SychosSoChic 9,995 Posted April 17, 2017 Share Posted April 17, 2017 I remember you made a thread regarding this issue a couple of months ago I never actually thought things would escalate to this point though Life ain't Hollywood for any one of us. Link to post Share on other sites More sharing options...
Teal Ambition 47,805 Posted April 17, 2017 Share Posted April 17, 2017 9 minutes ago, Nafen said: Holy crap! That is insane! Glad to be in Ottawa... Such an underrated city! i'm glad our house prices aren't as ridiculous, but our city is pretty lame lol ▌│█║▌║▌║ before I am Canadian, I am Chromatican ║▌║▌║█│▌ Link to post Share on other sites More sharing options...
Teal Ambition 47,805 Posted April 17, 2017 Share Posted April 17, 2017 14 minutes ago, Interstellar said: In 2009, my family bought a brand new house in rural Saskatchewan for $85,000 Now, I'm studying in Vancouver and know for a fact I would never purchase a house in a major city. Omg that's crazy It's probably impossible to even find something like that here ▌│█║▌║▌║ before I am Canadian, I am Chromatican ║▌║▌║█│▌ Link to post Share on other sites More sharing options...
Economy 52,835 Posted April 17, 2017 Author Share Posted April 17, 2017 9 minutes ago, Nafen said: Holy crap! That is insane! Glad to be in Ottawa... Such an underrated city! Montreal and Ottawa are the only major cities in Canada still largelly untouched by the bubble... Unless it pops soon, you guys are next Link to post Share on other sites More sharing options...
Economy 52,835 Posted April 17, 2017 Author Share Posted April 17, 2017 9 minutes ago, GerMC said: Those two arent helping matters tbh telling ppl u must renovate and increase home values Link to post Share on other sites More sharing options...
Monster34 974 Posted April 17, 2017 Share Posted April 17, 2017 Omg, this makes me regret not buying that 1 King West bachelor condo for C$267k 2 years ago so muchhhh. Although maintenance was C$700/month, like bish that's 1/2 rent of a brand new bachelor condo on Bay Corridor near Bloor Street. Edit: 1 King West is fancy af with valet service and $hei$$e but it had bad reputation because half of the building is hotel, and initially residential condos were taxed super high due to classification as commercial property rather than residential, they changed the status of all those condos to residential but bad reputation stayed; although I just checked condos.ca there is no listing from that building not even in 300k range for a studio let alone bachelor, surge is real. Link to post Share on other sites More sharing options...
Gaga Monster 13,001 Posted April 17, 2017 Share Posted April 17, 2017 11 minutes ago, DeanWinchester said: Yes but Canada is smaller in scale and focused mainly in two large cities--one of which has a very strong local economy (Toronto) that can support the housing market for longer compared to Vancouver It started in the US but affected global economy 10 minutes ago, LePetitMonstr said: Oh sis. If either China or the U.S.A fail, the WHOLE world fails Yeah I made a mistake. It affects the whole world. I just think it began in the USA GGD Presidential Elections Link to post Share on other sites More sharing options...
Maleficent 6 Posted April 17, 2017 Share Posted April 17, 2017 I'm in the Vancouver area and I flipped a condo for a six figure profit. Moving to Montreal next year, though I'm not sure taking on a flip as a side project is economical there. Renting out, perhaps?? Link to post Share on other sites More sharing options...
DeanWinchester 41,390 Posted April 17, 2017 Share Posted April 17, 2017 4 minutes ago, Economy said: Montreal and Ottawa are the only major cities in Canada still largelly untouched by the bubble... Unless it pops soon, you guys are next I don't really see Ottawa at risk. The reason Toronto and Vancouver has this is because they attract immigrants better. Montreal is half-Anglophone, half-Francophone but with stronger ties to French culture, which means only immigrants from francophone countries are more likely to settle there. Ottawa is just kind of bland. Flyin' like a 1000 Doves Link to post Share on other sites More sharing options...
Luc 4,776 Posted April 17, 2017 Share Posted April 17, 2017 why do people still buy houses? Are people that naive to think prices will never fall? to be honest I don't think a crisis in Canada will mean a global recession.. hopefully it will force other countries to do something about housing prices. No way I'm ever buying a house in Amsterdam with prices like this (rising 20%+ a year). I'll just wait for the next housing crisis . A teacher of me bought a house in 2007 and boy does he regret it Link to post Share on other sites More sharing options...
Monster34 974 Posted April 17, 2017 Share Posted April 17, 2017 Looking from bright side, I won't be buying a house anytime soon since my dad left the idea of investing into housing market. I am still an undergrad, and buying a house closes many opportunities; now, I have freedom to move wherever, whenever I want. Link to post Share on other sites More sharing options...
Nafen 417 Posted April 17, 2017 Share Posted April 17, 2017 7 minutes ago, DeanWinchester said: I don't really see Ottawa at risk. The reason Toronto and Vancouver has this is because they attract immigrants better. Montreal is half-Anglophone, half-Francophone but with stronger ties to French culture, which means only immigrants from francophone countries are more likely to settle there. Ottawa is just kind of bland. Ottawa is not bland! Link to post Share on other sites More sharing options...
DeanWinchester 41,390 Posted April 17, 2017 Share Posted April 17, 2017 8 minutes ago, Luc said: why do people still buy houses? because renting costs almost as much now or even higher 1 minute ago, Nafen said: Ottawa is not bland! I'm sorry. Its historical landmarks are beautiful and exciting but overall it doesn't reach half the excitment and goings on of cities like Montreal, Quebec or Toronto Flyin' like a 1000 Doves Link to post Share on other sites More sharing options...
Maleficent 6 Posted April 17, 2017 Share Posted April 17, 2017 10 minutes ago, DeanWinchester said: I don't really see Ottawa at risk. The reason Toronto and Vancouver has this is because they attract immigrants better. Montreal is half-Anglophone, half-Francophone but with stronger ties to French culture, which means only immigrants from francophone countries are more likely to settle there. Ottawa is just kind of bland. Vancouver also has a spacing location. In my area, there is no more room to build houses ( and there are strict regulations against multi-family homes). Demand is high and resources are scarce. Lots of condos are being built, so hopefully that will help cool things down. Link to post Share on other sites More sharing options...
Nafen 417 Posted April 17, 2017 Share Posted April 17, 2017 4 minutes ago, DeanWinchester said: because renting costs almost as much now or even higher I'm sorry. Its historical landmarks are beautiful and exciting but overall it doesn't reach half the excitment and goings on of cities like Montreal, Quebec or Toronto Sure! Party in those cities but Ottawa's quality of living is unmatched. "The city is the most educated in Canada, and is home to a number of post-secondary, research, and cultural institutions, including the National Arts Centre and the National Gallery. Ottawa also has the highest standard of living in the nation and low unemployment. It ranked second out of 150 worldwide in the 'Numbeo' quality of life index 2014–2015" - Wikipedia And we are getting a LRT/subway Link to post Share on other sites More sharing options...
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