People are crying…and complaining about how they’re in “financial ruin” because of the Toronto Housing Bubble.
Some of ‘em bought pre-built homes at the market’s peak last year.
GREEDY…thinking they’d be able to sell their current home for MASSIVE dollars.
This is called SPECULATION.
It’s NOT called “investing”.
Sorry.
But I don’t feel sorry for them.
This is the kinda stuff that gets real estate investors into trouble.
By letting the almighty dollar LEAD their decisions.
Like I’ve always said
if you make decisions based on money, you’ll wind up paying MORE for those decisions in the end
Somethin’ like that.
So who do these buyers blame for the Toronto Housing Bubble mess?
> The government.
> The home builders.
> The province.
EVERYONE else but themselves.
Housing Minister Peter Milcyzn said:
The housing market is complex, and home prices will inevitably go up and down based on a number of factors. The aim of the Fair Housing Plan is to keep housing fair and affordable for as many people as possible throughout market fluctuations.
In other words, real estate goes up, and it goes down.
I’m a simple dude, so politics ain’t my game.
And, I really DON’T CARE what the government does because I play the ‘adjustment’ game.
You don’t have to agree with my madness.
But it’s how I’m able to live a stress-free life.
I find SO MANY people living their lives based on what EVERYONE else does.
Including governments.
It’s up to you.
If you want to vote, protest, or whatever – it’s your right.
But when it comes to real estate investing…DON’T be greedy and let money make your decisions.
Listen, I’m not saying 100% of these people are to blame…I’m sure someone was screwed somewhere along the line.
Perhaps a greedy realtor, or salesperson…
…but let’s call out the elephant in the room.
Our decisions are OUR decisions.
And yes, MONEY gets in the way a lot of times.
That’s why since DAY ONE, back in 2008, I used simple spreadsheets that GUIDE me to make the best decisions on what I should and should NOT buy.
Believe me, there are times when I wanted to change the data to “make it work.”
But then I caught myself.
“Joey, WHAT are you doing? These spreadsheets are designed to save your as% in the future”
Thank God I listened to myself 🙂
You can get your own copy of the spreadsheets here.
– Joey
*photo credit – Toronto Star – David Cooper