Daughters two story house in Hamilton sits on. 20X30 foot platform. Previous owner raised a family of five, one bathroom.
People’s images would be shattered if they had to accept that from a heartless government
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COVID and the housing market
- Thread starter mimico_polak
- Start date
People’s images would be shattered if they had to accept that from a heartless government
Mad Mike
Well-known member
In Northern Ontario, houses from 600-900sq are everywhere. Lots of families raised in those houses.
Expectations have gotten out of hand my first house was around that 800 square foot total bathroom only upstairs. Worked fine My neighbors had three generations in the same size house at the time.
Sent from the future
MIL's Condo sold 3 days after listing for what she wanted.
Our house goes up on Sept 16, a similar sales time frame would be nice.
Would love to have everything done before the snow.
I'm still amazed at how much we moved to storage, donated, or tossed out and we're still left with lot to deal with.
We're now at the "Misc." labelling stage for boxes as it seems we have a little bit of this and that left to pack.
This should be the last move I ever have to do and I am very thankful for that, it will also be nice to move in far less than we had to move out.
Our house goes up on Sept 16, a similar sales time frame would be nice.
Would love to have everything done before the snow.
I'm still amazed at how much we moved to storage, donated, or tossed out and we're still left with lot to deal with.
We're now at the "Misc." labelling stage for boxes as it seems we have a little bit of this and that left to pack.
This should be the last move I ever have to do and I am very thankful for that, it will also be nice to move in far less than we had to move out.
AllistonGT
Well-known member
Was raised in Bramalea "A" section from 1965. I was 7 weeks old. Two kids. 1000sq/ft bungalow with 1 bathroom. We never thought we had it bad.
My first home (as a child) was most likely 1000sq/ft or less. Bungalow with 1 bathroom and it was purchased for 10,000 by my father that had to renovate everything (place was a dump). Many of us "working class" probably lived in a small home or apartment and that was normal living as we all had to make end meet. Now the norm seems to be 2500+ sq/ft 4 bedroom house, with 4 baths and 8 cars in the driveway.
Way back them communications were about $40 a month for a dial phone, a pinch of long distance and some postage stamps.
We don't have cable and we're probably in the $175 a month range. Internet and two cell phones. Adjusted for inflation we're not bad off. Unlimited long distance saves on stamps. A cableholic could double those numbers, not wanting to miss the Nigerian tiddly winks semi finals.
What's a luxury home? Not trying to be an ass. When people start throwing around meaningless terms without qualification, normally they are trying to invoke a reaction and aren't too concerned about reality.
If 50,000 new 1M homes are built on the greenbelt, are those luxury homes? Does Nobbie sell his smaller home worth more in Toronto to move out and free up some money? Was the expensive Toronto home a luxury home or just a normal home worth a hell of a lot of money?
I think the answer substantially lies with axing of R1 zoning. Make every sfh home lot eligible for three or four dwelling units by right. Ignore any NIMBY neighbours. If Toronto wants to make money for "affordable" housing, substantially hammer any building permit for a dwelling over 1000 sq ft as that is mostly luxury, status and investment. Those that want it can pay. You want a 5000 sq ft max building envelope in Forest hill to replace the 1400 sq ft existing, no problem, DC of 1M. That 1M roughly pays for construction of a three-storey, four dwelling walkup (if you can get the land from somewhere). I still think some form of partnership is viable. Nobbie signs up, money from program replaces his house with four-unit walkup. He gets ground floor to live in (easy accessibility for aging population), one to rent out (retirement income), program rents out other two units to generate money for next project. When he wants to sell, he has two-units to sell that are worth roughly what his original house would have sold for. It cost him nothing, he got income and a house that is conducive to aging, three more families are housed, no green space destroyed.
Point 1: Who gets to use the back yard for the family BBQs
Point 2: Eventually your scenario will also run out of space and we'll have to cram in more again maybe 20 years from now. Why not leapfrog ahead a step or two and decentralize the country instead of milking the same three cows dry (Toronto, Montreal, Vancouver). That means hospitals and other infrastructure in the middle of nowhere.
Point 3: Culture vs racism. Multi family dwellings have a problem. I absolutely love a good chicken curry but I don't want to smell it every night. A PETA vegan won't like my endangered species BBQ wafting in their windows. Soundproofing againt party animals isn't cheap.
Point 4: One reason we don't want 1000 SF houses any more is that we are not cultured to share. Everyone gets their own room with space for a gaming centre. Two and a half baths minimum. A two car garage is needed for just the toys and parking is needed for four cars because there is insufficient public transit.
