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.

McGavin: Sep 18, 2012

jm20 posted:

Crooked House On Shaw Street In Toronto Listed For $688,800

That house is a duplex, so it's $688,800 for half, $1,377,600 for the whole lot. I like how realtors have to put lots of 8s in the price to attract Chinese buyers.

Here are the listings:
868 Shaw St, Toronto, ON, M6G 3M2
866 Shaw St, Toronto, ON, M6G 3M2

# ¿ Jul 22, 2015 23:52

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# ¿ May 9, 2024 21:21

McGavin: Sep 18, 2012

triplexpac posted:

It makes perfect sense. They're not making any more land, so future houses will have to be built on levels ABOVE the ground. Basically we're looking at a Final Fantasy 7 scenario here.

Everything will be great until the Big One hits and Sector 7 collapses.

# ¿ Aug 13, 2015 18:07

McGavin: Sep 18, 2012

Maybe they were looking at the growth in China's income :confused:

# ¿ Aug 13, 2015 22:32

McGavin: Sep 18, 2012

PT6A posted:

a bunch of real estate investor amateur landlord cunts

I believe the term you're looking for is "the landed gentry".

# ¿ Aug 17, 2015 22:46

McGavin: Sep 18, 2012

Mr Luxury Yacht posted:

But the gall of a labour lawyer arguing other people should work *more* free overtime when he probably wouldn't wipe his own rear end if he wasn't billable is rage inducing.

He most likely represents companies when they get sued for labour violations, rather than the employees doing the suing.

# ¿ Aug 19, 2015 23:01

McGavin: Sep 18, 2012

I've worked in biotech my entire career and the only ones putting in anything over a 40 hour week without reimbursement are management or scientists, and that's usually in start ups.

# ¿ Aug 20, 2015 00:43

McGavin: Sep 18, 2012

Oh, you're talking about the US. Yeah, they're crazy down there.

# ¿ Aug 20, 2015 01:02

McGavin: Sep 18, 2012

I changed my RRSP in April, once the R word started being thrown about. 12 more days until we find out for sure!

# ¿ Aug 20, 2015 23:17

McGavin: Sep 18, 2012

I'm pretty sure that the only reason people in this forum care about Jenny Kwan is because CI flips the gently caress out whenever she gets mentioned.

# ¿ Aug 23, 2015 03:46

McGavin: Sep 18, 2012

Bloody Hedgehog posted:

What is Jenny Kwans plan to keep ancestor ghosts out of my home prefecture?

This might just be the solution to the foreign investment problem in Vancouver.

# ¿ Aug 23, 2015 03:57

McGavin: Sep 18, 2012

Shadoer posted:

Yeah that's a good idea. Odds are if you wait they'll recover.

Right now.... yeah things are pretty dark.

As long as you remember that the best investors are dead (i.e. they make an investment and then die without closing the account so they can't do anything dumb with their money) you'll do alright.

# ¿ Aug 24, 2015 18:17

McGavin: Sep 18, 2012

TerminalSaint posted:

Cuba spends 1/40th what the US does per capita and has the same life expectancy

Cuba also has about 3 times as many doctors per capita as the US.

# ¿ Aug 26, 2015 03:49

McGavin: Sep 18, 2012

Reverse Centaur posted:

None of those towers shown exist.

Maybe they will by May 23, 2025, but it will probably take more than a decade to clean up Surrey.

# ¿ Aug 26, 2015 04:06

McGavin: Sep 18, 2012

triplexpac posted:

http://business.financialpost.com/news/economy/public-sector-crowding-out-private-job-growth-hampering-employment-opportunities-in-canada

They took our jobs!!! Thanks Fraser Institute

I love how the picture makes it seem like there's a huge line at Service Canada, but it's just because it hasn't opened yet.

# ¿ Aug 26, 2015 17:12

McGavin: Sep 18, 2012

Take the average house price in Belleville, multiply it by about 5 and you have the average price in North Delta.

Edit: I guess Belleville would be the equivalent of Hope in terms of prices and distance from downtown.

McGavin fucked around with this message at 23:39 on Aug 26, 2015

# ¿ Aug 26, 2015 23:34

McGavin: Sep 18, 2012

Have you guys been to the outlet mall they built near the airport yet? It's about a kilometer from the end of the runway so you get to experience the joys of a jet flying 200 m overhead every 2 minutes while you shop. Also the parking lot was designed by Lucifer himself.

# ¿ Aug 27, 2015 00:19

McGavin: Sep 18, 2012

Just got back from the grocery store in downtown Richmond where there was a Mainland Chinese lady walking around with a Louis Vuitton bag in one hand and a plastic bag full of her child's piss in the other.

# ¿ Aug 27, 2015 05:44

McGavin: Sep 18, 2012

Reverse Centaur posted:

Yep. Boomers are gonna start dying en masse soon, time to build a cemetery on every corner.

