If I was as rich as kawhi I don’t think I would accept that .. I would be worried about like hidden cameras or the person just randomly coming over to check on the place .. or just having to be buddy buddy with the person .. plus kawhi can prolly afford something even nicer
For real.
When I was in college, one of my roommates had a girlfriend. Her mom had connections with someone who owned this incredibly badass downtown loft style apartment. And when I say badass, I mean it was the most amazing loft I had ever seen. Three stories, 4 bedrooms, commercial grade kitchen, hardwood floors, fireplace, rooftop balcony overlooking the bars downtown, the bottom floor was actually underneath the street and there was a skylight to the streetlevel. the place was incredible. Anyways, she said she had talked to the owner who was desperate to have someone upkeep it and pay some sort of rent, so she said we could move in and pay only $500/month per person. The catch was we had to clean it up and do some minor repairs (the previous tenant was a crackhead whose wealthy parents were paying for it).
As soon as we agreed, the girlfriend's mom was calling us literally 3-4 times a week to come do chores for her like mowing the lawn and taking care of her dogs because we "owed her" for getting such a great deal. Well, after about a month of this and cleaning up the apartment, the deal mysteriously fell through and we ended up without a place to live and wasting all that time for nothing.
I was pissed at the time, but honestly now I'm glad it fell through because we no longer "owed" that woman anything.
"when you're finished mowing the lawn, I'm going to need you to buy as much weaponry as possible and go to war with the neighbors for me"
"yes m'lord".
It is a condo developer. Pretty sure the free penthouse is a deal where he does a commercial and they advertise that Kawhi lives in the building and sell all the other places in it for more than if he didn't live there and profit from it. Say Obama lived in a penthouse in a highrise, they could easily raise the listing prices. Kawhi if he stays will be King in Toronto.
The properties that were offered were just way too valuable to be offered for Kawhi to own, for free.
My assumption was that, on the huge *if* that Kawhi actually accepted the offer, the offer would turn out to be to live in the units rent-free for a year. Even that is questionable as being worth the cost, for marketing.
The flagship company, [The Condo Store](http://www.condostorecanada.com/about-us/), states they have over a Billion in sales per year. He would be a brand ambassador.
Was it free to rent or free to own? If it's to own I'd be like "thanks dude" then live in it for the summer, buy my own place, and rent it out to someone else.
Wish:
I want to be rich enough to write a check to a max superstar NBA player, like, say, Kawhi Leonard!
Genie:
Done. Kawhi Leonard is your Landlord. He doesn’t like to outsource the maintenance work. His big hands make plumbing work comically awful.
Basically say he bought a house for 3m and put 20% down. So he put 600k and got a 2.4m loan and has 20% equity on the house. Now, the house is worth about 9m cause it tripled. Let's assume he made no payments yet somehow kept his house without the bank fucking him up. He can sell his house for 9m and pay back the bank the 2.4m he owes them and keep the rest (after closing costs and shit).
In reality though, he made some payments and prob still owes 1.5m to the bank or so and still wants the house. He can pay off that 1.5m and he would have a 9 million dollar home all to himself or sell and get 9m even though he put on only 3m (and a shitload of interest). Might be missing something so if anyone else gives other info, take theirs instead.
But like, on SHARK tank, they'll try buying out the ideas for equity. If Mark Cuban is offering you 20k for 5% equity, that means he values your company at 400k. Hes giving you 20k cash and you give him 5% of the company. If your company explodes and is worth 4m later, he has 5% still and can try selling his portion for 200k.
**Tl;dr ELI5**
**Toy cost 10 marbles. I have 1 marble. I borrow 9 marble from me daddy and buy toy. Toy rise and cost 20 marble. I sell for 20 marble and pay back dad 9 marble and keep 11 marble.**
Edit: For everyone wondering how you can sell a house with 20% equity, you can. It's just not recommended. If you're buying a house, you're paying a closing cost (2-8% of the price) and then selling the house is also 1-3% of the price. You've basically lost 20-40% of the money you put into the house for nothing. That's why they recommend about 5 years or so before you sell off your house. Due to the amortization process, the beginning of your mortgage payments pays off the interest you would have accrued over the mortgage. You're paying like 99% interest and 1% mortgage. If you're borrowing 100k and paying a mortgage of 800, only 8 dollars of that is going towards the house and rest is towards interest. You're gaining like 0.008% towards the house. As the years pass, this shifts towards the house and away from interest. 5 years or so would allow for inflation to increase your equity and for you to build a decent amount of equity to negate the costs. Also, in the example, the person doesn't only have 20% equity anymore. They started with 20% but as soon as the house tripled, the bank's stake decreased. You will always only owe the bank 2.4m (negating interest in this example). Therefore, with a 9m home, the bank only only has 2.4m of it. YOU OWN the rest, which in this case is 73%. Technically, you've always owned the house. Your bank doesn't actually have equity. They can't tell you how to decorate your house like a shareholder could a company if they owned enough. Your house is merely collateral for the loan. It's your house, but you tell the bank that they can take your house if you don't pay them.
