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Crazy Real Estate market !!!

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  • Re: Crazy Real Estate market !!!

    And, we'd have no Hydro, gas or water bills, and tax on an empty lot (have to own land in the province!) wouldn't be that bad. Hmmm. Sounding more appealing every second.

    Originally posted by Bern View Post
    I would do it all to excess.
    This isn't a dress rehearsal. Enjoy yourself. There's no do-over.

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    • Re: Crazy Real Estate market !!!

      Originally posted by mpare View Post
      And, we'd have no Hydro, gas or water bills, and tax on an empty lot (have to own land in the province!) wouldn't be that bad. Hmmm. Sounding more appealing every second.
      Those beasts have their own costs, but what fun you would have.
      I spent time in my youth driving around North America in a VW camper van with my girlfriend. Time well spent.

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      • Re: Crazy Real Estate market !!!

        Has part of that memory disappeared in a foggy haze? If so, I can think of at least one reason why you had fun.

        Originally posted by Bern View Post
        Those beasts have their own costs, but what fun you would have.
        I spent time in my youth driving around North America in a VW camper van with my girlfriend. Time well spent.
        This isn't a dress rehearsal. Enjoy yourself. There's no do-over.

        Comment


        • Re: Crazy Real Estate market !!!

          Originally posted by mpare View Post
          Has part of that memory disappeared in a foggy haze? If so, I can think of at least one reason why you had fun.
          Thankfully my memory is perfect.

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          • Re: Crazy Real Estate market !!!

            Originally posted by Bern View Post
            Thankfully my memory is perfect.
            How would you know?

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            • Re: Crazy Real Estate market !!!

              Originally posted by Bern View Post
              Thankfully my memory is perfect.
              Originally posted by Benz View Post
              How would you know?
              Precisely, if you remember the 60's, you weren't really there.

              Fortunately there are no rules limiting the number of golf balls you can carry during a match!

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              • Re: Crazy Real Estate market !!!

                Originally posted by Fore Warned View Post
                Precisely, if you remember the 60's, you weren't really there.
                I'm not that old!

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                • Re: Crazy Real Estate market !!!

                  I remember parts of 1965 to 1969.

                  Originally posted by Bern View Post
                  I'm not that old!
                  This isn't a dress rehearsal. Enjoy yourself. There's no do-over.

                  Comment


                  • Re: Crazy Real Estate market !!!

                    Originally posted by mpare View Post
                    I remember parts of 1965 to 1969.
                    Riiiight on man...right on......

                    Fortunately there are no rules limiting the number of golf balls you can carry during a match!

                    Comment


                    • Re: Crazy Real Estate market !!!

                      Originally posted by Fore Warned View Post
                      Riiiight on man...right on......
                      I wish I'd grown up in a generation that could afford to get wasted and still make out like bandits, that has something to do with today's real estate right?

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                      • Re: Crazy Real Estate market !!!

                        We digress....back to regular programming.

                        According to some, Toronto real estate is not out of line with other world centres... Toronto Star...

                        Toronto’s home prices in line with other world cities

                        The majority of interest in residential properties comes from families, says a CBRE real estate expert.


                        Fortunately there are no rules limiting the number of golf balls you can carry during a match!

                        Comment


                        • Re: Crazy Real Estate market !!!

                          Originally posted by mpare View Post
                          Housing prices in Newmarket have hit the stratosphere. A house in our neighbourhood has just sold for 800k! If I sold mine for a similar price, would it be unseemly if my wife and I lived out of a high end motor home and spent the balance travelling North America seeing the sights, playing golf, drinking wine and generally smiling all day?
                          Have thought the same thing, but then am reminded about the old movie Lost in America.

                          Comment


                          • Re: Crazy Real Estate market !!!

                            Do you think that the craziness in the USA can help sustain the boom in GTA real estate? Just trying to consider whether its time to sell.

                            Comment


                            • Re: Crazy Real Estate market !!!

                              Originally posted by golfinseb View Post
                              I wish I'd grown up in a generation that could afford to get wasted and still make out like bandits, that has something to do with today's real estate right?
                              It sure does. In 1972 I could have bought the 100 acre farm next to my parents for $7,600. That would be $45,600 in today's $$.

                              Any old hippie could have worked a Joe job, forgot a large part of the '60s and made out like bandits. Timing is everything.
                              In The Bag

                              Golf clubs


                              "You're just expected to work and die ...
                              and maybe buy some useless s**t you don't need inbetween"

                              Comment


                              • Re: Crazy Real Estate market !!!

                                Originally posted by hackerhare View Post
                                Do you think that the craziness in the USA can help sustain the boom in GTA real estate? Just trying to consider whether its time to sell.
                                It would not hurt but not sure it drives anything. From a simple Economics picture there is no way the last few years increases are sustainable, that is pretty clear. The question is when does it end and what is the reaction. Is it a soft landing with more no to low increases for several years or does the market stumble backwards and pullback, if so by how much? 10%? 20%? 40%?

                                For sake of argument, lets say a 25% pullback in about 1 - 2 years from now. Does that put prices back to 2017 levels? 2016 levels? Likely not much more than that.

                                From my perspective, if looking to sell but not move clear of the city, not sure there is any reason to do that right now. To sell and rent hoping for a pullback to buy back in is a timing play and those do not often work out well. The odds of having to buy back in at a higher price seem just a plausible as buying back in at a reduced price.

                                If one is not planning on selling for decades then that is the best spot to be in as you can ignore the insanity. For those looking to buy now, either first time or move up to a larger place, I have sympathy for them.

                                I am of the overall opinion that Toronto is not on the precipice of a large collapse but can see a soft landing with a period of little to no appreciation starting in a few years when interest rates rise. Not sure I am convinced of a large scale pullback, but could see a short term 15 - 20% pullback if prices raise by 10% or more in 2017 and again in 2018, in other words, pulling back to current levels. I think the worst case scenario might be a 30% pullback, so not the 40% experienced in 89 but enough to wipe out 2 - 3 years of gains with maybe a 5 year recovery timeframe.

                                All is gut feel and guesswork.

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