My Aug 2009 rate was 4.95 5-yr fixed. That was the employee rate at my wife's bank. Today's employee rate from wife's bank is 4.47, 48 basis points lower than 2009.
I expect rates have peaked and that BOC could hold, but wont. I suspect .25 jump this month then a long hold, maybe till early 2025. But you never know, BOC may well play some political games -- there is no fundamental economic need to do another raise. If JT starts pouring cash into the economy inflation will increase, which in turn forces rates higher.
The stuff I'm getting suggests 2025 will see some nice drops, maybe down to 2.5 by the end of 2025.
Unfortunately my crystal ball looks smoke filled right now.
Logic would say hold but we will see, maybe another quater point for ***** and giggles. Canada has one of the lower inflation rates in the G7. More info here.... including other measures.
Inflation is top of mind globally. Comparing inflation across countries, however, is a lot easier said than done. In this post, the CEA introduces a new model that harmonizes various measures of inflation, allowing for a more apples-to-apples comparison across G7 countries—or rather, apples to...
I'mnot sure if was sticker shock or time warp but I filled the 20 pound BBQ tank at Canadian Tire for $22. In the store the one pound bottles were three for $25. Now I realize why people risk blowing themselves up with fuel transfer adapters. My fuzzed brain recalls the bottles at about $3 apiece.
I'mnot sure if was sticker shock or time warp but I filled the 20 pound BBQ tank at Canadian Tire for $22. In the store the one pound bottles were three for $25. Now I realize why people risk blowing themselves up with fuel transfer adapters. My fuzzed brain recalls the bottles at about $3 apiece.
I could stomach a traditional investment tanking, hoping it would come back up some day - that wouldn't require me immediately having to come up with an extra 1500-2k a month to pump into a failing investment....all a wash in the end when the home price goes up (hopefully) I guess, but sure would be frustrating to watch people live in my house rent free.
It’s become a cascade , landlords are bumping rent to try and cover costs , tenants are moving to cheaper digs. Now buddy that was loosing $300 a month is losing $2000 a month .
The era of being a landlord and easy money may have passed on many properties. And the provincial scheme of building “ reasonable “ housing is a small dream , land costs what it costs , construction costs what it costs . There is no magic in this .
It’s become a cascade , landlords are bumping rent to try and cover costs , tenants are moving to cheaper digs. Now buddy that was loosing $300 a month is losing $2000 a month .
The era of being a landlord and easy money may have passed on many properties. And the provincial scheme of building “ reasonable “ housing is a small dream , land costs what it costs , construction costs what it costs . There is no magic in this .
Well, the closest thing to magic is simple math and people don't like the results. More dwellings per property and less square feet per dwelling both reduce housing prices.
It’s a hard sell here , they now say you need to earn $226,000 . to own a home in the GTA . There are lots of families not going to be in that bracket. And they want to be near family, or community , or a job , in the GTA .
More density on less land is the obvious choice , but the dream coaches have them set of 3bdrm 2bth. Or your not achieving.
It won’t be for me , but the next two generations behind me might need to get on the program
It’s a hard sell here , they now say you need to earn $226,000 . to own a home in the GTA . There are lots of families not going to be in that bracket. And they want to be near family, or community , or a job , in the GTA .
More density on less land is the obvious choice , but the dream coaches have them set of 3bdrm 2bth. Or your not achieving.
It won’t be for me , but the next two generations behind me might need to get on the program
It’s a hard sell here , they now say you need to earn $226,000 . to own a home in the GTA . There are lots of families not going to be in that bracket. And they want to be near family, or community , or a job , in the GTA .
More density on less land is the obvious choice , but the dream coaches have them set of 3bdrm 2bth. Or your not achieving.
It won’t be for me , but the next two generations behind me might need to get on the program
Nice if you have the frontage. In suburbia, due to the lack of public transit anyone over 18 needs a car. Mom, dad and two kids = four sets of wheels. In our neighbourhood garages are used for storing anything but cars.
In budget suburbia the small lot sizes mean short driveways and the extra vehicles get street parked. A thirty foot wide lot gives one in-front spot. It isn't the suburbia one envisions. Densification won't help.
Nice if you have the frontage. In suburbia, due to the lack of public transit anyone over 18 needs a car. Mom, dad and two kids = four sets of wheels. In our neighbourhood garages are used for storing anything but cars.
