British Expats
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British Expats (https://britishexpats.com/forum/)
-   The Maple Leaf (https://britishexpats.com/forum/maple-leaf-98/)
-   -   PROPERTY VALUES AND INCOMES REQUIRED. (https://britishexpats.com/forum/maple-leaf-98/property-values-incomes-required-869272/)

Shard Dec 18th 2015 7:28 am
Re: PROPERTY VALUES AND INCOMES REQUIRED.
 
Originally Posted by MarkG (Post 11817050)
I know people who've been waiting over ten years for a crash in the UK so they could buy a decent place to live. Governments can follow insane policies for much longer than most people can afford to hold out.
Were they asleep 7 years ago (2008)...prices were down 20%.

scrubbedexpat091 Dec 18th 2015 8:38 am
Re: PROPERTY VALUES AND INCOMES REQUIRED.
 
Originally Posted by Eddmac (Post 11817161)
lol, I have read this too. It just means that we won't get interest on our savings (in fact may have to pay the bank for having our money there)

Mortgage interest rates would also come down a bit, but this leads to the risk of people maxing out now and then being crucified when the rates go back up again. I would always recommend building in some breathing space when getting a mortgage (I took a mortgage of about 3/4 of what I could have got).
I know other regions are cheaper, the issue is our income will decrease a great deal in Atlantic Canada or any province since each province has different rules and benefits for disability and still working on if we could survive and be any better off.

BC is pretty generous to the disabled compared to the other provinces, and while she is in remission right now, it's a cycle, and it's only a matter of time before she relapses and goes manic again, and that takes her out of commission on average for 6 months to 1 year work wise.

No matter what we do, we are still 3-5 years, so plenty of time to research and see if it's doable, it's just not easy to obtain information as provinces just can't tell you much without applying first, and well you can't apply for services until a resident of the new province, which does make planning a head difficult.

Bristol has sent a lot of info that has really helped, and it's all a work in progress. Nothing has been ruled out. We are taking a conservative approach and not rushing into anything.


Just have to figure out worst case scenario if we lose her income completely, if we could live off 11-12/hr average which seems to be the going rate for most of the jobs I could get from looking online at various job websites.

scrubbedexpat091 Dec 18th 2015 8:51 am
Re: PROPERTY VALUES AND INCOMES REQUIRED.
 
Originally Posted by Shard (Post 11817189)
Were they asleep 7 years ago (2008)...prices were down 20%.
How high were they though? A 20% in say Vancouver would still leave house prices insanely high. A 50% drop would still be averaging 500,000.

Shard Dec 18th 2015 9:07 am
Re: PROPERTY VALUES AND INCOMES REQUIRED.
 
Originally Posted by Jsmth321 (Post 11817235)
How high were they though? A 20% in say Vancouver would still leave house prices insanely high. A 50% drop would still be averaging 500,000.
Say £400K ($800K) back then. 50% drops are not going to happen.

scrubbedexpat091 Dec 18th 2015 9:13 am
Re: PROPERTY VALUES AND INCOMES REQUIRED.
 
Originally Posted by Shard (Post 11817240)
Say £400K ($800K) back then. 50% drops are not going to happen.
I agree it won't. Just even with so called crashes, some places have such high prices that even with the "crash" prices are still out of this world.


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