COVID and the housing market | Page 151 | GTAMotorcycle.com

COVID and the housing market

There’s a couple trailer parks on Elliot side road In Midland that seem to bring pretty crazy money IMO as well.

I’m not real up to speed on the difference between Modular and Mobile but there is a Modular asking $549,000 right now. Driving past the community does appear nicer then I would expect but no thanks.
 
blackcamaro said:
There’s a couple trailer parks on Elliot side road In Midland that seem to bring pretty crazy money IMO as well.

I’m not real up to speed on the difference between Modular and Mobile but there is a Modular asking $549,000 right now. Driving past the community does appear nicer then I would expect but no thanks.
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I said trailer park but really meant modular. There are no wheels under modular homes, they are delivered on a flatbed and set on foundations (crappy foundations but apparently sufficient).

I wouldnt hate a modular home if you owned the land (or at least a percentage of the total land like a coop if individual lots were an issue). Land lease for hundreds of thousands is bleeping crazy.
 
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I’m with you. I’m not spending that kind of money privilege of leasing the land my box is set on.

If it came to a point close to that I think I would be looking to buy piece of land in a unincorporated township and park a RV on it. Would actually be a cool way to live.
 
My mom is in a lease neighborhood you don't own the land just the house prices are approaching 2m and the monthly lease is 900. Insanity no mortgages allowed either you have to have the cash to buy and be over 50. Also strict rules on visitors etc.

Sent using a thumb maybe 2
 
Scuba Steve said:
My mom is in a lease neighborhood you don't own the land just the house prices are approaching 2m and the monthly lease is 900. Insanity no mortgages allowed either you have to have the cash to buy and be over 50. Also strict rules on visitors etc.

Sent using a thumb maybe 2
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My wifes aunt lived in a nice old condo in toronto. Potential owners were not allowed to purchase with borrowed money and had to be approved by the board prior to buying a unit. That system allowed them strict control over occupants but kept prices below normal free-market buildings.
 
Family had a 'double wide' mobile in Indian Rocks Florida, lot rental was 580.00 US month, had to be over 50 to own home in the park and they had pretty big rules about what you could park in your driveway. Bought the mobile home turnkey for 16K , did standard maintenence and put all new furniture in it, new appliances. Ditched it 20yrs later when the FIL could no longer get health ins to travel , no one in the Fam wanted it due to $580 had become $700us and for 10K US a year we could vacation somewhere nicer ( I had already bought my Arizona house)
Sold the mobile home , fully furnished, dishes in the cupboards for $1 dollar , to get out from under the lot lease, agent charged us $1500 to do the transfer paperwork.
 
Scuba Steve said:
My mom is in a lease neighborhood you don't own the land just the house prices are approaching 2m and the monthly lease is 900. Insanity no mortgages allowed either you have to have the cash to buy and be over 50. Also strict rules on visitors etc.

Sent using a thumb maybe 2
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In "The Stepford Wives" they didn't have age restrictions.
 
crankcall said:
Family had a 'double wide' mobile in Indian Rocks Florida, lot rental was 580.00 US month, had to be over 50 to own home in the park and they had pretty big rules about what you could park in your driveway. Bought the mobile home turnkey for 16K , did standard maintenence and put all new furniture in it, new appliances. Ditched it 20yrs later when the FIL could no longer get health ins to travel , no one in the Fam wanted it due to $580 had become $700us and for 10K US a year we could vacation somewhere nicer ( I had already bought my Arizona house)
Sold the mobile home , fully furnished, dishes in the cupboards for $1 dollar , to get out from under the lot lease, agent charged us $1500 to do the transfer paperwork.
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A friend wanted to rid himself of an ugly time share, view of the garbage area and smell to match. He sold it to an fellow share holder who was about to go bankrupt. I'm not sure who ended up with the white elephant.
 
blackcamaro said:
I’m with you. I’m not spending that kind of money privilege of leasing the land my box is set on.

If it came to a point close to that I think I would be looking to buy piece of land in a unincorporated township and park a RV on it. Would actually be a cool way to live.
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We looked at a cottage on Lovesick Lake that sounded fabulous and under priced until you did the math. Two acres with 2000 feet of shoreline. Wait that's the shape of a toothpick.

The lot wasn't deep enough to allow for a septic system and a public road passed withing three feet of the back of the cottage. The shoreline was mud.

We found out that someone bought it for a song, demolished the cottage and put in an RV pad with hydro. Parked their motor home there when they wanted.
 
No f%^&% given. 2 bedroom just sold for $600K.

4f5c3_30.jpg
 
House a few streets away on Credit Woodlands main road...

Listed for 1.3M...sold for $1,555,000 within a week. Yowza.

Might be time to consider selling. But where to go!

B165E21A-7AC8-4F6F-9EEC-647082475E13.jpeg
 
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Bank of England had picked their way forward. 30, 40 and 50 year fixed rate mortgages. They have given up on prices and are focusing on being able to lock in cashflow. No idea what the rates are going to look like. I would assume that many of these would never get paid off but they do fix your housing costs.


www.thisismoney.co.uk

Revealed: Banks plan 50-YEAR home loans

The move would allow buyers to borrow more at an earlier stage, opening the market up to much younger buyers. But it is also likely to add fuel to house prices.
www.thisismoney.co.uk
 
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