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it's a good area...but depending on the state of the house, could go way higher...or closer to the 1.2 mark or so.
When I first left home I needed a somewhere to stay and eneded up looking at a place like that but with bunks. I passed on the opportunity. Eventually I ended up in a family home where I had my own room. IIRC they had a really cute daughter but never mess where you sleep.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).
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.
Maybe not rack rate but definitely not cheap. If a room is damaged, they also agreed to pay as if it was occupied until it was repaired. Guess which repairs were on the low priority list? Quote below is similar to other number I have seen. In the ballpark of $100 per room per night with a guaranteed minimum number of rooms.
torontosun.com
www.bnnbloomberg.ca
Wow, I will really sleep easier now. Why would a seller opt in if it means the highest bid could be lower than what it may have been with blind bidding?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.
Ontario to allow new home sales tactic that would change the bidding process
The Ontario government is introducing new real estate regulations that would allow home sellers to share bids on their property and disclose the details of competing offers.www.cp24.com
Why would you be sad about that? Your net worth is probably 3 times higher than it would have been had there not been a RE boom. There are hundreds of thousands of people now in Ontario alone that will never be able to afford a house.
That’s the sad part. Your parents are worth more to their kids dead then alive.
In my case, yes thats true. well, Moms house, yes. Her savings, no.
With proper planning, that's always the case. Even without proper planning, that's often the case as parents can become dependents. I'm not saying financial is everything (or even the most important thing) but if we are looking purely at financials, as people get older, they generate less money and require a lot more assistance in their lives (revenue down, expenses up). I've seen people enter retirement with an enviable nestegg only to feed it all to a retirement home and be forced to go to a nursing home by finances. It was crap.
Perhaps, but outside of housing no prices are really leaping up. So your moms 500k bungalow a decade ago isn't the same as 1.5mil. What if you already own a home? Early retirement doesn't seem so far off maybe.
It’s the same in most situations. I’m worth way more to my wife and kids dead than alive (financially of course).
Horrible way to treat those less fortunate.
For profit prisons, how could that go wrong?!?
It almost sounds like the caste system in India. Make a bunch of untouchables.
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