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COVID and the housing market
- Thread starter mimico_polak
- Start date
The hole in the theory is why would the parents be the buyers at 700K? Decent chance it's a random third party buyer that wins. Bank may lose a bit but Joe doesn't come out ahead in any way. I'm with you, hang on if possible or take your lumps and cut. Trying to walk the fine line between has many hazards.
Joes parents don't get to buy the house unless they are high offer, power of sale is ' accepting offers' . Canadian banks do not wish to own houses , they will give you enough rope to hang yourself, but the last thing they want is to deal with a foreclosure. They sell money , not houses.
The situation for Joe / John is hypothetical and could hypothetically work. It could also backfire.
There are people that get ahead by unethical means. If their actions become known ethical people usually keep them at a distance. They end up associating with others of that type. Not the neighbourhood I want to have around me. If enough people go the cheat-the-system route the system gets changed for everyone.
Sometimes karma takes time.
D
Deleted member 50930
Guest
Media Advisory - Government of Canada to Make Major Housing-Related Announcement in Ontario
The Government of Canada will be making a major announcement related to housing.
Oh boy, this can't be good
Since the politicians are involved, whatever they talk about won't be implemented until so far in the future that it is useless. Like that stupid 10% government investment in your first house (absolutely terrible idea btw) being capped at a 480K house. Then they announced that the bar would move to 780 or so. Bar hasn't moved yet. By the time it does, the new bar will still be below a useful number (and still a horrendous idea for the buyer, it is hard to find a worse government program to use).Media Advisory - Government of Canada to Make Major Housing-Related Announcement in Ontario
The Government of Canada will be making a major announcement related to housing.ca.finance.yahoo.com
Oh boy, this can't be good
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Deleted member 50930
Guest
^
I used to joke about building a wooden shack, farm some food and make moonshine in some rural boonies.
It feels less like a joke now
And I agree those government programs are strange
I used to joke about building a wooden shack, farm some food and make moonshine in some rural boonies.
It feels less like a joke now
And I agree those government programs are strange
Your going to want a very high yield product mix to grow @GEORGE, decent cropland is probably 30k an acre LOL, if your buying a 100 acre plot. And at the price of lumber it will be a very small shack
check with @mimico_polack about the moonshine, he seems to be versed in turning anything into booze.
check with @mimico_polack about the moonshine, he seems to be versed in turning anything into booze.
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Deleted member 50930
Guest
Wait for that GME stock to go to the moon....you'll buy it the next day!Well, there goes that idea
Stolen from a Barrie real estate agent. wtf. A condo up 50% in less than a year?
"?The condo we chatted about last week that sold for $405,000 in August of 2020 did firm up at $619,000 - that's $214,000 more than what they paid for it last year
?This week there were 7 residential subdivision properties that sold for over $1M (up from 5 sales last week); we'll continue to watch this trend"
"?The condo we chatted about last week that sold for $405,000 in August of 2020 did firm up at $619,000 - that's $214,000 more than what they paid for it last year
?This week there were 7 residential subdivision properties that sold for over $1M (up from 5 sales last week); we'll continue to watch this trend"
Goes to show you really don’t need real estate agents. Not in a hot market. Do some legwork and save $$$$.
bigpoppa
Well-known member
wait till they hear about insurancein a friends neighborhood in brampton (semi-detached) house that was sold for 450k in 2016 got listed at 899 and sold for 1.1
If you can convert it into bamboozle the government will buy every stick you can supply.
This is sadism. Detached in Toronto under $600 K
Seriously? A detached 2 BR on a 25 X 120 lot, Looks livable as is. Jane south of Eglinton. Not Rosedale but still....
Real Estate click bait
www.blogto.com
Seriously? A detached 2 BR on a 25 X 120 lot, Looks livable as is. Jane south of Eglinton. Not Rosedale but still....
Real Estate click bait
This tiny home in Toronto is for sale for under $600K
Finding a home at a reasonable price in Toronto is no easy feat. In February, the average cost to buy any type of home in Toronto was $996,000, wit...
www.blogto.com
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That’s ridiculous....lol!
We bought our house in the Fall of 2019 and already it’s value has skyrocketed! The house we sold in Guelph that we had for a little over 10 years increased in value by 230%.
The housing market is insane and I feel sorry for anyone not already in the market....
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