News, Hardheaded Socialism Makes Canada Richer Than U.S. (prices, assessment)

[ellemint]

Originally Posted by netwit

That's as nonsensical as saying that the little bungalow down the road with a selling price of $200,00 would sell for $500,000 in Vancouver. What would the little Toronto bungalow sell for on Rodeo Drive in Beverly Hills?

Oh, about $599,000.....

http://www.realtor.com/realestateand...0_M23927-49644

[smihaila]

Originally Posted by Tom9

Whatever the reason Canada sure dodged the recent "super-recession" bullet which is something neither the US or the EU can say.

Not too many are aware of the fact that Canada did receive quite a big bailout from the Government - see the commercial paper/ABP crisis. But the socialist "intelligentsia" made sure that will not be advertised in media.

Financial investments-wise, there are waaaay more white collar thieves and crooks than in US...Because here the financial markets are not properly regulated.

[smihaila]

I would prefer a country where the hard work and initiative is rewarded better, over a country providing uniformity and egalitarianism to the large masses. And a privatized healthcare system. What is here in Canada (in Ontario at least) as healthcare is simply a sinister joke.

[botticelli]

Originally Posted by netwit

That's as nonsensical as saying that the little bungalow down the road with a selling price of $200,00 would sell for $500,000 in Vancouver. What would the little Toronto bungalow sell for on Rodeo Drive in Beverly Hills?

Beverly Hills is a city and it is not that expensive as many people imagine. For example condos in BH is a LOT cheaper than say our King West, or Yorkville. You can easily buy a condo for 250K there. Many two bedrooms sell for $300K. Try that anywhere in downtown TO. You can't get it in Parkdale or Regent Park.

Many luxury houses are expensive because they are huge, but they are not necessarily pricier than Bridle Path.

[travis3000]

You can't compare real estate prices in one of the most desired real estate markets in Canada to an average everyday US city. For instance, when I was in Cleveland I saw many great suburb homes on large lots selling for $120,000. I was shocked how cheap it was. However, before the big crash that home was selling for over $250,000! So people are forgetting, the real estate prices in the US are still historically low and will be rising in the future. That same Cleveland suburb home in Toronto would go for $550,000 however in NYC it would still probably go for $550,000 as well (before the crash it would have been even more expensive). And to be fair, Vancouver and Toronto are the NYC of real estate in Canada. You simply cannot compare real estate values in those cities to regular US cities. I am in real estate, so I can understand why many people find it hard to compare properly. It's a very complex industry.

Regardless, to say healthcare in Canada is a joke? That's a bit drastic. I have lived here my entire life and never had a problem with the health care. I have many US friends, and have been to big US hospitals which are the size of entire small cities. I was in the Cleveland Clinic which goes on for 10+ blocks and has dozens of buildings associated with it. In the end, what good is all the fancy equipment and top notch doctors if 30% of the population can't afford the services, and the 70% that can afford it have to worry about being denied coverage for silly reasons. A system that is being ran for the purpose of profit simply does not provide the high level of service it's capable of providing. Investors are put first before patients. How can the general public win with that type of mentality? I agree 100% that the US has many of the worlds best doctors with the state of the art medical devices. But I also know that only the rich have the best access to those amazing doctors and equipment. In Canada, we still have very good doctors with great medical equipment. The only difference is... it doesn't matter if your making $0 per year or $10,000,000 per year... every single person here has access to the same level of health care. The end result of this is that the general population lives a healthier life with less disease. The average life span is higher in Canada and the healthcare system plays a big role in that. It's simple math, I know many people in the US who avoid going to the doctor because they don't want to pay, or they are afraid if they go too much then their insurance companies will find a way to deny them coverage of raise their rates. That can result in higher level of disease and ultimately death. People should never be afraid to visit their doctor, as diseases can be prevented and cured much easier when they are caught right away.

So say what you want about Canada's health care system... the reality is this: it's working better than the US system. Any statistic will tell you that. It's not perfect by any means and I myself could think of a few ways to critique it but I would take it any day of the week compared what the US has. I should say though, that Obamacare is also a step in the right direction for the US, if only it went a little further but I realize that's not realistic at this time.

[edwardsyzzurphands]

Originally Posted by travis3000

I should say though, that Obamacare is also a step in the right direction for the US, if only it went a little further but I realize that's not realistic at this time.

What is missing from the Bill that you would like added?

