Recent content by steve_toronto

Yes, it indeed confirms the discrepancy based on the average number of persons per new dwelling is 2.5. But if the number of residents per new dwelling is less than two, then the discrepancy disappears simply because , according to the statistics for City of Toronto, the population increases...

You are right as I did not realise the difference of periods. My explanation for the discrepancy between the population increase and dwelling increase stands. That is, the discrepancy can probably be explained by the fact that most new dwellings are condo types and thus are occupied with...

2011 Census: Population and Dwelling Counts - City of Toronto shows that the number of occupied private dwellings in City of Toronto grew from 979,330 in 2006 to 1,047,877 in 2011. That is, the increase is 7%, not 14%. Further, the population of City of Toronto increases 111,779, at 4.5%, with...

cdr108, I have just closed a mortgage with TD one week ago at 3.4% for 5 year fixed term. Yes, $150/m property tax for the unit is an actual number in the assessment for 2011, though it may be subject to increase. Note that the market price for a condo at CP1 at the last assessment is not as...

The number may be quite different: Take a newly sold condo in CP1 as an example: it is 580 sqft, sold around $380K. The property tax is $150, the condo fee is around $300. The rental for a similar unit is around $1650. Assume the investor puts 25% downpayment, and takes a mortgage with...

Just take a look at the following Bay Street condo 304 - 909 BAY ST It has 2 bedroom/2 washroom, one parking, and one locker. right at the downtown core with $409K price tag and $506 the maintenance fee. Yes, it is a little bit older than 5 years, but so what?

You may still find such properties in the DT core. For example, the price for the following condo, located at the college park, is just around $432 psf including both parking and locker: http://www.realtor.ca/PropertyDetails.aspx?&PropertyId=10367607&PidKey=2062084161

The following article provides a different view toward the debt-to-income ratio: http://www.cbc.ca/money/story/2010/12/14/f-debt-analysis.html Debt picture not so bleak: BMO The cacophony of concern over rising Canadian debt levels is overshadowing other encouraging personal finance data...

Then how does a landlord recover damage repair cost if needed ?

The cost and tax are supposed to be adjusted according to inflation rate by the calculator. 2% appreciation is way lower than the average from data collected in last thirty years or so.

Oops, I got a number from an alternative scenario. Yes, the mortgage payment should be $96,368 not $94,356. The property insurance is contained in the maitainess fee of $400 per month.

A question closely related to the very existence of a real estate bubble is to rent or to buy. I have believed it for awhile that Toronto is facing a real estate bubble or a correction to say least. Therefore, I was surprised to find out that even in today's market, one would be better off to...

I used to wonder the same question but not any more by the very fact that the condo price in Shanghai is twice as much as in Toronto while the average family income in Shanghai is just about one seventh of that in Toronto.

It seems that resale prices of Residences of College Park are significantly higher than its neighbors. Isn't it true that the rule is location, location, and location? The following examples are from the MLS: Bedroom SQFT Location Asking price 1+0...

Please keep discussion here apolitically.