Canada Housing/Debt: Trust me, I'm a landlord.

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

Marijuana Nihilist: Aug 27, 2015; by Smythe

Baronjutter posted:

-Voted liberal for the first time in his life because Justin promised to lower middle class taxes. Even though in our riding there was no liberal candidate he threw his vote away liberal because "I'm taxed to death and the government doesn't know how to spend my money and Justin said he'll lower my taxes!" then got really upset after the election when he learned that the "middle class tax breaks" won't effect his working class pension income. "I guess I'm not middle class!" he said with an offended tone. "I guess I should have done my research"

I wonder how many Canadians realized that they're working class schmucks instead of part of the *~middle class~*

# ? Jan 3, 2016 08:03

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# ? May 21, 2024 23:48

Professor Shark: May 22, 2012

My girlfriend and I have a running joke where we commend ourselves on our "Upper Middleclass" status while worrying about our student debt and occasional lack of money

# ? Jan 3, 2016 15:01

namaste friends: Sep 18, 2004; by Smythe

Baronjutter posted:

So I don't usually talk finance or politics with my dad. He's a life long union man and NDP voter, but a bunch came out last night that left me.. disappointed.

-Mutual funds and "investments" are all dangerous scams, the world economy is all "manipulated" and stocks aren't real things that mean anything. Real-estate is a risk but much safer than investments.
-Even if you buy a house and it loses its value you get something back when you sell, when you rent it's all down the toilet.
-What's an opportunity cost? Investments aren't an opportunity they're a risky scam.
-Voted liberal for the first time in his life because Justin promised to lower middle class taxes. Even though in our riding there was no liberal candidate he threw his vote away liberal because "I'm taxed to death and the government doesn't know how to spend my money and Justin said he'll lower my taxes!" then got really upset after the election when he learned that the "middle class tax breaks" won't effect his working class pension income. "I guess I'm not middle class!" he said with an offended tone. "I guess I should have done my research"
-Victoria and Vancouver can't be bubbles because everyone in the world and wants to live here. Maybe lovely places like Toronto or Kitimat will crash but not here because "rich chinese", everyone wants to move here, best place on earth.

Dad

Does your dad understand what stocks and bonds actually are? Does he understand what a mortgage, or any other form of personal consumer debt is? Does he understand what happens when there's a rush for the exits with stocks and bonds vs real estate (aka liquidity)?

Finally can your idiot loving moron dad do simple math and figure out how much money he'd actually get back if he were middle class?

# ? Jan 3, 2016 16:20

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Cultural Imperial posted:

Does your dad understand what stocks and bonds actually are? Does he understand what a mortgage, or any other form of personal consumer debt is? Does he understand what happens when there's a rush for the exits with stocks and bonds vs real estate (aka liquidity)?

Finally can your idiot loving moron dad do simple math and figure out how much money he'd actually get back if he were middle class?

I don't want to speak for Baronjutter, but my guesses are:

1) No
2) No
3) No
4) No

Which is basically average for Canadians.

# ? Jan 3, 2016 16:23

namaste friends: Sep 18, 2004; by Smythe

According to this article a household making over 200k/year will pay about $3000 more in income tax.

oh noooo i can't afford this i'm ~~taxed to death~~ already!!!!

# ? Jan 3, 2016 16:28

Postess with the Mostest: Apr 4, 2007; Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

Cultural Imperial posted:

According to this article a household making over 200k/year will pay about $3000 more in income tax.

oh noooo i can't afford this i'm ~~taxed to death~~ already!!!!

That's not what the article said at all, come on man.

# ? Jan 3, 2016 18:04

Wistful of Dollars: Aug 25, 2009

PT6A posted:

I see that (or a very similar lifted truck) parked there all the time. I can't imagine why you'd drive such a thing around downtown on a regular basis, but he (I'm guessing it's a he, even if the lift means there's likely no evidence of external genitalia) also I'm concerned you're stalking me because that's a picture of my building

I have friends who live in that building.

# ? Jan 4, 2016 00:09

namaste friends: Sep 18, 2004; by Smythe

I somehow missed this story until it popped up on my google news feed today.

http://www.bloomberg.com/news/articles/2015-12-29/real-estate-blues-bring-6th-straight-drop-in-canada-confidence

quote:

Real-Estate Blues Bring 6th Straight Drop in Canada Confidence

Canadians are starting to lose faith in their housing market.

