TheKingEast
Senior Member
Yup. I've bought so many properties since then too. Glad I didn't listen to the naysayers.
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Baby, we got a bubble!?
- Thread starter simuls
- Start date
dusk
Active Member
Oh I don't celebrate it. It's just funny how people (including the media) misunderstands the issue.
Federal Level
- Increase interest rates
Provincial / Municipal Level
- Completely reform and re-imagine zoning across all major and growing cities. Put the future of the city ahead of privileged nimbys.
All other policies are NONSENSE. I'm becoming convinced that the only reason other ideas are peddled is that it temporarily placates the masses.
Imagine hah.
slickpete83
Active Member
i understand everything and reasons why its happening , including interest rates and investing..
another one is all the development fees and taxes etc... just get passed on to the buyers at the end
just wait till we get all these carbon taxes...
takes governments so long to approve any new projects , by that time we get so many people moving here..
example my thread "Humberwood Heights" went into planning stage in late 2014 for city approval , its 2021 and still not built , they had so many delays with city meetings, governments etc...
by the time they started selling it was Oct 2018 , maybe they will finish in 2022/2023 that's almost 9 years !!!
and back in the late 80's or early 90's NDP in Ontario introduced rent control = no more investors/ builders wanted to build rental apartment buildings as it was too risky of an investment with rent control in place , if you look at Toronto almost no rental buildings were built in 90's 2000's etc... they are only starting to build now i noticed
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Undead
Senior Member
Made good on my promise this weekend: snagged a nicely renovated 2 bedroom unit in a well maintained older building. Made a hefty down payment and we'll be able to keep up with the monthly payments on an aggressive amortization schedule (we're a relatively high income household). Our family's third property overall. Pretty much all in on this damn bubble after so many years of extreme frugality and cheap ass savers' mentality.
slickpete83
Active Member
Considering buying a house in Toronto? | 22 Minutes
funny parody
I know someone who just sold a house in Guelph. They didn’t underprice, but there was still a bidding war and they did very well with the sale. So maybe Windsor?
christiesplits
Senior Member
$615,000 for a 2-br bungalow townhouse in Woodstock with an unfinished basement.
Source: Housesigma.com
Source: Housesigma.com
afransen
Senior Member
A bungalow townhouse seems like an oxymoron.
lenaitch
Senior Member
Big advantage for older folks and others where stairs can be a barrier.
Undead
Senior Member
Looking to flip my family's cottage north of Barrie for a detached in Barrie. Any tips for syncing the two transactions as closely as possible?
I would imagine things are selling quickly in Barrie, so find what you want, then list the one for sale and try for a closing date as close as possible to the one you are buying.
afransen
Senior Member
Ask for a longer closing on the cottage and go house shopping. Buyers probably would not mind closing on the cottage in late May or June.
p_xavier
Active Member
The best would close the house and if you can afford two mortgages sell the house after you move.
Undead
Senior Member
US Fed announced low interest rates until 2023. Confirms what we already knew, but RIP and good luck to new buyers. Prices will absolutely skyrocket between now and 2023. Think I'm going to hang on to the cottage for now until rates climb and I can grab that Barrie detached. Too many bidding wars going on right now like 2017 again.
slickpete83
Active Member
^exactly with interest rates , good luck to everyone
Toronto families in 2023 ,
vs.
Toronto Singles in 2023
Toronto families in 2023 ,
6 rooms into 1: morphing apartment packs 1100 sq ft into 420
vs.
Toronto Singles in 2023