Or you do like my neighbour. Extend your driveway, and then get in hot poo with City of Mississauga when they come around and tell you that you encroached onto their property.
Fun times.
COVID and the housing market
- Thread starter mimico_polak
- Start date
Fun times.
I drove through a new subdivision yesterday. Alley towns with rear garages and everything from garage to road paved. Someone had parked a Class 8 truck in front of their garage. F me. Their neighbours must love them. It fit (barely) but visibility was obviously rough for everybody else and depending on where the neighbours parked, the truck may not be able to make the turn to get out.
Amateurs. Old neighbour that sold his house got in trouble due to his 30ft trailer. So he cycles them through friends in the area.
Bought an Airstream for 200k only to find out it's not for him. It's for sale still (I think) for 110k ... oops.
Well he also worships at the throne of Bernier so I don't feel bad for him.
My old neighbour had a tarped tent trailer in his driveway. They use it once or twice a year. He got in trouble once and had to move it to storage as by-law said a week before using it was fine but he wasn't supposed to store it in driveway. When he brought it back the next year, I don't think it ever went to storage again. It's still in his driveway. Come to think of it, he had a small aluminum boat in his garage on a trailer. There is zero chance his wife would pull a trailer so I suspect they tow both trailers behind the truck to go camping. He's a cop so a badge flash probably avoids tickets.
Not a bad plan but impossible for the libs. It's both easy to implement and has immediate and measurable impact. That goes against their core beliefs of the cloak of secrecy over dumpster fires of money with no correlation between money spent and advertised goal.
Tl: dr
Currently, new Housing over under 450k gets a gst rebate, that is close to zero dwellings in Canada. Limit hasn't been revised in decades. Moving limit to something like 1.5M immediately reduces after tax price of new houses and therefore makes resales.slightly cheaper as they don't get dragged up by higher new prices.
Tl: dr
Currently, new Housing over under 450k gets a gst rebate, that is close to zero dwellings in Canada. Limit hasn't been revised in decades. Moving limit to something like 1.5M immediately reduces after tax price of new houses and therefore makes resales.slightly cheaper as they don't get dragged up by higher new prices.
I prefer to look at federal income as one collective thing. Taxes, fees, claw-backs are all government income. They may give with one hand but take back with another.Not a bad plan but impossible for the libs. It's both easy to implement and has immediate and measurable impact. That goes against their core beliefs of the cloak of secrecy over dumpster fires of money with no correlation between money spent and advertised goal.
Tl: dr
Currently, new Housing over under 450k gets a gst rebate, that is close to zero dwellings in Canada. Limit hasn't been revised in decades. Moving limit to something like 1.5M immediately reduces after tax price of new houses and therefore makes resales.slightly cheaper as they don't get dragged up by higher new prices.
Lots of noise today about a 'super sized' rate drop tomorrow! Let's see what BoC comes up with.
I'm expecting 0.5% drop, not the 0.75% that I've been hearing the last day or two.
Inflation came in lower than expected, gas prices down, economy down, immigration slowing...lot of signs are pointing to a much worse situation than the news would have you believe.
I'm expecting 0.5% drop, not the 0.75% that I've been hearing the last day or two.
Inflation came in lower than expected, gas prices down, economy down, immigration slowing...lot of signs are pointing to a much worse situation than the news would have you believe.
If you remove mortgage interest from the numbers, inflation was even lower.
So it's MUCH worse than the 1.6% they claimed? Oh boy...maybe 0.75% isn't out of the realm of possibilities!
It's about 1.2% excluding mortgage interest. I don't expect 0.75. They have proven to be less than competent as well as less than clear thought. Puppets that pretend to be independent.
Well let's see what happens tomorrow then. My payments have gone down from 1264 biweekly -> 1175 biweekly right now.
Mad Mike
Well-known member
This doesn't surprise me. JT has zero fiscal responsibility - I'll bet he can't balance his own chequebook. Our Bobbleheaded Finance minister has proven that finance isn't her strong point, and BOC Gov Tiffy has turned out to be a political servant rather than a servant of the people.
None of this is surprising, it's all grade 9 economics.
When JT flooded the market with cash, economists warned about inflation. He dismissed their concerns and guess what we got.
While inflation was catching fire, BOC continued to print cash while resisting interest rate hikes. They held too long and inflation starteedd to skyrocket. They needed both feet on the brakes to slow it down - that's why interest rates got jacked so high so fast. Rapid changes to rates are painful to consumers and businesses owners.
To cool inflation gov'ts have 2 tools: 1) Roll back of gov't spending and 2) raising BOC interest rates. Both will cool inflation, but what you don't do on one side you must do extra on the other. Instead of taking some bloat out of our federal budgets, the Libs and BOC relied solely on raising interest rates. This was punishing to consumers, and businesses, and had a chilling effect on the economy.
Now the BOC has another problem - the economy is sputtering badly. Savage interest rates cuts are now doing double duty -- slowing inflation and slowing decline in the Canadian economy.
I think the next few years are going to be tumultuous.
Once again, JT single handily caused global inflation! The western world must to so ****** at us.
Who started the global situation depends on your conspiracy theory. However Canada should have been wealthy enough to have a bit more immunity.
Another fire in the same subdivision. Unoccupied, move in ready. 3 car garage house in subdivision, fire chief estimates damage at 2.5. Wtf. How is a single large but normal house without land 2.5? Is the builder storing 1M in copper in the garage?
barrie.ctvnews.ca
Suspicious fire at newly-built home causes $2.5 million damage
A fire that caused $2.5 million damage at a newly constructed house in Adjala-Tosorontio early Tuesday morning is being investigated as suspicious.
Mad Mike
Well-known member
Global inflation? Take a look around the world. Yes there was some, but we got it pretty bad.
Our inflation was:
1. Permanent. Prices ratcheted, they were not transient except for fuel.
2. Did not get offset by wage increases. This will happen in the public sector, not in the private sector.
3. Came with an excruciatingly painful cost to consumers as it was cooled by increasing finance costs at a crippling rate.
Those are not close to Canada for our global Competitors.
Four years ago the residents were ground hogs. The property was a farm field. Pre-build panic buying to the max followed by the interest rate issue. It would be interesting to see the time line of the transactions overlaid on the economy.Another fire in the same subdivision. Unoccupied, move in ready. 3 car garage house in subdivision, fire chief estimates damage at 2.5. Wtf. How is a single large but normal house without land 2.5? Is the builder storing 1M in copper in the garage?
Suspicious fire at newly-built home causes $2.5 million damage
A fire that caused $2.5 million damage at a newly constructed house in Adjala-Tosorontio early Tuesday morning is being investigated as suspicious.
I don't laugh too hard at the buyer. We just missed the early 80's 22% bullet.
While the interest rate rocket was hard to predict with accuracy (especially when faced with the official BOC position of low rates are here for the long run), it was easy to see that prices in greater GTA were nuts. Townhouses outside barrie were selling for 1.3 which was similar to the price of a similar town in Vaughan. wtf. I wouldn't want to live in Vaughan but it should have a price premium based on proximity to Toronto and transit. Paying 2M+ for houses in cookie cutter subdivision hell in the middle of nowhere is insane. It's trivial to replicate that model thousands of times and nothing makes that house special. Sure, it's housing but there is nothing to justify that price (other than people were dumb enough to pay).
The house of your dreams on the lot from your nightmares.