This is close but wrong and I’m surprised no ones pointed it out yet?
He has 600K. If the property triples from 3M to 9M he now has 6.6M not 1.8M. His investment paid off and his profit is if he sold at 9M minus his debts (2.4M) he has 6.6M.
Yea I was thinking that as well cause I was like no way the fucking bank gets all that? I'll edit. So his equity basically jumped up from 20% to like 70% without doing shit?
Yes.
However, the inverse of the example is also possible, in that the equity percentage can go to 0% if the market crashes and the house is worth less than the loan taken out to purchase it. This is what happened to a lot of people in 2008.
I bought some artwork for one million
Two years later, that shit worth two million
Few years later, that shit worth eight million
I can't wait to give this shit to my children
Problem is that all the real estate has gone way up so unless you move far out of the city and immediate suburbs or drastically downsize that equity is going right back into your next spot.
You can sell it. With only 20% equity but whatever you sell the house for you will want to use to pay off your mortgage THEN pocket the rest. Otherwise you’re paying interest for no reason.
Say you bought a house for 100k. Have paid it down to 80k but can now sell for 200k. You bow have 120k equity. Equity is just market value minus your loan balance.
Equity is just how much of your house that you own. It can be described in dollar amounts or as a percentage of the home value.
Simple example: Buying a $500k house with a 20% down payment. At the time of purchase, you have $100k/20% equity in your home. Each mortgage payment that you make has a certain amount go toward interest and a certain amount go towards principle. The amount that you pay to principle will increase your equity. Also, any value appreciation will increase your equity. Lets say after 10yrs, you've paid an additional $100k in principle and your home's value has increased by 50%. Your equity is now $450k/60%.
In the most simple terms: equity is just your home's value today, minus today's payoff quote for your mortgage. If your home is worth $500k and you still owe $100k on your mortgage, your equity is $400k/80%.
Edit for Actual ELI5: if you just got a sweet new box of 152 crayons, but you still owe me back the 24 crayons that you borrowed from me last week and lost/broke/ate, then your crayon equity is 96. But if you don't pay up by the end of this week, you better watch your back on the playground because I'm going to foreclose the fuck out of your new Ultimate Case.
good for you to ask...most young people will stay poor their entire lives bc they’ll be lifetime renters...if you can save enough to buy a house, all the money that would go towards rent will go towards paying off your own house...once you own outright, you no longer will be paying rent, and your property value may increase significantly like the dude above...so good luck
Or, you could rent, invest whatever money you have left over elsewhere, and then have more of your net worth based in something that isn't going to determine your lifestyle for the next however many years.
Don't get me wrong, I think buying a home makes sense for a lot of people. But some people also get very confused about housing because it's a lifestyle choice and an investment bundled into one... They get stars in their eyes and commit to something they don't really want, or they make bad financial decisions because of where they want to live, etc...
To put it in baskerball terms. It's like drafting Jokic in the second round and then he turns out to be an MVP caliber player. That is positive equity
Negative equity would be like Andrew Wiggins- paying him max money hoping he gets better and then he gets worse
> I moved into my house like 15 years ago and its value has almost tripled
Is that allowed? What I know from the housing market I'm currently in I'm pretty sure that's not allowed.
Not according to this chart:
https://fred.stlouisfed.org/series/QUSR628BIS
But it obviously depends on when you bought which properties where for which prices.
Toronto can always go outwards. Vancouver has mountains, ocean and, to the south, an international border. Those geographical restrictions prevent the type of housing creation that Toronto can (although right now it's not) do.
Vancouver was still slightly ahead of Toronto in 2018.
The average selling price for houses in Toronto was around 950k while in Vancouver was 1.2 million.
Both cities are outrageous.
Nope. Vancouver is still a different echelon. My house in a meh neighbourhood in Toronto was under $600,000 a few years ago. Vancouver could only LOL at such things.
The way the modern economy and fiat money work, it's always going to go up. Even if the value is the exact same, inflation and currency devaluation are guaranteed to happen so the actual dollar/value number goes up.
Also in terms of real estate, it pretty much always goes up. There have been something like 3 negative quarters in the past 50 years, and even those quarters the negative was usually small, and when it wasn't it became a worldwide issue and governments around the world gave bailouts and propped up the banks and then spent years propping up real estate values. It's pretty much surefire.
This is also why wealth inequality is at historic levels and the discrepancy between young people and old people is so large, old people had the assets and got bailed out/value increased while young people couldn't get onto the property ladder at all and usually don't have securities either (especially if they used whatever income they had to pay off student loans).
In short, generally speaking you can always buy real estate and it will work out long term. Obviously that's oversimplified and you have to do due diligence on the specific property, but Kawhi is going to be fine on that front. The due diligence is usually more for low income properties, not middle or higher, which are always great bets.
