Mikedezo44
Well-known member
I read many of the comments and see one thing in common with all of them. But I don't want to spell it out as I don't want to be branded a racist.
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COVID and the housing market
- Thread starter mimico_polak
- Start date
No need...I'm sure you're not the only one that saw it.
D
Deleted member 50930
Guest
permanently priced out of this country. Get used to it And/or move on.
A decade or more I was on a plane coming back from Winnipeg and chatting with a Pegger. When they asked me how people could afford to live in TO I said "We mortgage our youth". I don't know if that's enough anymore.
Interestingly that could solve your problem but just pushes someone else into your position. You aren't priced out of canada, you are priced out of southern ontario. Northern ontario, maritimes, etc are "affordable" but have employment complications. All the GTA people invading those locations are pushing the locals out. You switch from being the little dog to the big dog. Same fight, different winner.
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Don’t think you’re priced out of Canada…just the regions you want to live in within Canada.
It does suck for sure though. I guess if you get a WFH job forever it makes life easier as you’re not beholden to a geographic location….however…you need to want to be able to do that…and your employer must never need you back in an office.
WELP…..wife wants to look at this thing…
Looks good. Assuming it sells for approximately that price it seems like a better option than the addition.WELP…..wife wants to look at this thing…
Not legitimate ones though I bet
Baller. Should've charged you more for my xbox1WELP…..wife wants to look at this thing…
Thanks for your homebrew.Hope you enjoyed it!Baller. Should've charged you more for my xbox1
Been on the market for 41 days. Cousin lives in the area directly on Bloor and he loves it.
I’m still trying to talk him into selling me his house. Back split with 6 bedrooms….for a single guy and no kids.
Why has that house sat for 41 days?
No way a detached house like that which is appropriately priced should be sitting for that long in this market right now. From what I can see from my phone, that house has good bones.
Have you looked at comparables for that area?
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Nope. Literally first time I saw it today. We may go for a viewing just for kicks.
They tried it at 1.5 for a few weeks to generate a bidding war that didn't materialize. It's a few lots away from a tower and a few lots away from Dixie Road. Neither kills the deal but may scare some buyers away.
Most of the neighbourhood has been selling at ~1.3. One sold for 1.6 (fully renovated perfect for multi-generational families). My guess is they are focused on setting a new high price for the neighbourhood.
When we bought our house it was the most expensive side split in the area sold at 970k….I though ‘Frak what the hell did I do’
Wonder if I could set that record again lol.
I've got one of those here, looks nice but $2.5m in North ajax?
The tower IIRC is seniors lifestyle but I don't know about traffic noise from Dixie Road. The tower is a condo and there is little risk of redevelopment. Markland Wood, a bit east was mentioned as a possible alternate. Be carefull where in Markland as there are a number of rental buildings on under developed lots. Several have started the redevelopement process and while the residents protest the developers usually win. Expect parking, school and traffic issues in a decade.
A double wide trailer park house in Wasaga sold for $417K with $634 a month rent for the land lease. What the *&^*&^. Did the buyer not realize that the money is in the land? In Florida that building would be ~$20K with cheaper rent and no ownership of the land. Maybe if you had access to the water there would be some justification but beach is a 10 minute drive away.
I would love to see the details of one of these land-lease contracts. How controlled are the long-term rates? What happens if the land owner decides to sell the land for redevelopment? It seems like a disaster waiting to happen. If they either drive up the rate or tell you they are selling the land, it will cost you 10K to move your 20K house to other land and you are at minus 390K. I can't see banks writing mortgages for this as they have no real collateral.
I don't know, maybe each unit owns shares in the land and pays rent to maintain their shares?
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For ~550K, you can buy a similarly sized house a block from the water with property tax of ~2000. The $500 a month you save on rent would cover 100K of extra mortgage. Idiotic.
I would love to see the details of one of these land-lease contracts. How controlled are the long-term rates? What happens if the land owner decides to sell the land for redevelopment? It seems like a disaster waiting to happen. If they either drive up the rate or tell you they are selling the land, it will cost you 10K to move your 20K house to other land and you are at minus 390K. I can't see banks writing mortgages for this as they have no real collateral.
I don't know, maybe each unit owns shares in the land and pays rent to maintain their shares?
EDIT:
For ~550K, you can buy a similarly sized house a block from the water with property tax of ~2000. The $500 a month you save on rent would cover 100K of extra mortgage. Idiotic.
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A relative living in a trailer park in Manitoba was notified that the park was selling a strip of land along a major street. It is to become a strip mall.
The trailers there have been people's homes for decades. Moving the trailers isn't an option for many as they are so old they will fold up like wet cardboard boxes when lifted off their foundations. I doubt that the residents have the major six figures for replacements.
The Wasaga deal makes no sense. The land rent will continue to go up and the RV value wil continue to drop. Negative equity growth,
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