Baby, we got a bubble!?

[DarnDirtyApe]

Yeah, but can you go out to a restaurant downtown and get home on transit in a reasonable amount of time? How do your friends without cars visit you? These are all key characteristics required to appeal to Millennials.

I'm a 30-something with young kid and can't imagine living there. Kingston Road is a dump. Driving everywhere is a drag. Buses are for chumps. Sorry!

 

[Eug]

Yeah, but can you go out to a restaurant downtown and get home on transit in a reasonable amount of time? How do your friends without cars visit you? These are all key characteristics required to appeal to Millennials.

I drive, and yeah, I'm downtown quite often. On weekends it takes 20 minutes to get to Yonge from where I am. If we are meeting friends from say Mississauga or Etobicoke, we will meet downtown. If we are meeting friends from central Toronto or downtown, we can meet downtown, uptown, The Beach, Leslieville, or whatever. On a weekday, going home after dinner from downtown (ie. after rush hour) takes 25 minutes or less.

Transit? No, and that is IMO likely a contributor to that area's lower pricing. Something has to give.

I'm a 30-something with young kid and can't imagine living there.

To each his own, but I personally was sick of downtown and definitely didn't want to raise kids there. As for your 905 comment, I am confused. None of my close neighbours in my downtown condo complex with kids or thinking of having kids considered the 905 at all. They moved to places like Leslieville and Riverdale, whereas we moved to Scarborough.

Kingston Road is a dump.

Yes, much of it is crappy. No denying that. We don't do a lot shopping on Kingston Road near us, aside from basic stuff. There is an awesome butcher shop on Kingston Road east of us though, on the way to Guildwood. About 8 minute drive. If we want something better than a grocery chain butcher, we go there. Prices aren't as bad as Cumbrae's or White House Meats near my work.

For other shopping we do it west of where we are. The Beach, downtown, uptown near my work, Eglinton in Scarborough, etc. Speaking of Eglinton, there is a great Middle Eastern grocery chain there, called Adonis.

http://groupeadonis.ca/en/ontario/adonis

People from North York used to drive to Mississauga to go to this store, but now they drive to Scarborough instead.

For walking, we walk on the hiking trails through the park.

Driving everywhere is a drag.

As mentioned, when I lived downtown I use to drive a lot then too. A 10 minute drive sure beats a waiting for two streetcars in the cold, with a total travel and waiting time of 30 minutes. Carrying around 6 bags of groceries on the streetcar isn't the most fun either.

Buses are for chumps. Sorry!

I'm not a fan of buses either, but don't say that in the transportation forums here.

 

[Ex-Montreal Girl]

Yeah, but can you go out to a restaurant downtown and get home on transit in a reasonable amount of time? How do your friends without cars visit you? These are all key characteristics required to appeal to Millennials.

I'm a 30-something with young kid and can't imagine living there. Kingston Road is a dump. Driving everywhere is a drag. Buses are for chumps. Sorry!

If all your friends live in downtown condos and have no cars, forget ever seeing them unless you meet in a bar or restaurant.

It seems that millennials in certain big cities in the US are driving less. If you read this story, it debunks previous claims that driving is down among 18-34 year olds. However, it does show that in NYC, Boston, San Fran and other metro areas with half decent transit and safe downtowns with residential development, the kids aren't buying cars. I think Toronto is a model in that regard.

 

[Eug]

If all your friends live in downtown condos and have no cars, forget ever seeing them unless you meet in a bar or restaurant.

It seems that millennials in certain big cities in the US are driving less. If you read this story, it debunks previous claims that driving is down among 18-34 year olds. However, it does show that in NYC, Boston, San Fran and other metro areas with half decent transit and safe downtowns with residential development, the kids aren't buying cars. I think Toronto is a model in that regard.

For example, one area I sometimes like to go is the Dufferin area, but it can be a bit inconvenient by transit, depending upon where you live.

It gets boring if you always just meet within 20 mins walking distance of Dundas and Yonge.

 

[NorthYorkEd]

Carrying around 6 bags of groceries on the streetcar isn't the most fun either.

I'm not a fan of buses either, but don't say that in the transportation forums here.

We find that having the grocery stores in such close proximity (literally 2-5 minute walk), along with a local summer market, means we buy more fresh foods and only what we need for a day or two. The days of having a trunk load of grocery bags are gone

Agree about taking buses. I hate it. But our car now sits 6 out of 7 days a week in the garage as we walk everywhere we can, and catch the subway (also 2-5 minute walk) and ride streetcars when zipping around the city. I can't be arsed to either look for or pay for parking.

Anyway, this is not meant to criticize your location or situation; we all have our own needs and wants and are entitled to live wherever we please. Some folks crinkle their nose and poo-poo our spot, too. But for us it's great.

 

[Eug]

We find that having the grocery stores in such close proximity (literally 2-5 minute walk), along with a local summer market, means we buy more fresh foods and only what we need for a day or two. The days of having a trunk load of grocery bags are gone

Agree about taking buses. I hate it. But our car now sits 6 out of 7 days a week in the garage as we walk everywhere we can, and catch the subway (also 2-5 minute walk) and ride streetcars when zipping around the city. I can't be arsed to either look for or pay for parking.