A hospice in every 'hood.

# ¿ Sep 1, 2015 00:09

McGavin: Sep 18, 2012

Cultural Imperial posted:

http://www.statcan.gc.ca/daily-quotidien/150901/dq150901a-eng.htm?HPA

suck a big fat recessionary dick canada

Statistics Canada posted:

On the other hand, the output of real estate agents and brokers (+9.9%) ... posted notable increases.

Nope, definitely not a bubble.

# ¿ Sep 1, 2015 17:40

McGavin: Sep 18, 2012

I'm pretty sure that if an Arab prays over something it's halal.

# ¿ Sep 15, 2015 03:20

McGavin: Sep 18, 2012

My experience in renting a newish (2008) condo in Vancouver is "Thank god I didn't buy one."

# ¿ Sep 15, 2015 21:33

McGavin: Sep 18, 2012

Tipps posted:

Basically, you'll have all manner of lounges, pools, spas, open-pit barbeque patios on the XXth floor, beehives on the roof, bowling lanes and gyms in the basement, etc. in the public areas, but your actual unit with be tiny, with a lovely floorplan, and bargain bin finishes that look like they are from a clearance sale at Canadian Tire.

The common areas are nice for about a week until the other residents move in and let their lovely little dogs pee all over everything.

# ¿ Sep 15, 2015 22:47

McGavin: Sep 18, 2012

cowofwar posted:

Base salary for a post doctoral fellow at University of Toronto is $27,400 a year. Not much fun paying student loans on that poo poo.

Postdocs are expected to live off the fat of the land. I hear the squirrels in Queen's Park are delicious.

# ¿ Sep 16, 2015 03:16

McGavin: Sep 18, 2012

A 0.5 to 1% rate hike? Probably not a lot other than a slightly lower CAD. I don't think that BoC would hike rates considering the current state of Canada's economy. The IMF was squawking that USD denominated debt would be more expensive thanks to currency depreciation, which would hurt investment in developing countries and increase instability in global financial markets that were already pretty unstable due to the whole China thing. The risk of hurting the global economy coupled with lower than expected job growth numbers in the US probably made the Fed reconsider the whole thing.

# ¿ Sep 17, 2015 19:52

McGavin: Sep 18, 2012

This is the most Vancouver link.

# ¿ Sep 18, 2015 17:22

McGavin: Sep 18, 2012

David Ley "Leys" the smack down:

David Ley posted:

Metro Vancouver: �Unequal City�

It�s the most important justice issue in Metro Vancouver: Housing affordability.

And Regent College is hosting a major discussion on it and related topics on Thursday, Sept. 24th. The 7 p.m. event will include the scholar who is arguably the most important voice on the trans-national forces making Metro Vancouver unaffordable, especially for young families.

University of B.C. geography professor David Ley is the author of the groundbreaking book, Millionaire Migrants: Trans-Pacific Life Lines. He�s calling his brief talk �Housing Affordability: A Sign of the Times.�

�The �sign of the times� is growing inequality,� Ley told an organizer of Thursday�s event.

�A globalized world of almost unrestricted capital flows leads to asset bubbles, and property has become a very significant asset bubble. But not everywhere, only in selected places (such as Metro Vancouver),� Ley said.

�Housing is becoming one of the central questions of our time, because it leads into so many other issues. It�s like a nexus around which a whole lot of other issues unfold. Vancouver is a particularly good laboratory to look at this because the issues are so fraught here.�

Ley�s current research involves a comparative study of housing market bubbles in five global cities. He is also a participant in the national Neighbourhood Change Research Partnership, examining growing income inequality and polarization in large Canadian cities.

Ley will be joined by five other noted speakers at the two-hour forum at Regent College, which is at the corner of University Boulevard and Wesbrook on the University of B.C. campus.

The event, which begins at 7 pm., is titled Q Commons Vancouver: Home, Community and Belonging. Tickets are required.

Here are excerpts from a revealing interview Ley gave in advance of the Sept. 24th forum:

David Ley:

There was an Angus Reid study that came out in the spring, asking people in (Metro Vancouver) what are the most important urban issues they can identify. And housing emerged first�. One of the groups was �very uncomfortable� and �stressed��those who are paying a high proportion on housing, who typically have a long commute, who are younger people, who have a family with children, who are the most highly educated of the four groups. And now here is the clincher: 80% of whom are seriously considering leaving this region because of the cost of owning a home�.

Q: What are some of the reasons housing prices have skyrocketed in Vancouver?

David Ley:

The problem does not have a local cause because local incomes cannot support the housing market that we encounter here.

The role of wealth migration in shaping our housing market is significant: 200,000 people have come to Vancouver through business immigration programs in the last generation. All of those households are millionaire households�that�s how you qualified for the program. This has led to an enormous dump of wealth on the local housing market�.