A gauge of real-estate sentiment dropped by the most in three years last week, according to telephone polling by Nanos Research Group. That dragged the broad consumer confidence Index down for a sixth week, as the recently elected Liberal government introduces measures to restrict mortgage availability in larger cities.

Younger, heavily indebted families in Vancouver and Toronto pose a risk to Canada�s financial system because they may become unable to meet obligations in the event of another economic shock, Bank of Canada policy makers said this month. Finance Minister Bill Morneau identified similar problems the week before when he imposed tighter mortgage regulations to address �pockets� of overheating home prices in cities such as Toronto and Vancouver.

Those messages seem to be sinking in. The share of respondents in the Nanos survey who see an increase in local real estate prices dropped 3.9 points in the survey period through Dec. 24, the biggest decrease since Nanos began weekly polling in May 2013. The reading of 31.5 percent matched the lowest since January. The share of those who see prices decreasing rose to 18.6 percent, the most since February.

�Consumers have reacted to the extremely low level of interest rates with a worrisome imbalance between housing market speculation and traditional household investment,� said Robert Lawrie of Bloomberg Economics. �Consumer expectations and spending might suffer until labor-market displacement issues are addressed and households can repair their balance sheets.�

Statistics Canada reported a flat economy on Dec. 23, showing gross domestic product was little changed in October. Output has only grown in three of the first 10 months of 2015, beset by falling energy prices and business investment.

The ups and downs of the oil market were reflected in the Bloomberg Nanos confidence index throughout 2015. The measure declined from 55.8 at the start of the year to lows of 53.6 in February as the oil shock took hold, and to 52.0 in August on signs the economy may have fallen into a recession.

The index then reached its 2015 peak at 58.6 on Nov. 13, as optimism swelled after the last federal election brought Prime Minister Justin Trudeau�s Liberals to power, with pledges to embark on deficit spending to spur economic growth.

Since then crude oil prices have fallen below $35 a barrel, keeping confidence in the Prairie provinces including Alberta, whose economy relies on oil, at about record lows. The index rose to 46.6, from 46.1, in the latest polling, still well below the mark of 57.2 where it began the year.

Nanos Research produces the weekly confidence index from questions on personal finances, job security, the outlook for the economy and real estate prices. The survey is based on phone interviews with 1,000 people and uses a four-week rolling average of 250 respondents. The national results are considered accurate to within 3.1 percentage points, 19 times out of 20.

# ? Jan 4, 2016 06:30

Juul-Whip: Mar 10, 2008

That's OK. The Canadian housing market can get by perfectly fine without the faith and confidence of most Canadians. Especially young and poor ones.

# ? Jan 4, 2016 06:32

MickeyFinn: May 8, 2007; Biggie Smalls and Junior Mafia some mark ass bitches

Cultural Imperial posted:

I somehow missed this story until it popped up on my google news feed today.

http://www.bloomberg.com/news/articles/2015-12-29/real-estate-blues-bring-6th-straight-drop-in-canada-confidence

I'm not sure what else people expect in a winner take all society? Sure, grind out a few more decades at that job with raises that might cover inflation on good years, then you'll be getting somewhere!

# ? Jan 4, 2016 07:03

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

So we're driving down the road and pass some developers sign for a new low rise and my wife starts singing.

quote:

Condos, condos, nobody wants to buy you!

This downturn in housing is proving to be a source of amusement on so many levels. We're all so screwed. :3:

# ? Jan 4, 2016 14:27

Kafka Esq.: Jan 1, 2005; "If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

El Scotch posted:

How's my truck equity?

Your Truck Equity Level is YeeHawdi.

