I think the Canadian real estate market going to..
tank in the next few months
I think with these new mortgage rules, land tranfer taxes, rising mortgage rates,, i think things going to go stale very soon
Re: I think the Canadian real estate market going to..
i'm wondering about all the *condos* being built. some of them aren't even big enough to swing a cat in and they're starting at $175,000 with a $20,000 extra for parking space.
i'm waiting for the trump tower to finish so i can see who is living in the $6,Million suites.
Re: I think the Canadian real estate market going to..
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">tank in the next few months
I think with these new mortgage rules, land tranfer taxes, rising mortgage rates,, i think things going to go stale very soon </div></div>
mortgage rates still at a very low level.
the land transfer thing you worry about is only city of toronto and your mayor sey him a go get rid of it. the new mortgage rules will slow down the speculation a it but i dont see the market collapsing.
When its hot in the jungle of peace I go swimming in the ocean of love.....
Re: I think the Canadian real estate market going to..
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SueSumba</div><div class="ubbcode-body">i'm wondering about all the *condos* being built. some of them aren't even big enough to swing a cat in and they're starting at $175,000 with a $20,000 extra for parking space.
i'm waiting for the trump tower to finish so i can see who is living in the $6,Million suites. </div></div>
and there mortgage fee maintnance fees..
too me, whats the point to buying a condo? 6,7,$800 a month condo fees carries alot of extra mortgage for a house with land--condos as far as im concerned all your buying is a box of air
Re: I think the Canadian real estate market going to..
The Real Estate market in the GTA has been overvalued for years. With manufacturing jobs (once the golden goose of the area in terms of good paying jobs) fleeing to China, real estate is not "all that" any longer.
Re: I think the Canadian real estate market going to..
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">especially the commercial market.
I was up at Tapscott/Finch Av the other day, you should see all the empty commercial sites with leases signs </div></div>
Same thing out here in the far east end of the GTA, lots and lots of empty buildings.
Re: I think the Canadian real estate market going to..
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: H_O</div><div class="ubbcode-body">Oshawa, Whitby took a big hit from the autoparts manufacturing sector. I hear Sobeys Distribution Centre on Victoria and Brock closing.
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Re: I think the Canadian real estate market going to..
All I know is I see very high prices when Toronto is featured on HCTV's Property Virgins, my First Place, House Hunters etc. You must make boat loads of $$$ up there!
Re: I think the Canadian real estate market going to..
dwl JD nuff a dem haffee wukk two ar more jobs fi live a likkle life.
Toronto
Vancouver
Montreal
Pay wid more den an arm an a leg fi everyting de ress a country have an dem tink dem have it good
We know we a get screwed bigtime inna de smaller regions an if funny how we hardly hear dem up deh a b!tch an moan like seh dem like shawp stick a juke dem inna de back.
Re: I think the Canadian real estate market going to..
people need to understand that the practices leading to the US collaspe does not exist in Canada..
The new measures are intended to actually ensure that the market does not overinflate and pop.. (like what happened in the south)
amortization years will also be reduced from 35>30 years and home equity lines will be 80% as oppose to 90%..
Canadians were begining to over invest in homes.. this needs to be done so as to prevent a bust.
Yes prices will not be raising as rapidly as people are being "forced" to buy what they can afford.. and yes there will likley be pull backs.. But there will always be hot pockets and cold pockets ..
This is about letting some of the steam out.. not a pop..
If the US (and other countries) had made some of the hard decisions tat the Candians do, they possibly would not have had such a disasterous fall..
Re: I think the Canadian real estate market going to..
Florida is a BAD shape. We are renting a 2/2 villa on a canal. The owner paid $51,000 in 2010. The previous owner paid $200,000 in 2005 or 2006..
A friend up the street paid in the $180,000's for a 2/1 end unit with a good sized fenced yard. She put another $25,000 into improving the kitchen and bath. But, unlike people that put 0% or 3% down she put a big down payment on it. she can't just walk away. It is worth less $80 right now. She owes about $127,000.
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