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Rime posted:If half the population of the country are now chinese millionaires, we have bigger problems. I'm sure we will be fine as trickle down economics will save us. In unrelated news, unlicensed dental care has never been more affordable in Vancouver.
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Feb 12, 2014 17:18
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computer parts posted:Only if you're racist. I think the "investor class" part is the problem, I mean, think about half your population having this guy as a role model. 
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Feb 12, 2014 17:34
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Condo buyers remorse : http://m.theglobeandmail.com/globe-...?service=mobile Parting shot : renters are scum
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Feb 12, 2014 18:15
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Is power super expensive in Ontario? $60 a month??? I'm in a bigger unit and it's about $50 every 2 months. Ahaha I love this article. richcondobuyer.txt Buys in a brand new condo tower and is shocked and upset other condo towers have gone up since. His unit has actually gone UP in value but not as much as some random idiot told her so he's mad. Pre-bought the unit before construction and was shocked there were delays. But now he's getting the word out with the amazing tip of "maybe actually do like a little tiny bit of research before buying a condo". "Mr. Barnabic advises potential buyers to check for power lines, busy roadways or railway tracks close to their condo. “Any of these conditions will make it harder for you to sell your unit later,” he writes, adding “check with the municipality whether there are any other buildings slated for erection in the proximity of the complex and whether they will obstruct the view from the unit of you’re interested in buying.” Really? This is a thing people have to tell others? Do people seriously blow hundreds of thousands of dollars without even thinking about where their condo is ? I mean I guess I know the answer. Victoria has tons of letter to the editor bitching about these same things. There was literally a letter complaining that they bought a brand new condo with a great view and a construction site next door which they enjoyed watching, but then to their horror the building they were watching grew taller and taller until it blocked some of their views! They were angry that the construction site they bought next to eventually had a building on it. Baronjutter fucked around with this message at 18:34 on Feb 12, 2014 |
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Feb 12, 2014 18:28
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Baronjutter posted:Really? This is a thing people have to tell others? Do people seriously blow hundreds of thousands of dollars without even thinking about where their condo is ? I mean I guess I know the answer. People can barely find their own assholes. Of course they blow hundreds of thousands of dollars without thinking about it. It's not their money, after all!
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Feb 12, 2014 19:08
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Baronjutter posted:Is power super expensive in Ontario? $60 a month??? I'm in a bigger unit and it's about $50 every 2 months. Depends on a) your local utility's rate rules (Toronto has a stepped rate similar to Vancouver), b) electric vs. some other form of heat. My townhouse in Vancouver (which I rent) has floor heating and electric wall heaters with a central gas fireplace. We run the fireplace hot (23.5 degrees) to try to limit how much the heaters run but we still get into the $200 range in the winter due to Vancouver's rate step above a fairly low use cap. I like my place warmer than most though. We could probably save a lot by setting the electric thermostats a degree or so lower than we do.
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Feb 12, 2014 19:42
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I've got free hot water/heat, so that explains the extra cost.
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Feb 12, 2014 20:23
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Baronjutter posted:I've got free hot water/heat, so that explains the extra cost. Well, it's not free as it will be baked into whatever rent or condo fees you pay, but that would definitely account for a big part of the difference.
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Feb 12, 2014 20:37
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Huge price spikes in Toronto housing prices are startling economists. http://m.huffpost.com/ca/entry/4775871
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Feb 12, 2014 22:29
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Cultural Imperial posted:Huge price spikes in Toronto housing prices are startling economists. quote:Toronto's Rosedale neighbourhood, one of the wealthiest areas of the city, has seen house prices more than double in the past two years. 
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Feb 12, 2014 23:54
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This is why we can't have nice things.
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Feb 12, 2014 23:58
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Also when you live in Victoria and it's like 10 degrees all winter your heating bill is going to be lower than someone in Ontario where it's -30 for six months of the year. We're paying in the $150-200 a month range with electric heating here in Whistler, we do keep the house warmer than most as well though, heat isn't included in our rent.
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Feb 13, 2014 01:49
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Heat here in the winter (Newfoundland) runs most people 3-400. One of the aspects of home ownership that no one thinks of is the extra cost to heat a huge space compared to a smaller apartment (or maybe if you are lucky you can get utilties included with rent).
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Feb 13, 2014 02:55
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In other news, Phil Soper, Royal Lepage President is loving dumb: https://twitter.com/YVRHousing/status/433783576866193408 http://business.financialpost.com/2014/02/12/how-canadas-new-immigration-rules-could-slow-high-end-real-estate-sales/ quote:Phil Soper, chief executive of Royal LePage, cautioned on the importance immigrants have played in the Canadian housing sector during this boom. If not, the renter will destroy the economy, our moral fibre and rape your children 
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Feb 13, 2014 03:09
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Somebody I know just bought a condo in downtown Toronto - University and Dundas - and is waiting on the keys to move in. Should I tell him to run?
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Feb 13, 2014 05:24
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Kafka Esq. posted:Somebody I know just bought a condo in downtown Toronto - University and Dundas - and is waiting on the keys to move in. Should I tell him to run? A bit late for that, no?
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Feb 13, 2014 05:32
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Kafka Esq. posted:Somebody I know just bought a condo in downtown Toronto - University and Dundas - and is waiting on the keys to move in. Should I tell him to run? Just say congratulations. If it does well, hey your friend is happy. If it blows up, schadenfreude for us. It's win win!
