COVID and the housing market

[nobbie48]

Isn't there one along Mississauga Rd near Belfountain? Pretty sure I saw it when riding in that area.

There's one just off Dundas between Dixie and 427. Being a permanent residence you can't easily turf them out. I would guess 150 or so trailers paying rent. I have no idea of what rent is there but a friend in a dump of a park in Nova Scotia pays $250 a month. If it's double that here, that's decent income per month. Then there's the growth of the property value when the owners get tired of it (5-10 acres). Just plow roads and do garbage pick up if the property is paid for.

I was in there decades ago and it seemed well kept. Owner occupied only, no rentals.

I recall seeing one for sale a while back and well into the six figures but most of that was for the right to live there. The trailers aren't worth a lot if they had to be moved. If a new owner decided to redevelop the land and could get away with it, the trailer owners are in housing trouble unless they like Elliot Lake.

 

[mimico_polak]

Don't think I've ever seen one @nobbie48 ... guess I'll pay more attention moving forward as I just can't see it.

 

[nobbie48]

Don't think I've ever seen one @nobbie48 ... guess I'll pay more attention moving forward as I just can't see it.

It's on the west border of the hydro cut, north of a furniture store and other buildings on Dundas.

I looked up their website and it has a bit of history. Part of that history being a place for people displaced from other parks by hurricane Hazel. My aunt lived in the park by Etobicoke Creek and Lakeshore. She worked at small arms across the road during the war. She lost her little trailer but didn't move into another one. I recall her having a lamp in the shape of a sailing ship but it was full of mud from Hazel.

The future is less certain as Peel Housing has become involved and there are discussions with regards to redeveloping the site which is bigger than I guessed. Another interesting, functional piece of Ontario will become a rabbit warren.

 

[Trials]

So you just own a bunch of trailer park spaces then rent it out like a airbnb?

You own the land, what you do with it will determine the taxes you pay on it. Timber it, rent it out,ride motorcycles all over it whatever. Run hydro and roads to it, you made it more valuable, add a good well and a septic system, now you have equity and you haven't even excavated for foundations yet. Trailer is an instant home on the spot until you build your mansion.

 

[GreyGhost]

You own the land, what you do with it will determine the taxes you pay on it. Timber it, rent it out,ride motorcycles all over it whatever. Run hydro and roads to it, you made it more valuable, add a good well and a septic system, now you have equity and you haven't even excavated for foundations yet. Trailer is an instant home on the spot until you build your mansion.

Are you in an unincorporated municipality? Most of what you listed is no bueno in most municipalities with zoning or building departments.

 

[Trials]

Are you in an unincorporated municipality? Most of what you listed is no bueno in most municipalities with zoning or building departments.

I live in an economically depressed and largely undeveloped area that time forgot. It's awesome.

 

[crankcall]

for you K-W folks , your the new kaboom spot for pricing! very average 1,200sqft bungalows at 800k and being listed at 729 and selling for a mil. Welcome to being an extension of the GTA pricing model, take sensible and double it.

 

[Deleted member 50930]

for you K-W folks , your the new kaboom spot for pricing! very average 1,200sqft bungalows at 800k and being listed at 729 and selling for a mil. Welcome to being an extension of the GTA pricing model, take sensible and double it.

It is wild here.

Rent is the same as Toronto now as well

I wonder what will happen when in class lectures come back..

 

[bigpoppa]

It is wild here.

Rent is the same as Toronto now as well

I wonder what will happen when in class lectures come back..

I've found rents to be about the same province wide, your mortgage payments vary depending on where you own a house though, in sudbury its cheaper to own than to rent, in toronto...its the other way around

 

[bigpoppa]

Are you in an unincorporated municipality? Most of what you listed is no bueno in most municipalities with zoning or building departments.

I live in an economically depressed and largely undeveloped area that time forgot. It's awesome.

and that, ladies and gentlemen, is how you answer a question, without answering a question.

 

[nobbie48]

for you K-W folks , your the new kaboom spot for pricing! very average 1,200sqft bungalows at 800k and being listed at 729 and selling for a mil. Welcome to being an extension of the GTA pricing model, take sensible and double it.

Will it hit a ceiling?

A jar of peanut butter will be priced at $3.99 because people don't want to see $4.00 and would walk away.

Is there a price where people will say Screw it, I'm not paying $XX for a coffee or gas or a pair of sox etc and do without?

BTW, if there any way of finding out what a detached fixer upper would cost in Guelph in the mid 1970's? Trivia investment thing with a relative.

 

[bigpoppa]

Will it hit a ceiling?

A jar of peanut butter will be priced at $3.99 because people don't want to see $4.00 and would walk away.

Is there a price where people will say Screw it, I'm not paying $XX for a coffee or gas or a pair of sox etc and do without?

well..
If that jar of peanut butter was essential (which housing is) and/or a spectacular speculative investment and your credit card company was
just giving everyone free money like candy, you would get what is the modern real estate market in ontario

The credit card company being the bank/mortgage lender

 

[Trials]

You know you live rural when you hear somebody say:
Gonna be cozy warm this winter, Pappy spread a nice thick layer of fresh hay straw on the floor last fall ?

 

[crankcall]

if you hear somebody say 'hay straw' in a rural setting they aren't rural folk, they are city folk. hay and straw are different.

 

[Wingboy]

for you K-W folks , your the new kaboom spot for pricing! very average 1,200sqft bungalows at 800k and being listed at 729 and selling for a mil. Welcome to being an extension of the GTA pricing model, take sensible and double it.

Real estate wanted to list ours for 625k 6 months ago. 1200 sq ft 2 storey. 2 car garage. 150x40 lot. Probably go for 800 today. Crazy, but still have to live somewhere?

 

[Trials]

if you hear somebody say 'hay straw' in a rural setting they aren't rural folk, they are city folk. hay and straw are different.

Do you ride the hay wagon or the straw wagon

 

[crankcall]

again you city folk, it was just a wagon

 

[crankcall]

Real estate wanted to list ours for 625k 6 months ago. 1200 sq ft 2 storey. 2 car garage. 150x40 lot. Probably go for 800 today. Crazy, but still have to live somewhere?

and there is the problem , you could put 8 in your back pocket, probably more, but you still need someplace to hang your hat.

 

[mimico_polak]

Real estate wanted to list ours for 625k 6 months ago. 1200 sq ft 2 storey. 2 car garage. 150x40 lot. Probably go for 800 today. Crazy, but still have to live somewhere?

Yup. Sure we could sell ours for 200-300k more than what we bought. But now I need to find a home and that will be smaller, more expensive, and in worse shape than what I currently have. So we will just stick to here for the time being.

 

[GreyGhost]

and there is the problem , you could put 8 in your back pocket, probably more, but you still need someplace to hang your hat.

If he could get away with a house with no special accommodations, 800k invested and renting for 2k a month is not a bad place to be. Should be able to cover rent with investment return. With his wifes situation, I dont know if that is a viable option. I would probably keep the house to keep my life simple. I wouldnt want to add more crap to my plate.