Housing market :(

[Mr Ontario]

K Anyone having any insight on the Housing Market....is it predicted to just keep going up? Had a look in the paper and seen a house that was obviously a shit hole and they wanted like $180,000 lol Like I pay that!

[IronRobi]

they're saying here in nb it's headed up :s sucks cause all i can find under 180k are duplexes or shitholes

[shithead]

My house was 139 six years ago.

[Freebsd1977]

Yeah Canada's housing market is going way up, better hope our salaries match the inflation as well. I remember as a kid going shopping with my parents and buying a whole weeks worth of groceries for less than $100, nowadays you need $400+ to feed a family of 4 a week. Hmmm, I just remembered all those penny candies I used to pocket at the local IGA teehee lol

[shithead]

Thief!

[Canadian Bodybuilding]

180k?? Damn that's good. Here you can't get anything decent under $250k+

[dainbramaged]

One would have to speculate that in the not-too-distant future that the market will have to turn in on itself. Being in the east, where housing prices are generally cheaper, the same thing's occurring. I would think that pricing would have to slow down or stall out altogether soon because people aren't going to be able to afford these prices. It's not that there's no demand or supply problem, it's that pretty soon no one will simply be able to afford what's out there. When we hit that, then I would imagine prices will level off or start downwards?? Maybe it'll take longer than I think but I can't see it not happening [double neg]..

I remember when my grandmother bought a house (app. 15+ years ago). Brand new, single-home dwelling was about $105k..kinda small but 3 bedroom, furnished, new locale, well placed. Same house now would be likely be high $200k, maybe low $300k. Good market for investing but for those just wanting to buy a starter home or upgrading, holy crap. Maybe this is contributing to:

http://news.yahoo.com/s/ap/20080321/ap_on_bi_ge/living_with_parents

[Bowlcut]

One would have to speculate that in the not-too-distant future that the market will have to turn in on itself. Being in the east, where housing prices are generally cheaper, the same thing's occurring. I would think that pricing would have to slow down or stall out altogether soon because people aren't going to be able to afford these prices. It's not that there's no demand or supply problem, it's that pretty soon no one will simply be able to afford what's out there. When we hit that, then I would imagine prices will level off or start downwards?? Maybe it'll take longer than I think but I can't see it not happening [double neg]..

I remember when my grandmother bought a house (app. 15+ years ago). Brand new, single-home dwelling was about $105k..kinda small but 3 bedroom, furnished, new locale, well placed. Same house now would be likely be high $200k, maybe low $300k. Good market for investing but for those just wanting to buy a starter home or upgrading, holy crap. Maybe this is contributing to:

http://news.yahoo.com/s/ap/20080321/ap_on_bi_ge/living_with_parents

Stats Can says that long term 20 year out look for the market only shows prices going up in major urban centers in Canada.
It is outrageous to think that people in Vancouver spend about 70% of their monthly disposable income on housing according to RBC!

[shithead]

My house was built in 1994 to r2000 specs, 2200 square feet, cathedral ceilings. a sun room and 2 acres of land.
In 2000 we bought it for 139.... it was just appraised at 176.

I have to commute to work though, but I love the country and couldnt picture ever going back to the city.

[pseclint]

my grandma bought her house in Calgary about 40 years ago for $10 000...... she said she was considered so far out of town she didnt get the mail delivered she had to pick it up...........

fast forward, she is now considered downtown.... about 10 mins from chinook centre and just had her house appraised at $465 000

[PUMPON]

Ya edmonton is getting retarded 250k-300k for decent condo. Calgary is even worse from what i hear. Back home(ns) 300k and you can build a mansion!!

[mcgee]

Ya the price in regina sucks, seeing Regina is pretty much a shithole!

[Bowlcut]

Ya the price in regina sucks, seeing Regina is pretty much a shithole!

Most dangerous city in Canada according to Macleans. The Vag is ahead of the Peg and Saskatoon.

I could say the reason why they are so dangerous but that would be politically incorrect.

[shithead]

True. But the housing market depends somewhat on the US. If the US economy doesnt turn around, you could bet the farm the trend we've been seeing will reverse.

[spiderman7]

I'm located just outside the GTA and I have noticed the prices in the region dropping. Not by much, but they have. Houses in my area were going fast a year ago and fro 50 t0 60,000 more then they are now. I think as long as the interest rate remains relatively the same house prices will increase eventually. Just have to ride out the bumps. As Tony Saprano said" Gods not making anymore land" .

[MuSuLPhReAk]

I think on the island of montreal, it's getting close to 300k for a small house. It's stupid rediculous. If you have a house, you don't care as the value of your house is going up with the market. If you don't have a house, your shit out of luck as the more expensive they get, the less you can afford one. The system is dumb.