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Feb 13, 2014 05:47
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IF you want a house just buy it, if your friend/family wants a house tell them to loving buy it. Once everyone who wants a house has one, house prices will come down.
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Feb 13, 2014 05:51
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They've already bought the place. Nothing you say can change their mind at this point. In any case, the more people who buy now, the harder the market will eventually fall. gently caress your dumb rear end friend.
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Feb 13, 2014 06:21
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Cultural Imperial posted:In other news, Phil Soper, Royal Lepage President is loving dumb: renters are scum that destroy the neighborhood.
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Feb 13, 2014 06:46
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Throatwarbler posted:Once everyone who wants a house has one, house prices will come down.
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Feb 13, 2014 06:51
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No condo bust on the horizon bearholes http://www.cbc.ca/m/news/#!/content/1.2535951 Benjamin Tal says that there's enough demand to absorb 35000 new units in Toronto.
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Feb 13, 2014 22:05
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Cultural Imperial posted:No condo bust on the horizon bearholes ...he says, then talks about how it won't affect rental vacancy rates. Well, I'm convinced. If he says 17,000 new units can go on the market and remain unoccupied with no negative side-effects who am I judge him.
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Feb 13, 2014 22:11
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ocrumsprug posted:...he says, then talks about how it won't affect rental vacancy rates. It's not like you're a senior Economist with a major Canadian bank. Stfu amateur
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Feb 13, 2014 22:55
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Lol look at ottawa-gatineau's condo months of inventory. Check out @BenRabidoux's Tweet: https://twitter.com/BenRabidoux/status/434058035309203456
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Feb 13, 2014 22:59
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zerohedge thinks Canada just popped its housing bubble http://www.zerohedge.com/news/2014-02-12/did-canada-just-pop-its-housing-bubble I loving hate zerohedge but it's interesting they care.
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Feb 14, 2014 03:06
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Zerohedge claims the economy is crashing if a rooster failed to crow in the Sudan. I am unsurprised they would try and muscle in on the growing fear up here.
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Feb 14, 2014 05:11
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Rime posted:Zerohedge claims the economy is crashing if a rooster failed to crow in the Sudan. I am unsurprised they would try and muscle in on the growing fear up here. It's a pretty horrible scaremongering dumb investor website, basically the finance news equivalent of the National Enquirer.
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Feb 14, 2014 06:24
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etalian posted:It's a pretty horrible scaremongering dumb investor website, basically the finance news equivalent of the National Enquirer. For Austrian Economist assholes. Seriously they should start a dating website spinoff.
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Feb 14, 2014 17:31
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Cultural Imperial posted:For Austrian Economist assholes. Seriously they should start a dating website spinoff. Probably already covered here.
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Feb 14, 2014 17:45
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Cultural Imperial posted:zerohedge thinks Canada just popped its housing bubble quote:Did Canada Just Pop Its Housing Bubble?
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Feb 14, 2014 17:50
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Submitted by Tyler Durden
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Whiskey Sours posted:Sounds credible. It's almost like their target reader is one who enjoyed Fight Club just a little bit too much at an impressionable/formative age.
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Feb 14, 2014 17:53
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I found this article to be a particularly interesting example of why Germany remains the strongest economy on the planet, among other things. We could take a page out of their book. In World's Best-Run Economy, House Prices Keep Falling -- Because That's What House Prices Are Supposed To Do. VVV: As does not permitting their manufacturing & resource sectors to offshore to China, maintaining their status as an industrial superpower rather than a piss-making GBS threads example of a "Service Economy". Rime fucked around with this message at 19:45 on Feb 14, 2014 |
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Feb 14, 2014 19:39
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Their banks and financial sector robbing the rest of europe also helps.
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Feb 14, 2014 19:43
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Baronjutter posted:Their banks and financial sector Fixed
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Feb 14, 2014 20:26
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I find it remarkable that no one else remembers that it wasn't that long ago that deflation had rendered Germany the perpetual sick man of europe. Granted they were suffering the effects of reunification, it just seems everyone has forgotten that they used to be the Russia of the European Union.
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Feb 14, 2014 20:26
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5 straight months of sales decline. http://business.financialpost.com/2014/02/14/canada-home-sales/
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Feb 14, 2014 20:27
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and yet y/y prices have increased 9.5%  This loving country. People really believe they are not subject to things like "value" or "market forces." If that house is worth $500k, you better drat well list it for $700k, nobody seems to care if it sits on the market for a year. I'm apartment hunting in Toronto right now  and it's crazy ow people are willing to let their 500 sq ft condos sit empty for months instead of lowering the rent.
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Feb 14, 2014 20:45
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The house that was assessed at 450k and went on sale over a year ago at 649, then taken off the market for a few months, then back up at 669, then up to 689 is STILL unsold over a year later. Maybe if they just keep increasing the price someone will bite. The saddest thing is that someone WILL bite. Someone bought the house next to my parents assessed at about 800k for 950k. No reason for that price, bigger nicer houses went for less the same year. But idiot rich people from Ontario wanting to retire here loved the house and bought it and mention it being an "investment" in a booming market.
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Feb 14, 2014 20:49
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HipGnosis posted:I'm apartment hunting in Toronto right now This phenomenon makes no goddamn sense to me. You only need to look at the foregone rent as a function of the months empty to very quickly realize that that 10-20% price cut pays for itself very quickly.
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Feb 14, 2014 20:51
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