# ? Jan 4, 2016 15:26

etalian: Mar 20, 2006

The Chinese stock market is crashing again despite all the government intervention lol.

no why

# ? Jan 4, 2016 16:14

Dreylad: Jun 19, 2001

etalian posted:

The Chinese stock market is crashing again despite all the government intervention lol.

no why

don't worry it automatically shut down, everything will be fine

# ? Jan 4, 2016 18:52

ephori: Sep 1, 2006; Dinosaur Gum

Welp, listed my lovely house in Ladner for sale today for a hilariously inflated price. I'm moving to SF next month which seems to maybe be perfect timing if the bubble is finally gonna deflate a little around here. I've been lurking this thread for two years and sweating about my house the entire time. Hopefully the market stays irrational a little longer. Anyone want a small half-renovated house built in the 60s?

ephori fucked around with this message at 21:25 on Jan 4, 2016

# ? Jan 4, 2016 21:20

Baronjutter: Dec 31, 2007; "Tiny Trains"

lol Ladner.

# ? Jan 4, 2016 21:30

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

I would actually consider Ladner now that the tunnel is close to being history. My wife wouldn't though because her career is now in North Van.

# ? Jan 4, 2016 21:33

Professor Shark: May 22, 2012

EvilJoven posted:

So we're driving down the road and pass some developers sign for a new low rise and my wife starts singing.

This downturn in housing is proving to be a source of amusement on so many levels. We're all so screwed.

Please make

quote:

♪ Condos, condos, nobody wants to buy you! ♫

the new thread title

# ? Jan 4, 2016 22:46

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

Professor Shark posted:

Please make
the new thread title

Gotta do a little "*Winnipeg only" though. Housing is inexplicably as hot as it's ever been in the regular places.

# ? Jan 4, 2016 23:06

Kafka Esq.: Jan 1, 2005; "If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

I honestly can't believe a dig at CI has made it this far as thread title unless it's through purely mod inattention.

# ? Jan 4, 2016 23:46

egg tats: Apr 3, 2010

Kafka Esq. posted:

I honestly can't believe a dig at CI has made it this far as thread title unless it's through purely mod inattention.

I honestly can't believe it wasn't immediately changed to the superior "Uncle Wongs Condo", but what can you do.

# ? Jan 4, 2016 23:53

B33rChiller: Aug 18, 2011

ephori posted:

Welp, listed my lovely house in Ladner for sale today for a hilariously inflated price. I'm moving to SF next month which seems to maybe be perfect timing if the bubble is finally gonna deflate a little around here. I've been lurking this thread for two years and sweating about my house the entire time. Hopefully the market stays irrational a little longer. Anyone want a small half-renovated house built in the 60s?

Watch your ankles: Lowball incoming!

I'll give yah 10grand right now. Not a penny more.

# ? Jan 5, 2016 00:14

etalian: Mar 20, 2006

Reverse Centaur posted:

Gotta do a little "*Winnipeg only" though. Housing is inexplicably as hot as it's ever been in the regular places.

maybe they decided to stop running credit checks on mosquitos who want to buy a condo?

# ? Jan 5, 2016 00:25

Freezer: Apr 20, 2001; The Earth is the cradle of the mind, but one cannot stay in the cradle forever.

I really liked "The sun never sets on the housing empire."

# ? Jan 5, 2016 00:26

The Butcher: Apr 20, 2005; Well, at least we tried.; Nap Ghost

ephori posted:

Welp, listed my lovely house in Ladner for sale today for a hilariously inflated price. I'm moving to SF next month which seems to maybe be perfect timing if the bubble is finally gonna deflate a little around here. I've been lurking this thread for two years and sweating about my house the entire time. Hopefully the market stays irrational a little longer. Anyone want a small half-renovated house built in the 60s?

That's some fine timing. If I owned I would definitely cash out now. Actually probably would have done it last year.

Trying to catch a market top is a fool's game, taking a guaranteed handsome profit while the majority of people are still in the greed/delusion phase is a cool and good move.

# ? Jan 5, 2016 00:29

Lexicon: Jul 29, 2003; I had a beer with Stephen Harper once and now I like him.

ephori posted:

Welp, listed my lovely house in Ladner for sale today for a hilariously inflated price. I'm moving to SF next month which seems to maybe be perfect timing if the bubble is finally gonna deflate a little around here. I've been lurking this thread for two years and sweating about my house the entire time. Hopefully the market stays irrational a little longer. Anyone want a small half-renovated house built in the 60s?

Congratulations. What a trade: cashing out at peak-valuation in bizarro BPOE land and heading off to California to earn the sweet USD.

