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The archeologist forgot to mention the price was pretty steep too.
oh, they might discover another one stop chariot system in the northeast part of the city as well, which cost $3.5 billion.
Of all the transit development going on I have to say the one stop 3.5 billion dollar subway extension is rather puzzling. I can't for the life of me understand why it is SO expensive. 5.3 billion for the entire Crosstown line with what 25 stations and mostly underground at that yet 3.5 for one stop - it is a head scratcher. I really would have preferred them just to modernize the existing Scarb LRT. The line and stops are already there. The DRL would have been a far better and more important development right now vs this debacle.
I'm finding young families, at least here in Vancouver, are no longer dreaming of a SFH. I know I appreciate the free time of not having to look after a yard and all the maintenance a SFH needs.
Yeah we enjoy highrise living as well. Great view of the DT core from our balcony plus we even have a BBQ that we're firing up this weekend that the nice weather is here
I only really know Vancouver, but the bubble is not bursting. There is always room for lesser corrections, but the gains were so large lately and it was so hot it's not a big deal to most people unless they bought very recently.
There's less than 50000 SFH and shrinking in Vancouver proper, and a growing population that would mostly not like to commute from way out the Fraser valley. So yes, demand will be high as long as the city grows, and others are right, a sfh is not a reasonable expectation for the average person, and really never will be. The condo market is still hot though.
People like to paint Vancouver like everyone is over leveraged, but some articles I've read on it is a very high percentage of homeowners own their house outright (almost half? I can't find any very recent numbers though). Certainly another large amount have mortgages they can reasonably afford.
Of all the transit development going on I have to say the one stop 3.5 billion dollar subway extension is rather puzzling. I can't for the life of me understand why it is SO expensive. 5.3 billion for the entire Crosstown line with what 25 stations and mostly underground at that yet 3.5 for one stop - it is a head scratcher. I really would have preferred them just to modernize the existing Scarb LRT. The line and stops are already there. The DRL would have been a far better and more important development right now vs this debacle.
Yeah, crazy.
Toronto was asleep at the switch for decades.
Montreal fared better, continuing to expand it's Metro in the 1980s/90s.
Toronto was ahead of Montreal, with first subway stations opened in 1954.
Hindsight 20/20...but Toronto should built one or two major subway lines back in the 1980s.
Labour and material costs were so much lower then, even taking inflation into consideration.
It costs much more to construct anything today.
Toronto was asleep at the switch for decades.
Montreal fared better, continuing to expand it's Metro in the 1980s/90s.
Toronto was ahead of Montreal, with first subway stations opened in 1954.
Hindsight 20/20...but Toronto should built one or two major subway lines back in the 1980s.
Labour and material costs were so much lower then, even taking inflation into consideration.
It costs much more to construct anything today.
At this point we cannot look back. The fact is however a lot of positivity is going on in transit development in the GTA including the fact that the largest transit build in Canadian history is happening right now in the Greater Toronto Area. I for one am most excited about the Crosstown LRT line. This is a pumped up LRT that is mostly underground that is a full 25 station line running across one of the busiest and most important arterials in the region with two interchange stations linking it with existing TTC lines.
I also hope this increased focus on transit development will be a reminder that we cannot take our eyes of the prize of continuing to mate transit development with growth of the region which is set to be over 10 million people by 2031.
I only really know Vancouver, but the bubble is not bursting. There is always room for lesser corrections, but the gains were so large lately and it was so hot it's not a big deal to most people unless they bought very recently.
There's less than 50000 SFH and shrinking in Vancouver proper, and a growing population that would mostly not like to commute from way out the Fraser valley. So yes, demand will be high as long as the city grows, and others are right, a sfh is not a reasonable expectation for the average person, and really never will be. The condo market is still hot though.
People like to paint Vancouver like everyone is over leveraged, but some articles I've read on it is a very high percentage of homeowners own their house outright (almost half? I can't find any very recent numbers though). Certainly another large amount have mortgages they can reasonably afford.
I'm one that owns outright, so I count myself lucky. The issue though, is younger people who want to buy. I'm not sure I would of been able to today if housing prices were what they are now back then.
Outside of downtown there is great potential for growth and affordable housing IF all 3 levels of government work together.
I've noticed along Main Street some pretty big new buildings going up. Not sure if they are rental, but I'm curious as to the costs.
Yeah we enjoy highrise living as well. Great view of the DT core from our balcony plus we even have a BBQ that we're firing up this weekend that the nice weather is here
We love our view as well. It's got great views of older early 20th century buildings, mixed with modern high-rises, a bit of a water view, and in the distance, mountains.
We aren't too high up, so also get to watch people in the building behind us play with their kids in the grass court area of their building, watch people have BBQ's and parties in the summer. Best of both worlds really.
I can even sit and watch people coming and going on the street into shops etc.
As much as I love getting away, and would think having a private yard a real bonus, I would miss the energy that living here in Yaletown, gives.
I'm one that owns outright, so I count myself lucky. The issue though, is younger people who want to buy. I'm not sure I would of been able to today if housing prices were what they are now back then.
Outside of downtown there is great potential for growth and affordable housing IF all 3 levels of government work together.
I've noticed along Main Street some pretty big new buildings going up. Not sure if they are rental, but I'm curious as to the costs.
My parents fall in that crowd also. They originally moved to Vancouver as they were young and didn't feel they could get ahead in Greater London. I personally moved from Vancouver to get ahead myself. Prices are what they are, nothing ever stays the same no matter how some people fight it. I imagine there's some people who have been sitting back in London complaining about prices for the last half century and done nothing to adapt to the situation or move.
For all of the city of Vancouvers push for affordable housing they seem to do a lot of adding more code requirements, red tape and permit cost. So not sure how well they'll fair in the long haul.
Overvalued houses and too much home construction mean Canada has a 30-per-cent chance of a housing bust within two years, New York-based investment bank Goldman Sachs says in a new research note.
The report defines a “bust” as a decline in inflation-adjusted prices of five per cent or more. It looked at the housing markets in the G10 economies — the countries that use the 10 most commonly traded currencies in the world.
Among those countries, it found “house prices are most overvalued in New Zealand, followed by Canada, Sweden, Australia, and Norway.”
Fine print of Goldman Sachs' analysis: Goldman Sachs' criteria for "bubble popping" is when a market's average real estate prices drop by 5% in any given year.
Given the fact that Toronto's prices surged by 26% in 2015 and 31% in 2016, I very much doubt a 5% drop would make much of a dent.
And before anyone accuses me of "defending the bubble", I like almost everyone else living in Toronto actually do want to see prices drop, or at least grow at a slower pace, so that we could all enjoy more affordable housing. Problem is - even if the bubble pops under Goldman Sachs' scenario, say 5%, 10%, 15%, or 20%+, prices will still be quite high.
(in other words, if one wants to live in Toronto, forget about trying to find a house or duplex for 500k or a condo for 200k - those days are long gone regardless of which "bubble popping" scenario we get).
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The archeologist forgot to mention the price was pretty steep too. 