[botticelli]

Originally Posted by travis3000

And to be fair, Vancouver and Toronto are the NYC of real estate in Canada. You simply cannot compare real estate values in those cities to regular US cities. I am in real estate, so I can understand why many people find it hard to compare properly. It's a very complex industry.

No. While you simply can't compare real estate values in Toronto/Vancouver to regular US cities such as Cleveland, you can't compare them to New York City either.

A friend of mine who is fresh out of Columbia University this year got a job for $125k a year, with zero work experience. Can you do that in Toronto/Vancouver?

New York City is out of the league of every single North American city. Don't ever ever compare to it. It is like you can't compare housing price in Dublin with London, just because Dublin is "the London of Ireland", can you?

We all know real estate is a complex industry, but the fact you even think Toronto and NYC market are comparable makes one doubt your qualifications as a professional. Just comparing the biggest city is silly. You need to look at income, wealth, amenities, cultural offerings as well as global status as well, do you deny that?

[Tom9]

Originally Posted by smihaila

Not too many are aware of the fact that Canada did receive quite a big bailout from the Government - see the commercial paper/ABP crisis. But the socialist "intelligentsia" made sure that will not be advertised in media.

Financial investments-wise, there are waaaay more white collar thieves and crooks than in US...Because here the financial markets are not properly regulated.

I really don't know about that, there's no census on crooks but one thing is certain as seen in our last recession...when our people are corrupt, they are corrupt BIG TIME. Canada doesn't even come close to Citi Bank, Goldman and Sachs, AIG and Lehman Brothers etc. Who is Canada's Bernie Madoff? Now there's a thief with cantaloupes the size of watermelons. His only mistake by corporate standards? He got nailed.

[travis3000]

Originally Posted by botticelli

No. While you simply can't compare real estate values in Toronto/Vancouver to regular US cities such as Cleveland, you can't compare them to New York City either.

A friend of mine who is fresh out of Columbia University this year got a job for $125k a year, with zero work experience. Can you do that in Toronto/Vancouver?

New York City is out of the league of every single North American city. Don't ever ever compare to it. It is like you can't compare housing price in Dublin with London, just because Dublin is "the London of Ireland", can you?

We all know real estate is a complex industry, but the fact you even think Toronto and NYC market are comparable makes one doubt your qualifications as a professional. Just comparing the biggest city is silly. You need to look at income, wealth, amenities, cultural offerings as well as global status as well, do you deny that?

Buddy... chill out. A reading comprehension course might do you well. I did not say that Toronto and NYC are on the same playing field. Only an idiot would say something like that. If you read more carefully you would see I said "Toronto and Vancouver are the NYC's of Canada". That does not mean they are the same market. It simply means in Canada's world those two markets would be the closest thing to NYC in comparison. Of course they aren't at that level! Regardless, before the big real estate crash, NYC prices were still ahead of Toronto by a long shot. Even with the crash, NYC's real estate market is still a tad higher than Toronto. No doubt over time the market will continue to rise in NYC as the real estate industry recovers.

[botticelli]

Originally Posted by travis3000

Buddy... chill out. A reading comprehension course might do you well. I did not say that Toronto and NYC are on the same playing field. Only an idiot would say something like that. If you read more carefully you would see I said "Toronto and Vancouver are the NYC's of Canada". That does not mean they are the same market. It simply means in Canada's world those two markets would be the closest thing to NYC in comparison. Of course they aren't at that level! Regardless, before the big real estate crash, NYC prices were still ahead of Toronto by a long shot. Even with the crash, NYC's real estate market is still a tad higher than Toronto. No doubt over time the market will continue to rise in NYC as the real estate industry recovers.

Toronto is the NYC of Canada basically means nothing. It has nothing to do real estate price either.
Vancouver is far from the NYC of Canada. It is only the third largest city in Canada, a small country.

Are you sure NYC's current price is only a "tad" higher than Toronto? That would make it a lot cheaper than Vancouver, and I highly doubt that. Last time I check, condos start like $1200/sf in Manhattan. Sure Manhattan is not NYC, but to compare with the most desirable neighbourhoods in Toronto, such as the downtown core, I don't think we are anywhere close to $1200/sf, save those luxury ones such as the Shangrila, Trump, Four Seasons etc.

I don't know why people keep trying the argument "Toronto is the NYC in Canada". Does it mean anything at all? Dublin is the London of Ireland, Auckland is the Sydney of Australia. Dhaka is the Mumbai in Bangladesh, Who cares? Repeating it 1000 times doesn't make Toronto any more important than it is.