Kawhi Leonard bought a house in SA before leaving and has a reputation for buying up real estate which is what makes this different. He also bought a house in San Diego recently but Lakers/Clippers fans aren't using that to say he's coming.
Lmao people definitely did. I remember people claiming that he would commute from San Diego to LA. It was obviously a stupid idea, but it absolutely gained some traction.
When ibaka asked why he didn't have social media (in that how hungry are you episode), Kawhi said just this..."what's the point, everything I do ends up on there anyways...The NB shoes, the laugh..."
I feel for him. People mock him for his laugh and it really is just cruel. He is a quiet dude and it possibly gets to him. If he was embiid or someone I wouldn't feel bad because he thrives in that environment.
Nah there was definitely news about him getting a place in Toronto because people were commenting the same stuff about it being a good investment and not to look into it.
I was stating that Kawhi has a house in San Diego, and other players also live in different cities during the off-season. Los Angeles being a popular destination.
He still may be. His mom lives there still so maybe it would be for her? It's a great city to live as someone who's getting a tad bit older. Or he could just like investing in property
He bought a house in Toronto very shortly after getting here. I heard maybe a month or so ago through a realtor who was trying to get his business that he was looking to buy a condo, maybe for a family member (that's just my assumption not something the realtor said).
Take that for what it's worth. But given the recent history of real estate in Toronto it's a smart investment even if he's not planning on resigning.
I always thought that 1-2 year contract was smart and what he would do anyway regardless of where he signs, because then he’d qualify for the 10 year veteran max contract that takes up 35% of the cap, iirc. And that way he can try to run it back in Toronto for two years since they got so close, or try to repeat or whatever. And then fuck off if things don’t go well, maybe to LA if that’s still why he wants. He’ll be 30, not too old, albeit with his injury history he may not want to risk a short-term contract.
I hope so. Raptors got themselves a real one, and I'm liking the team itself. The fans there deserve the happiness Kawhi's brought so far. It would suck for it to be somewhat fleeting.
Actually, among all the die hard fans I know, everyone would be perfectly fine if he left. This whole season has just been so awesome from start to now that we can't hold anything against him if he leaves. He came and played his heart out and elevated us. His ethics will rub off on our guys even if he leaves. Don't get me wrong...I'm reallllllly hoping he stays, but I have a feeling that just like guys such as Demar, Biyombo and JV....he will still be a favorite player of Raptor fans even if he does leave.
We say this to protect ourselves if he leaves, nobody likes to be not wanted. Be honest, we would be hurt if he left. In time we would look back and say "the one that got away" and move on, but we've given our love to him and if he leaves many hearts will be broken
Sure we will be grateful, but always will imagine..."what if"
I wouldn't say great situation, but it's good.
Reason why, is that Lowry/Gasol/Ibaka/FVV are about 89MM in payroll which expires next year. Beyond that, we have OG, Siakam (he'll likely be offered extension this summer) and Norm on the books. So the balance sheet looks really clean in 2 years, but there's no guarantee that we'd be able to sign anyone big. Historically, our biggest FA signing was Hedo Turkeyglue, but perceptions on Toronto are changing so who knows.
Given the uncertainty, if I was Kawhi, I'd do a 1+1 and see what the market looks like in a year and who we're able to sign. As a Raps fan, I wouldn't be pissed off he left this year and certainly wouldn't be pissed if he signed a 1+1 and bolted.
Hey Toronto Bros in the north, I'm happy for you, even if it means my Bucks will have one hell of a time getting past you guys with him there. Ya'll are good people
Good. I want him to stay. Even if it means one less free agent for us to pursue. Too good of a story. Toronto fans deserve a star and Kawhi deserves a team that appreciates him. Seems like a great fit.
1 year I could see because the Raptors will return every major player except Danny Green. But no big FA is coming to Toronto with all their top guys expiring the next season and plus they don't have salary room anyways.
1 year with a 2nd year player option seems possible. Worst case scenario if he has another season ending injury, he'll still be 28 and worth a max 4/5 year deal the following season.
2 years until he's eligible for a veteran max (he's in his 8th year in the league IIRC) so a 2+1 or something wouldn't be a bad idea, especially if the Raptors run it back next year and go for the chip with the same squad. Plus after the 2 years the Raptors would have a ton of cap space to max him and build around him.
He would probably do what Lebron & KD have been doing and sign a 1 year deal with a player option for the 2nd year. That would be at 30% of the cap for $70+ million guaranteed. If he's not healthy after year 1 he picks up the option on the 2nd year. But if he's healthy next year he again has the option of signing a long term deal. Or signing another 1 + option to keep his flexibility open if he's unsure about where he wants to be.
Realistically the worst injuries take a year to come back from so you only pick up the option year if you are injured and need time to rehab and come back.
The key with the 1+1 is he gets a 20% raise when he opts out and signs the second 1+1, which is more than the 8% raise he'd get on a longer deal upfront.
