I read somewhere that Nikola Tesla never patented his inventions so they could better serve mankind. However that doesn't mean that someone else can't patent an improvement.
How`s your house pricing doing?..
- Thread starter Glenn/RZ500
- Start date
Sooooo.
What does this do for BC property values if you can't sell what you don't own.
Includes Vancouver, Burnaby, etc.
A small fraction of the inhabitants, a minuscule part of one percent, owns the place.
1500 to 2,000,000 ratio.
It would be interesting to be a member of the Musqueam Band and see this roll in.
Don't get anti BC chippy. The Haldiman Tract here could do the same to Ontario. Dunnville, Cayuga, Brantford, Paris, Kitchener, Waterloo, 401, 403, right up to Luther lake.
Thanks to our incompetent forefathers and their present spawn
FWIW Carpay is a disbarred lawyer and seems to enjoy radical notariety
What does this do for BC property values if you can't sell what you don't own.
Includes Vancouver, Burnaby, etc.
A small fraction of the inhabitants, a minuscule part of one percent, owns the place.
1500 to 2,000,000 ratio.
It would be interesting to be a member of the Musqueam Band and see this roll in.
Don't get anti BC chippy. The Haldiman Tract here could do the same to Ontario. Dunnville, Cayuga, Brantford, Paris, Kitchener, Waterloo, 401, 403, right up to Luther lake.
Thanks to our incompetent forefathers and their present spawn
FWIW Carpay is a disbarred lawyer and seems to enjoy radical notariety
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A friend just sold their place in rural Quebec after 14 months. Listed for $500K went through several large drops while paying vacant house insurance, heat and taxes.
The buyer had a 50+ page survey outlining ~$80K in deficiencies so cash in pocket ~$300K. OUCH. Moved into rental so bearable hit. Buyer does the renos
The buyer had a 50+ page survey outlining ~$80K in deficiencies so cash in pocket ~$300K. OUCH. Moved into rental so bearable hit. Buyer does the renos
What did they pay for it and when? Was 500 a reasonable price when listed? Comparing sold prices to list prices is crap imo. Most listings have stupid and unsupported list prices (many high, many low).
Not that long ago, many parts of rural qc had five digit house prices.
Been there 30 years so probably ahead on dollars with not paying rent as icing. Just a warning for anyone assuming a property lottery win.
Paper increases, or losses, are academic for many people.
We purchased our Mississauga home in 1989 and our cottage in 2004. Peak prices for both properties was during the pandemic, in particular for the cottage. We've "lost" money on paper as prices fell, but we're way ahead vs. the original purchase cost + you have to live somewhere.
One cottage on our road sold for $1.6M and resold last season for $1,250k. This is a loss of about 425k with real estate commissions. Was purchased by a guy who immediately had it on the short term rental market and he raked it in for a couple of seasons, but was underwater when the mortgage came up for renewal at a much higher rate. Do I feel sorry for him? Not one bit.
We do know a few people who sold in the GTA at the peak, then moved to New Brunswick and Nova Scotia and purchased nice waterfront properties for a relative song compared to waterfront properties in Ontario. So they cashed in nicely.
We purchased our Mississauga home in 1989 and our cottage in 2004. Peak prices for both properties was during the pandemic, in particular for the cottage. We've "lost" money on paper as prices fell, but we're way ahead vs. the original purchase cost + you have to live somewhere.
One cottage on our road sold for $1.6M and resold last season for $1,250k. This is a loss of about 425k with real estate commissions. Was purchased by a guy who immediately had it on the short term rental market and he raked it in for a couple of seasons, but was underwater when the mortgage came up for renewal at a much higher rate. Do I feel sorry for him? Not one bit.
We do know a few people who sold in the GTA at the peak, then moved to New Brunswick and Nova Scotia and purchased nice waterfront properties for a relative song compared to waterfront properties in Ontario. So they cashed in nicely.
Those people helped jack up land prices out there and are known to the locals as Onteribbles.
We complain about foreign buyers, east coast complains about ontario buyers, cottage country complains about citiots. Same crap, different pile. Someone from elsewhere comes in with a warchest that dwarfs the locals and the locals have no ability to compete. Locals are pushed into the less desirable properties.
Partly true but also most jobs in cottage country do not support payments required for $1M+ homes even if you work full-time. While things have pulled back a bit, on-water properties less than $1M are probably the minority now and forever more. People that work in Toronto and make hundreds of thousands buy up the desirable properties and use them a few days a year. Locals live in the swamps.
Exactly, not everyone in Muskoka gets to live on a lake . There has always been have and have nots but somewhere a shift happened and now it’s a social injustice if you can’t keep Gramps cottage because the taxes are crippling. That’s just how capitalism works . I kick myself daily for not buying my mom’s farm on the escarpment in Campbellville , hundred yr old stone house , huge functional barn. But I didn’t have enough money . I can’t find empathy for those that don’t understand, unless you’re a fan of socialism not everyone gets a corner condo , somebody gets the space in the middle .
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That's because politicians have completely lost the plot. Spending without limit and raising income as necessary to support their largess. Trying to be everything for everyone means you fail at everything and bankrupt everyone. Role of government (at all levels) needs to be drastically reduced and spending obliterated. Yes, it will hurt some civil servants. We are under no obligation to provide high paying jobs for life for every mouth breather that got in.
Mad Mike
Well-known member
I’m looking at a lakefront place 45 minutes out of Timmins. 3 acres, 250’ on the lake and 3 cottages.
Sold in 2022 for $325, I think I can pick it up for $175. It’s off grid, but I can bring in hydro for $40k.
ifiddles
Well-known member
I need you to help us buy our retirement home in a couple of years
He may have a nice lakefront place 45 minutes outside of Timmins. He'll sell it to you for the low low price of 600K. That's barely more than a condo.I need you to help us buy our retirement home in a couple of years
My neighbours are great. And they all ride motorcycles.
It doesn't help if they come in with Toronto attitude. A person buys a scrap of dirt and suddenly they're a land baron.
My father and uncle thought about buying the 120 acre family farm in PEI for $5,000, the going rate at the time. It was purchased in 1850 by previous ancestors. My grandparents were dirt poor farmers and needed the money to move into a retirement apartment. Father and uncle had young families, mortgages, car loans etc.... and didn't not have the spare cash.
