England, nor for that matter in Germany. That is understood. But, after all, it is the leaders of the country who determine the policy and it is always a simple matter to drag the people along, whether it is a democracy, or a fascist dictatorship, or a parliament, or a communist dictatorship. Voice or no voice, the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked, and denounce the peacemakers for lack of patriotism and exposing the country to danger. It works the same in any country.

-Hermann Goering