.. Canada Housing Market..

[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%.

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smaddy a expand dem business. Infact them already commited to the expansion.
Dem a use dem house a Mississauga as security fi di loan.
Dem show di ban sehy di city access dem house fi nearly $1/2 million.
Dem explain to the bank that as far as dem know the bank always add an additional 25% (ontop of the city accessment) to get to the real market value. (mi neva heard that before)
The bank meck dem know.. that was then, this is now.
While the city will keep inflating accessments to get more taxes, in reality them property value has depreciated, so too them net worth.
Di bank ago re appraise the place and will let them know what the final tally is.
It likely nuff people will be writing their cities requesting reassessments.

[diabolical_Tanya]

Re: .. Canada Housing Market..

prices here (Calgary) are dropping, and realators/mortgage brokers are telling people to wait till june july to buy as they will get it cheaper.

nuff people a get lick. an nuff more house soon deh pan di market being sold by the bank.

problem up here is this.

Oilsands companies and drillers were in a bidding war to hire employees back in 07, so them offer so stupid wages to skilled labourers. A mean rig hands 21yo boys were getting paid a grand a day to work for precision so everyone who needed staff had to match or dem salt.

soh dem same people go buy condo and truck based on that overinflated salary. mek dem mortgage payment monthly an snort di ress a di money.

Now di whole a dem a get pink slip.




ANd there was no $20 an hour mcdonalds job. they were provided lodging as a benifit which made the salary look like 20$ an hour.

[X]

Re: .. Canada Housing Market..

seeitdehnow.
come to think of it, if what happen in the states is any indication of what the disease is like, then wherever had the craziness was the highest, a dem ago get lick the worst.
The markets that saw ridiculouly rapid appreciation in home prices, are the markets that will over correct and end up wid crazy numbers of forclosures and ridiculously low real estate prices.
If anything though this whole experience has taught so far is, we really know nothing. Nobody can predict where gonna get hit and to what extent.
Remember justa few short months ago places like alberta dubbed an economy isolated from the turmoils. As oil prices rose, dem was raking in the big $$$$$.. like Dubai, the script been flipped. Its almost like smaddy suddenly yank the safety blanket outta dem mouth..
Interesting times..


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Diabolical_Tanya</div><div class="ubbcode-body">prices here (Calgary) are dropping, and realators/mortgage brokers are telling people to wait till june july to buy as they will get it cheaper.

nuff people a get lick. an nuff more house soon deh pan di market being sold by the bank.

problem up here is this.

Oilsands companies and drillers were in a bidding war to hire employees back in 07, so them offer so stupid wages to skilled labourers. A mean rig hands 21yo boys were getting paid a grand a day to work for precision so everyone who needed staff had to match or dem salt.

soh dem same people go buy condo and truck based on that overinflated salary. mek dem mortgage payment monthly an snort di ress a di money.

Now di whole a dem a get pink slip.




ANd there was no $20 an hour mcdonalds job. they were provided lodging as a benifit which made the salary look like 20$ an hour. </div></div>

[Dr.Dudd]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: blXks</div><div class="ubbcode-body">seeitdehnow.
come to think of it, if what happen in the states is any indication of what the disease is like, then wherever had the craziness was the highest, a dem ago get lick the worst.
The markets that saw ridiculouly rapid appreciation in home prices, are the markets that will over correct and end up wid crazy numbers of forclosures and ridiculously low real estate prices.
<span style="font-weight: bold">If anything though this whole experience has taught so far is, we really know nothing. Nobody can predict where gonna get hit and to what extent.
Remember justa few short months ago places like alberta dubbed an economy isolated from the turmoils. As oil prices rose, dem was raking in the big $$$$$.. like Dubai, the script been flipped. Its almost like smaddy suddenly yank the safety blanket outta dem mouth..
Interesting times..</span>


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Diabolical_Tanya</div><div class="ubbcode-body">prices here (Calgary) are dropping, and realators/mortgage brokers are telling people to wait till june july to buy as they will get it cheaper.

nuff people a get lick. an nuff more house soon deh pan di market being sold by the bank.

problem up here is this.