Anyway, this is not meant to criticize your location or situation; we all have our own needs and wants and are entitled to live wherever we please. Some folks crinkle their nose and poo-poo our spot, too. But for us it's great.

You're in North York I presume. In many areas of North York, you can do that. However, in many areas of North York you can't. Many parts of North York are very car dependent as well.

Similarly, you can live in Scarborough and Etobicoke and be in locations where cars are not as necessary, although admittedly the more walkable areas in parts of Etobicoke are usually nicer than the ones in much of Scarborough. IMO most of the nicer parts of Scarborough are car dependent.

Downtown has improved a LOT in terms of grocery shopping though. It used to royally suck in many spots. The small grocers were terrible (aside from ones like Rabba), and large grocery chains were largely absent, until about 5-10 years ago.

I also find it becomes a lot harder to shop daily when you have little kids.

 

[TheKingEast]

Yeah, but can you go out to a restaurant downtown and get home on transit in a reasonable amount of time? How do your friends without cars visit you? These are all key characteristics required to appeal to Millennials.

I'm a 30-something with young kid and can't imagine living there. Kingston Road is a dump. Driving everywhere is a drag. Buses are for chumps. Sorry!

Have a friend that wanted a house so badly he moved to flipping Brooklin in the middle of nowhere. I see the guy a few times a year. Used to see him frequently since we both lived downtown. He's happy he has his house (which has dropped in value) but he gave up a lot for it. frankly, far too much. I could buy the world over there but I'd be miserable as hell. You can't put a $ value on location. Being able to walk to the grocery store, movies, restaurant, subway, shopping,etc in 3 blocks and get to work in under 30 mins without all the gridlock is something I would pay a premium for. And I'm not the only one apparently.

 

[Eug]

Have a friend that wanted a house so badly he moved to flipping Brooklin in the middle of nowhere. I see the guy a few times a year. Used to see him frequently since we both lived downtown. He's happy he has his house (which has dropped in value) but he gave up a lot for it. frankly, far too much. I could buy the world over there but I'd be miserable as hell. You can't put a $ value on location. Being able to walk to the grocery store, movies, restaurant, subway, shopping,etc in 3 blocks and get to work in under 30 mins without all the gridlock is something I would pay a premium for. And I'm not the only one apparently.

Well, moving to Etobicoke or Scarborough obviously isn't comparable to moving to Brooklin.

BTW, it seems your travel time to work is the same as mine. 30 mins... although I must admit that ever since they started the LRT construction on Eglinton it's increased to 35 mins or so sometimes.

 

[TheKingEast]

Well, moving to Etobicoke or Scarborough obviously isn't comparable to moving to Brooklin.

BTW, it seems your travel time to work is the same as mine. 30 mins... although I must admit that ever since they started the LRT construction on Eglinton it's increased to 35 mins or so sometimes.

But I can walk to work in 25 mins and if I wasn't such a slow walker..20. That time is consistent. I don't have to rely on transit having a perfect day in order to meet these times. The storm last week had 0 effect on me. Still took me 25 mins. Took my coworkers 2 hours (some of them).

 

[DarnDirtyApe]

If you have your life organized around the car then I can see how it works. My life (and I'd imagine that of most first-time home buyers these days) is organized around walking and transit. What if you want to go out to a bar after work, or stop in at a store with no parking somewhere? Can't do that if you have to drive home.

If I want to, I can drive downtown in 20 minutes, but I don't have to.

 

[Condo George]

http://www.cbc.ca/1.2931859?fb_ref=Default

 

[TheKingEast]

Welp. I'm just waiting for the big layoffs now.

 

[sentiant]

Interesting rate developments. i did not hear much about falling rates 2 years ago. The more conservative financial types were saying lock in to 10yr.rate @3.79% while you have the opportunity. boc rate is on a steady decline since.
does anyone feel the doom and gloom on the streets that the bank are forecasting?
Lower rates translates into higher real estate prices?

 

[TheKingEast]

Interesting rate developments. i did not hear much about falling rates 2 years ago. The more conservative financial types were saying lock in to 10yr.rate @3.79% while you have the opportunity. boc rate is on a steady decline since.
does anyone feel the doom and gloom on the streets that the bank are forecasting?
Lower rates translates into higher real estate prices?

Higher real estate prices for the short term....but the economy is tanking right now. Higher unemployment and rest assured that if the dollar keeps falling along with oil prices we will see more companies tightening their belts and that means layoffs. People can't buy if they don't have a job. The weakening job market would also create enough uncertainty for those with jobs to curb spending. Home prices drop.

 

[sentiant]

Maybe the shine will come off of real estate as an investment for the masses. Right now condos are the most accessible entry point into this market for an investor. Condos MAY be hit, but only if the end user starts to get jittery and avoids entry price condos will the market come down. I believe most investors are in it longer term. It looks to me like the price appreciation of condos has not moved much since '09 & the flood of new product is keeping the price escalation at a minimum(matching inflation).
House prices on the other hand, they may not accelerate as they have been, but a correction? Not likely with the vast majority being end users. I heard it said most Canadians will forgo dinner to pay their mortgage.
So there you have it. My opinion!

Biggest problem may be i was not there for the housing correction of the early 90s. All I've seen is a rising market