I think she’s actively breaking them. CCB is geared to income. Seems she’s doing fine, just wants more.
|
|
|
COVID and the housing market
- Thread starter mimico_polak
- Start date
I’ll agree she’s a scammer, my point is “we” let her . Whoever qualified her needs retraining, but in defence of whoever vetted the application, it’s a lifestyle choice for some applicants, gaming the system and first card on the table when confronted is the race card .
Sent from my iPhone using GTAMotorcycle.com
Sent from my iPhone using GTAMotorcycle.com
We need some pushback on the race card. Apply it falsely and get sued for slander. A couple hundred thou should shut some up.
Fourplex in st thomas bought for 600k in June. 50x50 ft lot. Rear wall of foundation just collapsed. Good chance it gets the wrecking ball. It would be interesting to know how this happened. Presumably there was a home inspection less than six months ago. 150k per door for a rental is viable. Insurance won't be happy with a huge bill less than six months into a policy.
68 Hiawatha st
68 Hiawatha st
Wow....that's a good price...if the building didn't fall down!
Our 6 plex was 850 so that's about that ballpark / unit. Which is realistic and possible, but not in this climate. Not for my wallet anyway.
I'd look for another 3 plex for sure. But the amount they're going for is insane.
One that collapsed looks like double brick. Could they get six or eight units on a 50x50ft lot? Back to red tape. Apparently existing building had two parking spaces, I will be shocked if municipality doesn't require new building to comply with everything including setbacks and parking requirements (which basically makes that lot useless for dwellings).
The reason American rednecks don’t like socialism. They can be very generous when they know the recipient isn’t working a con.
The catch 22 is that accommodations could be built but the land restrictions would dictate a heavily engineered design and therefore very expensive to build.
In Toronto the land price could work in some areas. That bus may be elsewhere on its route but it will return.
A developer asked my opinion on a freight elevator for parking garage access as he had an option on a small lot that didn’t have room for a ramp.
The damper on that was all operators of freight elevators have to be licensed.
There are condos in Toronto with car stackers as they didn't have room for ramps and parking. Terrible in a power outage as only one vehicle per stack is accessible.
Could work to slow down bike theft. I recall a stacker garage at Yonge DUNDAS square
I don't think the stackers I have seen would be happy with bikes. To slow down bike theft, caged spots could work but very very few condos go this route.
We have a mortgage up for renewal and are debating on getting a 2 or 3 year fixed for now and then if the rates come down enough over the next couple years then switch over to a variable or another fixed rate.
If you were to get a mortgage today, would you go with a variable or a fixed?
If you were to get a mortgage today, would you go with a variable or a fixed?
I would go with a 3 year fixed UNLESS the variable option was close to it or lower.
All indications are pointing toward rate reductions in 2024-2025 but obviously it’s not a sure thing as the economy is artificially chugging along.
I renew in feb. Probably going variable. The offers yesterday were prime minus 0.53 and 5.47 fixed for 5 years. At prime minus .53, I need about 1.2% rate cut before I am breaking even (sort of, higher rate at the beginning means more interest on larger balance).
Edit:
Rates for 2/3/4 are 6.21/5.56/5.46. Prime minus 0.53 is 6.67 now. I wouldnt even consider two years at 6.21, all signs point to a drop of about 1.5% by end of 2024. I just don't see how you can come out ahead with that one. 3/4/5 year aren't terrible id you want more stability in your life.
I have been checking rates for a few months. Prime minus is improving with time. Was 0.13 when I started checking in october. Minus 0.48 dec 19. If you have an insurable mortgage, apparently minus 0.9 is feasible.
Last edited:
Doesn’t make my Prime - 1.3% seem all that bad then. I’m sure as hell not locking in now.
Currently at 5.9% and while it blows…ain’t the end of the world.
If rates get back to the 3-4% range I may consider locking in, but not sure and have until 2027 to decide.
Thank you both.
It's not a big mortgage we are taking out, but it is a refinance on our condo, so the rates we are being offered are a bit higher due to it being a rental property. This would take effect end of January, so I'm hoping the fixed and variable rates will drop again before then.
A couple days ago we were offered:
5yr @ 6.02%
4yr @ 6.17%
3yr @ 6.26%
It's not a big mortgage we are taking out, but it is a refinance on our condo, so the rates we are being offered are a bit higher due to it being a rental property. This would take effect end of January, so I'm hoping the fixed and variable rates will drop again before then.
A couple days ago we were offered:
5yr @ 6.02%
4yr @ 6.17%
3yr @ 6.26%
Let me know if you'd like another option from MCAP as I have a great broker there.
Can confirm, mp's guy is straight up and helpful. I talked to him and he basically told me to stick with scotia as he couldn't beat it.
Thanks - we are also with MCAP for our primary house through a great broker. We checked in with him and he said it's not worth it to switch away for a short term for the condo. And we aren't ready to commit for longer term right now with anyone.
|
|
|
|
|