The $75 K is good if you own your home. Renters are being hit with well above inflation increases and if a single senior has a non indexed pension plan the squeeze is on. Single women may do worse due to lower wages equating to lower pensions. Double whammey if they relied on dad for fixing stuff.
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COVID and the housing market
- Thread starter mimico_polak
- Start date
The $75 K is good if you own your home. Renters are being hit with well above inflation increases and if a single senior has a non indexed pension plan the squeeze is on. Single women may do worse due to lower wages equating to lower pensions. Double whammey if they relied on dad for fixing stuff.
The Grandkids are very very lucky!
48Connor
Well-known member
Looking at houses up by me. Look at this beauty of a garage! House is what I would call livable but needs just about ever room but the kitchen gone through. Really considering getting in touch with my mortgage broker and seeing if I can make this work. Listed at $650k, huge offers over asking aren't a big thing up here at least.
That is a beautiful garage. I know I can’t make that work lol.Looking at houses up by me. Look at this beauty of a garage! House is what I would call livable but needs just about ever room but the kitchen gone through. Really considering getting in touch with my mortgage broker and seeing if I can make this work. Listed at $650k, huge offers over asking aren't a big thing up here at least.
Where’s that at?
Just checked our old townhouses where we lived.
We sold for 535k 2.5 years ago.
Todays listings….970k and 800k….
What appears to be signs of a fire on the ceiling are concerning.Looking at houses up by me. Look at this beauty of a garage! House is what I would call livable but needs just about ever room but the kitchen gone through. Really considering getting in touch with my mortgage broker and seeing if I can make this work. Listed at $650k, huge offers over asking aren't a big thing up here at least.
48Connor
Well-known member
Check out this listing
A townhouse the same layout as mine (though not in my complex) just sold for $625k. If I could at least get $550k, I could make it work.
48Connor
Well-known member
Yeah I did see that. Looks old but you'd still want to go into the attic and check it out.
Wouldn't skip a home inspection on this one
Hideous paint colours, unfinished basement and carpet are gold.for a buyer. So easy to fix and so few people are willing.
48Connor
Well-known member
For sure. There is a lot in that house I think would push a lot of people away. Like why would you put the heat pump unit right in the middle of the front of your house?
Biggest thing I'd miss about my house now is the 9ft ceilings. I walk into a place with 8ft ceilings and it feels so small. Even worse my parents second floor has 90" ceilings. It would solve all my lack of garage space issues though, and that's going to be a big problem for me come June when the jetski arrives.
Renting is bonkers and it feels like it is getting exponentially worse. Can't find a affordable clean decent rental on a $20/hr job +- 3 hours from Toronto
Places like Picton and Niagara OTL/ collingwood ,are starving for workers to fill basic jobs . You could hardly buy and rent is going to the moon . You can’t work at most entry level positions and eat three meals a day.
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If retired with a fixed income and renting it may be a good idea to look outside of the GTHA or better even outside Southern Ontario, access to healthcare is a factor to consider in location but you can have both in Canada if you put some effort into the search. The advice also sound for people that are not retired (ie working) BUT they need to live where they can find work, which is harder if they have a career that is GTHA based. If the career is more portable or it is just a job then location opens some options.Renting is bonkers and it feels like it is getting exponentially worse. Can't find a affordable clean decent rental on a $20/hr job +- 3 hours from Toronto
I know many that have done this, in fact many that bought decent houses for under 200K as part of their retirement (some never owned a home before). Enough are doing it housing prices are also increasing in these areas.... The downside is you potentially move away from family and friends.... which may actually be an upside for some.
Are we going to see a rise in company housing? Its rough though as a typical minimum wage job may just cover the housing and then they need jobs two and three to eat.
Then you are a slave. Feudalism
Not necessarily. You need to run the numbers. Would you rather have a job that pays you 45k or 30k and an apartment? Company owners can have a stream of reliable tenants for their rental units and it makes for a more stable workforce. I dont like forced room and board as part of a job, but as an option is could work for both parties.
For a time I wanted to be a superintendent in a bigger building. Free apartment. My parents did it and it really helped us early in our time in Canada.
Parents bought a house and rented it out, as we lived rent free being the superintendents in a building. Lot of bullcrap...but it helped them get their feet set in Canada.
Talk to some of the supers in the 400 unit buildings. They get their door banged on 24/7 and usually miss the winning goal of a hockey game.
He didn't say it was easy but if it can increase your disposable income by thousands a month (by cutting your largest expense), it may be worth it. Alternatively, if looked at as hourly income, you may be better off working two full-time jobs and paying for your own dwelling.
Brother became super of his rental building 1st yr of Uni, rented out the other bedroom to two guys. Free apt and two guys paying rent . When somebody moved out he and I would paint the place and get $400 cash from the building owners . Usually done in one day. When they modernize the appliances, we had 30 fridges and stoves to get rid off , sold beer fridges for $100 and cottage stoves for $50 .
It was good money then.
For those willing to hustle a extra few hundred on a Saturday is easy cash .
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It was good money then.
For those willing to hustle a extra few hundred on a Saturday is easy cash .
Sent from my iPhone using GTAMotorcycle.com
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