COVID and the housing market

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bigpoppa said:
was almost sure it was a scam to start a bidding war till I google mapped it, its legit

But again, unless you're friends with mad mike, probably thin employment options
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It's in town and probably has better internet access than the vast majority of rural ontario (musk is shaking that up hopefully). If you are working remotely and very very rarely required at the office it's a cool place to live. Personally if I was going up there, I would prefer to be out of town but then we are back to crap internet. Studded tires are allowed up there on cars. Studded tires on your street bike?
 
GreyGhost said:
It's in town and probably has better internet access than the vast majority of rural ontario (musk is shaking that up hopefully). If you are working remotely and very very rarely required at the office it's a cool place to live. Personally if I was going up there, I would prefer to be out of town but then we are back to crap internet. Studded tires are allowed up there on cars. Studded tires on your street bike?
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I imagine this is because roads out there arent as cleared as the GTA?
 
GreyGhost said:
It's in town and probably has better internet access than the vast majority of rural ontario (musk is shaking that up hopefully). If you are working remotely and very very rarely required at the office it's a cool place to live. Personally if I was going up there, I would prefer to be out of town but then we are back to crap internet. Studded tires are allowed up there on cars. Studded tires on your street bike?
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Just a wild guess on my part but I'd look at it before Elliot Lake.

I used to have an aunt in Kirkland and only visited her once. No one left of her family there.
 
bigpoppa said:
was almost sure it was a scam to start a bidding war till I google mapped it, its legit

But again, unless you're friends with mad mike, probably thin employment options
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Price sounds about right for the location. But you gotta live in Kirkland Lake.

Not sure I could live in a smaller town. I prefer anonymity in my life and don’t need the whole town knowing my business.
 
nobbie48 said:
Does a person from Kirkland Lake have to put on summer tires to drive south?
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Afaik no. People used to register cars up north and rip around the gta on studs. Obviously frowned upon due to road damage. If you truly lived up there and came down for a short trip, leaving studs on seems reasonable.
 
GreyGhost said:
@george__ how do you feel about Kirkland Lake?

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Move in ready!
56 McCamus Ave, Kirkland Lake, ON P2N 2J7, Canada
House for Sale by owner.
56 McCamus
$279,900
Move in ready! 3 +1 bedroom, 2 bathrooms, private laundry room on the main floor, sun room, open concept floor plan, crown moulding throughout, large fenced in yard with a double deck.
Full basement
Serious Inquiries only!
Call for a booking.
705-668-0336 (Paulo)

195533639_2976029069390769_2283552110838821078_n.jpg

195043498_2976029266057416_1713858521308788846_n.jpg
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That's so cheap for so much space
 
ChrisCBR said:
Back to what I was saying a few pages ago.
https://twitter.com/x/status/1401727141352517638


Chinese tycoon's son buys US$3.8 million Bugatti Chiron in Vancouver with dad's Union Pay credit card, complains about Canadian taxes | South China Morning Post | LINE TODAY

I wonder how many tens of billions of dollars has found its way its our RE market from Asia over the last decade and how much the primary residence exemption will cost us going forward..
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foreign money is a big player, foreign speculation yes, but lets not forget the homegrown speculators and realtors playing casino with essential housing as well
 
Conservatives managed to pass a motion to get the housing market under control, check money laundering and foreign money, every single liberal voted against it.

If you wanna know how the liberals keep getting elected, ask the realtors who they vote for.

https://twitter.com/x/status/1402737809929261061
 
bigpoppa said:
Conservatives managed to pass a motion to get the housing market under control, check money laundering and foreign money, every single liberal voted against it.

If you wanna know how the liberals keep getting elected, ask the realtors who they vote for.

https://twitter.com/x/status/1402737809929261061
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https://twitter.com/x/status/1402742900769894409

https://twitter.com/x/status/1402679915334574084

https://twitter.com/x/status/1402620538615443458

https://twitter.com/x/status/1402388626651160584
 
The typical price of a detached house in Guelph and Kitchener-Waterloo in Ontario and Chilliwack, B.C., is now more than $800,000, according to the Canadian Real Estate Association’s home price index, which adjusts for expensive purchases. That is about $200,000 higher than a year ago.
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www.theglobeandmail.com

Home ownership a ‘distant dream’ for many Canadians as calls for action to cool frenzied market largely ignored, RBC says

Many economists have been calling on policy makers to calm the frenetic housing market. Since the start of the COVID-19 pandemic, low mortgage rates and demand for single-family homes have pushed prices up
www.theglobeandmail.com www.theglobeandmail.com
 
george__ said:
www.theglobeandmail.com

Home ownership a ‘distant dream’ for many Canadians as calls for action to cool frenzied market largely ignored, RBC says

Many economists have been calling on policy makers to calm the frenetic housing market. Since the start of the COVID-19 pandemic, low mortgage rates and demand for single-family homes have pushed prices up
www.theglobeandmail.com www.theglobeandmail.com
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Well if your stonks hit, you can laugh at all of the homeowners with their 13% return while you are at 2000%.
 
I think for many "average income" Canadians owning a home will only become more difficult.
Sadly mortgage is just a funny way to spell rent with fewer rights..
 
Jampy00 said:
I think for many "average income" Canadians owning a home will only become more difficult.
Sadly mortgage is just a funny way to spell rent with fewer rights..
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If interest rates tick up much, interest payments plus property tax will quickly become "rent" that is painful. The number of houses already at $15K+ in property tax is crazy.
 
GreyGhost said:
If interest rates tick up much, interest payments plus property tax will quickly become "rent" that is painful. The number of houses already at $15K+ in property tax is crazy.
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In Ontario and I assume elsewhere condominiums have to do a reserve fund study every five years to make sure funds are available for major property maintenance items like replacement roofs, parking structure rehab, fire alarm upgrades etc. This avoids having special assessments when a major repair is needed.

Cities have similar upcoming expenses for ancient sewer and water lines, bridges, major road repairs, new fire trucks. Do they have the money on hand to pay for those or do they rely on selling some building permits that they normally wouldn't consider, just to make the problem go away?

What happens when there are no more building permits to be issued because there are A no feasible projects or B no one wants to move here so no new houses?

Where does the sewer repair money come from?

With the condo study the life expectancies of major building components are assessed and for example the million dollars needed for a new roof would be collected over 25 or 30 years. Similar for the parking structure etc.
 
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