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I don't understand. A decent percentage of US mortgages were issued to collapse (mortage below rent, low tease rate, big balloon or exhorbitant interest rately shortly after). Canada reasonably (imo) tests your income vs the loan and accounts for higher future rates.
We really are spoiled and greedy on average. The house with three generations in it was statistically ~1500 sq ft and there was one family sedan. Now people think that for two kids and two parents, 4000+ sq ft is reasonable and there are multiple huge SUV's/vans per family. I know one family with two kids that upgraded from 4400 sq ft to 6500 sq ft so they could have more space. wtf.
A few years ago there was a protest against a limestone quarry un the Bruce Peninsula IIRC. I wonder how many of the protesters owned huge quantities of concrete in the form of basement foundations and block work or would say no to a big addition if their fortunes grew.
Well ya, put the quarry somewhere else. Just not near me. Or nature. Or my family. Or my friends. If you do put it somewhere, conduct a dozen studies on the impact and maintain continuous groundwater monitoring around the site in perpetuity. Why do building materials keep getting more expensive? There is no reason for that other than greed.
www.insauga.com
The hoarder house is likely a good deal for someone. Bought it for 1M, comps are 1.3 to 1.5. Clean out the crap, quick patch/paint, bathroom/kitchen refresh and back on the market as a livable house with all potential problems buried.I've heard of houses being sold 'as is where is' but 'unsafe to show' ... that's a new one.
'Unsafe to show,' boarded-up Mississauga house sells for nearly $1 million in just four days | insauga
You’ve often heard that real estate—more specifically, success in real estate—is about location, location and, yes, location. Well, the recent buyer of a two-storey detached home in the Burnhamthorpe/Erindale Station Rds. area of west Mississauga must love the location—because the boarded-up...
I remember maybe 15 years ago I went to look at a 3 plex at Lakeshore and Brownsline...maybe 200k but you could see from each unit top to bottom as the floor was rotted through. Seems like an opportunity now!
A friend has a near 2 million dollar property that has mold issues from a often flooded basement. The only reason he continues to live there is the heating is by radiators and the basement is closed off. Still I wouldn't go take a look. The house is a knock down regardless of what anyone did.I've heard of houses being sold 'as is where is' but 'unsafe to show' ... that's a new one.
'Unsafe to show,' boarded-up Mississauga house sells for nearly $1 million in just four days | insauga
You’ve often heard that real estate—more specifically, success in real estate—is about location, location and, yes, location. Well, the recent buyer of a two-storey detached home in the Burnhamthorpe/Erindale Station Rds. area of west Mississauga must love the location—because the boarded-up...
I remember maybe 15 years ago I went to look at a 3 plex at Lakeshore and Brownsline...maybe 200k but you could see from each unit top to bottom as the floor was rotted through. Seems like an opportunity now!
From a neighbour it was an old guy that apparently went down a mental health spiral, began hording and is now in LTC. I doubt it was ever a grow op.
Did you see the "poor me" article about the guy that got his 300k Urus carjacked? Also lost multiple watches that added up to 80k. He is 27 and has been here since high school. The urus was a gift from his parents. If they tracked foreign money buying houses instead of their intentionally obscure foreign buyers, the picture would be far different. To be fair, it's not all foreign buyers, lots of people are using canadian money and leverage to collect properties. A friend of a friend went from zero to 68 rental units during the pandemic.
Just read that now, surprised it doesn't happen more often to be honest. Seems like easy pickings for criminals..
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