[canarob]

I will say this at least: buying existing homes and adding secondary units is better for the housing market than the hundreds (thousands?) of small local companies that are tearing down smaller homes to build massive new SFHs all across the region. Bungalows used to be affordable starter homes but they are all being replaced by mansions.

 

[PinkLucy]

Both things are happening where I live.

 

[Undead]

You can be in the know, but choose not to use your knowledge.

NMP.

 

[PinkLucy]

I didn’t say it was your problem. But it would be polite to simply let people know that the article you are sharing is paywalled.

 

[Eug]

According to today's housepriceindex.ca database update, houses are now worth 2.75X as much as when I bought back in August 2007, with the Toronto index breaking through the psychological 300 barrier for the first time in history. (The index was arbitrarily set at 100 for June 2005.)

https://housepriceindex.ca/#maps=on_toronto

That may be true overall according to their criteria, but that definitely doesn't apply in my neighbourhood. If that 2.75X were true here, that would put the nicer homes way over the cutoff of what Re/Max calls the "uber-luxe" category. Crazy.

Uber-Luxe Toronto Real Estate Homebuying Activity in 2020 - RE/MAX

Greater Toronto real estate market sees record sales over $3 million in 2020. Sales of freehold and condo properties up 56% over 2019 figures.

blog.remax.ca

However, the neighbourhood isn't traditionally a high end luxury home type neighbourhood. It's one thing for homes in a neighbourhood to double from $750000 to $1.5 million, but it's a completely different thing for homes in a neighbourhood to double from $2 million to $4 million, at least for some neighbourhoods that is. Yes, it's a nice neighbourhood with nice lots and some nice homes, but people buying $4 million homes generally will look elsewhere.

 

[Jonny5]

Only $99,000!
Read the description first though.

Check out this listing

V/L BROCK STREET, Shrewsbury, Ontario N0P1A0

www.realtor.ca

 

[p_xavier]

Well bubbles can be seen easier under water!

 

[lenaitch]

Only $99,000!
Read the description first though.

Check out this listing

V/L BROCK STREET, Shrewsbury, Ontario N0P1A0

www.realtor.ca

I saw that on another forum via a CBC article, which includes an aerial:

https://www.cbc.ca/news/business/lake-erie-lot-1.6091809

It would be interesting to read the title document, as owning lake bottom, let alone to the waterline, is quite rare. Interesting that you would own the land but not the water over it.

 

[Jonny5]

I saw that on another forum via a CBC article, which includes an aerial:

https://www.cbc.ca/news/business/lake-erie-lot-1.6091809

It would be interesting to read the title document, as owning lake bottom, let alone to the waterline, is quite rare. Interesting that you would own the land but not the water over it.

I wonder if what was originally dry land has been lost to erosion? This is apparently a big problem on the Lake Erie shore out there.

 

[lenaitch]

I wonder if what was originally dry land has been lost to erosion? This is apparently a big problem on the Lake Erie shore out there.

That's an interesting angle I hadn't considered. A title/land survey history would no doubt reveal that.

 

[slickpete83]

I just saw a very funny parody tv commerical on CP24 a few days ago , making fun of real estate agents and their high commissions , it was for some company that sells your home for a flat rate , does anyone remember what company it was ?? would be funny to post it on here

 

[dusk]

Anyone else find it interesting that when they talk to the average person concerned with home prices they mention things like rent control, foreign investors, and small apartments but never single family zoning, low interest rates, and opposition to new development?

What would it take to move the needle in the mind's of the average citizen as to the real causes of this crisis?

 

[denfromoakvillemilton]

11 year old thread. Not normal.

 

[slickpete83]

government -"don't worry , we solved the problem by making a billboard for moral support"

 

[Admiral Beez]

From the Star https://outline.com/YYRuEd

Nearly 20 per cent of GTA homeowners under 35 own more than one property, survey finds​

While real estate has become a hard market for millennials to get into, Karen Millar, sales representative at Royal LePage, said those who have second properties are often ones that got into the market early. They have been able to use equity from their previously purchased property — which has since gone up in value — to buy another home, often, a bigger home and sometimes outside of the city.

Many keep their first property to rent out as a source of income, she said.

“It’s all driven by the equity that the market has given them,” Millar said. “It’s looking at where you can buy and what you can buy for that money that will carry itself.”