Topic: Housing

[craigq]

A coworker sent me this one. I'm stupefied... 
https://www.realtor.ca/Residential/Single-Family/18034625/10-ADELAIDE-STREET-UNITA-Ottawa-Ontario-K1S3S1-Glebe

[quadzilla]

A coworker sent me this one. I'm stupefied... 

this sophisticated 3 storey semi detached custom home designed by Theriault Design and Jason Flynn offers an airy open concept with 4 bedrooms, 4 bathrooms (3 ensuites) with luxurious finishes.

At 15.17 feet wide, this will only feel "airy" to anybody that just spent 6 months on a submarine.

[dkaz]

A coworker sent me this one. I'm stupefied... 
https://www.realtor.ca/Residential/Single-Family/18034625/10-ADELAIDE-STREET-UNITA-Ottawa-Ontario-K1S3S1-Glebe

Nice finishes but $899k for a semi-detached goddamn.

[2JDM]

A coworker sent me this one. I'm stupefied... 
https://www.realtor.ca/Residential/Single-Family/18034625/10-ADELAIDE-STREET-UNITA-Ottawa-Ontario-K1S3S1-Glebe

Nice finishes but $899k for a semi-detached goddamn.

Ah the Glebe. Nice trendy area.

Worth about 400-450k in Barrhaven. 

[wing]

That would be a tear down in barhaven.  The difference in Ottawa vs GTA is I'm only 30 min or less from downtown yet have 3 acres and 3000sq/ft.

Or if you want to live in Aylmer you are 10min to downtown and you can get a single for 300 or less.

[johngenx]

http://shareably.net/twitter-is-tearing-hgtvs-house-hunters-apart-and-were-loving-every-minute-of-it/?utm_content=inf_10_3000_2&utm_medium=facebook&utm_campaign=TSE&utm_source=TSE1&tse_id=INF_c6d838b026b311e7ab1b4bd69f1788b7

[tpl]

Some of the room sizes in the listing are ridiculous.  A 3 piece bath  5' 6" by 4'  is pretty small.    I find it difficult to see the floor plan of the house in my head especially with the space that has to be used for stairs

[tooscoops]

i have a high school friend looking for a place in the hammer (hamilton)... she is a born and raised there kinda gal, so used to hamilton being the affordable option. she got greedy and when someone gave an offer on her place, she took it. just assumed she could get another place... thought she could "upgrade" and somehow win.

when you still have to buy something in the same market you are selling in, you can't "win".

she is learning that hard way... keeps getting her offers turned down. offering pretty much asking, but all the places are listed intending bidding wars. so soon, she will be without a place to live.

but of course it is all everyone else's fault. while the market is stupid, she didn't have to get involved.

[wing]

Lol yeah only works if you are moving away

[Sir Osis of Liver]

http://shareably.net/twitter-is-tearing-hgtvs-house-hunters-apart-and-were-loving-every-minute-of-it/?utm_content=inf_10_3000_2&utm_medium=facebook&utm_campaign=TSE&utm_source=TSE1&tse_id=INF_c6d838b026b311e7ab1b4bd69f1788b7

Those are hilarious!

I was working in Florida just as the market started to collapse in 2007. The local news was full of sob stories not much different than those. One in particular involved a couple who were both cooks(chefs?) who had a combined income of $70k and who had just bought another house for ~$750k, but who couldn't sell the house they were in and mortgage was coming due (initial 0% ARM reset to prime plus after 3 years). This was apparently not their fault but the bank's. 

The townhouse I was renting was apparently bought by the owner in 2005 for $650k as an investment. When I left later in 2007, an identical unit had just been marked down to $299k.

[Fobroader]

http://shareably.net/twitter-is-tearing-hgtvs-house-hunters-apart-and-were-loving-every-minute-of-it/?utm_content=inf_10_3000_2&utm_medium=facebook&utm_campaign=TSE&utm_source=TSE1&tse_id=INF_c6d838b026b311e7ab1b4bd69f1788b7

 

"I hang potatoes in peoples garages"

 

[tenpenny]

http://shareably.net/twitter-is-tearing-hgtvs-house-hunters-apart-and-were-loving-every-minute-of-it/?utm_content=inf_10_3000_2&utm_medium=facebook&utm_campaign=TSE&utm_source=TSE1&tse_id=INF_c6d838b026b311e7ab1b4bd69f1788b7

I was on a conference call when I started reading that....thank god I could quickly reach the mute button.

