Post whatever is on your mind!!

[Screw]

^^^yep, same here.
I don't recall the guidance counselor EVER suggesting brewmaster. Niagara College offers a degree in beer and wine.

http://canadianfoodandwineinstitute....ms/brewmaster/


woo-hoo!

There you go perfect ^^ with all these micro brewery's popping up seems like a plan

[WTF]

and........the real estate lunacy just continues to go full retard on my street

2 houses listed and sold in 2 weeks

1) 1940s aluminum 800 sq ft shack.....$1,349,000
2) new build right across the street......$2,448,000

these are 40 foot lots

seems every time a house sells (whether old or new)...the next one listed bumps the price by 1-200 thousand bucks.....and they just get gobbled up like nothing

how the fuck do these prices just keep going up like this?

[Stephen06GT]

and........the real estate lunacy just continues to go full retard on my street

2 houses listed and sold in 2 weeks

1) 1940s aluminum 800 sq ft shack.....$1,349,000
2) new build right across the street......$2,448,000

these are 40 foot lots

seems every time a house sells (whether old or new)...the next one listed bumps the price by 1-200 thousand bucks.....and they just get gobbled up like nothing

how the fuck do these prices just keep going up like this?

And who can afford it? At those prices I probably couldn't afford to pay the taxes let alone the mortgage.

[speedfreak]

Woohoo income tax return came in, time to pick up a new heart for ugly duck and OH YA BABY get my ass to Algonquin park in 2 days from now! WOOHOO!!!

[Armen]

Ya that's a good question Stephen.... Tim, what are property taxes like there on an original home?

[True Blue]

and........the real estate lunacy just continues to go full retard on my street

2 houses listed and sold in 2 weeks

1) 1940s aluminum 800 sq ft shack.....$1,349,000
2) new build right across the street......$2,448,000

these are 40 foot lots

seems every time a house sells (whether old or new)...the next one listed bumps the price by 1-200 thousand bucks.....and they just get gobbled up like nothing

how the fuck do these prices just keep going up like this?

It's just unreal... With the huge demand for homes and limited supply, this is only part of the reason. But what I'm seeing is the driving force that is causing this madness is foreign investors.

[WTF]

Ya that's a good question Stephen.... Tim, what are property taxes like there on an original home?

my PT is around $4200/year.....we've been here 19 years and were paying around $2200/year in 1997 when we paid $244,000 for the place

I'm not sure how they recalculate on one of these new builds that sells for $2million++ with 6 fucking bathrooms but I'd bet the PT is well over $10,000/year now

so yeah....for those of us that bought in the 1990s, the PT on these new builds looks alot like what we were paying for mortgage payments

[WTF]

It's just unreal... With the huge demand for homes and limited supply, this is only part of the reason. But what I'm seeing is the driving force that is causing this madness is foreign investors.

yup....if you're some Hong Kong Gozillionaire wanting to park your money in something that keeps making double-digit increases annually...you apparently can't go wrong buying up detached houses in either Vancouver or Toronto

to think that I coulda bought my crusty neighbour's place 2 years ago for $800k and just let it sit there for 2 years and flip it for a $500k profit is just hard to comprehend

[TheMustangShow]

It's just unreal... With the huge demand for homes and limited supply, this is only part of the reason. But what I'm seeing is the driving force that is causing this madness is foreign investors.

Limited supply is also being fueled by a whole generation of kids that just live at home until they're 30 or their parents pass away and then take over the property by inheritance.

Many "kids" are not moving out and "empty nests", that typically would be put up for sale when the Parents downsized after their kids moved out are not joining the residential inventory pool.

There's a 27 year old and 30 year old on my street, both living with Mommy and Daddy and they're drivin' Bimmers. LOL!

GTA is a world market now, has been for years, domestic prospective homeowners are competing with Hong Kong, US, Russian and Arab money when it comes to buying a home.

The good news for them is they are not trying to buy in Vancouver, which is even more retard.

[WTF]

Limited supply is also being fueled by a whole generation of kids that just live at home until they're 30 or their parents pass away and then take over the property by inheritance.

Many "kids" are not moving out and "empty nests", that typically would be put up for sale when the Parents downsized after their kids moved out are not joining the residential inventory pool.

to add to that.....if the parents keep seeing one of their most valuable assets continue to deliver double-digit increases each year.....then why would they sell?

my crusty neighbour downsized 2 years ago and lost out on $500,000 more in her pocket if she'd held out until now

if she downsized to a $400k condo.....then she just lost a free condo