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A comment on If you sell a house these days, the buyer might be a pension fund. Parent comment

Re:If you sell a house these days, the buyer might be a pens... by beiller on Wednesday June 09, 2021 @06:38PM (#27454221)
Same in Canada. I am in the top 3% of wage earners in the entire country and can not "afford" to buy. Average price is > 1 million. At > 1 million, a 20% down payment is required in cash. That would basically take my well balanced portfolio into pure real estate holdings not to mention a massive tax hit to sell 200k+ of my portfolio. I used quotes in afford because I could afford it, but I feel it would be a huge mistake
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Re:If you sell a house these days, the buyer might be a pens... by nthtoss on Wednesday June 09, 2021 @10:29PM (#27456051)
Similar story here. We modified our expectations and bought a smaller home AND kept the well balanced portfolio. So far so good.
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Re:If you sell a house these days, the buyer might be a pens... by refurb on Wednesday June 09, 2021 @08:33PM (#27455299)
Sounds like you need to grow balls like your fellow Canadians and go “all in”. Most folks I know buying throw every dollar they have into a house plus a hundred thousand from the bank of mom and dad.

You’ll never be able to afford unless you do it.

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Re:If you sell a house these days, the buyer might be a pens... by beiller on Wednesday June 09, 2021 @09:29PM (#27455701)
I'll stick with never. Rents keep dropping. It's almost like it's... pure speculation with no fundamentals. Surely that can't be the case, otherwise rents would keep dropping! Oh no!
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Re:If you sell a house these days, the buyer might be a pens... by itwy on Wednesday June 09, 2021 @09:59PM (#27455885)
Rent is not dropping. It is going up, rapidly.
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Re:If you sell a house these days, the buyer might be a pens... by beiller on Thursday June 10, 2021 @10:54AM (#27461464)
Oh you checked the numbers for me? Oh darn. If rent is rapidly going up and purchasing is more and more impossible, I guess the only natural conclusion is everyone making mid six figures will all be unable to live in homes any more. Maybe even homeless? I should probably just drop out.
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