Q: What can we do about this?

David Ley:

The answers have to be political answers. The scale of the challenge is so great�. But not even at the scale of the city government can one really address these questions. It needs a concerted effort by all three levels of government. And we are a long, long way from that in Canada. We don�t even have a national housing plan�.

Q: What is the knock-on impact of affordability of housing on our shared life together?

David Ley:

There are some obvious things, and then some less obvious things.The obvious things are what we all know from our own experience or the experience of people we know in terms of housing stress. How do people adjust to a market like this? We have a 27-year-old and his family living in our house. We�re delighted�I�m a great believer in extended family gatherings. So that�s one adjustment.

People move away, as this Angus Reid poll suggests. People double up. People live in smaller units. People take on very risky debt loads. There are illegal suites throughout the region that are absolutely critical not only for people�s housing but as mortgage helpers�.

Regent College, an evangelical Christian graduate school, says the purpose of Q Commons, which is modelled on programs in other parts of the world, is to �convene local leaders to think, learn, and work together on common topics and issues in our cities. The conversation in Vancouver will centre around issues of home through a variety of different lenses: housing affordability, building community, and infusing more happiness into a city sometimes described as fostering loneliness.�

# ¿ Sep 18, 2015 23:13

McGavin: Sep 18, 2012

Cultural Imperial posted:

Vancouver's very own Hootsuite is one of the biggest tech companies in the world, creating hundreds of jobs.

Some of which are now actually paid!

:vince:

# ¿ Sep 24, 2015 20:24

McGavin: Sep 18, 2012

ehhhhhhnnnnnn posted:

Hi, just wanted to pop in to say they didn't let Elizabeth May into this debate because she'd mop the floor with everybody.

I also saw the Canada tag and decided to post about something completely unrelated.

# ¿ Sep 29, 2015 00:48

McGavin: Sep 18, 2012

ehhhhhhnnnnnn posted:

this is the only canada thread?

There's a whole forum for that poo poo.

# ¿ Sep 29, 2015 03:47

McGavin: Sep 18, 2012

LemonDrizzle posted:

How do alarm bells not start ringing in your head when someone suggests you should borrow almost 6x your household income what is wrong with these people aaaaaargh

But all you have to do is put 5% down and reduce your desired standard of living to "ghetto squalor"!

# ¿ Sep 29, 2015 18:46

McGavin: Sep 18, 2012

If Stephen Harper has his way, 72.5 per cent of Canadians will be homeowners by 2020

quote:

Conservative Party Leader Stephen Harper announced a plan Tuesday to create 700,000 new homeowners by 2020, even as housing prices continue to soar in Canada�s largest markets.

Harper appeared at a half-built, high-end subdivision in Vaughan, Ontario the morning after a bruising foreign policy debate in Toronto. There he declared a new goal to have 72.5 per cent of Canadians own their homes by the end of the decade.

None of the measures announced Tuesday are new. They involve a mix of tax incentives and savings loopholes, buttressed by a pledge to collect data on foreign home ownership and to take �concrete action� against �foreign non-resident real estate speculation.�

What is new the aspirational goal to have a certain number of non-owners buy their first homes by a certain date.

The Conservatives� bullish homeownership plan comes as economists continue to issue warnings about the overheated housing market in Vancouver and the Greater Toronto Area. A sign advertising homes in the subdivision Harper appeared at Tuesday listed a price of over $880,000, not unusual in area where single family home prices have spiked dramatically in recent years.

# ¿ Sep 29, 2015 21:50

McGavin: Sep 18, 2012

YeOldeButchere posted:

Yes, YES! Soon we will have a 100% ownership rate! No longer will we have to fear for all of the home-poor, prideless Canadians! No longer will the specter of renting haunt this great country! No longer will the under-mortgaged plague the FIRE industry! A glorious utopia is about to dawn on our Fair Dominion!

And we will pay for it by being LEVERAGED TO THE TITS! :getin:

# ¿ Sep 29, 2015 22:44

McGavin: Sep 18, 2012

Seat Safety Switch posted:

Is "battlers" some kind of Australian slang that I haven't heard of before (akin to the UK "punters") or does it refer to something else?

Australia is like Mad Max IRL and they earn their living in the THUNDERDOME. :perfect:

# ¿ Sep 30, 2015 03:47

McGavin: Sep 18, 2012

I like my explanation better.

# ¿ Sep 30, 2015 05:14

McGavin: Sep 18, 2012

My bus ride occasionally has a dude who goes around ripping up the bus seats looking for garbage underneath, which he then picks up with his filthy hands and throws out the door at bus stops, while muttering about how it's "double gross" or occasionally "triple gross". If it's so gross just don't loving touch it, or better yet don't go looking for it in the first place.

# ¿ Oct 8, 2015 00:33