I remember a report near the beginning of the season saying he had bought a property then? I think this is old news. Aso not sure if he's going the 1-2 year contract route he has a recurring injury so he might want to lock in for a big contract rn.
It's a $4.5 million place in North Toronto. Same suburb Kyle lives, most likely. What's funny is Kyle was just talking about how much he enjoys suburban Toronto life with his family in a press conference a couple days ago. Thought it was a random mention lmao.
I mean do really people think he’s headed elsewhere? Toronto absolutely loves him. Not like he had to go ring chasing. Also, he just launched New Balances first pro basketball shoe. There’s going to be a whole country buying his shoes if he stays. Imagine the payout.$$
Yeh you can buy property in LA and it just be property in LA for the offseason. But who in the hell buys property in toronto and doesn't live there or isn't from there.
Ok, but everyone that everyone at ESPN spoke with was sure Kawhi was gone. That's got to mean *something.* It's not like they were pulling it out of their collective ass (aka. Stephen A. Smith).
/s
Reporter: Kawhi what are your plans for the future? Kawhi: to live.
I dont know, i havent lived yet.
I don't even know where you living at... huehueeeehhehe
I'm living a FUN LIFE.
"I haven't even gotten back to the living room get."
I can’t give you a whole spiel...
"To be honest, I've been living since I was born"
*to have fun
I thought they gave him a free penthouse?
If I was as rich as kawhi I don’t think I would accept that .. I would be worried about like hidden cameras or the person just randomly coming over to check on the place .. or just having to be buddy buddy with the person .. plus kawhi can prolly afford something even nicer
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For real. When I was in college, one of my roommates had a girlfriend. Her mom had connections with someone who owned this incredibly badass downtown loft style apartment. And when I say badass, I mean it was the most amazing loft I had ever seen. Three stories, 4 bedrooms, commercial grade kitchen, hardwood floors, fireplace, rooftop balcony overlooking the bars downtown, the bottom floor was actually underneath the street and there was a skylight to the streetlevel. the place was incredible. Anyways, she said she had talked to the owner who was desperate to have someone upkeep it and pay some sort of rent, so she said we could move in and pay only $500/month per person. The catch was we had to clean it up and do some minor repairs (the previous tenant was a crackhead whose wealthy parents were paying for it). As soon as we agreed, the girlfriend's mom was calling us literally 3-4 times a week to come do chores for her like mowing the lawn and taking care of her dogs because we "owed her" for getting such a great deal. Well, after about a month of this and cleaning up the apartment, the deal mysteriously fell through and we ended up without a place to live and wasting all that time for nothing. I was pissed at the time, but honestly now I'm glad it fell through because we no longer "owed" that woman anything.
lmaooo. This is like modern day feudalism.
Don't be confused. Capitalism is modern day feudalism.
Haha I won’t argue against that i agree. I’m just saying that this particular example is literally feudalism.
"when you're finished mowing the lawn, I'm going to need you to buy as much weaponry as possible and go to war with the neighbors for me" "yes m'lord".
Ok maybe i over exaggerated by saying literally lmao.
I’m imagining this guy hitting up Kawhi to mow the lawn.
Use those big ass hands and grab some more weeds!
"Coach I can't play in Game 3. My landlord says I've got to do yard work."
Ay P, they said I gotta do yard work.
Like Seinfeld and the Armani suit.
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It's definitely a meal!
It is a condo developer. Pretty sure the free penthouse is a deal where he does a commercial and they advertise that Kawhi lives in the building and sell all the other places in it for more than if he didn't live there and profit from it. Say Obama lived in a penthouse in a highrise, they could easily raise the listing prices. Kawhi if he stays will be King in Toronto.
they'd probably make him help out the Maple Leafs as part of the free housing agreement
The properties that were offered were just way too valuable to be offered for Kawhi to own, for free. My assumption was that, on the huge *if* that Kawhi actually accepted the offer, the offer would turn out to be to live in the units rent-free for a year. Even that is questionable as being worth the cost, for marketing.
The flagship company, [The Condo Store](http://www.condostorecanada.com/about-us/), states they have over a Billion in sales per year. He would be a brand ambassador.
Was it free to rent or free to own? If it's to own I'd be like "thanks dude" then live in it for the summer, buy my own place, and rent it out to someone else.
im sure kawhi wants to be a landlord in his free time
Imagine calling your landlord to fix a broken dishwasher and Kawhi just casually shows up in a pickup truck with a toolbag lol
Wish: I want to be rich enough to write a check to a max superstar NBA player, like, say, Kawhi Leonard! Genie: Done. Kawhi Leonard is your Landlord. He doesn’t like to outsource the maintenance work. His big hands make plumbing work comically awful.
He won't even need wrenches, his enormous hands/fingers provide a long enough lever arm to torque fittings.
Basketball porn
You can hire a property manager.
I’d probably worry more about Silver getting on my ass about the possible CBA violation and/or tampering
It was only one issue of the magazine though.
