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COVID and the housing market
- Thread starter mimico_polak
- Start date
OHRC said that people do not have the right to choose their neighbours as that would be a violation of the human rights code. The official opinion was written for proposed transitional housing for the unhoused but it doesn't take much of a stretch to apply it to most developments. If you don't want a tower beside your single family home, someone just has to argue that you are opposing housing for those with mobility issues and suddenly you are in violation of ohrc.
Do they all watch Lawrence Welk?
Some of those places scare me. Stretford Wives for seniors. I met someone who was moving to PEC because "down there you can pronounce people's last names."
I'm not against peace and quiet but it isn't 1960 anymore.
As Grouch said "I wouldn't want to be part of any association that would have me as a member."
PEC is off the radar for regular folks now , it’s gotten expensive and since locals can no longer afford to have thier kids grow up and buy or rent in the county , there is a lot of resentment to Toronto money .
We have friends that moved there 15 yrs ago before the crazy , they have infiltrated, but are not “ from the county”
I’m not living more than 30mins from an international airport at this point in life . It’s a metric for me .
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We have friends that moved there 15 yrs ago before the crazy , they have infiltrated, but are not “ from the county”
I’m not living more than 30mins from an international airport at this point in life . It’s a metric for me .
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You should have bought the old government airport they were selling off. If you're in a plane, 30 minutes gets you a long way.
Thank God the one venture I never pursued was motorized flight . I spent enough on gliders without trying to pay to keep an engine in the air .
I’m in PEC a couple times a summer , that’s enough for me . I do really like the proximity to Quinte and Kingston , but waterfront there is like Muskoka pricing . Can’t do it .
And an ex girlfriends whole family is from Bloomfield in the middle of PEC , they may still have a hit out on me .
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I’m in PEC a couple times a summer , that’s enough for me . I do really like the proximity to Quinte and Kingston , but waterfront there is like Muskoka pricing . Can’t do it .
And an ex girlfriends whole family is from Bloomfield in the middle of PEC , they may still have a hit out on me .
Sent from my iPhone using GTAMotorcycle.com
Chili and apple pie was about $200 IIRC.
Fly from Brampton to Muskoka airport for chili and then on to Goderich for apple pie. Food was $20 and gas $180.
A friend wanted us to join them on vacation in Dec. Sounded like an epic adventure but not enough time or money to join. Flew from here down to caribbean and hit something like 10 islands (some airports, some beach landings) before flying home. Once in a lifetime trip but probably not in our lifetime.
OHRC said that people do not have the right to choose their neighbours as that would be a violation of the human rights code. The official opinion was written for proposed transitional housing for the unhoused but it doesn't take much of a stretch to apply it to most developments. If you don't want a tower beside your single family home, someone just has to argue that you are opposing housing for those with mobility issues and suddenly you are in violation of ohrc.
All fine and dandy on paper, but there's a reason why half-way houses and wet houses are not located in affluent neighbourhoods... Because poor people don't have a "friend" on city council to veto such facilities based on "code violations" or other trumped other reasons...
While letting the problematic play alongside the normals seems like a good idea I question the results if the former isn't taught how to see beyond their problems. People with good attitudes develop a better savvy on life than ones that grow up amid chaos. If the mindsets are too entrenched the contrast could be too harsh.
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Interesting end run around dysfunctional ltb. Sublet a unit and if tenant on lease agrees to terminate lease voluntarily, Subletter is out quick and easy. It wouldn't be that hard to insert someone as the tenant and only sublet rental properties. If landlord wants to kick out Subletter, they need to go to ltb layers of obscurity make it easier. I rent a dwelling from mp and sublet it out for a few hundred a month more. Cheap insurance for mp as if dwelling occupant stops being desirable, it can be unwound and locks changed quickly by me agreeing to end lease early. Subletter has no contract or obligation with mp.
thanks for the share. this is very interesting and good to know.
Ouch. This is a terrible idea for those that use it. For Ourboro owners, it is a money printing machine. Ourboro will give you 25 to 75% of a downpayment. They take a matching ownership stake in the property. Your principal payments are yours to keep but they would keep 25-75% of the appreciation when you sell. That means most of the money you put in was invested at zero percent. Ooof.
windsor.ctvnews.ca
ourboro.com
"When the home is sold, your mortgage principal payments will be taken from the sale proceeds and set aside for you first before we split the remainder.
This means the money you’ve paid toward your mortgage is protected, even if the home doesn’t increase in value."
videoPlayer
How It Works
Buying and owning a home can be scary. Backup is here. Find out how it works with Ourboro.
ourboro.com
"When the home is sold, your mortgage principal payments will be taken from the sale proceeds and set aside for you first before we split the remainder.
This means the money you’ve paid toward your mortgage is protected, even if the home doesn’t increase in value."
That is genius and evil….Frak I want to get a rental building again.
So you buy a house for 500k and make payments on it for (let’s say) 10 years…Ouch. This is a terrible idea for those that use it. For Ourboro owners, it is a money printing machine. Ourboro will give you 25 to 75% of a downpayment. They take a matching ownership stake in the property. Your principal payments are yours to keep but they would keep 25-75% of the appreciation when you sell. That means most of the money you put in was invested at zero percent. Ooof.
videoPlayer
How It Works
Buying and owning a home can be scary. Backup is here. Find out how it works with Ourboro.
"When the home is sold, your mortgage principal payments will be taken from the sale proceeds and set aside for you first before we split the remainder.
This means the money you’ve paid toward your mortgage is protected, even if the home doesn’t increase in value."
The principal is saved at 0%.
Sell the house for 600k after 10 years and you get…25k as a base, and 75k as the max if they give you 25-75% of the down payment?
Can you buy they out?
Does it now qualify as income because while it’s your principal residence…it’s def not for the loan company?
I don’t know how I’d feel about that.
Didn’t the Libs have something similar? Govt helps with down payment and they keep equity to an equal %?
Gov't had (has?) an equity share program. I think it was a little more favorable terms. Govt puts in 5 or 10% of total house price. In your scenario, house appreciated by 20% so govt would want their initial stake back with a 20% return (they put in 50K and get back 60). That's far less punitive than them keeping 50% as ourboro would do for putting up 50% of your downpayment. Govt program is also capped at 8% yearly in either direction. Max the program while government stimulus is driving prices to the moon and you get to keep a ton of interest on their money. Gov't is incompetent morons.
First-Time Home Buyer Incentive | CMHC
An introduction to the First-Time Home Buyer Incentive and links to tools and resources to help you prepare to buy your first home.
www.cmhc-schl.gc.ca
This underscores the problem of housing in Canada as well as most countries.
Too many people believe they have a God given right to nice accommodations, ignoring bad decisions.
Too many investors believe they have a God given right to make more every year without more input.
The governments agree with both.
No one wants wage and price controls.
Let the riots begin.
Central Etobicoke hasn't heard about the price crash. Two executive houses have sold in a week or two for within a couple of thousand of asking. List $1.899 M sold $1.900 M and list $2.098 M sold $2.010 M.
The first one is 500 feet from where an existing rental apartment building is planning on adding four more buildings. It was built when land was relatively cheap. Street parking will become less fun.
The first one is 500 feet from where an existing rental apartment building is planning on adding four more buildings. It was built when land was relatively cheap. Street parking will become less fun.
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