# ? Jan 5, 2016 01:03

etalian: Mar 20, 2006

The Butcher posted:

That's some fine timing. If I owned I would definitely cash out now. Actually probably would have done it last year.

Trying to catch a market top is a fool's game, taking a guaranteed handsome profit while the majority of people are still in the greed/delusion phase is a cool and good move.

You can also roll the proceeds into a diversified investments instead of keeping your eggs in one basket.

# ? Jan 5, 2016 05:36

namaste friends: Sep 18, 2004; by Smythe

http://www.theglobeandmail.com/repo...rticle27995606/

quote:

Vancouver homeowners see massive jump in property values

Assessed values for single-family detached properties in large parts of Greater Vancouver have jumped at least 15 per cent over a one-year period as the region�s real estate market booms.

The latest percentage gains for detached houses are among the highest in the past 35 years, from high-end properties to tear-downs where most of the value is in the land.

In dollar terms, the changes are records within the City of Vancouver, with many detached houses showing increases for the year in the range of $200,000 to $400,000, industry observers say.

Vancouver-area homeowners, who have watched their property values steadily rise over the past 15 years, will see sharp increases in their assessment notices being mailed this week, BC Assessment said on Monday.

The provincial Crown corporation estimates values on behalf of B.C. municipalities, which use the data to determine how much homeowners will pay in property taxes.

Increases in assessed values for detached properties in the City of Vancouver typically range from 15 per cent to 25 per cent for the year from July 1, 2014, to July 1, 2015, said Jason Grant, a regional assessor at BC Assessment. Suburbs with similar assessment hikes for detached houses include North Vancouver, West Vancouver, Burnaby, Port Moody, Port Coquitlam, Coquitlam and New Westminster. Townhouses and condos have also gone up in value, in the range of 5 per cent to 10 per cent.

�Our valuation date is July 1, 2015, and the market for detached properties since then has kept on moving up by a significant amount,� Mr. Grant said in an interview. �Any single-family house is in very high demand right now if it is in close proximity to Vancouver.�

A notable example of the hot market is Lululemon Athletica Inc. founder Chip Wilson�s Vancouver waterfront mansion, which tops the list of most expensive residential properties in British Columbia. The assessment of his single-family detached home on July 1, 2015, rang in at $63.87-million. That�s up $6.28-million or 10.9 per cent from $57.59-million for the previous year, according to data compiled by BC Assessment.

Mr. Wilson�s detached house in Vancouver�s Kitsilano neighbourhood rose to No. 1 in British Columbia�s highest-valued residential properties on July 1, 2013, when it was assessed at $54.2-million. In the latest valuation, the house on Point Grey Road is pegged at $22.8-million and the land at $41.1-million.

On Vancouver�s west side, a detached home on a 33-foot-wide lot climbed $365,000 in assessed value to $1.94-million, or a 23.2-per-cent gain, BC Assessment said. On the city�s east side, a detached home on a 33-foot-wide lot surged $274,000 to $1.27-million, or a 27.6-per-cent increase. By contrast, the gains in the previous assessment were 7.5 per cent on the west side and 11.3 per cent on the east side.

Data from the Real Estate Board of Greater Vancouver show the average price for detached properties sold within the City of Vancouver hit a record $2.53-million in November. The median price for detached houses sold in November reached $3.1-million on Vancouver�s west side and $1.31-million on the city�s east side.

Statistics are being scrutinized as Vancouver garners international attention for attracting high-end home buyers from China to the city�s west side. A sturdy B.C. economy, low interest rates and a limited supply of listings have also spurred the real estate boom. The buying frenzy is further fuelled by the geographic setting � the region is boxed in by the ocean, mountains, the border with the United States and protected areas collectively known as the agricultural land reserve.

Assessed values are also up in the sprawling and less expensive suburb of Surrey. In South Surrey, which is part of the Fraser Valley Real Estate Board, one detached property had a new assessment of $790,000 for July 1, 2015, up 10 per cent from a year earlier.

