Just looking to clarify - do you hate all homeowners, or just the chowder-heads who think 5% down is a ticket to millions?
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Condo harassing me
- Thread starter daught
- Start date
Just looking to clarify - do you hate all homeowners, or just the chowder-heads who think 5% down is a ticket to millions?
Correction?
But i really want that bmw that comes with it! http://globalnews.ca/news/883021/fr...how-gta-realtors-are-catching-your-attention/
I don't hate home owners, if people want to purchase a gut house for 950,000$ go for it... But don't try to convince me how you're a genius for doing so lol
Why do you always present the worst case scenario? Do you have a mental block?
So it's the chowder-heads on your hate list - glad I clarified.
This is not a worst case scenario, this is a reality in toronto
On my street theres a house for $700,000, all original from 1960 :lmao:
No garage btw, 10x15 side yard where the garage would normally sit (no backyard)
http://business.financialpost.com/2014/06/04/toronto-home-sales-surge-to-fresh-record-in-may/
Oh, are we still talking about Toronto? Every house there is probably a worst case scenario. I thought we decided you're moving out of Toronto? Maybe I'm thinking of somebody else. Ok, n/m and as you were.
Get your **** together man!
Um. Why? How many houses can I live in at the same time?
We're still paying off the second one. Hoping to have it done in five years or so.
I've got one in T.O. that I'm renting out to my brother-in-law for a nominal amount,
and another here, that the family is in. I'm hoping to wait out a T.O. correction, if it occurs.
Right now the house has been going up around 8% per year, so you have to compare that to the markets, and it doesn't seem so super outstanding, bubble like. Basically, we can't afford to buy back into the Toronto housing market, if I tie up my assets in other things, so we decided to keep the house, on the off chance, we ever want to move back.
Since it's not too far from Downtown, and the water, the price should remain fairly stable.
Then again if the council carries on from where they left off, and follows the Ontario Liberal's path into massive debt, all bets are off. I wonder who they'll run to, with hat in hand to keep the swimming pools open now, since the Province's cupboard is worse than bare?
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That's great. I'm very leery of underground parking after having the car stolen. It's more common than I thought.
I wonder if the thieves use those car transport trucks, with the number of cars taken in one go.
It might be worth putting it back after the winter, to see if they still feel the same way, forget about you, or realize it's a bigger issue with the rest of the riders living there. Time tends to heal wounds.
One car they didn't get from our underground was an older British car.
They broke the window, but couldn't or wouldn't use the manual choke.
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I would gladly welcome a large correction to the pricing of homes in Toronto. It would allow me to buy a second house easier! LoL
just yesterday I was looking at a small detached house in mimico/new toronto listed for 450 which sold for 522! I refuse to be a part of these stupid bidding wars but it's a clear indication of what's happening around the area.
as for the bubble bursting...doubt it'll happen. Even if it does let it. The only people to lose out are the ones that bought in hopes of great wealth from flipping a home as their only source of moving ahead. Those in it for the long haul will be fine as your house doesn't lose value if YOU DONT SELL IT!!!
just yesterday I was looking at a small detached house in mimico/new toronto listed for 450 which sold for 522! I refuse to be a part of these stupid bidding wars but it's a clear indication of what's happening around the area.
as for the bubble bursting...doubt it'll happen. Even if it does let it. The only people to lose out are the ones that bought in hopes of great wealth from flipping a home as their only source of moving ahead. Those in it for the long haul will be fine as your house doesn't lose value if YOU DONT SELL IT!!!
Id love to see a correction, I have no mortgages and would buy a townhouse in Bronte on the lake in a heartbeat if they were under $800k. Landlords love corrections, it puts those smug 5% down/5k cashback 25yr mortgage folks back on the waiting list for a rental when they implode.
The US mortgage fiasco was awesome for most Canadians, houses in FLA and AZ were at 20yrs ago price levels, great time to get a vacation house, just don't try and get a US mortgage if your CDN or a CDN mortgage on a US property , that's a level of pain.
The US mortgage fiasco was awesome for most Canadians, houses in FLA and AZ were at 20yrs ago price levels, great time to get a vacation house, just don't try and get a US mortgage if your CDN or a CDN mortgage on a US property , that's a level of pain.
Almost every time I read one of your contributions I'm overcome with crushing feelings of envy and self loathing. Is that by design or just a coincidental by-product?
Problem is that its not only gonna be the people who made ****** decisions, its gonna be all of us that pay for it. Anything under a million is backed by cmhc, the bank gets their money, the dummies who bought the place with 0 or 5% down lose almost nothing, its the taxpayers who will be on the hook for the rest.
Why the taxpayers are guaranteeing average people's mortgages who have the financial iq of a bagel is beyond me, but it can't well end. My 0.02 only of course...
Taxpayer?! What's this about? Taxpayer?! I thought CMHC was funded like a regular insurance business? Or is it like unemployment insurance that's actually part of general coffers? Oh man this is quite the commune they've created. All for one, one for all. Every thing people were afraid of in communism is coming true in capitalism. Let banks take the loss if it comes to that.
CMHC is a government-run institution, not a private insurance company.
The bank's loans are insured for 100% in case it all goes belly up. No wonder they'll give anyone with a pulse a mortgage, there is zero risk on their end
lol - Post of the year!
:lmao:
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