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Oh, oh. The mainstream press is looking at fundamentals.
As regular readers of this page know, the investment case to buy a condo as a rent to hold asset is a losing proposition even at our historically low borrowing rates as demonstrated by my recent Vancouver Condo Case Study.
Now that we have bond yields zooming, the alternative to real estate term risk is to sell.
Sheryl King, Special to The Globe and Mail, July 2, 2013: "Prognosis grim for Toronto condo investors" makes some relevant points:
Full Globe & Mail Article here.
History, Charts & Curated Readings
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense