# WNY Real Estate **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [December 10, 2021, 5:52am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147 "2021-12-10T05:52:50Z")\ **Posts on this page:** 20\ **Page:** 21
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [September 27, 2023, 12:03am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/401 "2023-09-27T00:03:27Z")
Real estate related, lol: > Yes it’s real: > **[1100 S Ocean Blvd, Palm Beach, FL 33480 | Zillow](https://www.zillow.com/homedetails/1100-S-Ocean-Blvd-Palm-Beach-FL-33480/306155527_zpid/)** > > 1100 S Ocean Blvd, Palm Beach FL, is a Single Family home that contains 5061 sq ft and was built in 1927.It contains 58 bedrooms and 33 bathrooms.This home last sold for $12,000,000 in April 1995. > > The Zestimate for this Single Family is... ---
**Author:** ![ubengineering](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ubengineering/32/5171_2.png) [@ubengineering](https://forums.speedlife.net/u/ubengineering)\ **Post date:** [September 27, 2023, 1:25pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/402 "2023-09-27T13:25:05Z")
5,000 sq ft but 58 bedrooms. There has to be a typo somewhere. ![image](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/c/9/c9e9a13674f32f526a5d4082a40bbec44cdae0ab.png) ---
**Author:** ![drvnkd](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/drvnkd/32/109615_2.png) [@drvnkd](https://forums.speedlife.net/u/drvnkd)\ **Post date:** [September 27, 2023, 1:54pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/403 "2023-09-27T13:54:29Z")
I’m not sure how to take that. If a corrupt town devalued my property, wouldn’t my taxes go down drastically ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [September 28, 2023, 10:24am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/404 "2023-09-28T10:24:52Z")
> **[Real estate insiders bewildered by judge’s $18M valuation of Trump’s...](https://nypost.com/2023/09/27/donald-trumps-mar-a-lago-worth-at-least-300m-sources/)** > > Justice Arthur Engoron’s ruling raised eyebrows by valuing the former president’s Mar-a-Lago estate at $18 million when comparable lots nearby ask much more. ---
**Author:** ![drvnkd](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/drvnkd/32/109615_2.png) [@drvnkd](https://forums.speedlife.net/u/drvnkd)\ **Post date:** [October 5, 2023, 1:58am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/405 "2023-10-05T01:58:37Z")
Why is Canada so back assward with mortgages. I just learned that yooz guyz have to negotiate new mortgages every 5ish years and the interest calculation and amortization is also shitty. ---
**Author:** ![LUC1F3R](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/luc1f3r/32/7299_2.png) [@LUC1F3R](https://forums.speedlife.net/u/LUC1F3R)\ **Post date:** [October 5, 2023, 11:41am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/406 "2023-10-05T11:41:56Z")
I dont get how their economy wont completely collaspe with how high rates have gone ---
**Author:** ![ubengineering](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ubengineering/32/5171_2.png) [@ubengineering](https://forums.speedlife.net/u/ubengineering)\ **Post date:** [October 5, 2023, 12:51pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/407 "2023-10-05T12:51:39Z")
My good friend who’s Financial attorney and VP at Citi Group told me as long as people continue to take out debt, the economy will continue to grow and the gov’t can print as much money as they want. Even though cost of living is more unaffordable for people and continues to increase with wages remaining stagnant, as long as the average stupid person keeps taking out ridiculous lines of credit, nothing is going to crash my #2 best friend makes 20$ an hour and just bought a 2023 Colorado for 52 grand, after all payments are made he’ll be 75 grand into it. He says he will never pay it off, and in a couple years he’ll roll that loan over into another truck, forever making payments until he dies lol also shit like this keeps it going - ![image](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/0/c/0c7d4efc44f0cf453190e7ed7149636c6ac98899.png) There has to be consequences at some point but I do not work in finance I just keep saving my money waiting for something terrible to happen. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 5, 2023, 12:56pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/408 "2023-10-05T12:56:48Z")
there are a couple reasons canada hasnt totally collapsed yet. the banks are taking pretty large write-downs on individuals and commercial portfolios instead of forcing asset liquidations. the banks think it is better to take a $300k hit on some guys HELOC if he can then afford the new payments and doesnt have to sell and therefore doesnt have to flood the market with properties that will reduce the price of real estate. also, since we are all on 3-5 year terms you need the 3-5 years to fully cycle before feeling it. but then if the banks keep taking those write-downs (loss provisions for bad debt) then they can engineer a form of soft landing… unless they cant. i was at 2.99 and i renewed 10 months early to get 5.14 but because i paid off 1/3 and dont owe much my payment went down. my mortgage broker asked why i was renewing early for the 5.14 and i told him becuase it will be 7% by the time i renew otherwise. he didnt beleive be, but here we are. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 6, 2023, 3:52am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/409 "2023-10-06T03:52:46Z")
topical: > **[Mortgage renewals could cause severe downturn: analyst note - BNN Bloomberg](https://www.bnnbloomberg.ca/mortgage-renewals-could-cause-severe-downturn-analyst-note-1.1980876)** > > Upcoming mortgage renewals at high interest rate levels will potentially drive the Canadian economy into a more severe downturn than anticipated, according to analysts at Keefe, Bruyette & Woods. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [October 6, 2023, 11:08am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/410 "2023-10-06T11:08:51Z")
Didn’t know it was a thing until this > Currently, three major banks in Canada allow for negative amortizations in variable rate mortgage products, the analysts highlighted, including Bank of Montreal, Canadian Imperial Bank of Commerce and TD Bank. > > The analysts said balances for negative amortizations in variable rate mortgage products are $33 billion for the Bank of Montreal, $50 billion for CIBC and $46 billion for TD Bank. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 7, 2023, 3:52am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/411 "2023-10-07T03:52:22Z")
> might be about to break, maybe not. never seen this account before. i dont follow it but it showed up. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [October 8, 2023, 1:03pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/412 "2023-10-08T13:03:02Z")
lol Facebook. Not sure where this person lives ![20231008_090226](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/2/8/280a3f670cb53db5e2a5e3d3303051aedac490cb.png) ---
**Author:** ![ubengineering](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ubengineering/32/5171_2.png) [@ubengineering](https://forums.speedlife.net/u/ubengineering)\ **Post date:** [October 9, 2023, 3:00pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/413 "2023-10-09T15:00:36Z")
reverse image search that baby! ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 9, 2023, 5:32pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/414 "2023-10-09T17:32:17Z")
Heres a vid that verifies the post: [![](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/f/9/f90e57b28ba005ddb2970e494f59d7865a3898ae.jpeg "1 in 5 mortgages at major Canadian banks are negatively amortizing") ](https://www.youtube.com/watch?v=5qcw_Zg1djo) ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 10, 2023, 12:54am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/415 "2023-10-10T00:54:50Z")
So this is happening… this is 10 min from me. ![Screenshot_20231009_205355_HouseSigma](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/e/f/ef9381a18770698178f0975fa2a38276e62429e4.jpeg) ![Screenshot_20231009_205346_HouseSigma](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/6/4/64697f4fca99b3d62d5451b99dbb12ad0b3938b2.jpeg) Bought for 1250m and a year and a half later, after 2 fkailed deals, sells for 880k. 370k loss or 30% loss. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 10, 2023, 12:58am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/416 "2023-10-10T00:58:56Z")
Heres another one. ![Screenshot_20231009_205824_HouseSigma](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/c/3/c31de93dd7f92c71f450ce418c3f787b88d54f60.jpeg) ![Screenshot_20231009_205830_HouseSigma](https://canada1.discourse-cdn.com/flex034/uploads/speedlife/original/3X/d/e/de8268017136382b57308f32d8e42c853eb32174.jpeg) ---
**Author:** ![livin4hockey](https://avatars.discourse-cdn.com/v4/letter/l/d2c977/32.png) [@livin4hockey](https://forums.speedlife.net/u/livin4hockey)\ **Post date:** [October 10, 2023, 1:12am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/417 "2023-10-10T01:12:31Z")
Interesting, can’t say that I’m seeing that in my area. One house nearby me just sold and sellers were only there 2 years, still went for $52k more than they bought it for. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 10, 2023, 2:16am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/418 "2023-10-10T02:16:32Z")
it’s hit or miss. this just happens to be an option to search and get this data on a particular platform. what you are describing is also happenign up here. some goes above some go below asking and others, like these, are anomilies that may become slightly less anomolus. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [October 10, 2023, 3:20am UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/419 "2023-10-10T03:20:05Z")
> That is a pretty great twitter account. ---
**Author:** ![ubengineering](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ubengineering/32/5171_2.png) [@ubengineering](https://forums.speedlife.net/u/ubengineering)\ **Post date:** [October 10, 2023, 12:00pm UTC](https://forums.speedlife.net/t/wny-real-estate/1414147/420 "2023-10-10T12:00:40Z")
That house for 1.25 mil, I coudln’t fit my fucking motorcycle in that garage You get what you deserve [Previous page](https://forums.speedlife.net/t/wny-real-estate/1414147.md?page=20) [Next page](https://forums.speedlife.net/t/wny-real-estate/1414147.md?page=22)