I am a big fan of Done Deals section in 'Globe & Mail'. They print this section every Friday and I wait for this through-out the week.Sometimes the deals discussed are astonishing and these make me wonder "how is that possible".

Look at the image. It’s a scanned copy of such a deal, from May 1st paper of Globe and Mail.

If you look closely you will find that this property appreciated from 471,000 CAD to 970,000 CAD in just one year? The data presented simply says 2005 and 2006 respectively.

Did the buyer renovate the house or was it just another deal in a housing bubble?

I agree the neighborhood is nice and the house is prettier as compared to the most of the houses in the hood. But still, it makes me wonder.

The financial crisis in United States have made a global impact. There are reports of up to 27% decline in real estate prices in various states in America, particularly California and Florida. Well, all this is not news.

What’s interesting is that real estate market in Canada, particularly in Toronto, does not seem to have as greater impact. Although I admit that being a bystander, I may not know as much.One thing I did notice recently is that a few builders are offering good incentives to lure buyers. I saw an add (picture attached) in Toronto Star, where Conservatory Group are offering zero percent financing for three years for new homes currently available in their inventory. This offer is available for their new homes at Oakdale community, a division of new homes in North York. Hwy 400/ Hwy 401.Lets consider the amount of saving one would get if he buys a home using this offer.Lets say a decent home in their inventory costs  CAD 300,000. They are asking for a down payment of 15%

Cost 300,000 Down payment 15% - 45,000 Remaining Balance 255,000

Most people dream about starting their own business. Some take the challenge. Instead of just talking they go out and try. Most of them fail and at the end have huge debts to pay off. If they compare themselves with their peers, who didn't take the challenge and didn't fail, they feel as if they are far behind their peers in this race for money.

Is it still worth the try? Would you still try, if you failed the first time and it took you almost 5 years to payoff the debt?