# ? Jan 5, 2016 05:46

Brannock: Feb 9, 2006; by exmarx; Fallen Rib

quote:

quote:
Tenants' rights are a joke in Toronto.
you can gently caress off right now with that bs. i have just FINALLY evicted a nightmare tenant from my house � she knew exactly how to abuse the system the LTB gave her once chance after another. she left her apartment utterly destroyed � broke into my neighbours house on her way out (it's obv it was her but we can't prove it) and refused to return the keys (WHICH MEANT SHE WAS STILL LEGALLY A TENANT) � which meant i couldn't change thew locks, despite it being obvious she/her boyfriend had tried to get into the rest of the house and also meant i had to leave her - 7 garbage bags worth of trash � which included rotting garbage cat litter, broken glass. when the sherrifs FINALLY came by to oversee the eviction, it was too late and the floor are ruined. along with everything else she tore off the walls and punched holes through. she managed to scam her way onto the unit � and it was obvious she was a wretched human once she was in, but the LTB gave her chance after chance. i was literally begging them. to date she has taken off owing all sorts of money she was ordered months ago to pay (LTB let her keep putting it off) - including the rent she stopped paying, the damage she admitted to along with the damage she has caused since - which is especially infuriating because in any real jurisdiction with fair laws she would have been out month before she could half this stuff to us. and the LTB decisions are secret, so there was no way for us to know she'd done this before and there's no way for us to legally warm future landlords. and yes, by the LTB's own admission IT IS VERY LITERALLY BAISED TOWARDS TENANTS. so you can seriously gently caress right off with that total and utter bs that the "tenants' rights are a joke in Toronto". i've used it before as a tenant and it was great when i was renting with a shitbag landlord but it has totally hosed me over to the tune of thousands of dollars now that i'm a landlord.

Tell me Canpol, is this person sane?

# ? Jan 5, 2016 06:02

BCR: Jan 23, 2011

# ? Jan 5, 2016 06:30

Postess with the Mostest: Apr 4, 2007; Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

Brannock posted:

quote:
you can gently caress off right now with that bs. i have just FINALLY evicted a nightmare tenant from my house � she knew exactly how to abuse the system the LTB gave her once chance after another. she left her apartment utterly destroyed � broke into my neighbours house on her way out (it's obv it was her but we can't prove it) and refused to return the keys (WHICH MEANT SHE WAS STILL LEGALLY A TENANT) � which meant i couldn't change thew locks, despite it being obvious she/her boyfriend had tried to get into the rest of the house and also meant i had to leave her - 7 garbage bags worth of trash � which included rotting garbage cat litter, broken glass. when the sherrifs FINALLY came by to oversee the eviction, it was too late and the floor are ruined. along with everything else she tore off the walls and punched holes through. she managed to scam her way onto the unit � and it was obvious she was a wretched human once she was in, but the LTB gave her chance after chance. i was literally begging them. to date she has taken off owing all sorts of money she was ordered months ago to pay (LTB let her keep putting it off) - including the rent she stopped paying, the damage she admitted to along with the damage she has caused since - which is especially infuriating because in any real jurisdiction with fair laws she would have been out month before she could half this stuff to us. and the LTB decisions are secret, so there was no way for us to know she'd done this before and there's no way for us to legally warm future landlords. and yes, by the LTB's own admission IT IS VERY LITERALLY BAISED TOWARDS TENANTS. so you can seriously gently caress right off with that total and utter bs that the "tenants' rights are a joke in Toronto". i've used it before as a tenant and it was great when i was renting with a shitbag landlord but it has totally hosed me over to the tune of thousands of dollars now that i'm a landlord.

Tell me Canpol, is this person sane?

We had to evict our tenants in Ontario for not paying rent. It was a supreme pain in the rear end.

You fill out this form, http://www.sjto.gov.on.ca/documents/ltb/Notices%20of%20Termination%20&%20Instructions/N4.pdf which gives them 14 days to pay rent. If they don't pay it, then you can evict them. Just kidding. Then you can apply to the landlord tenant board to have a hearing to evict them. They can stall this poo poo out for a long time by forgetting paperwork, arguing the exact numbers, prolonging mediation, paying drips and drabs, etc. Very easy for it to go another 60-120 days before you actually get them out of the place and can start cleaning the disaster they invariably leave. In the end, we did finally get the amount owed by garnishing their wages over the next two years but that only works if they stay in the province and it was a whole other set of hearings.

