Wow. Awesome idea! And it will only cost $40 trillion!!

If you’re buying a home in Windsor because you want to be closer to friends and family and you enjoy the milder weather I can respect that. Unlike a few responses here, there are some very attractive reasons to live in and around Windsor and some really nice areas to live in Windsor and surrounding areas.

It also sounds like you wish to purchase a house as a home and not some vehicle that you hope to make quick money on which is good as well.

However, I would seriously wait until the fate of Chrysler becomes clear. If Chrysler pulls out of Canada, Windsor’s unemployment will shoot up from the 10.6% it is currently at to close to if not over 20% once all the trickle down effects are taken into account from the loss of so many thousands of high paying jobs.

I know you say that you want to buy a house for the purpose of it becoming your home but why buy now knowing that there is such a dire situation in Windsor where, if Chrysler pulls out, unemployment could reach depression levels and housing prices could plummet even more?

A home is still an investment and you are responsible to save guard your family’s investments.

Why invest in a home in Windsor, at this time, knowing that right now there is a high possibility that this investment could lose 10, 20, 30% of it’s value in the near future.

If you think I’m exaggerating the situation, then you need to do some research. Go to the following link, it is the Windsor-Essex County Real Estate Board (Essex County INCLUDES Leamington and Kingsville plus Amherstburg and other small towns in the area) web site.

http://www.windsorrealestate.com/newsStats.aspx

In the February stats PDF you will see that February sales were DOWN 32.37% year over year and the average price was DOWN 15.71% year over year!

Plus available listings at the time of the February report were 3,539 (that is the supply of housing that was available at that time). The number of sales in all of February were 234, that’s it. So dividing 3,539 Feb listings by 234 Feb sales and you have over 15 months supply of homes on the market! From what I understand anything over a six months supply is considered a buyers market.

But, even as bad as things are in the Feb report, if Chrysler pulls out and 8 to 9 thousand high paying jobs are lost (over 4,000 CAW jobs at the mini van plant and it’s estimated over 4,000 supplier jobs, not even including all the trickle down jobs), things could go from bad to horrendous!!!

I have faith (or is that hope?) that in the end Chrysler won’t pull out of Canada, but I won’t put money on it and certainly wouldn’t take out a mortgage on anything in Windsor OR Essex county until this economy/automotive situation bottoms out and we’re not near that point yet.

Squidly77: ” were all going down…its gonna be ugly”
Vancouver Citizen Jr.: ”it’s really different out here”
Etc.

idiot bear vs idiot bull