Your post points out the problem with the current cap gain principle residential culture. No one wants to lose their cash cow. It costs $15,000 a year to run a paid for $1,500,000 house but it pays $75,000 in tax free cap gain. Some seniors want to move into more suitable housing but think of the children and their inheritances.
What about granny selling the house and the money goes into a TFSA type account that the kids inherit without taxes?
If we're electing people with brains they could use the Senior TFSA money to build denser housing on granny's old lot. Of course every level of government will want its cut and if the government is involved the specs will make it more expensive because no one in the government wants to sign off on anything that isn't quadruple checked to meet the needs of any potential special interest group.
Of course people with paid for TO homes want to keep the status quo as it gives them the most options at the lowest risk.
There needs to be a serious think tank on long term alternates but it can't be run by types that have as their first thought "How do I make the most money on this?"
This is going to be a chitshow. If you don't pay GST on supplies does that mean there are no input tax credits? Workforce costs are exempt? How is a supplier to know if the project qualifies? Maybe this is a pay up front and get a rebate program? It will be interesting to see how many invoices are washed through the rental project even if the products may end up used elsewhere. What if I "intend" to build rental housing and after the project is complete decide to sell it off as condos?
toronto.citynews.ca
"The federal Liberal government is planning to remove the GST on all materials and workforce costs for the construction of new rental housing, according to a senior government source."
Ottawa to remove GST on new rental housing, ask grocers to stabilize prices: PM
The Liberals have seen slumping poll numbers that suggest Canadians believe the Conservatives would do a better job dealing with affordability and housing concerns.
toronto.citynews.ca
"The federal Liberal government is planning to remove the GST on all materials and workforce costs for the construction of new rental housing, according to a senior government source."
Smoke and mirrors? If I occasionally service a rental destined building under construction what are the hoops I need to jump through to qualify.This is going to be a chitshow. If you don't pay GST on supplies does that mean there are no input tax credits? Workforce costs are exempt? How is a supplier to know if the project qualifies? Maybe this is a pay up front and get a rebate program? It will be interesting to see how many invoices are washed through the rental project even if the products may end up used elsewhere. What if I "intend" to build rental housing and after the project is complete decide to sell it off as condos?
Ottawa to remove GST on new rental housing, ask grocers to stabilize prices: PM
The Liberals have seen slumping poll numbers that suggest Canadians believe the Conservatives would do a better job dealing with affordability and housing concerns.
"The federal Liberal government is planning to remove the GST on all materials and workforce costs for the construction of new rental housing, according to a senior government source."
Are tools for the job included in the legislation?
I don't know. Hopefully this is dealt with on the back end. If I need to bill and collect tax differently and somehow confirm that the project complies, I need to add time to deal with that crap. May not be much less money. If building submits their paperwork and occupancy permit for a rental building as well as a schedule of rents to feds and that gets them a rebate, that is cleaner.
He finally realized he is getting his ass kicked. Besides, this is words, he is good at those. Actions he is terrible at. I expect loblaws will call his bluff.
Edit:
As for stabilizing prices, that can happen but it isn't the desired result. Rapid escalation prior to the trigger date to pre-book profits. Then leave prices stable for the window, then jump again (like east coast gas).
I would think it was more like 6 people 1 bath. (Was at our house)
So a builder making rentals , gets a tax exempt . So my condo is now a rental, and in three / five yrs , whatever the split is , I announce I can’t make any money , I’ll bankrupt blah blah , I apply to convert to condo . Problem solved .
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Here's my problem understanding JT's "Solution", Follow the money.
A corporation is an entity that can live forever and has no conscience. Its sole purpose is to provide sustenance to its owner. The owner is free to sell it as they see fit. If it becomes publicly traded its value is based on its profit. Privately owned corporations can tolerate drops better than publicly owne ones.
Mess with profit and shares drop. That affects everyone's investments including RRSPs. The government could be forced to compensate in other ways which is money out of the taxpayers pocket.
How do you explain reduced profits to an American owned company? Damned Commies!
Do they worry about other sectors of the economy being asked to cut back next?
A corporation is an entity that can live forever and has no conscience. Its sole purpose is to provide sustenance to its owner. The owner is free to sell it as they see fit. If it becomes publicly traded its value is based on its profit. Privately owned corporations can tolerate drops better than publicly owne ones.
Mess with profit and shares drop. That affects everyone's investments including RRSPs. The government could be forced to compensate in other ways which is money out of the taxpayers pocket.
How do you explain reduced profits to an American owned company? Damned Commies!
Do they worry about other sectors of the economy being asked to cut back next?
Didn't his dad try something similar? Price controls = wage controls something something...
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