My mother in law is Greek terrible English. Was stuck in an old school marriage. Cook and wash dishes and keep quiet household. At over 80 to late to change things now.
COVID and the housing market
- Thread starter mimico_polak
- Start date
Mad Mike
Well-known member
That is a challenge for newcomers. Canadian multiculturalism norms encourage newcomers to keep their cultures rather than melting into a common Canadian culture.
That cuts both ways if one’s existing culture has control or oppressive tendencies.
Sad. With better Canadian focused social skills they could get jobs and fulfillment outside of the home. They could meet open minded people.
It's also a burden to the medical field when they can't describe a symptom in English. Either call in an interpreter or send them to a veterinarian.
Condo price crash in B.C.?
No problem!
The feds will bail you out.
financialpost.com
Housing development is a for profit business and like any business, bad decisions cause losses. Auction off the mistakes and let the buyers decide the price.
No problem!
The feds will bail you out.
Carney defends condo-buying plan panned by critics as bailout
Prime Minister Mark Carney sought to explain a government plan to acquire vacant condos and convert them into affordable housing. Read here
financialpost.com
Housing development is a for profit business and like any business, bad decisions cause losses. Auction off the mistakes and let the buyers decide the price.
Seems there’s a lot of push back on this. Let’s see how they spin this as right now…not looking great.Condo price crash in B.C.?
No problem!
The feds will bail you out.
Carney defends condo-buying plan panned by critics as bailout
Prime Minister Mark Carney sought to explain a government plan to acquire vacant condos and convert them into affordable housing. Read here
Housing development is a for profit business and like any business, bad decisions cause losses. Auction off the mistakes and let the buyers decide the price.
Carney is backpedaling as fast as he can. He now says the whole idea is Ebey's and feds are putting in 10% and BC is putting in 90%. He really sucks at economics. He speaks nicely while screwing citizens at every opportunity.
Our cottage is dated…but damn…I should try to post it again when I see this stuff.
www.ctvnews.ca
Wonder if AirBNB or VRBO will ever crack down on bad owners misrepresenting their properties.
‘Filthy’ cottage rented through Vrbo ‘ruined’ a family vacation, Ontario woman says
An Ontario woman says a “filthy” cottage that she rented on Vrbo nearly derailed her family’s annual vacation.
www.ctvnews.ca
Wonder if AirBNB or VRBO will ever crack down on bad owners misrepresenting their properties.
While I would expect it cleaner, f me what a whiny person. You don't need to disassemble the bbq and polish the guts. High heat for a couple minutes and away you go. Food left in fridge should obviously have been removed but that's a two minute job. Mouse feces aren't ideal but could have occurred after cleaning. Boarded up window could be a rock from lawnmower, again no big deal. Another article showed some dust on window frame. She was expecting a full deep-clean of an entire house before she showed up for the week. Very few people would do that. Two hour cleaning blast through the house and then the next renter arrives.Our cottage is dated…but damn…I should try to post it again when I see this stuff.
‘Filthy’ cottage rented through Vrbo ‘ruined’ a family vacation, Ontario woman says
An Ontario woman says a “filthy” cottage that she rented on Vrbo nearly derailed her family’s annual vacation.
Wonder if AirBNB or VRBO will ever crack down on bad owners misrepresenting their properties.
Saw some of the photos….i think I’d be screaming for refunds also as the place does look bad…especially for $7100/week.
A grand a day and do your own cooking and cleaning?
Dresden
Well-known member
6 months later this is tracking well.
Worth noting that the Feds are working with the Province and City to eat [socialize] the cost of development fees to get builders building again. I maintain my position that the floor is around $800/sf. Doesn't mean it's a good "investment" but if you're on the fence about your first downtown condo or a rental for your kids through university I can't think of a better time than now since at least 2016.
A few awfully laid out units around Ryerson trading hands in the $700/sf. range. Tempting ... but too many better risk/reward investments out there at the moment to be highly interesting.
I spent the last couple days helping my slum lord buddy ready his last house in the KW area for sale , he had three rentals up there for a couple decades , the rental market is still good , but getting the cash out of the houses now and into the market is more appealing.
He is keeping the four he has in Orillia , near his cottage . They are easier to manage and its an enormous benefit having rentals near your weekend destination. 407 bills, all gas , nice appliances and bbqs all go through rental properties. He has only had them about 10yrs but is probably up several hundred k on property gains alone
He is keeping the four he has in Orillia , near his cottage . They are easier to manage and its an enormous benefit having rentals near your weekend destination. 407 bills, all gas , nice appliances and bbqs all go through rental properties. He has only had them about 10yrs but is probably up several hundred k on property gains alone
Condo sold for 290K which is 168K under 2023 purchase price. That isn't all that surprising. Power of sale. Again, not all that surprising other than the speed (purchase to power of sale in three years). Sale by cmhc. Fack. So we all paid for the loss the speculator caused while the speculator would have received the upside. Socialized losses, privatized gains. That should be the official motto of the current liberal party.
410001661
Well-known member
The guy down the street bought this house beside his in 2021 for $1.2M so his dad can move in and be closer to him (he was living in old Dundas) and it was a PITA to visit him with traffic. Unfortunately the old fella just moved into The Pearl (assisted living) at 97yrs of age so the son put the house up and it sold in 2 days for $1.1M (asking price).
On our street right now there are 6 houses under construction (either heavily renovated or new builds) so let's see who bought this - either a developer looking to flip it or a young family wanting to buy into the downtown core neighborhood.
On our street right now there are 6 houses under construction (either heavily renovated or new builds) so let's see who bought this - either a developer looking to flip it or a young family wanting to buy into the downtown core neighborhood.
Ouch. It sold for 200K less than he bought it for in 2022. Add in LTT and RE fees and property tax and that house was over 6K a month without considering utilities or maintenance. If you looked at interest and/or missed opportunities and/or inflation, that can easily double the effective cost.
410001661
Well-known member
Where did you get $200k? I see a $100k delta - minus the windfall from selling his home in old Dundas which i figure was in excess of $1.5M. I doubt there was a mortgage on the place.
Bought for 1.25, sold for 1.05. With some very optimistic rounding (as both prices are actually 50 and not 49 and 51), it could appear as 100K delta.
Original list price in 2022 was 0.999M, sold for 1.25. Current list price was 1.1, sold for 1.05.
