I've knocked on doors around our unit to try and get enough folks out to forma Quorum.
COVID and the housing market
- Thread starter mimico_polak
- Start date
0.25% drop today...there's another $30 off my bi-weekly payment....so very very close to being <$1k/bi-weekly...
Hey leave me alone.
Daydreaming today.
I went on Southeby's real estate pretending I won a major lottery.
It was interesting but not surprising that there weren't fire sales in Forest Hill, Rosedale, Bayview etc.
There were a lot of "Mansions" on small lots but, pretending I'm snobby rich, I want room for a pony, dual purpose bike or quad to do a circuit around the main abode.
Being snobby, I have noticed over a few service calls one must sometimes compromise between what you want and where you want it.
If you can only afford a million dollars you can have a blah townhouse in Toronto or a beautifully restored mansion on a big lot in Timmins. Commuting is a B****.
This was my pick. Dundas isn't an impossible commute and the weather is Toronto. nuff said. Drivers will be Toronto influenced but with a few acres one can make their own roads. Go-Fund-Me anyone? $20M CDN should do it leaving a few dollars for upkeep. I'm not weeding the lawn myself.
There were few other more paltry options, one in Quinte that had some appeal and waterfront but since I'd be spending someone else's money, why hold back. Spoken like I was on the Liberal grift.
I went on Southeby's real estate pretending I won a major lottery.
It was interesting but not surprising that there weren't fire sales in Forest Hill, Rosedale, Bayview etc.
There were a lot of "Mansions" on small lots but, pretending I'm snobby rich, I want room for a pony, dual purpose bike or quad to do a circuit around the main abode.
Being snobby, I have noticed over a few service calls one must sometimes compromise between what you want and where you want it.
If you can only afford a million dollars you can have a blah townhouse in Toronto or a beautifully restored mansion on a big lot in Timmins. Commuting is a B****.
This was my pick. Dundas isn't an impossible commute and the weather is Toronto. nuff said. Drivers will be Toronto influenced but with a few acres one can make their own roads. Go-Fund-Me anyone? $20M CDN should do it leaving a few dollars for upkeep. I'm not weeding the lawn myself.
There were few other more paltry options, one in Quinte that had some appeal and waterfront but since I'd be spending someone else's money, why hold back. Spoken like I was on the Liberal grift.
Four houses and an apartment included. Do people that buy 18M estates want tenants? Do vacant property taxes apply to the four empty dwellings on your property? I don't see taxes listed but probably in the ballpark of $150K. Ouch. Back to stupidity of principal residence exemption from capital gains. If you buy an entire neighbourhood and consolidate everything into one parcel, is the whole thing exempt from CG tax?
It's nice and it's a cool pocket. Even if I could afford it (which I will never be able to do), I don't know if I could stomach the cash burn to keep it. Realistically, probably north of $30K per month in utilities/tax/maintenance.
With farms IIRC only 2 acres are CG protected. 5-10 acres of single family is hard to justify CG protected.
I've been in some of those places and while they can be impressive they are so large they need massive staff to keep neat. You have a large staff of basically strangers wandering through your house and peeking in your windows. Downton Abbey.
Security issues etc.
If you bought the place your shopping list for furniture and objects d'arte would buy another house.
Can't bring plonk to the neighbourhood BBQ.
You are the entire neighbourhood. I think they aggregated all of the parcels in that pocket. Keep the riffraff away. It looks like they paid under 5M about a decade ago (purchases were over a few years). Offer it for 18 and schedule visits between trains.
Big fire in Yorkville took out townhouses that were being redeveloped. There was a stop work order as major construction had been done without permits. Owner must be happy that they randomly burned down and now insurance will pay instead of taking it on the chin and building properly. /s
www.cp24.com
Some homes in ‘suspicious’ Yorkville fire had unresolved building permit violations, records show
Some of the homes involved in what police are calling a ‘suspicious’ three-alarm fire in Toronto’s Yorkville area on Wednesday morning had unsolved building permit violations, records show.
www.cp24.com
A suspicious fire doesn't necessarily get a fast compensation cheque.
It still may be faster and more profitable than going bankrupt on your failed flip.
As with almost everything, house prices up over the next few years. Predicting movement over a period of months is a fools errand.
The instability is increasing cost to build and making the math fail to compute for some new developments (along with interest rates and general inflationary pressure). Slow down rate of construction and existing stock increases as there are more people and no more dwellings.
The first thing that comes to mind is lumber prices. Will the never-ending soft wood issue drop Canadian prices due to supply / demand?
Will a tariff hit imported items such as plumbing, roofing and electrical supplies?
Will the tariff hit Chinese items imported through an American seller or is it country of manufacture?
If a particular item isn't made in Canada who does the tariff protect?
My understanding was tariffs were only on things made in USA. Transiting through USA should not be hit. Now, that can change at any time and CBSA isn't known for their consistent and fair approach.
Canadian lumber prices shouldn’t drop . All lumber is sold in US dollars , even in Canada at mill plateaus. Demand in the US will just mean curtailed production here . The trees won’t go bad , we will just leave them in the forest .
But things like cement siding for houses , many vinyl products , mirrors and glass for windows , curved glass , Trex decking , all looking at increases.
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But things like cement siding for houses , many vinyl products , mirrors and glass for windows , curved glass , Trex decking , all looking at increases.
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BC is threatening tolls on trucks going from the mainland US to Alaska.
I would expect any truck between Canada and Mexico will also be charged similarly as retaliation.
Defaults will continue for a while , the five years of very low cost money is slowly catching up .
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