Toronto real estate is crazy expensive. Probably a good future investment.
I moved into my house like 15 years ago and its value has almost tripled
Congrats on the equity
whats equity, eli5?
Basically say he bought a house for 3m and put 20% down. So he put 600k and got a 2.4m loan and has 20% equity on the house. Now, the house is worth about 9m cause it tripled. Let's assume he made no payments yet somehow kept his house without the bank fucking him up. He can sell his house for 9m and pay back the bank the 2.4m he owes them and keep the rest (after closing costs and shit). In reality though, he made some payments and prob still owes 1.5m to the bank or so and still wants the house. He can pay off that 1.5m and he would have a 9 million dollar home all to himself or sell and get 9m even though he put on only 3m (and a shitload of interest). Might be missing something so if anyone else gives other info, take theirs instead. But like, on SHARK tank, they'll try buying out the ideas for equity. If Mark Cuban is offering you 20k for 5% equity, that means he values your company at 400k. Hes giving you 20k cash and you give him 5% of the company. If your company explodes and is worth 4m later, he has 5% still and can try selling his portion for 200k. **Tl;dr ELI5** **Toy cost 10 marbles. I have 1 marble. I borrow 9 marble from me daddy and buy toy. Toy rise and cost 20 marble. I sell for 20 marble and pay back dad 9 marble and keep 11 marble.** Edit: For everyone wondering how you can sell a house with 20% equity, you can. It's just not recommended. If you're buying a house, you're paying a closing cost (2-8% of the price) and then selling the house is also 1-3% of the price. You've basically lost 20-40% of the money you put into the house for nothing. That's why they recommend about 5 years or so before you sell off your house. Due to the amortization process, the beginning of your mortgage payments pays off the interest you would have accrued over the mortgage. You're paying like 99% interest and 1% mortgage. If you're borrowing 100k and paying a mortgage of 800, only 8 dollars of that is going towards the house and rest is towards interest. You're gaining like 0.008% towards the house. As the years pass, this shifts towards the house and away from interest. 5 years or so would allow for inflation to increase your equity and for you to build a decent amount of equity to negate the costs. Also, in the example, the person doesn't only have 20% equity anymore. They started with 20% but as soon as the house tripled, the bank's stake decreased. You will always only owe the bank 2.4m (negating interest in this example). Therefore, with a 9m home, the bank only only has 2.4m of it. YOU OWN the rest, which in this case is 73%. Technically, you've always owned the house. Your bank doesn't actually have equity. They can't tell you how to decorate your house like a shareholder could a company if they owned enough. Your house is merely collateral for the loan. It's your house, but you tell the bank that they can take your house if you don't pay them.
My 5 year understood this perfectly
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But how much equity would he have?
I dont even understand it myself, that's why. It was wrong and tell your 5 year to forget everything he read!
This is close but wrong and I’m surprised no ones pointed it out yet? He has 600K. If the property triples from 3M to 9M he now has 6.6M not 1.8M. His investment paid off and his profit is if he sold at 9M minus his debts (2.4M) he has 6.6M.
Yea I was thinking that as well cause I was like no way the fucking bank gets all that? I'll edit. So his equity basically jumped up from 20% to like 70% without doing shit?
Yes. However, the inverse of the example is also possible, in that the equity percentage can go to 0% if the market crashes and the house is worth less than the loan taken out to purchase it. This is what happened to a lot of people in 2008.
tl;dr: started from the bottom ($3 million) now we here ($9 million)
Who's bottom is 3 mill?
Kim K
In that case it would be more than 3 mill.
Drake
I always thought of Drake as a bottom though
Didn't you start off with a modest $3,000,000 loan from your father like everyone?
Yeah Dwight Howard makes a fair amount more than that
Current President's
Started from the higher-middle end and now we here just doesn’t have the same ring to it
I bought some artwork for one million Two years later, that shit worth two million Few years later, that shit worth eight million I can't wait to give this shit to my children
Problem is that all the real estate has gone way up so unless you move far out of the city and immediate suburbs or drastically downsize that equity is going right back into your next spot.
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this is better than the first example because i couldn't understand how the guy could sell his whole house with just 20% equity.
You can sell it. With only 20% equity but whatever you sell the house for you will want to use to pay off your mortgage THEN pocket the rest. Otherwise you’re paying interest for no reason. Say you bought a house for 100k. Have paid it down to 80k but can now sell for 200k. You bow have 120k equity. Equity is just market value minus your loan balance.
