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OT - Toronto Real Estate

I'll take this over any city all day. Best move I ever made

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Leafovic said:
This sounds about right. You met some random guy, he told you not to move to Toronto if you don't make 250k, and now you live by this.
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lol...

in 99 you could have bought a nice house in Toronto for about 400K...So roughly 2500 a month with property taxes. 250K a year? Maybe buddy just didn't like Johnny and didn't want him moving to Toronto.
 
JackBurton said:
It has gotten crazy. I bought in Pickering 7 years ago and the person I bought it from cancelled a bunch of showings the next day and gladly took 15K less than the asking price. Last month my neighbor sold for 91K over the asking price with 17 bidders. It's nutty.
I have friends who own near mansions in Montreal who's homes are worth a lot less than my little place.
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Never pass up a shot at Montreal. You are the Wehave of this board.
 
Habsy said:
Move to expensive Toronto right?


It's amazing that Toronto has become as expensive as Manhattan and San Francisco. From what I am reading though you may have to actually go even further out in Toronto than those cities to find stuff in the $500K range. Completely insane.
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Vancouver is worse.
 
MindzEye said:
lol...

in 99 you could have bought a nice house in Toronto for about 400K...So roughly 2500 a month with property taxes. 250K a year? Maybe buddy just didn't like Johnny and didn't want him moving to Toronto.
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Possibly. I tell whoever will listen that I'm from Ottawa and a huge Sens fan.

Actually got my job interviews mixed up. This one was 2006, not 1999, if that makes the numbers make more sense.

Got offered that job and turned it down over money as well.
 
Welcome to how LA has been for the past 20 years.

I really don't get how people do it. I haven't take a dime from anyone and bought a place in 2012. Friends of mine have frequently bought a place with help from parents. But how the rest of the city's prices are sustained and by whom I just don't understand. To get into a good house in a good area here is minimum, minimum $2M. Which means you have to come up with a minimum $400k down, probably more, and the carry a $8k per month mortgage plus another $25k per year in property taxes. How many people are clearing enough to cover just the $10k per month on mortgage and property tax, not to mention all the other expenses of car, health insurance, etc.
 
When/if interest rates go up, the next recession will wreak havoc on real estate markets. However, we might be in the midst of a multi decade period of slow growth and low rates. We'll see...
 
CH1 said:
When/if interest rates go up, the next recession will wreak havoc on real estate markets. However, we might be in the midst of a multi decade period of slow growth and low rates. We'll see...
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That would beat the ever loving shit out of personal savings...would almost make more sense to die heavily indebted than to save anything under those conditions.
 
MindzEye said:
That would beat the ever loving shit out of personal savings...would almost make more sense to die heavily indebted than to save anything under those conditions.
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yep. Japan has been using low rates as stimulus for over 20 years. Recently went negative. It costs to save, money is free, yet still no inflation. Of course, they have very little in terms of immigration so their demographics are a bit of a mess.
 
Yeah, Japan is going to be an interesting case study in 50 years. They're either going to have to open up the doors, or they're going to see major contraction in population and economy. Shit...20 years might be enough to see it happen, but looking at it through the lens of history is going to be interesting as hell.
 
Japan is a pretty interesting place.

I spent a little bit of time there a few years ago.

They really don't have much use for foreigners, and penetrating a social circle as an outsider seemed to be mission impossible.

They pretty much define xenophobia. Plus the whole anime and no sex thing is pretty bizarre. I think the radiation from the nukes really ****ed them up.
 
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