COVID and the housing market | Page 230 | GTAMotorcycle.com

COVID and the housing market

Georg3__ said:
Wow you think they will go that high!?
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Inflation (based on the dodgy basket of goods) is still ~6%. They say they want to get to 2%. JT is spending like crazy so that will drive it higher (the only reason the budget doesn't look completely insane is if you compare it to the last two years where it was completely out of control, the proper comparison would be a budget from three to ten years ago and that shows how much of a moron he is).
 
Georg3__ said:
Another pre construction condo mess up..

www.blogto.com

Cancelled Vaughan condo project that left buyers in the lurch is back with new design

A cancelled condo development that left hundreds of buyers in the lurch in 2018 is back in the most believable plot twist in Toronto history. Anoth...
www.blogto.com www.blogto.com
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Mess up? I don't think these happen by accident. Sadly, they are planned and victimize people desperate for a home (and investors but I feel no sympathy for them. Far too many people believe an investment is guaranteed to win).
 
I'm so scared of preconstruction condos now and all these interest rate increases could mean we are in for a recession
 
nobbie48 said:
I wonder if the sign people are starting to make up "New Price" stickers to go on the "For Sale" signs.
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They will not. 'New Price' means that 'we can't sell it...so we're lowering the price to try and sell it'
 
GreyGhost said:
Mess up? I don't think these happen by accident. Sadly, they are planned and victimize people desperate for a home (and investors but I feel no sympathy for them. Far too many people believe an investment is guaranteed to win).
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It's also a problem for industrial renters. A buddy got financially booted out of his rental industrial unit about three years ago. It got sold and the new owner is converting it to condos at a million a piece. His rent was going up 50% and month to month.

He moved to a smaller but nicer rental unit and it's being done again. Foreign money. He could have stayed but the rent was going double with yearly escalation clauses. He had a five year lease but there was a new owner clause that allowed changes to rent rates.

Units are hard to find and moving costs for machinery are substantial. Money money money.

He deicided to retire a couple of years early.
 
nobbie48 said:
I wonder if the sign people are starting to make up "New Price" stickers to go on the "For Sale" signs.
Click to expand...

One is a single floor bungalow and inside shots look like they did minimal renovations but they want almost $1.9M. The folks who own it are very very old so maybe they are looking to get something smaller?

Good neighborhood though
 
GreyGhost said:
Inflation (based on the dodgy basket of goods) is still ~6%. They say they want to get to 2%. JT is spending like crazy so that will drive it higher (the only reason the budget doesn't look completely insane is if you compare it to the last two years where it was completely out of control, the proper comparison would be a budget from three to ten years ago and that shows how much of a moron he is).
Click to expand...
I think we're in for a tough couple of years. Gov'ts blew a lot of money during COVID, so much that free money for spending juiced demand to the point supply chains couldn't manage the uptick in demand. When you have more money chasing fewer goods, you get inflation -- it's basic economics. Many gov't are guilty of this, but Canada is continuing to spend like a drunken sailor - the 2022 budget . We're going to run a federal deficit of $113B -- that's a huge number.

Fortunately, our economy is tempered by the US economy, our inflation rate should run close to theirs. Still not good.

Inflation can be controlled by reducing the amount of money chasing goods. Increasing interest rates helps as it reduces borrowing which reduces the amount of money chasing goods. The problem I see is the Canadian govt is borrowing cash and then pumping it into the economy -- more cash chasing goods is the best way to increase inflation.

So, it looks like this to me: BOC will stand on the inflation brake pedal by raising borrowing costs. KT will stand on the inflation gas pedal with enormous gov't borrowing and spending.

Hopefully, it doesn't end in a big puff of smoke.
 
were it only so simple :rolleyes: letting market forces dictate the course of human affairs is just plain stupid.
Finland on the correct track

Singapore too

“But what about Singapore?” Lessons from the best public housing program in the world

Also available in: Mongolian | Chinese As we approach the 9th World Urban Forum in Kuala Lumpur next week, one of the essential challenges in implementing the New Urban Agenda that governments are struggling with is the provision at scale of high quality affordable housing, a key part of ...
blogs.worldbank.org blogs.worldbank.org

theconversation.com

A century of public housing: lessons from Singapore, where housing is a social, not financial, asset

The approach to housing in the UK hasn’t worked for years. What could we learn from how it’s done in other countries?
theconversation.com theconversation.com

Letting predators loose on essential human needs is is simply brain dead. Let's have auctions on water supply ......:rolleyes:
 
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GreyGhost said:
Toronto is proposing a 49% increase in DC's. Yikes. That's another $20k+ per dwelling in fees.


www.blogto.com

Toronto may be raising the cost for developers to build new condos by a shocking amount

To some, the abundance of shiny new condos perpetually under construction in Toronto can certainly be infuriating, in its obvious ways. Never-endin...
www.blogto.com www.blogto.com
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The title should be ‘Raising fees to buyers’ as no developer will eat that additional cost out of the goodness of their hearts.

Municipalities the world over will be scrambling to find new revenue streams to make up for the COVID shortfalls.
 
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