Comments on: Mass. confusion http://www.greaterfool.ca/2009/08/20/balls/ Book and Weblog - Authored by Garth Turner Wed, 08 Feb 2012 17:27:12 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jwk (nee jwkimba) http://www.greaterfool.ca/2009/08/20/balls/comment-page-3/#comment-40152 jwk (nee jwkimba) Tue, 25 Aug 2009 14:41:28 +0000 http://www.greaterfool.ca/?p=3229#comment-40152 P.S. we paid 113k cash for a 2bed co-op south of lakeshore in etobicoke. We'll put in 20k to have it gutted and redone. (reno started on Aug 17th.) If we ever sell it, we'll do the VTB thing. We list our downtown condo this week and should clear 150k on it. We plan to sit tight by the lake for a few years and see what happens in the housing market. 1) 105k 2) 113 +20 3) 100% 4) 0 5) 3% (MBA loans) P.S. we paid 113k cash for a 2bed co-op south of lakeshore in etobicoke. We’ll put in 20k to have it gutted and redone. (reno started on Aug 17th.) If we ever sell it, we’ll do the VTB thing.

We list our downtown condo this week and should clear 150k on it. We plan to sit tight by the lake for a few years and see what happens in the housing market.

1) 105k
2) 113 +20
3) 100%
4) 0
5) 3% (MBA loans)

]]> By: jwk (nee jwkimba) http://www.greaterfool.ca/2009/08/20/balls/comment-page-3/#comment-40151 jwk (nee jwkimba) Tue, 25 Aug 2009 14:37:42 +0000 http://www.greaterfool.ca/?p=3229#comment-40151 #137. I think I saw that exact house in summer 0f 2008. Wife and I were out looking. It was a post-war 2 bed brick bungalow surrounded by McMansions. Loverly interior, stained glass windows, crystal door knobs, original wood, just beautiful. It is not near lawrence, it is closer to 401. you can hear the traffic on Avenue road from yard. It is not near *anything* and you would be driving to buy milk, the paper, groceries, to the park etc. List was 850k. We were amazed/astounded/horrified. Sad, but not surprised to see the buyer tore it down and rebuilt. But , say 800k + 400k to build. Margin is not that great for builder. Carrying costs must be a killer. new house looks souless and void to me. #137. I think I saw that exact house in summer 0f 2008. Wife and I were out looking. It was a post-war 2 bed brick bungalow surrounded by McMansions. Loverly interior, stained glass windows, crystal door knobs, original wood, just beautiful. It is not near lawrence, it is closer to 401. you can hear the traffic on Avenue road from yard. It is not near *anything* and you would be driving to buy milk, the paper, groceries, to the park etc. List was 850k. We were amazed/astounded/horrified.

Sad, but not surprised to see the buyer tore it down and rebuilt. But , say 800k + 400k to build. Margin is not that great for builder. Carrying costs must be a killer.

new house looks souless and void to me.

]]> By: Dark Wettler http://www.greaterfool.ca/2009/08/20/balls/comment-page-3/#comment-39924 Dark Wettler Sun, 23 Aug 2009 16:59:20 +0000 http://www.greaterfool.ca/?p=3229#comment-39924 Immigration’s impact on Canadian real estate values is about nil. It amounts to 0.625% of the population annually. As for buying now, go ahead. We’ll watch with interest. –Garth That figure of .625% I assume to be a National average, though I haven't seen it published myself. Immigration to the US runs just over 1%. Immigration to areas like the Lower Mainland and Okanagan have been running over twice that for several years but are predicted to come down to the national average over the next decade. There are clearly areas in the country where immigration has had an impact on demand for housing. In the future this may be offset by an aging population and corresponding increase in the mortality rate. My area in the BC Kootenay region as well as North Sunshine Coast to Mid Coast areas of the province are actually forecast to have net negative population growth going forward, as I'm sure will be the case in many areas of the country. Curiously, the Squamish-Lillooet region is forecast to have the greatest population growth in BC by a wide margin, over 100% by 2031. The point is that though immigration has impacted certain regions differently, one cannot assume it will help to put a floor under real estate prices in places like Vancouver in the future. Immigration’s impact on Canadian real estate values is about nil. It amounts to 0.625% of the population annually. As for buying now, go ahead. We’ll watch with interest. –Garth

That figure of .625% I assume to be a National average, though I haven’t seen it published myself. Immigration to the US runs just over 1%. Immigration to areas like the Lower Mainland and Okanagan have been running over twice that for several years but are predicted to come down to the national average over the next decade.

There are clearly areas in the country where immigration has had an impact on demand for housing. In the future this may be offset by an aging population and corresponding increase in the mortality rate.

My area in the BC Kootenay region as well as North Sunshine Coast to Mid Coast areas of the province are actually forecast to have net negative population growth going forward, as I’m sure will be the case in many areas of the country.

Curiously, the Squamish-Lillooet region is forecast to have the greatest population growth in BC by a wide margin, over 100% by 2031.

The point is that though immigration has impacted certain regions differently, one cannot assume it will help to put a floor under real estate prices in places like Vancouver in the future.

]]> By: wayne http://www.greaterfool.ca/2009/08/20/balls/comment-page-3/#comment-39859 wayne Sat, 22 Aug 2009 20:33:21 +0000 http://www.greaterfool.ca/?p=3229#comment-39859 Why are the condo fees so high in Calgary? We are seeing in the 350-600 range. Why are the condo fees so high in Calgary? We are seeing in the 350-600 range.

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