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Entorwellian posted:I was just thinking that the coronavirus is probably going to kill all the airbnb and ridesharing stuff here for a while so it'll be interesting to see how many people walk away from their investment properties. I mean Airbnb maybe but I don't see how it'll kill ride-sharing. If anything I could see its use going up with people being paranoid about using transit and being stuck in an enclosed space with more people.
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Mar 4, 2020 22:51
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Mr Luxury Yacht posted:I mean Airbnb maybe but I don't see how it'll kill ride-sharing. If you were an uber driver, would you want to be picking up strangers who are probably wiping their nose and smearing it all over the car door handles in your vehicle? Or all of the trapped air particles that float around all day with you? Do you want to be picking people up from the airport and hospital?
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Mar 5, 2020 09:22
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No but *looks at dusty, spider-web-lined account that says RENT*
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Mar 5, 2020 10:37
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Entorwellian posted:Or all of the trapped air particles that float around all day with you? Did COVID start being airborne?
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Mar 5, 2020 12:08
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Subjunctive posted:Did COVID start being airborne? If you're close enough to be in a car with someone and they cough, the droplets will be in the air long enough to breathe in.
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Mar 5, 2020 18:20
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So this thread talks alot about the west coast. Come follow me on my journey to buy a house in the GTA.. we have such things as run down shacks located in Mississauga now that sell over asking! My budget is 750k and it took me and my fiance 10 years to save up for it and we can't find poo poo. Most semis are now getting over bid by 100k consistently and there seems to be no end to it. Someone just bought a semi listed for 750k for 900k and literally a day ago a detached home sold for 900k on the same area What am I missing here? And I highly doubt it's ever gonna get better. We both work out asses off at our jobs (overtime is the norm) and we still feel like we can't catch up. What's the loving point? Like honestly .. Should I say gently caress it , and put 5% down on a $1m home and let my life go to ruins? I just wanna live man.
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Mar 5, 2020 22:10
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Just rent.
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Mar 5, 2020 22:15
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Defenistrator posted:So this thread talks alot about the west coast. Come follow me on my journey to buy a house in the GTA.. we have such things as run down shacks located in Mississauga now that sell over asking! Come to Milton, we got another 30k units for sale the next 15 years. Starting from the low 700s lmao this country is a joke
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Mar 6, 2020 00:07
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Risky Bisquick posted:Come to Milton, we got another 30k units for sale the next 15 years. Starting from the low 700s lmao this country is a joke I want to move to Collingwood and gently caress off from this poo poo show. My partner hates the idea 
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Mar 6, 2020 00:54
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linoleum floors posted:Just rent. Our rental decent but the likelihood of being renovated is very high .
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Mar 6, 2020 00:55
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linoleum floors posted:Just rent.
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Mar 6, 2020 01:06
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Defenistrator posted:I want to move to Collingwood and gently caress off from this poo poo show. My partner hates the idea There’s no safe place from the sprawl, 404 is developed up to Georgina, developments popping up in Collingwood and wasaga beach
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Mar 6, 2020 01:12
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Prices get raised quicker than development gets done, and the only chance of finding affordable property in an urban area is by being there 20 years ahead of time. Cool and good system imo.
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Mar 6, 2020 02:29
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You know the economy of a city is broken when the proprietor of one of the best and most influential restaurants in the city says it's not really possible to make the finances work. Guess what's wrong? Yep, the land values have made the taxes insane and unworkable. quote:Iconic Vancouver restaurant Bishop’s to close due to rent, taxes Femtosecond fucked around with this message at 05:22 on Mar 6, 2020 |
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Mar 6, 2020 03:10
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Femtosecond posted:You know the economy of a city is broken when the proprietor of one of the best and most influential restaurants in the city says it's not really possible to make the finances work. I had a hunch this was the case, but this is damning. Thanks a lot, BC Liberals. You sold us out to foreign capital. Enjoy your hollowed out shell of a city.
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Mar 6, 2020 04:57
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Defenistrator posted:So this thread talks alot about the west coast. Come follow me on my journey to buy a house in the GTA.. we have such things as run down shacks located in Mississauga now that sell over asking! A friend was in the same dilemma, had 200k cash on hand and was freaked out by the Toronto market. He found a job out in Moncton and got a house he could pay cash for [he didn't, he financed it and kept the rest for investments/savings and emergency fund]. He took a pay cut but relative to cost of living changes he's coming out ahead, so maybe moving is an option? I did that but I wound up in the states. Big K of Justice fucked around with this message at 18:17 on Mar 7, 2020 |
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Mar 6, 2020 13:07
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Financially there is less than zero reasons to buy. Your average unrecoverable costs a year will be greater than any rent on the market today. Just rent and put your savings into stocks.
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Mar 7, 2020 12:46
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Femtosecond posted:You know the economy of a city is broken when the proprietor of one of the best and most influential restaurants in the city says it's not really possible to make the finances work. We have a similar system in Ontario where properties are taxed at their "highest and best use" so if you've got a one-story restaurant that's been doing fine for a century and then the government does their assessment and says "well, this spot would be good for a skyscraper" then the property will then be taxed as if it already is one.
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Mar 7, 2020 17:15
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I mean in theory it's a good idea since I guess it encourages positive and active development of the land, especially in a commercial area, but it breaks down completely when land prices detach from reality.
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Mar 8, 2020 07:55
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If this guy's lovely food had any social utility beyond its location then could he not....move his restaurant somewhere else?
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Mar 8, 2020 14:01
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Throatwarbler posted:If this guy's lovely food had any social utility beyond its location then could he not....move his restaurant somewhere else? dog he's 75 years old let the guy retire?
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Mar 8, 2020 15:49
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He says he doesn't want to tho?
