COVID and the housing market | Page 231 | GTAMotorcycle.com

COVID and the housing market

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.
Everyone wants their share of the crazy housing market. I am conflicted about DC's. In theory they pay for the services required by that dwelling. In practice (as evidenced by a 49% jump in all categories) they are set at the max the municipality thinks they can get away with (and since they have a monopoly on land development in their municipality they can get away with a lot). If they admit that they are just revenue instead of any attempt at accurate cost recovery, it would probably make sense to to change them to a percentage of sale price instead of a flat fee. If a developer cancels agreements and gets higher prices, the city gets a taste of that grift too.
 
Everyone wants their share of the crazy housing market. I am conflicted about DC's. In theory they pay for the services required by that dwelling. In practice (as evidenced by a 49% jump in all categories) they are set at the max the municipality thinks they can get away with (and since they have a monopoly on land development in their municipality they can get away with a lot). If they admit that they are just revenue instead of any attempt at accurate cost recovery, it would probably make sense to to change them to a percentage of sale price instead of a flat fee. If a developer cancels agreements and gets higher prices, the city gets a taste of that grift too.
Our taxes aren't hgh enough to pay the bills so DCs top up the tank for a while, another Ponzi scheme.

Freedom and freedom of choice aren't free.
 
Many towns allows industry to move in with massive tax incentives ( don’t pay any for xx yrs) to create jobs then have to fund the shortfall with DC funds . They need the subdivision and high risers to attract people to work at the tax free factory.
I don’t know how else you do it unless your Whistler or Muskoka and just charge 30k property tax on massive cottages .
When your economy is measured in housing starts , at some point things get very hard .


Sent from my iPhone using GTAMotorcycle.com
 
My wife and I are leaving Toronto. We started exploring alternatives 6 months or so ago, driven by lack of affordable housing options in the GTA. Two attractive job offers on my end, Winnipeg and Edmonton. Remote work on her end gives her flexibility with location. My work is generally specific to urban centres. Currently travelling out west for the week to get a better feel for both places. No significant ties to Toronto for us aside from work, so move is driven mainly by perceived quality of life. Time will tell if perception matches reality. We'd rather try something new while we're in our 30s than continue to rent in the GTA.
 
Last edited:
@bastak congratulations on the job offers! knowing that you already have work lined up will definitely make the move that much easier...I know nothing about either place to offer any insight, however what I do know is, that you can find happiness and peace pretty much anywhere...as long as both you and your wife are on the same page that's all that matters in my eyes...hopefully you'll feel at home in one of those locations and the two of you will be able to start this new journey on a positive note...best of luck and happy Easter! :D
 
My wife and I are leaving Toronto. We started exploring alternatives 6 months or so ago, driven by lack of affordable housing options in the GTA. Two attractive job offers on my end, Winnipeg and Edmonton. Remote work on her end gives her flexibility with location. My work is generally specific to urban centres. Currently travelling out west for the week to get a better feel for both places. No significant ties to Toronto for us aside from work, so move is driven mainly by perceived quality of life. Time will tell if perception matches reality. We'd rather try something new while we're in our 30s than continue to rent in the GTA.

Good luck!
 
I have relatives in the 'peg. They have three seasons, winter, flood and mosquito. Toronto has one season, attitude.

One of the things I enjoy about the place is the lack of Toronto attitude.

Someone suggested taking the front licence plate off your car. People will think you're American. They aren't particularly fond of Americans but hate people from Ontario. Just kidding.

I was staying with my cousin and she had to go to work. I was woken in the morning by her adult kids "You're coming with us". I started off at a high end comic book store, then a coffee at the Forks and ended up in a batting cage dodging 90 MPH fastballs.

If you're out there in the summer check out the Morris Stampede. There's lots to do if you look and you don't have to compete with 5 million people for a seat.
 
I looked at some recent zoocasa numbers in the area and they still tend to be over asking. The bid bait ones had higher "Over list" numbers and some were sold just below.

The RE prophets are suggesting a correction but maybe not.Hedging their bets.
 
Well, this is the first affordable listing I have seen in a while. It's not legal and your roommates would probably steal everything but it's a cheap place to sleep. I'm a little surprised landlord didn't go for bunk beds to double their income (or bed over lockable wardrobe so it sucked less to live there).

278810197_10224958925378671_7710232507988724171_n.jpg



EDIT:
Although illegal and there are concerns around fire safety, this type of housing could work well for people on very low incomes. They don't normally have many possessions (take what you care about with you). I think gov't is paying >$100/night (>$3000/month) for each room in entire hotels for homeless people. This type of accommodation is far cheaper and not that much worse in the face of limited budget and high need. Also spreads out people to avoid making a ghetto. Obviously many landlords wouldn't want to rent to people with very limited income but this landlord has already accepted that fact. I don't see people with stable living wage jobs taking him up on his offer.
 
