.. Canada Housing Market..

[X]

look mixed

Whey unno think about it?

Whats happening inna fi unno neck a di woods?

Mi read sey wan Developer inna mussi Vancouver a sue buyers who a walk away from them deposits.
Speculatory buying drove the Canadian RE up till probably last month.
Mi memeba just last year dem time yah people a like up fi days fi pay deposit on hosues whey naah close till 2010 and 2011.

A wonder how those who speculated fi Spring 2009 faring yah now.


mi always thought cdn housing market prices were ridculous anyhow.
A mean, its amazing how di developers stck the house dem gainst each other and call dem "detached" and charge a arm and leg.

Dem dig a hole behind di yard, call it "creek" and charge $50,000.00 premium... and people pay it!

Now mi a hear di rumblings..
Flippers get bit big time. Mi know a indian bredren who bought his house, and has him closed, him made a deposit on another inna dis other house him considered his dream house that was closing in 2010.
The plan was to use the appreciation off this one, to offset the purchase of his dream home.
Now the one he's in is not appreciating, possibly loosing value, but he has a contract signed for the inflated price that was projected on the other.

Whey unno see a gwaan whey unno live?

[julie*mango]

Re: .. Canada Housing Market..

I have a relative in real estate in Canada and she seh dat the wave lick di market up there...her biggest problem is that there are not enough willing lenders as most of the banks that were US based have pulled out of Canada so ppl having a hard time being financed...then the credit requirements have become more stringent..she makes most of her money these days on rental properties.

[halfwaytree]

Re: .. Canada Housing Market..

I live in the center of the economic storm up here. The biggest change will come in a few moths after which we will see a few more plants close after the closure of yet another one of our GM manufacturing facilities.

If you want to buy a house at a bargain price in an economically depressed area this is the place.

[X]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Milo Man*</div><div class="ubbcode-body">I live in the center of the economic storm up here. The biggest change will come in a few moths after which we will see a few more plants close after the closure of yet another one of our GM manufacturing facilities.

If you want to buy a house at a bargain price in an economically depressed area this is the place. </div></div>

sound like u uppa Oshawa??!
If so a suh mi hear

Mi hear seh deh ago tun ghost town in a few months.

maan mi a tell u..

[X]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: OnTheGoSkelly</div><div class="ubbcode-body">I have a relative in real estate in Canada and she seh dat the wave lick di market up there...her biggest problem is that there are not enough willing lenders as most of the banks that were US based have pulled out of Canada so ppl having a hard time being financed...then the credit requirements have become more stringent..she makes most of her money these days on rental properties. </div></div>

yup.. and dem did done tight already.
Now di mortgage documnet include signing over you first born...

[halfwaytree]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blXks</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Milo Man*</div><div class="ubbcode-body">I live in the center of the economic storm up here. The biggest change will come in a few moths after which we will see a few more plants close after the closure of yet another one of our GM manufacturing facilities.

If you want to buy a house at a bargain price in an economically depressed area this is the place. </div></div>

sound like u uppa Oshawa??!
If so a suh mi hear

Mi hear seh deh ago tun ghost town in a few months.

maan mi a tell u.. </div></div>

To bad too, because before the ish hit the fan this city was finally beginning to make some major strides towards long awaited redevelopment. Now everything has stopped cold.

[X]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Milo Man*</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blXks</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Milo Man*</div><div class="ubbcode-body">I live in the center of the economic storm up here. The biggest change will come in a few moths after which we will see a few more plants close after the closure of yet another one of our GM manufacturing facilities.

If you want to buy a house at a bargain price in an economically depressed area this is the place. </div></div>

sound like u uppa Oshawa??!
If so a suh mi hear

Mi hear seh deh ago tun ghost town in a few months.

maan mi a tell u.. </div></div>

To bad too, because before the ish hit the fan this city was finally beginning to make some major strides towards long awaited redevelopment. Now everything has stopped cold. </div></div>

word it cities in Alberta a get lick also

remember when people use to packup and run guh out deh gut get all mcdonald's work fi $20/hr

Word is the drop in oil prices a send dem fi a tailspin

[barosa]

Re: .. Canada Housing Market..

Canada has caught America's disease when it comes to Real Estate. Things are getting bad in Toronto and other areas of Ontario. One pal of mine is thinking of selling out and head back to Jamaica if he loses his job...
__________________________

Boy! Aren't we living in interesting times?

[X]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: barosa</div><div class="ubbcode-body">Canada has caught America's disease when it comes to Real Estate. Things are getting bad in Toronto and other areas of Ontario. One pal of mine is thinking of selling out and head back to Jamaica if he loses his job...
__________________________

Boy! Aren't we living in interesting times? </div></div>

the funny thing is, some people STILL buying oblivious to whats happening..

case in point a townhouse mi sold a year ago.
bough it for 190K 4 years ago, sold it for $295K a year ago.
A little over a week ago mi agent sent mi a listing showing the SAME house on the market for $330K
Suh mi call the people dem, pretending to check if them still getting mails for me (which them had been getting)
The hombre proceed to tell me him selling the house as him see some deals for detached houses and him ago grab one. Mi couldnt help but feel seh him well optimistic fi a ask $330K fi a townhouse inna dis market. But mi wish him the best.
Today di re agent email me seh the house sell fi full price

[twiney]

Re: .. Canada Housing Market..

Housing prices here were reported to be way overvalued so it finally looking like it heading back to the real value ... nice condo up the road from mi sitting on the market for how long them just had to reduce the price ... wonder if them will drop it likkle further in the next few months.

[X]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Twiny</div><div class="ubbcode-body">Housing prices here were reported to be way overvalued so it finally looking like it heading back to the real value ... nice condo up the road from mi sitting on the market for how long them just had to reduce the price ... wonder if them will drop it likkle further in the next few months. </div></div>

chances are it ago drop.

wid suhmuch people loosing wuk, not much buyers around to sop up the supply.
and banks STILL not lending... Dem just a use the TARP fund fi pay out executive bonuses to the same people who lead these failed institutions..

But on the flip as smaddy mention Jamaica
Mi feel Jamaica real estate prices ALSO in for a rude awakening.
A mean, $13 MILLION fi a house inna PORTMORE??
interest rates upwards a 13%
Now while this is gated communities, mi need smaddy fi explain to me why would smaddy that can afford to spend $13 Million fi a house, choose to spend that kinda money on a house inna Portmore.
Worst them gated communities yah a chobble. You have this everlasting maintenance fee, and a soso trouble when people choose not to pay.

Now rememba at todays rate J$13M is over U$155K. With US market the way it is, imagine what u can get inna di states fi dat kinda money compared to one deggae deggae Matalon house a Portmore??

Mi spidey sense tells me that Ja housing market ago get a rathid lick.. but then agin, mi could be wrong.

[RichD]

Re: .. Canada Housing Market..

mi get my tax assessment them up the assessed value 25%.

[X]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">mi get my tax assessment them up the assessed value 25%.

</div></div>

[RichD]

Re: .. Canada Housing Market..

mi haffi call dem a ask dem if dem mad

[Emperah]

Re: .. Canada Housing Market..

mi get fi mi tuh

an de city a talk bout dem waan raise tax 4% each year fi de nex 4 years and raise wata 8% ova de same period

House price haven't drop too much roun here but dem naah sell like b4 eedah