[shithead]

Do you think it will continue to rise?
I think now would be a poor time to invest in real estate, cause I dont think we'll see the same increases for awhile.

[shithead]

I think on the island of montreal, it's getting close to 300k for a small house. It's stupid rediculous. If you have a house, you don't care as the value of your house is going up with the market. If you don't have a house, your shit out of luck as the more expensive they get, the less you can afford one. The system is dumb.

I dunno, maybe this is the trend and the american economy(that is in peril) will not have an effect up here on the real estate market.

[MuSuLPhReAk]

I'm hearing rumblings from my real estate friends that next year, we will see a decrease in housing prices from 10-15%.

[Bowlcut]

Real estate is typically a long term investment so value potential increase as something that will occur over a decade.
Outside of Quebec one can expect to see an increase much sooner, but even in Montreal housing is going to be up over the next decade as more foreigners immigrate to places like Vancouver, Toronto, or Montreal.
The condo market in Montreal and Toronto is not as hot as in Vancouver, but there is only so much time one can live in a condo before they get tired of sirens and honking.

[turboturist]

K Anyone having any insight on the Housing Market....is it predicted to just keep going up? Had a look in the paper and seen a house that was obviously a shit hole and they wanted like $180,000 lol Like I pay that!

I wish it was that cheap here.

[mcgee]

Most dangerous city in Canada according to Macleans. The Vag is ahead of the Peg and Saskatoon.

I could say the reason why they are so dangerous but that would be politically incorrect.

Best not say lol.

I don't find the city all that dangerous, but I have never lived any where else :(.

[Bowlcut]

Best not say lol.

I don't find the city all that dangerous, but I have never lived any where else :(.

I guess where there is too much poverty and broken homes crime comes as well.

[norman]

Consider those specualting on rising house prices...often bank or realestate people...all with signifigant money to lose if prices should fall. That credit cruch in the states will have an effect here.We are not insulated in canada from the global economy. What if the next president stops free-trade? The US is still our biggest trade partner.

[faller]

Here on Van. Island the prices are still going up ( Cambell and south). When we moved here 8 years ago there was this water front property for sale at $140,000, we laughed at the ridiculous price. Today that same property is worth $600,000+..

Since than my wife has become a realtor and she says the prices here will keep going up, the banks are falsely propping up the economy with the lowering of interest rates. They are also making it way to easy to get a mortgage. When the bubble bursts, and it will, there's going to be a whole lot of ppl in deep shit.

So here's what we are doing. We both make a lot of money, so our focus for the next 2 years is to bring down or eliminate debt, and increase our equity. When the bubble bursts we'll be positioned to take advantage of everyones missfortune.Jk...

But seriously, we beleive that somewhere down the road it will be a buyers market again and if you're positioned finacially you stand to make a lot of money. And even if shit dosen't hit the fan, our debt load will have been redused and we're still ahead of the game. Its a win win :a+

[BolicPower]

I find housing in TO is very high, for what you get. Same home in Hamilton is 1/4 price

[shithead]

The canadian housing market may rise just a bit more before it starts falling and fall it will. We are now experiencing a decline in population. After the baby boomers move on there just wont be enough ppl to fill these houses.

Supply will get too high and prices will drop.

[spiderman7]

As long as the border is opened up to new immigrants, the rate of births and our Life expectancy increase... Well I can't see from all the stats that Canada's pop... is decreasing.
As of January 1, 2007, Canada's population was estimated at 32,777,300, up 329,000 from January 1, 2006. During the year, the population grew 1.0%, with international migration accounting for two-thirds of the increase.
The annual growth rate (1.000%) measured for the year ending on June 30th, 2007. By applying this rate to the estimated Canadian population as of July 1st, 2007, Canada's population is growing by one unit every minute and 36 seconds.

This growth is broken down into:

One birth every one minute and 29 seconds
One death every two minutes and 14 seconds
A net migration gain of one person every 2 minutes and 29 seconds
At this rate, the population of Canada will reach 33,305,836 by July 1st, 2008.
So go out and make babies so the value of my house goes up up.

[Mr Ontario]

Let's hope! :a+


The canadian housing market may rise just a bit more before it starts falling and fall it will. We are now experiencing a decline in population. After the baby boomers move on there just wont be enough ppl to fill these houses.

Supply will get too high and prices will drop.

[shithead]

I cant see new immigrants being able to get a mortgage, let alone purchase outright.