Last edited:
My wife and I are leaving Toronto. We started exploring alternatives 6 months or so ago, driven by lack of affordable housing options in the GTA. Two attractive job offers on my end, Winnipeg and Edmonton. Remote work on her end gives her flexibility with location. My work is generally specific to urban centres. Currently travelling out west for the week to get a better feel for both places. No significant ties to Toronto for us aside from work, so move is driven mainly by perceived quality of life. Time will tell if perception matches reality. We'd rather try something new while we're in our 30s than continue to rent in the GTA.
I think we talked about this before, but having spent time in both cities, my preference would depend on whether you want access to mountains or prefer a more lively city life. For me, I'd choose Winnipeg over Edmonton as I find the people there very warm and welcoming and the city itself has more to offer. Edmonton has been less friendly to me over the years, but the road riding options are much better, even with the short season and crap asphalt. The Rockies aren't too far away and there are more tracks to ride, even if they're far from world class. For me, I'd take up MX and sledding in Manitoba instead, though.

I have relatives in the 'peg. They have three seasons, winter, flood and mosquito. Toronto has one season, attitude.

One of the things I enjoy about the place is the lack of Toronto attitude.
True about the seasons, but not sold on the attitude. I actually find that aside from driving, Toronto is a remarkably friendly city. Maybe less so in the 'burbs, but the city proper is quite a welcoming place. Same for Hamilton, as one of the best things about our neighbourhood is how it feels like an old school community, with folks watching out for each other and spending as much time in front yards as back yards. Contrasted with the Vancouver area, which is definitely a colder place socially, and it's been a welcome change for us.

As for Alberta, I've never lived anywhere with more attitude and chips on shoulders. Maybe it was just my bad luck, but I absolutely hated living in Calgary and couldn't wait to be done with the job I was working on there. I spent less time in Edmonton, so it was harder to get a feel for the place, but as stated above, I much preferred Winnipeg. The company I work for has its head office in Winnipeg, so I've spent quite a lot of time there over the years, and I really like the place.

Someone suggested taking the front licence plate off your car. People will think you're American. They aren't particularly fond of Americans but hate people from Ontario. Just kidding.
I've never had the sense that people were anti-Ontario in Manitoba. Anti-Toronto in a gentle way, perhaps, but most Ontario plates in Manitoba are from Thunder Bay and closer, so the locals don't pay much attention. Ontario plates in Alberta would be a different story...
 
Politicians and blind bidding. Feds are rumbling about killing it but have no authority to they cam just talk to provinces. In response RE agents are freaking out about removing the sellers "right" to sell your house as you want. They said blind bidding doesnt matter but as soon as hey may lose it, it becomes a right. Yeah. As expected blind bidding is driving up prices.

Douggie will allow an optional light to be shone on bids starting in a year. I will be shocked if more than a handful choose to go this way. You may get a couple people in a bidding war but you dont get the hail Mary at six figures above the next highest bid.

 
Well, this is the first affordable listing I have seen in a while. It's not legal and your roommates would probably steal everything but it's a cheap place to sleep. I'm a little surprised landlord didn't go for bunk beds to double their income (or bed over lockable wardrobe so it sucked less to live there).

278810197_10224958925378671_7710232507988724171_n.jpg



EDIT:
Although illegal and there are concerns around fire safety, this type of housing could work well for people on very low incomes. They don't normally have many possessions (take what you care about with you). I think gov't is paying >$100/night (>$3000/month) for each room in entire hotels for homeless people. This type of accommodation is far cheaper and not that much worse in the face of limited budget and high need. Also spreads out people to avoid making a ghetto. Obviously many landlords wouldn't want to rent to people with very limited income but this landlord has already accepted that fact. I don't see people with stable living wage jobs taking him up on his offer.
I wouldn't say that's cheap! The rent is for each bed, so $1260 for a single room in a ********?
 
Politicians and blind bidding. Feds are rumbling about killing it but have no authority to they cam just talk to provinces. In response RE agents are freaking out about removing the sellers "right" to sell your house as you want. They said blind bidding doesnt matter but as soon as hey may lose it, it becomes a right. Yeah. As expected blind bidding is driving up prices.

Douggie will allow an optional light to be shone on bids starting in a year. I will be shocked if more than a handful choose to go this way. You may get a couple people in a bidding war but you dont get the hail Mary at six figures above the next highest bid.

It could go either way really. Blind bidding someone may go in way over paying (say 100K over asking) or everyone could go in pretty close. It does depend on market I guess.

Totally open bidding, that guy that got beat out by $500 in a close call now ups his, so do the next guys.... or the guy that was willing to go 100K over to be sure now sees only 10K was required.

Or just go eBay style. Put in your top and it sells for $1 over the next highest. Then expect scam bids driving it up to $1 under your top!

On average it may help today and hurt at another point in time as the system adapts.
 

Back
Top Bottom