In budget suburbia the small lot sizes mean short driveways and the extra vehicles get street parked. A thirty foot wide lot gives one in-front spot. It isn't the suburbia one envisions. Densification won't help.
I don't know the rules anymore but a 30 foot lot with a single driveway should give a 20 foot parking spot. However there was a distance one had to keep from the driveway.
Depending on municipalty It appears that one must keep from two to five feet from a driveway but in a lot of places that isn't enforced. The five foot, front and back, only allows for a Smart car (~9 Feet)
It’s become a cascade , landlords are bumping rent to try and cover costs , tenants are moving to cheaper digs. Now buddy that was loosing $300 a month is losing $2000 a month .
The era of being a landlord and easy money may have passed on many properties. And the provincial scheme of building “ reasonable “ housing is a small dream , land costs what it costs , construction costs what it costs . There is no magic in this .
Friend is a super at a 14 floor building. Couple that have lived there for 16 years were paying $1435 a month, (rent control) 2 car spots in underground, & hydro included. Bought a house & moving.
Will be have full reno (about $25,000) and then go on the market for $2575. & hydro & $85 @ parking spot.
It’s become a cascade , landlords are bumping rent to try and cover costs , tenants are moving to cheaper digs. Now buddy that was loosing $300 a month is losing $2000 a month .
The era of being a landlord and easy money may have passed on many properties. And the provincial scheme of building “ reasonable “ housing is a small dream , land costs what it costs , construction costs what it costs . There is no magic in this .
Rents are stupid everywhere. A young family was renting a nice 2br house from me for 1200/mo. They bought a place so when they moved out I did a refresh, new laminate flooring, paint, refreshed kitchen with new doors and fixtures, re-tiled bath. I put it on the market for $1350, I'll bet I got 100 calls in 2 days, some offered 1600 over the phone.
Ended up renting it for 1300/mo to a young mine worker who paid cash for the whole year up front.
I always set rent below market price. It gets me the best tenant options... I have yet you get burned, in the end I make it back with low damage and zero collection/eviction problems.
Yes you are , what your seeing is the start of the new multi family concept . Your Benz has to sit out side , no your Benz needs to be outside ! Wait 4 bays and we all win! And let’s face it , many of us have 3 maybe 4 cars without extra family .
My buddy just built a 4 bay separate from the house that has a 2 bay , 12ft ceilings and two of the 4 are predesigned for hoists , concrete floor designed for the extra load and anchor points . I’d like to have Bob money .
Seems food prices are still going up. Noticed today at NoFills they have taken down price point signs in the meat department.
Also either Toronto snuck in another property tax increase for 2023, or I'm just lucky they increase mine for the next 3 instalments.
I thought they only could increase it once a year?
Also thier online bill systems kinda sucks. Kinda regret enrolling now.
Seems food prices are still going up. Noticed today at NoFills they have taken down price point signs in the meat department.
Also either Toronto snuck in another property tax increase for 2023, or I'm just lucky they increase mine for the next 3 instalments.
I thought they only could increase it once a year?
Also thier online bill systems kinda sucks. Kinda regret enrolling now.
The rate on the first bill is interim and they set the final rate/bill increase for the year on (by) the second one. It is normal for the first bill to be lower than the second but higher than the previous year... Of course they only consider it one increase for the entire year based on the value on the second bill, you just paid less on the first....
A high level example might be better... lets say your total bill last year was $5,000--over six payments. The 2023 first bill for the first three payments (half year) may be estimated based on a 5% increase (interim estimated $5,250) so the bill is three payments of $875 ($2,625 total). Next bill comes for the last three payments and the final rate is now set at 5.7% or $5,285....you have paid $2,625 on the first three instalments, so now you owe $2,660 or three instalments of $887. The "logic" is the increase was 5.7% year to year.
The rate on the first bill is interim and they set the final rate/bill increase for the year on (by) the second one. It is normal for the first bill to be lower than the second but higher than the previous year... Of course they only consider it one increase for the entire year based on the value on the second bill, you just paid less on the first....
A high level example might be better... lets say your total bill last year was $5,000--over six payments. The 2023 first bill for the first three payments (half year) may be estimated based on a 5% increase (interim estimated $5,250) so the bill is three payments of $875 ($2,625 total). Next bill comes for the last three payments and the final rate is now set at 5.7% or $5,285....you have paid $2,625 on the first three instalments, so now you owe $2,660 or three instalments of $887. The "logic" is the increase was 5.7% year to year.
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