Canadian Housing Market General

good my parents need a new place and I'm happy it will line up wit their future.

Fucking finally. Just in time for using my cashed-out crypto. Now I can finally buy a damn house.

I'm just waiting at the sideline rn

Prices did fall in 2017, for 15% for Richmond hill. Drive on a few residential streets around Centre or 16th and a good 10% of houses are on sale. Condos in Toronto had a minor retracement, single units are holding out better. Its been coming for a while and the 15% tax scared the fuck out of rich foreigners buying property. No more party buses viewing construction sites kek. Once interest rates rise the average normies who bought on the peak will turn into delinquent mortgage holders and then the house of cards will collapse.

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Oh plz plz let it...i wanna live in hongcuver downtown n get condo.
Too much of a tard to do crypto.

Feel like some advice is conflictin an lately ppl been losing compared to 3months ago

The real estate agents are trying to stir the condo segment while some wash trading of presale contracts keeps prices supported. Single detached is going to come crashing toward townhouse pricing which will push them toward condo prices.

Prepare for the cognitive dissonance you'll see over the next two years where the narrative will be that stratas are good and it's OK for condos to cost as much as townhouses cause it's a lifestyle and for townhouses to be within 20% of detached because some people would rather have a strata take care of their property. When the young people buying the condos start screaming and stop buying in, you get to see the crash.

Housing is a zero sum like all markets. All bubbles come down at some point. Stockholm has dropped nearly 20% now since last summer. Europe gonna be brutal once rates are at 5-8% again

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everyone waiting to immediately jump in and buy the second prices start slipping means its not a bubble, there is solid demand, just locals are too poor right now and are continually outbid by foreigners.

japan is a terrible analogy because they have no zoning laws. You can literally build a 100 story apartment in tokyo wherever the fuck you want, so there is excess demand and it drives prices toward stability. Also in that graph, it misses the point that the primary bubble was in asset prices (Nikkei), not houses.

Hongcouver and toronto are super regulated, there is limited supply due to intense zoning laws

Where can I read about this stuff?

Does it affect the whole country or just some areas?

Basically what happens when prices drop => complete freeze in the markets and people get trapped becasuse nobody is willing to sell on loss

True bubbles are always made by foreigners. Local purchasing power does not create true bubbles. This is why london, vancouver and toronto are priced as they are.

Rates influence housing and we are at all time lows in europe

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People scream bubble in housing more than in any other asset, but they aren't bubbles.

Housing in nice safe cities with stable western goverments is incredibly rare/limited, more so than any asset in the world, and there is an endless supply of wealthy foreigners who are willing to buy them at exorbitant prices.

The only thing which would cause prices to fall is laws restricting sales to foreign residents

Good, now when will it happen in the US so I don't have to be a millionaire just to afford a house?

Usa has super low housing prices outside of big cities. Florida super cheap, even close to larger cities. Texas super cheap. These prices are nothing compared to european towns in general

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You don't need a lot. You just need a non-shit credit score and a mediocre salary.

The bare minimum price of a house in the suburbs of any major metropolitan area in the US is $400k, and that's for something way below average.

Commute a little longer. Brand new houses where I'm at an hour outside of Dallas for 185k.

look at vancouver, san fran, etc.

there bare minimum is 2million

Actually nice houses for 120k just 30 minutes from Dallas too.

I'm talking about desirable places.

They are very desirable. If you want to live in the nice part of a city then you need a lot of money. If you didn't then it wouldn't be the nice part of the city.

Desirable regions, like the northeast or the pacific northwest. I wouldn't live in Texas if you paid me to.

If you don't have the money then you don't deserve to live there.

LMAO @ condocucks

>no property ownership
>retarded condo fees that only get worse with age, going to skyrocket eventually thanks to the speed and low quality construction
>all the downside of living in an apartment but you're stuck there paying retarded fees

Why the FUCK would anybody buy a condo

no one deserves to live 30 minutes outside of dallas

>Veronica Moser
you mother fucker

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yeah, because no one wants to live in the Swedish Caliphate.

Anyone have some insights into the Calgary rental market? Seems like it's going up, while condo prices are still low as a dog shit.

We gotta be going up from here right anons?

i'd wager on either staying steady or going up slightly, hard to see Calgary improving unless the price of oil goes up.

Calgary is fucked, interest rates are going to double from here easily and the oil industry has been gutted

No.

Redpill us on euro property, its so difficult to find good euro financial analysis

Anyone have insight on acreage markets? Seems like when people talk about a bubble popping in housing it's either Toronto or HongCouver. Would love to snatch up a cheap little farm or something to get myself the fuck out of the city.

My business is doing well this year and I want to buy a warehouse or maybe a house. I just need an office for my business to operate, and a 2 car garage, so I'm guessing a house would be a better investment than a warehouse because then I'll need a house too.

I'm earning $10k a month right now, and I'm 22, is it possible to get a mortgage? I can have a $50k down payment or a $100k down payment easily with help from parents and I don't have a GF or any debt, even on the business.

Ontario fag btw.

10k a month? you'll get around 500-600k mortgage. depending on where you want to live you could afford a house.

I got a mortgage for 180k when I was 19, put 30k down, all my money was just from like google adsense, was only making $4k/mo.

what was your website/ecommerce site of?

If listing to rap music taught me anything it is put everything in yo mama name.

In Canada living with a chick for two years will give her claim to any increases in value of your assets.

So unless you need the first time buyer credits / loan its better in yo mama name.

bump for more knowledge

It’s harder to get a mortgage now in Ontario because you have to qualify at higher interest rate as they anticipate it will rise. Bigger down payments required and banks are really doing their due diligence. Some folks will be fucked by a rate hike.

Canadian wiggers must be the fucking worst...

This was a very long time ago, at the time it was just a website with myspace layouts on it.

Whats this bitches name

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Leni Stewart on Ig