[SKYMTL]

Can't believe its 1117am and nobody has posted this yet.

http://business.financialpost.com/personal-finance/mortgages-real-estate/tax-on-non-canadian-residents-buying-ontario-housing-set-to-be-unveiled-as-early-as-thursday

At a BBQ on the weekend a friend from Toronto explained it pretty well:  that's like trying to close a gunshot wound with a kid's bandage.  Anyone who thinks foreign buyers are the heart of this issue is kidding themselves. 

[Brig]

http://shareably.net/twitter-is-tearing-hgtvs-house-hunters-apart-and-were-loving-every-minute-of-it/?utm_content=inf_10_3000_2&utm_medium=facebook&utm_campaign=TSE&utm_source=TSE1&tse_id=INF_c6d838b026b311e7ab1b4bd69f1788b7

I was on a conference call when I started reading that....thank god I could quickly reach the mute button.

 

[mmret]

Can't believe its 1117am and nobody has posted this yet.

http://business.financialpost.com/personal-finance/mortgages-real-estate/tax-on-non-canadian-residents-buying-ontario-housing-set-to-be-unveiled-as-early-as-thursday

At a BBQ on the weekend a friend from Toronto explained it pretty well:  that's like trying to close a gunshot wound with a kid's bandage.  Anyone who thinks foreign buyers are the heart of this issue is kidding themselves.

It isn't foreign investors, its domestic investors who have been pumping this market. The gov't has been a major part of the problem telling everybody real estate is affordable up until last fall. It's a comedy show starring a bunch of spineless wimps at city hall and queen's park.

What the hell? I thought for sure you guy would be blaming the foreigners 100%.

Seriously I'm flabbergasted. For the record I'm not entirely sure if its foreigners or domestics...probably both...but that's not the point. I just automatically that everyone would blame foreigners as a natural reflex.

[mmret]

Money is too inexpensive to borrow. Too many people think in terms of monthly payment and not debt load.

Add in:
 - Banks handing out huge mortgages while taking little risk (as residential mortgages are back stopped by the cmhc)
- Sub prime lenders helping buyers make their down payment on houses over a million
- A self regulated RE industry
- Media regurgitating RE industry press releases and 'data' as fact.

Heaven help us... ;-)

Here's a fact for you: foreigners look, act, and talk funny.

Sent from my SM-G930W8 using Tapatalk

[pi314]

Money is too inexpensive to borrow. Too many people think in terms of monthly payment and not debt load.

Add in:
 - Banks handing out huge mortgages while taking little risk (as residential mortgages are back stopped by the cmhc)
- Sub prime lenders helping buyers make their down payment on houses over a million
- A self regulated RE industry
- Media regurgitating RE industry press releases and 'data' as fact.

Heaven help us... ;-)

Here's a fact for you: foreigners look, act, and talk funny.

Sent from my SM-G930W8 using Tapatalk

So what about people who look funny and who have parents who talk funny who think that foreigners are part of the problem?

What I'm getting at is are you thinking it's entirely (or let's even say largely) white people who think it's foreign buyers fault? Or facials scapegoating?

I'm wondering how this will all end. Will people just be unable to afford housing? Ultimately everyone needs a place to live so personally I'm not against most of the OLP's actions. Just everyone has been so slow to act. Interest rates are too low I agree.

[johngenx]

So it's racist to be concerned about the affect that absentee foreign ownership has on a real estate market?   

[SKYMTL]

So it's racist to be concerned about the affect that absentee foreign ownership has on a real estate market?   

No.  But their impact upon said market seems to be minimal in comparison to the true scope of the problem. 

[johngenx]

No.  But their impact upon said market seems to be minimal in comparison to the true scope of the problem.

Seems foreign buyers could be a significant factor.  Personally I see no reason to restrict or severely penalize foreign ownership.  The real estate market is integral to the well-being of our citizens and residents.  But, how to temper the Vancouver and Toronto markets without causing losses to residents?  Tricky.

http://www.theglobeandmail.com/news/bc-government-releases-preliminary-data-on-foreign-home-purchases/article30790277/

http://www.theglobeandmail.com/news/british-columbia/foreign-ownership-contributing-factor-in-rising-housing-prices-boc/article30387587/