Tenants have a lot of rights but most don't know them. There are a lot of lovely landlords as well who will take advantage of that. I'd highly advise against becoming a small landlord in Ontario, it's not worth the hassle if anything goes wrong.

You can read more at http://www.sjto.gov.on.ca/ltb/faqs/

# ? Jan 5, 2016 06:31

blah_blah: Apr 15, 2006

Laws are massively tenant favored in BC as well. Buying a condo in BC to rent out has to be one of the dumbest financial decisions imaginable.

# ? Jan 5, 2016 06:34

etalian: Mar 20, 2006

800k to live in Surrey lol

# ? Jan 5, 2016 06:55

Franks Happy Place: Mar 15, 2011; It is by weed alone I set my mind in motion. It is by the dank of Sapho that thoughts acquire speed, the lips acquire stains, stains become a warning. It is by weed alone I set my mind in motion.

Ontario definitely leans tenant. I'd say BC is 50/50, and Alberta definitely leans landlord.

# ? Jan 5, 2016 07:15

Lexicon: Jul 29, 2003; I had a beer with Stephen Harper once and now I like him.

etalian posted:

800k to live in Surrey lol

Funnily enough, as the CAD plummets, it pretty much is bringing Canadian housing back to more 'reasonable' international-comparison levels :haw:

# ? Jan 5, 2016 08:09

Dreylad: Jun 19, 2001

Franks Happy Place posted:

Ontario definitely leans tenant. I'd say BC is 50/50, and Alberta definitely leans landlord.

Quebec favours tenants too, more or less.

# ? Jan 5, 2016 14:53

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Dreylad posted:

Quebec favours tenants too, more or less.

Definitely "more" based on what I remember.

# ? Jan 5, 2016 14:56

Kraftwerk: Aug 13, 2011; i do not have 10,000 bircoins, please stop asking

So are we ever gonna see a decline in rent prices any time soon? All I can afford are sketchy old buildings, basements and places way outside Toronto like Brampton. It blows my mind that Mississauga and Etobicoke can be just as expensive as Toronto around the lakeshore too.

Who the gently caress affords this poo poo? Do those kids in Liberty village just have trust funds or parents topping them up for their living/ entertainment expenses or does most of Toronto simply make between 80-90k per year so they can afford this poo poo? I'm trying to figure it out because when my original employer short changed me with a 45k salary I thought I really got ahead when I got my current job. But no rent is still way too expensive.

I should've jumped on that 1250/month 1BR condo on Dufferin and Lawrence when I had the chance. Now that's going for 1500 too.

Kraftwerk fucked around with this message at 15:03 on Jan 5, 2016

# ? Jan 5, 2016 15:01

namaste friends: Sep 18, 2004; by Smythe

Id like to see some better studies about the impact airbnb has on rental supply. Anecdotally, I have an acquaintance that stopped renting to long term tenants in favor of air bnb.

# ? Jan 5, 2016 15:42

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# ? May 21, 2024 23:48

Ambrose Burnside: Aug 30, 2007; pensive

Kraftwerk posted:

So are we ever gonna see a decline in rent prices any time soon? All I can afford are sketchy old buildings, basements and places way outside Toronto like Brampton. It blows my mind that Mississauga and Etobicoke can be just as expensive as Toronto around the lakeshore too.

Who the gently caress affords this poo poo? Do those kids in Liberty village just have trust funds or parents topping them up for their living/ entertainment expenses or does most of Toronto simply make between 80-90k per year so they can afford this poo poo? I'm trying to figure it out because when my original employer short changed me with a 45k salary I thought I really got ahead when I got my current job. But no rent is still way too expensive.

I should've jumped on that 1250/month 1BR condo on Dufferin and Lawrence when I had the chance. Now that's going for 1500 too.

in my experience its about three quarters living with a shitload of roommates and the balance is split between "extreme debt" and "trust fund poo poo"
also remember that most kids in liberty village are prolly trundling down the street from extremely glorious parkdale

Ambrose Burnside fucked around with this message at 16:20 on Jan 5, 2016

# ? Jan 5, 2016 16:17

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

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