Our Phoenix RE market has to move up from here. (sale, HOA fees)

[Bates419]

I think you are stating this wrong. A Canadian selling a house in US dollars would be getting a 20% gain not a 20% hit.

Originally Posted by BestintheWest

another part of the equation here in the valley are Canadian investors/buyers/sellers. The current rate is
USD/CAD = 0.80600.

This means that a Canadian would sell their house here in US dollars and take a 20% hit, or buy here and pay an addition 20% based on their currency valuation.

I have several Canadian friends here and a good percentage want to sell but refuse to take a 20% hit on the exchange rate.

Hopefully not a trend
National Association of Home Builders released a report on Tuesday showing an unexpected deterioration in U.S. homebuilder confidence in the month of February.The report said the NAHB/Wells Fargo Housing Market Index dropped to 55 in February from 57 in January. The decrease came as a surprise to economists, who had expected the index to inch up to a reading of 58.

[sh9730]

Well, down here in Casa Grande the 55+ market still seems to be moving - though I cannot offer an comparisons from the past since I don't follow it that closely.

But Meritage homes is still building like crazy (relative to our city size) in the active adult community and D R Horton has been pretty steady on the single family front filling in some unfinished developments and is about to start on a new one that has 113 lots left. The "park model" business is pretty strong too in some of the newer mobile parks - although those are of course much smaller inexpensive houses, but they do bring in extra winter visitors.

CG issued about 250 SFR permits last year and expects to go over 300 this year - remember that is for a city of 50K full time residents - not too bad - adds about 500-1000 people a year.

But, like elsewhere I can attest that the resale market has been pretty flat both sales and price wise. Its not crashing or anything - but sales are just steady and prices are basically flat over the last few months. Good houses in good locations still go pretty quickly at a decent price - but anything "average" gets about that average price.

[Potential_Landlord]

Originally Posted by Bates419

I think you are stating this wrong. A Canadian selling a house in US dollars would be getting a 20% gain not a 20% hit.

But then they complain about the taxes on the gains You just can't win with some people.

[Wally Sconce]

Originally Posted by BestintheWest

another part of the equation here in the valley are Canadian investors/buyers/sellers. The current rate is
USD/CAD = 0.80600.

This means that a Canadian would sell their house here in US dollars and take a 20% hit, or buy here and pay an addition 20% based on their currency valuation.

I have several Canadian friends here and a good percentage want to sell but refuse to take a 20% hit on the exchange rate.

.

You got that bass ackwards. A Canadian selling their house would get about a 22% gain while trying to buy one would actually cost him 1.25 for each buck...that's why they ain't buying anymore. In 2011 Canadians got about 1.05 US for each CDN buck and the prices were 50 to 80% less.

Lot's of Canadians willing to sell but the market is too slow.

[Wally Sconce]

Originally Posted by Potential_Landlord

But then they complain about the taxes on the gains You just can't win with some people.

Oh and you willingly hand over your money to the government?

[Potential_Landlord]

Originally Posted by sh9730

Well, down here in Casa Grande the 55+ market still seems to be moving - though I cannot offer an comparisons from the past since I don't follow it that closely.

But Meritage homes is still building like crazy (relative to our city size) in the active adult community and D R Horton has been pretty steady on the single family front filling in some unfinished developments and is about to start on a new one that has 113 lots left. The "park model" business is pretty strong too in some of the newer mobile parks - although those are of course much smaller inexpensive houses, but they do bring in extra winter visitors.

CG issued about 250 SFR permits last year and expects to go over 300 this year - remember that is for a city of 50K full time residents - not too bad - adds about 500-1000 people a year.

But, like elsewhere I can attest that the resale market has been pretty flat both sales and price wise. Its not crashing or anything - but sales are just steady and prices are basically flat over the last few months. Good houses in good locations still go pretty quickly at a decent price - but anything "average" gets about that average price.

Thanks for your thoughts from CG.

[Potential_Landlord]

I'm not saying prices should or will explode like in the heydays of the housing boom or our recovery from the abysmal lows of the crash. But 5-10% growth this year I think are very reasonable.

[HX_Guy]

Originally Posted by Wally Sconce

Oh and you willingly hand over your money to the government?

Personally I have no problems with handing over money for taxes if I'm making $$$.

I never understood people who complain about "I paid sooo much in taxes this year". Um, that means you must have made a bunch of money, otherwise you wouldn't be paying that much. Want to not pay so many taxes? Make less money...which would you rather do?

[Wally Sconce]

Originally Posted by HX_Guy

Personally I have no problems with handing over money for taxes if I'm making $$$.

I never understood people who complain about "I paid sooo much in taxes this year". Um, that means you must have made a bunch of money, otherwise you wouldn't be paying that much. Want to not pay so many taxes? Make less money...which would you rather do?

Depends where you live, Taxes vary from country to country
Somebody who paid 100 000 for a house 4 years ago might get 200 000 for it now less fees and capital gains tax which could easily hit 40 or 50% in Canada. Renting it out for a long time can be a better option.

[ajonesaz]

Originally Posted by Munkie 098

Housing in America is way, way overpriced today. We have many Americans who are forced to go on Food Stamps and other Goverment programs due to overpriced Rents and Housing.
Cut the home prices and rents in half and we will not need so many Americans on Food Stamps.

Overpriced Housing is killing our economy as well since most earnings are allocated towards the rents and mortgage payments.

Rent and home prices are a free market, no one is going to come in and "cut" the prices. Guess what would happen if rent and home prices were cut in half? People would be buying houses double the size they are now. Too many people lack an understanding of basic economics. Part of the problem is people buying houses for what the bank will approve them for. People need to sit down and look at their own finances, and plan for the future. Live somewhere you can afford.