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iv46vi
Apr 2, 2010
The stats I heard in university were that on average half the households in Canada buy a new house every five years. So there aren't really all that many people holding onto houses for 20 years.

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iv46vi
Apr 2, 2010

jet sanchEz posted:

[RE:Baronjutter]
I don't want you to stop posting because it is fascinating, maybe an E/N thread?

...

Seconded.

It would be nice if you stop looking for validation in DD and BFC while ignoring all of the advice.

iv46vi
Apr 2, 2010
That's a very convincing Beautiful Mind impression Hal.

iv46vi
Apr 2, 2010

Hal_2005 posted:

I feel that's a backhanded complement but I'll take it anyways. I didn't even charge him 2 & 20.

It wasn't.
Basically your posts look like this:

iv46vi
Apr 2, 2010
It's more E/N than real estate really.

His wife's desire to get out is the primary driving force. No adult woman wants to live within an earshot of her parents in law and be indebted to them. She might not phrase it directly and use other reasons that she thinks might appeal to him to convince him.

He's perfectly happy to live as is and resistant to change. As a defence mechanism he constructed a one true condo dream that has to fit all the parameters of a perfect place before he even considers to move. Deep down it bothers him so he seeks validation of his choice by repeatedly asking this same question on SA about his "special unique situation".

A solution here is to figure out how much you can afford to spend on rent and start looking at good condos in that range. In the worst case you'll make her happy, in the best case you'll find something that you both like.

iv46vi
Apr 2, 2010

man thats gross posted:

Can someone here explain what, if anything, I'm missing here?

I keep crunching the numbers and I just can't seem to find a way to justify renting a larger space in Toronto. Any house or large apartment with 3+ bedrooms that aren't smaller than jail cells typically rent out for $2,200+ in any neighbourhood that we'd like to live in. To buy, we're budgeting for $400K. Houses only. No condo fee bullshit. Pickins are slim ...

Are the "to rent" and "to buy" areas exactly the same? Wouldn't rent in the areas of Toronto with $400k houses be lower as well? By stretching your suitability criteria for homeownership you might regret the neighbourhood choice a lot sooner than ten years.

iv46vi
Apr 2, 2010
Why not rent a condo?

iv46vi
Apr 2, 2010
Where do you move in the country with median total income barely above 30k?

iv46vi
Apr 2, 2010

quote:

Here’s how the process works:

Once your mortgage has been in default for three months, legal proceedings are started through power of sale and the bank takes possession of your property.

The bank sells the property and submits a claim to CMHC for any shortfall.

CMHC gets a judgment against you as the defaulted mortgagor for this shortfall and CMHC tries to collect.

If this attempt is unsuccessful, the account is forwarded to one of CMHC’s collection agencies.

iv46vi
Apr 2, 2010
They also no longer insure mortgages greater then a million since 2012.

iv46vi
Apr 2, 2010
Yes, the mortgage insurance premiums that you pay on top of your mortgage(with interest) are only used to cover lender shortfall in case of default. That's why we have such lax lending standards here.

iv46vi
Apr 2, 2010
Getting a mortgage during the collapse might be a tad difficult so you'd better have some substantial cash saved. Also most people are not contrarian.

iv46vi
Apr 2, 2010
REALTOR[tm] maths:

iv46vi
Apr 2, 2010
Also average, average, cherry picked single case but that's how stats seem to work for them anyways.

iv46vi
Apr 2, 2010

less than three posted:

I'm going to oddly enough agree with PT6A. Bedrooms without windows are great for the darkness aspect.

They are also not legal bedrooms:

quote:

That is why the National Building Code of Canada (NBCC) has very clear requirements as it relates to bedroom windows and how a bedroom window can serve three distinct purposes in the home:

1) Light (at least five per cent of the floor area served)

2) Ventilation (at least 0.28m2 or 3 ft2 or an adequate year-round mechanical ventilation)

3) Emergency Escape: (Article 9.7.1.3 & 9.7.1.4) An Emergency Escape requires that each bedroom must have a door that leads directly to the exterior of the building or have a properly-sized egress window that can be opened from the inside without the use of keys, tools, hardware or special knowledge* (unless this bedroom has a sprinkler system installed).

iv46vi
Apr 2, 2010

Lexicon posted:

Even "four out of six" is ludicrous. If someone is intending to make Canada their new home, it would hardly be unreasonable to demand that they be physically present for a large majority of the time in each of those years.

They should pay for the citizenship in beaver pelts and take the test in French. Also got to be white or catholic.

iv46vi
Apr 2, 2010

McGavin posted:

You live in the city of Vancouver, the Beast City, where the Multiple Listing Service, what we call “MLS” locates. Nobody knows what has been going on “MLS”. You know nothing about statistics of “MLS”. The only way to survive is…

DEHUMANIZE YOURSELF AND FACE TO BLOODSHED. :unsmigghh:

MLS.ca is a website of the realtor(TM) association were you can find information about it.
Multiple listings of real estate for sale now go on realtor.ca website because that clearly is the best way to separate two functions of the realtor(TM) service and not a brain dead marketing decision.

iv46vi
Apr 2, 2010
Best to learn how to use Amazon delivery boxes as forms, ain’t no shortage of that crap.

iv46vi
Apr 2, 2010
What kind of internet service do they get on these islands?

iv46vi
Apr 2, 2010
The naive solution would be to keep the primary residency mortgage rates low and to raise secondary and corporate owned residential mortgages to double or triple rate. I’m sure people would figure out quickly how to game the system but in the meantime there might be an increase in supply favouring first time buyers.

iv46vi
Apr 2, 2010
Poverty level is what, around 30k a year. Times five is around 150k mortgage estimate. Are there many potential properties for sale at this neighborhoods for under 200k?

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iv46vi
Apr 2, 2010
Price it at $1 you cowards.

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