A few idiots on both sides. How many empty seats were there?
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COVID and the housing market
- Thread starter mimico_polak
- Start date
The empty seats had more brain cells than those in attendance.
So a bunch of fart laden seat cushions make a more viable government than what’s in power.
Agreed
Back on track…
Oof….that’s gonna sting…
infotel.ca
Oof….that’s gonna sting…
Backing out of a real estate sale cost this B.C. couple $1M
They had a contract to purchase but pulled out when other people told them it was too expensive. That was a million dollar mistake.
infotel.ca
Live in an 11 million dollar place and renege on a 4.5 million place. If their bag of marbles is that big, no Gofundme, no tag day.Back on track…
Oof….that’s gonna sting…
Backing out of a real estate sale cost this B.C. couple $1M
They had a contract to purchase but pulled out when other people told them it was too expensive. That was a million dollar mistake.
Now if they put their $11 M place up for sale and the buyer did the same..........
Not new. A decade or more ago a client in Port Stanley commented that the locals were annoyed that Torontonians were making it difficult for the locals. UNLESS the local was selling. Pricing for starter homes doesn’t improve until you’re a couple hours outside the GTA.
We bought our first home last month in Spruce Grove, AB. Half hour drive west of Edmonton. Lack of affordable housing was the main driver for us leaving the GTA earlier this year. We're staying here in AB for the long haul.
Buying was easy. We explored different neighbourhoods, new one every weekend. Shortlisted the ones we liked, looked at availability within our budget - new builds and current. Saw a bunch of showhomes, a bunch on the market, got a feel for pricing and finally decided on one that ticked all the boxes within our budget. New community, quick possession duplex purchased directly from the builder. We're happy. The numbers are sensible and logical to us (1/4 of the price of a similar home in the GTA) - we saved enough for a downpayment such that the monthly cost of ownership is roughly the same as renting a 2 bedroom apartment here. We can see a path to retirement that does not rely on the value of our home ballooning. We feel that we can comfortably raise a family now, and that was the whole point in the first place...
7/10 of new buyers in this community are either from BC or ON according to the builder's sales manager. There's a general realization here that AB is profiting from the housing mess in the country - there might be people around that despise their new neighbours from BC or ON for driving prices up but it's hardly a crisis with so much supply (now it's got me thinking that the black poodle is trained to selectively pee in front of our driveway even though there's a fine looking fire hydrant just a few doors down). Whether it's the real estate market, economic activity or companies seeking labour/talent from elsewhere, the province is benefitting from this.
Aside from the interprovincial migrants, I've met a few at work that have recently landed in Edmonton as permanent residents directly from abroad (from Turkey, Trinidad & Tobago, Philippines). Why Edmonton? They all say it's because they think they'll be able to afford a house in time. I was speaking to the girl from Trinidad today - her husband is an electrical engineer, just finished a bridging program and recently found employment in his field. They're hoping to buy next year...
One thing I see here with respect to housing is that there are options - lots on the market and lots of new builds. Go to any builder's website and you find an inventory of quick possession homes currently available and a bunch nearing completion in the next 2-3 months.
I'm getting used to shoveling snow in -20 and -30 these days, putting that Alpinestars balaclava to good use and happy underneath after an eventful 2022...
Similar to @bastak’s case, one of my colleagues also just quit and is moving with his wife to Calgary primarily due to housing costs. They can’t catch up here as 2 young professionals so they made the call to move there in January and look for a house.
I expect to see more and more good people leave because they simply can’t afford a house in the GTA.
I expect to see more and more good people leave because they simply can’t afford a house in the GTA.
I know a couple of people that moved to Yellowknife. It was homesick city for a while but after a year or two they don't want to move back.
There's the smug GTA attitude of being a real estate millionaire. If the place meets your needs, has running water, flush toilets and power does it matter where it is or what its worth?
I love visiting relatives in Manitoba. Their house is their home, not an investment portfolio. Come on in. Put your feet up.
Goals are important but be careful of their effect on your happiness. I heard a lady say "I put up with that place for forty years but I got my pension." Today's money doesn't erase yesterday's misery.
One of my friends is thinking of moving to Aus. Told him the his million in equity would buy a very nice place here and a 1/2 million as a nest egg.
He's flying over in January for a test run ...not the best time of year here but Australia is big tho a coupleof cities have a similar housing cost problem ....the wages are significantly higher.
Don't know how you guys cope.
He's flying over in January for a test run ...not the best time of year here but Australia is big tho a coupleof cities have a similar housing cost problem ....the wages are significantly higher.
Don't know how you guys cope.
DownUnder
Well-known member
One of my friends is thinking of moving to Aus. Told him the his million in equity would buy a very nice place here and a 1/2 million as a nest egg.
He's flying over in January for a test run ...not the best time of year here but Australia is big tho a coupleof cities have a similar housing cost problem ....the wages are significantly higher.
Don't know how you guys cope.
The Aussie dollar is a fair bit lower then the Canadian at the moment too, so that 1m canadian goes a bit further.
It's been like that for a while. Everywhere.
We lived in Squamish for a little bit. Old logging community facing break-neck-speed gentrification. The flannel-shirt crowd despise the kombucha-hot-yoga crowd moving up from Vancouver, raising prices and property taxes for the locals.
Same story here in the interior. Lots of "red plate hate" (Alberta has red lettering on their license plates) for the oil money moving in and pricing out the long-standing locals. Vehicles with AB plates are routinely vandalized. Ontarians fly beneath the radar - not many of us here... yet.
Our new neighbours are from North York, we huddle together like refugees. Strangers in a Strange Land.
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