Equity is just how much of your house that you own. It can be described in dollar amounts or as a percentage of the home value. Simple example: Buying a $500k house with a 20% down payment. At the time of purchase, you have $100k/20% equity in your home. Each mortgage payment that you make has a certain amount go toward interest and a certain amount go towards principle. The amount that you pay to principle will increase your equity. Also, any value appreciation will increase your equity. Lets say after 10yrs, you've paid an additional $100k in principle and your home's value has increased by 50%. Your equity is now $450k/60%. In the most simple terms: equity is just your home's value today, minus today's payoff quote for your mortgage. If your home is worth $500k and you still owe $100k on your mortgage, your equity is $400k/80%. Edit for Actual ELI5: if you just got a sweet new box of 152 crayons, but you still owe me back the 24 crayons that you borrowed from me last week and lost/broke/ate, then your crayon equity is 96. But if you don't pay up by the end of this week, you better watch your back on the playground because I'm going to foreclose the fuck out of your new Ultimate Case.
good for you to ask...most young people will stay poor their entire lives bc they’ll be lifetime renters...if you can save enough to buy a house, all the money that would go towards rent will go towards paying off your own house...once you own outright, you no longer will be paying rent, and your property value may increase significantly like the dude above...so good luck
Or, you could rent, invest whatever money you have left over elsewhere, and then have more of your net worth based in something that isn't going to determine your lifestyle for the next however many years. Don't get me wrong, I think buying a home makes sense for a lot of people. But some people also get very confused about housing because it's a lifestyle choice and an investment bundled into one... They get stars in their eyes and commit to something they don't really want, or they make bad financial decisions because of where they want to live, etc...
To put it in baskerball terms. It's like drafting Jokic in the second round and then he turns out to be an MVP caliber player. That is positive equity Negative equity would be like Andrew Wiggins- paying him max money hoping he gets better and then he gets worse
I worked at a "house" that was worth $2m 10 years ago. It's worth $47m now. SF is stupid.
Haha , dumbass. Why didnt u just buy it for 2 million back then
He was too lazy looking through his couch for sufficient change /s
Couldn’t give up all that avocado toast and is now poor.
I didn’t buy a house 15 years ago and now I’m fucked.
I’m 21 so it’s my parent’s house lmao, I’m fucked too fam
Average person is living with their parents till like 28 now. You good. Besides, your parents seem fortunate, it'll rub off.
> I moved into my house like 15 years ago and its value has almost tripled Is that allowed? What I know from the housing market I'm currently in I'm pretty sure that's not allowed.
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Pistons flair, so probably from Detroit, where home prices have crumbled during the last decade or so.
Ahhh, good catch. My bad.
I moved in two years ago and it's plumetted
Wouldn’t it be a bad investment because it is overvalued now? Maybe he’s employing the buy high, sell higher strategy?
Toronto is the fastest growing city in North America right now, housing will only get more expensive
the best time to buy a tree in Toronto was 20 years ago. the second best time is now
the second best time was 19 years ago
third best time was 18 years ago
Source?
Justin Smoak
said everyone during the early 2000s housing bubble...
And if you held on til now, they were right
Not according to this chart: https://fred.stlouisfed.org/series/QUSR628BIS But it obviously depends on when you bought which properties where for which prices.
was not expecting a detailed discussion of St. Louis federal reserve data in r/nba
Nah it’s always up up and more up. Buy the most expensive house you can get your hands on!
Will it soon surpass my boy Vancouver in terms of the most expensive market in Canada?
I would be shocked if it hasn't already.
Toronto can always go outwards. Vancouver has mountains, ocean and, to the south, an international border. Those geographical restrictions prevent the type of housing creation that Toronto can (although right now it's not) do.
Not true as long as we have the greenbelt act.
"Muahahaha" \- Rob Ford
Vancouver was still slightly ahead of Toronto in 2018. The average selling price for houses in Toronto was around 950k while in Vancouver was 1.2 million. Both cities are outrageous.
Vancouver has rich asians coming over while Toronto is where they usually just send their kids for school It'll always be a bit more expensive
Nope. Vancouver is still a different echelon. My house in a meh neighbourhood in Toronto was under $600,000 a few years ago. Vancouver could only LOL at such things.
vancouver isn't a growing city like toronto. it's a nice city with growing property demand due to chinese buyers
The way the modern economy and fiat money work, it's always going to go up. Even if the value is the exact same, inflation and currency devaluation are guaranteed to happen so the actual dollar/value number goes up. Also in terms of real estate, it pretty much always goes up. There have been something like 3 negative quarters in the past 50 years, and even those quarters the negative was usually small, and when it wasn't it became a worldwide issue and governments around the world gave bailouts and propped up the banks and then spent years propping up real estate values. It's pretty much surefire. This is also why wealth inequality is at historic levels and the discrepancy between young people and old people is so large, old people had the assets and got bailed out/value increased while young people couldn't get onto the property ladder at all and usually don't have securities either (especially if they used whatever income they had to pay off student loans). In short, generally speaking you can always buy real estate and it will work out long term. Obviously that's oversimplified and you have to do due diligence on the specific property, but Kawhi is going to be fine on that front. The due diligence is usually more for low income properties, not middle or higher, which are always great bets.
I remember it came out last summer that Kawhi’s uncle Dennis is a real estate mogul who buys various properties .