[spiderman7]

Don't know about that. How many immigrants own a house these days and do not speak more then a couple of words of English. Hell I have a good pal that has not submitted a
tax return in 6 years but he was able to get a mortgage approval. Lots of times you have these Construction Co.'s that will co-sign for a good hard worker. Guess they feel its one way of keeping a them. I'm not saying that the value of homes will never fall,which they will, but the overall long-term forcast is that the price will increase.

[shithead]

As long as the border is opened up to new immigrants, the rate of births and our Life expectancy increase... Well I can't see from all the stats that Canada's pop... is decreasing.
As of January 1, 2007, Canada's population was estimated at 32,777,300, up 329,000 from January 1, 2006. During the year, the population grew 1.0%, with international migration accounting for two-thirds of the increase.
The annual growth rate (1.000%) measured for the year ending on June 30th, 2007. By applying this rate to the estimated Canadian population as of July 1st, 2007, Canada's population is growing by one unit every minute and 36 seconds.

This growth is broken down into:

One birth every one minute and 29 seconds
One death every two minutes and 14 seconds
A net migration gain of one person every 2 minutes and 29 seconds
At this rate, the population of Canada will reach 33,305,836 by July 1st, 2008.
So go out and make babies so the value of my house goes up up.

What I meant was declining compared any other time.

1941-1951 - by 1951 there was 13 million ppl and that decade had 3 186 births according to the census.

FF

1991-2001 - by 2001 our population was 31 million and that decade held 3700 births

Over the years the birth rate has gradually fallen.

We have to start breeding some of our own cause at this rate there will be no Canadian Canadians left!

[faller]

We have to start breeding some of our own cause at this rate there will be no Canadian Canadians left!

Always wandered what one of those looked like... Maybe you could enlighten us "shithead"..:laugh

[shithead]

Does that ever sound terrible, eh? wow!

Got carried away on that one guys!

Apologies if I offended anyone.

The number of births in canada cant compete with the numbers coming through immigration.

Thats all I meant.

Thank You.

[faller]

Does that ever sound terrible, eh? wow!

Got carried away on that one guys!

Apologies if I offended anyone.

The number of births in canada cant compete with the numbers coming through immigration.

Thats all I meant.

Thank You.


Can't remember how many times i've done something just like it. But with that Avie of your's you can be forgiven just about anything..

[spiderman7]

I agree with shithead on this one make more babies. More is better especially with the girl on his avatar.

[Mr Ontario]

Fack Shitheads avatar....can't even see the girls face.....she could be a monster. lol


I agree with shithead on this one make more babies. More is better especially with the girl on his avatar.

[pseclint]

Fack Shitheads avatar....can't even see the girls face.....she could be a monster. lol

i seriously roll through threads with a hard on....... these avs are good times

[dainbramaged]

Don't know about that. How many immigrants own a house these days and do not speak more then a couple of words of English. Hell I have a good pal that has not submitted a
tax return in 6 years but he was able to get a mortgage approval. Lots of times you have these Construction Co.'s that will co-sign for a good hard worker. Guess they feel its one way of keeping a them. I'm not saying that the value of homes will never fall,which they will, but the overall long-term forcast is that the price will increase.

Time to ask your boss for a raise then. If they've 'looked the other way' on him, both your bud and the company could be in some trouble. It's called blackmail. LOL. Just kidding..seriously.

[Freebsd1977]

Thief!

5 year old thief and I used AAS at that age too. :moon

[shithead]

As long as the border is opened up to new immigrants, the rate of births and our Life expectancy increase... Well I can't see from all the stats that Canada's pop... is decreasing.
As of January 1, 2007, Canada's population was estimated at 32,777,300, up 329,000 from January 1, 2006. During the year, the population grew 1.0%, with international migration accounting for two-thirds of the increase.
The annual growth rate (1.000%) measured for the year ending on June 30th, 2007. By applying this rate to the estimated Canadian population as of July 1st, 2007, Canada's population is growing by one unit every minute and 36 seconds.

This growth is broken down into:

One birth every one minute and 29 seconds
One death every two minutes and 14 seconds
A net migration gain of one person every 2 minutes and 29 seconds
At this rate, the population of Canada will reach 33,305,836 by July 1st, 2008.
So go out and make babies so the value of my house goes up up.

Ha! New study released today, visible minorities up 27% in 5 years!

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080402/main_census_080402/20080402?hub=Canada

[spiderman7]

Thats right population keeps increasing. Canada holds out an open arm to all. As I have said if the pop... does increase then the demand for housing will increase therefore increasing the value of. So is it a good time to invest in Housing? In the long run yes.
If you can hold onto it and ride out some bumps in the economy.