Oilsands companies and drillers were in a bidding war to hire employees back in 07, so them offer so stupid wages to skilled labourers. A mean rig hands 21yo boys were getting paid a grand a day to work for precision so everyone who needed staff had to match or dem salt.

soh dem same people go buy condo and truck based on that overinflated salary. mek dem mortgage payment monthly an snort di ress a di money.

Now di whole a dem a get pink slip.




ANd there was no $20 an hour mcdonalds job. they were provided lodging as a benifit which made the salary look like 20$ an hour. </div></div> </div></div>It is not that we don't know.
it is that those with the knowledge and honest enough to make it known,are normally suppressed by those who are dead set on having their 'gut feelings' be the the dominant policy. The world economy has been effectively run as an extension of the 'cold war'. they have been using politics and public relations to substitute for sound economic principles. After deceiving people for decades that economics is an art,not an exacting science that will destroy us, if its laws are not respected.
I still realize that the majority are still fooled,and are likely to choose or back interventions that will prolong it.

[H_O]

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>got mine in October.

we live on the edge of Scarborough with our Backyard on the Rouge Park, and because of this were considered a ravine lot/greenbelt, which added more to the final assesment value

another thing that burn me is in Toronto we have to pay a extra tax for our licence plate validation sticker- $60 extra on top of the $75

[Wahalla]

Re: .. Canada Housing Market..

well yessidey mi look pan one house ah Treasure beach 13 million.... Nice house.. own wata....1/3 acre... Suh ah nuh portmore one ova price....

[Wahalla]

Re: .. Canada Housing Market..

I would buy up real estate Calgary and the other areas round the tar sands... There will be a return to boom in 2012.... All it needs is $70 oil.... Oil is creaping up back up 20% in the last couple weeks....

I dont understand what diference the valuation of house meks rich d ?

Me I finished paying off my house last year.. with a nominal mortage... It was the greatest releif of my life.. Others were tempted to go in the boom on multiple properties I did not... now I will be relocating again in the next year I will have to buy a property.. so for purely selfish reasons if property prices which have doubled in the UK in the last 7 years.... Better than 15% increase per year falls I wont be so affected..... In fact I had a look at houses in london and noted a number of properties with 25% reduction in property prices.....

Primary houses should not be IMHO be considered as investments rather as homes....

Still today was not all bad.. I bought shares in Royal Bank of Scotland last week and they have effectively trebeled....

[Gen]

Re: .. Canada Housing Market..

full price baxfoot


<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: 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




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[RichD]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Wahalla</div><div class="ubbcode-body">.

I dont understand what diference the valuation of house meks rich d ?

</div></div> market value tax assessment

[Suesumba]

Re: .. Canada Housing Market..

lofts in my area are selling at the mid-$300k &lt;-- i live in an old industrial area and the factories that were shut down in the 80's are now hot loft properties. i live in one. however, i do notice more and more &quot;luxury&quot; condominiums being rented out, on appointment of course

with the amount of layoffs (there were more here last wednesday), i wouldn't be surprised those &quot;lifestyle&quot; lofts start being rented out too.

[Wahalla]

Re: .. Canada Housing Market..

Mi neva realise yu suh trendy!

[diabolical_Tanya]

Re: .. Canada Housing Market..

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I would buy up real estate Calgary and the other areas round the tar sands... There will be a return to boom in 2012.... </div></div>

yes if someone has money to invest in property by July/Aug Fort MacMurray and Grand prairie will have some good investment property on the market. As will Calgary, although I doubt the re-sale price in Calgary will be as good as the other 2.

&quot;them&quot; saying that in 9 months things should pick up some....

[X]

Re: .. Canada Housing Market..

bway.. it look like whey Dudd seh a fall pon tuff ears..

Mi doubt the 9mth turn around
Mi doubt recovery by 2012

Mi strongly feel that it will be worst before it gets betta, and mi doubt the ridiculous prices we saw for homes in 2004-2007 will return for at least the next 15 years.


<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Diabolical_Tanya</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">I would buy up real estate Calgary and the other areas round the tar sands... There will be a return to boom in 2012.... </div></div>

yes if someone has money to invest in property by July/Aug Fort MacMurray and Grand prairie will have some good investment property on the market. As will Calgary, although I doubt the re-sale price in Calgary will be as good as the other 2.

&quot;them&quot; saying that in 9 months things should pick up some.... </div></div>