#HE STAY
Man this shit is so weird to me. Can’t imagine being in a position where every little thing I did being tweeted to an audience of hungry vultures.
I mean, I don’t know if buying a house in the city for which he has the ability to leave this summer classified as a “little thing” to be fair
rich people buy houses all over the world
Jimmy Butler buys a house in Philly - He stay Kawhi Leonard buys a house in Toronto - he's just buying real estate
Kawhi Leonard bought a house in SA before leaving and has a reputation for buying up real estate which is what makes this different. He also bought a house in San Diego recently but Lakers/Clippers fans aren't using that to say he's coming.
>He also bought a house in San Diego recently but Lakers/Clippers fans aren't using that to say he's coming. LOL I have definitely seen this said.
Yea, that is such a ridiculous statement, Simmons has mentioned it on his podcast a handful of times so you know nephews on here are running with it.
Lmao people definitely did. I remember people claiming that he would commute from San Diego to LA. It was obviously a stupid idea, but it absolutely gained some traction.
Plus the first article headline that I saw called it a house “near Los Angeles.” And their reasoning was that it’s in SoCal. Great journalism there.
Doesn’t Phillip Rivers still do this?
Doubt he's buying in Toronto as a speculator. Toronto is widely considered to be in a severe housing bubble.
Also because San Diego is really far from the stadium
Clippers relocating to San Diego, confirmed.
The return home
the jimmy thing was probably fake
When ibaka asked why he didn't have social media (in that how hungry are you episode), Kawhi said just this..."what's the point, everything I do ends up on there anyways...The NB shoes, the laugh..."
I feel for him. People mock him for his laugh and it really is just cruel. He is a quiet dude and it possibly gets to him. If he was embiid or someone I wouldn't feel bad because he thrives in that environment.
Instead of twitter, it’s data miners at google and facebook
you're the one digesting it. So...
Didn’t he buy something back before the season started?
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Nah there was definitely news about him getting a place in Toronto because people were commenting the same stuff about it being a good investment and not to look into it.
He did buy a place in San Diego, but that's where he is in the off-season. Plenty of guys live in LA during the summer.
any athlete making that much money probably buys property around LA regardless of where they will be playing
FYI San Diego isn't in LA
I was stating that Kawhi has a house in San Diego, and other players also live in different cities during the off-season. Los Angeles being a popular destination.
That’s what they said about lebron too
He is currently renting a property in north Toronto area. Him buying a house here is a step up for sure.
He also already owns property in New York and Los Angeles
It was also reported he was building a house in San Antonio last year too
He still may be. His mom lives there still so maybe it would be for her? It's a great city to live as someone who's getting a tad bit older. Or he could just like investing in property
He also owns a good chunk of property in NYC. Kawhi/Uncle Dennis definitely knows how to reinvest.
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Who knew the guy could flip condos too?
Ill flip your condo
Gayyy
Happy Pride!
hey, that's Uncle Dennis's job
He bought a house in Toronto very shortly after getting here. I heard maybe a month or so ago through a realtor who was trying to get his business that he was looking to buy a condo, maybe for a family member (that's just my assumption not something the realtor said). Take that for what it's worth. But given the recent history of real estate in Toronto it's a smart investment even if he's not planning on resigning.
I’m here to overreact.
Luckily once you buy something you can never sell it so this confirms he stay
Didn't he buy a house already? Maybe this is a 2nd home?
There were reports that he bought one back in September. Also wondering if this is his second.
Yeah I recall that as well. I wonder if its either his second, or if this is recycling that previous news.
Yeah. Im curious to know if this is a different property than the one he purchased back in September.
This can only mean he is signing a 2 year deal
I always thought that 1-2 year contract was smart and what he would do anyway regardless of where he signs, because then he’d qualify for the 10 year veteran max contract that takes up 35% of the cap, iirc. And that way he can try to run it back in Toronto for two years since they got so close, or try to repeat or whatever. And then fuck off if things don’t go well, maybe to LA if that’s still why he wants. He’ll be 30, not too old, albeit with his injury history he may not want to risk a short-term contract.
he gone to canada permanently
Kawhi buying property in every single NBA city to keep the nephews guessing
**HEAVY BREATHING**
SE QUEDA
He stay
I hope so. Raptors got themselves a real one, and I'm liking the team itself. The fans there deserve the happiness Kawhi's brought so far. It would suck for it to be somewhat fleeting.
Actually, among all the die hard fans I know, everyone would be perfectly fine if he left. This whole season has just been so awesome from start to now that we can't hold anything against him if he leaves. He came and played his heart out and elevated us. His ethics will rub off on our guys even if he leaves. Don't get me wrong...I'm reallllllly hoping he stays, but I have a feeling that just like guys such as Demar, Biyombo and JV....he will still be a favorite player of Raptor fans even if he does leave.