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Mar 8, 2020 16:00
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Throatwarbler posted:If this guy's lovely food had any social utility beyond its location then could he not....move his restaurant somewhere else? A restaurant's clientele is really really location-based, especially for a place that's been open that long. He'll have a list of usual customers with favourite spots, orders, and so on that will not carry over, and that would sink any attempt to redevelop.
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Mar 8, 2020 16:19
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Bishops isn't really your neighborhood diner. The idea that relocating would materially hurt business more than the rent going up is silly.
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Mar 8, 2020 17:23
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JawKnee posted:Bishops isn't really your neighborhood diner. The idea that relocating would materially hurt business more than the rent going up is silly. My brother is a chef who has worked in fine dining...I was really surprised when he told me how much of the business was driven be regulars. You or I might not go to a place like that every night, but there are those for whom it's a regular occurrence and they generate a lot of revenue for the restaurant. Plus, the guy is 75. He probably doesn't want to go through the whole process of trying to move when the underlying variables driving his decision to close (rent, property taxes, etc.) are going to be the same wherever he goes in the Vancouver area. I bet he probably lives in Kits somewhere and would have to commute even further...why bother?
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Mar 9, 2020 00:39
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I mean, it's the business equivalent of the more common human dilemma. You can sell and cash out on your dumb high land value, but even among the accidental millionaires who lucked into owning very valuable property, there's hefty social and lifestyle costs to moving. There's lots of questions to grapple with here. How do you collect tax revenue on business property that's land value has drastically outpaced its business growth? How do we create a system where people aren't priced out of their own city by factors far beyond their control? Should people have the expectation that they can live and work in the place they grew up (I loving hope so)? Fortunately, in capitalism we don't have to answer any of those questions, so let's just run this poo poo into the ground. e: for spelling CRISPYBABY fucked around with this message at 05:02 on Mar 9, 2020 |
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Mar 9, 2020 01:24
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CRISPYBABY posted:Fortunately, in capitalism we don't have to answer any of those questions, so let's just run this poo poo into the ground. Isn't this the truth.
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Mar 9, 2020 01:30
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CRISPYBABY posted:I mean, it's the business equivalent of the more common human dilemma. You can sell and cash out on your dumb high land value, but even among the accidental millionaires who lucked into owning very valuable property, there's hefty social and lifestyle costs to moving. Quoted for realness.
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Mar 9, 2020 03:00
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Big K of Justice posted:A friend was in the same dilemma, had 200k cash on hand and was freaked out by the Toronto market. He found a job out in Moncton and got a house he could pay cash for [he didn't, he financed it and kept the rest for investments/savings and emergency fund]. He took a pay cut but relative to cost of living changes he's coming out ahead, so maybe moving is an option? If they get their healthcare in order I dunno why I'd stay in this country
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Mar 9, 2020 05:18
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Defenistrator posted:So this thread talks alot about the west coast. Come follow me on my journey to buy a house in the GTA.. we have such things as run down shacks located in Mississauga now that sell over asking! First off, good luck putting 5% down on a $1m home when the minimum is 20% at that point (also recall that you have to pay at least 10% down for every dollar over $500k). Second, honestly it's a long-rear end process to find the right place in the right market. (semi-)detacheds move like crazy and we're coming into prime home-buying season right now so you're probably hosed straight through until summer. Don't blow your budget just to buy as soon as possible, especially if you've already got a cushy rental. Get familiar with the process your landlord has to follow to renovict you, keep an eye on MLS listings (zolo/realtor.ca are both pretty good for this, a realtor sending you daily MLS updates is better), and wait out the spring frenzy.
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Mar 9, 2020 17:05
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Alternatively,linoleum floors posted:Just rent.
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Mar 9, 2020 17:06
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Was chatting with a mortgage broker this morning who said that there were a bunch of lenders issuing updates today re: no new loans in Alberta for now. I assume that's "no new uninsured loans", but didn't ask for elaboration so who knows.
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Mar 9, 2020 21:14
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Briefly chatted at the gym this morning with someone who is involved in financing residential construction projects. Re: Albertan projects - LMFAO
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Mar 10, 2020 01:47
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Oil could be $10 a barrel, fusion achieved, cars banned, and a cheap synthetic jet fuel made of gravel and water developed and Alberta would still have tantrum meltdowns that it's the federal government and greta and foreign agents destroying their powerful economy.
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Mar 10, 2020 02:30
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ChickenWing posted:Alternatively, Yea I think we've decided to keep doing this. This markets insane. Just had a semi listed for 600k sell for 900k.
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Mar 10, 2020 03:15
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Defenistrator posted:Yea I think we've decided to keep doing this. This markets insane. Just had a semi listed for 600k sell for 900k. The market isn't so much insane as the people who think there is value in making those sort of purchases are not thinking as rationally as economists might hope. Homes are different to people than other goods, that much is evident.
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Mar 10, 2020 04:36
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Anecdotally, for some reason a lot of accepted offers in the 1-2m range have been falling apart on financing in the last week or so. Keep getting calls back re: places that were "sold".
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Mar 11, 2020 08:57
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James Baud posted:Anecdotally, for some reason a lot of accepted offers in the 1-2m range have been falling apart on financing in the last week or so. Keep getting calls back re: places that were "sold". Are buyers not able to obtain financing or are they breaking their sales agreements?
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Mar 11, 2020 14:50
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James Baud posted:Anecdotally, for some reason a lot of accepted offers in the 1-2m range have been falling apart on financing in the last week or so. Keep getting calls back re: places that were "sold". Nice humblebrag.
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Mar 11, 2020 15:03
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half cocaine posted:Are buyers not able to obtain financing or are they breaking their sales agreements? Well, the theory was that downpayments got annihilated in the market drop so that they legitimately couldn't finance, but...
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Mar 11, 2020 15:17
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