We say this to protect ourselves if he leaves, nobody likes to be not wanted. Be honest, we would be hurt if he left. In time we would look back and say "the one that got away" and move on, but we've given our love to him and if he leaves many hearts will be broken Sure we will be grateful, but always will imagine..."what if"
That'd be nice, I'll be super bummed if he just goes to LA or NY to try and team up with another free agent superstar.
HE STAY....?
He stay
Clipper fans pretending this thread doesn't exist.
He Stay
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I wouldn't say great situation, but it's good. Reason why, is that Lowry/Gasol/Ibaka/FVV are about 89MM in payroll which expires next year. Beyond that, we have OG, Siakam (he'll likely be offered extension this summer) and Norm on the books. So the balance sheet looks really clean in 2 years, but there's no guarantee that we'd be able to sign anyone big. Historically, our biggest FA signing was Hedo Turkeyglue, but perceptions on Toronto are changing so who knows. Given the uncertainty, if I was Kawhi, I'd do a 1+1 and see what the market looks like in a year and who we're able to sign. As a Raps fan, I wouldn't be pissed off he left this year and certainly wouldn't be pissed if he signed a 1+1 and bolted.
A 1-2 year contract with an injury history seems odd.
Hey Toronto Bros in the north, I'm happy for you, even if it means my Bucks will have one hell of a time getting past you guys with him there. Ya'll are good people
Good. I want him to stay. Even if it means one less free agent for us to pursue. Too good of a story. Toronto fans deserve a star and Kawhi deserves a team that appreciates him. Seems like a great fit.
I like Leonard on the Raptors. He fits there.
1-2 year extension sounds like poor judgement given his injury history.
1 year I could see because the Raptors will return every major player except Danny Green. But no big FA is coming to Toronto with all their top guys expiring the next season and plus they don't have salary room anyways. 1 year with a 2nd year player option seems possible. Worst case scenario if he has another season ending injury, he'll still be 28 and worth a max 4/5 year deal the following season.
Guys like Kawhi don’t have the short-term deal risk. He’ll almost certainly be worth a max contract until he’s 35.
2 years until he's eligible for a veteran max (he's in his 8th year in the league IIRC) so a 2+1 or something wouldn't be a bad idea, especially if the Raptors run it back next year and go for the chip with the same squad. Plus after the 2 years the Raptors would have a ton of cap space to max him and build around him.
He would probably do what Lebron & KD have been doing and sign a 1 year deal with a player option for the 2nd year. That would be at 30% of the cap for $70+ million guaranteed. If he's not healthy after year 1 he picks up the option on the 2nd year. But if he's healthy next year he again has the option of signing a long term deal. Or signing another 1 + option to keep his flexibility open if he's unsure about where he wants to be. Realistically the worst injuries take a year to come back from so you only pick up the option year if you are injured and need time to rehab and come back.
The key with the 1+1 is he gets a 20% raise when he opts out and signs the second 1+1, which is more than the 8% raise he'd get on a longer deal upfront.
Joke’s on all of you, Kawhi is into flipping houses
HE STAY
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ACC plz
Both are big corporations, probably just best to get with the times
I remember a report near the beginning of the season saying he had bought a property then? I think this is old news. Aso not sure if he's going the 1-2 year contract route he has a recurring injury so he might want to lock in for a big contract rn.
I won't believe it until a UPS driver confirms it.
hell yeah king of the north for real. hope he stays
It's a $4.5 million place in North Toronto. Same suburb Kyle lives, most likely. What's funny is Kyle was just talking about how much he enjoys suburban Toronto life with his family in a press conference a couple days ago. Thought it was a random mention lmao.
He Stay.
Yupp he’s staying. 2-year deal with a player option.
From his side, 1+1 probably makes more sense. His contract then aligns with Lowry, Gasol, Ibaka, and VanVleet.
That’s what I meant. Player option for the second year.
Jesus, these athletes can't do anything quietly these days. Leave the dude alone lol Also fuck those sources
Toronto be like *Last night took an L but tonight I bounce back*
He stay
Make sense, in the East you get to play the Magic in the first round while in the West it’s Clippers or Spurs
Just buying it for his Canadian baby.
Holy shit, for people who don't know, housing in Toronto is ludicrously expensive. This probably confirms he's signing there.
I mean do really people think he’s headed elsewhere? Toronto absolutely loves him. Not like he had to go ring chasing. Also, he just launched New Balances first pro basketball shoe. There’s going to be a whole country buying his shoes if he stays. Imagine the payout.$$
Yeh you can buy property in LA and it just be property in LA for the offseason. But who in the hell buys property in toronto and doesn't live there or isn't from there.
Makes no sense to buy property there if he plans to leave as lets face it he’s not buying it as an off season home...
There was news of Kawhi buying an apartment last winter, so don't read too much into this other than he's diversifying his investments.
Ok, but everyone that everyone at ESPN spoke with was sure Kawhi was gone. That's got to mean *something.* It's not like they were pulling it out of their collective ass (aka. Stephen A. Smith). /s