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Old 01-17-2024, 01:58 PM
pdw
 
Location: Ontario, Canada
2,674 posts, read 3,090,748 times
Reputation: 1820

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Quote:
Originally Posted by Financial Man View Post
It’s been a rough few years since Covid happened (besides the crazy market rally in 2021). I think things will turn around soon. Inflation has turned around quickly, we just need to tackle the cost of housing better and we’ll be in much better shape as a country. 2 bedroom houses shouldn’t be worth $1 million. Maybe in Manhattan, not in Canada. Once that’s fixed, our middle class will bounce back
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Old 01-17-2024, 04:58 PM
 
3,950 posts, read 3,296,851 times
Reputation: 1692
Quote:
Originally Posted by pdw View Post
It’s been a rough few years since Covid happened (besides the crazy market rally in 2021). I think things will turn around soon. Inflation has turned around quickly, we just need to tackle the cost of housing better and we’ll be in much better shape as a country. 2 bedroom houses shouldn’t be worth $1 million. Maybe in Manhattan, not in Canada. Once that’s fixed, our middle class will bounce back

Couple of recent entries in the "Great Canadian RE Comedy Show" (or horror show if you are stuck up there and in the market)

I find these ads quite funny, high amusement content....

https://www.zillow.com/homedetails/1...54254055_zpid/

696 sq/ft, no water view (despite the deceiving ad), bottom floor, fairly cheap materials....only 1.2 mil.....hurry up, priced to sell!!

This one takes the cake....

House built in 1953, it is literally a tear down (I know the house personally) with a leaky roof, quite depressing corner in Burnaby priced at....drumroll......1.8 mil

https://www.zillow.com/homes/1004-Sp...14487436_zpid/

I would love to go to a open house events for these and actually seeing people thinking to drop that kind of money at this garbage....

Even knocked down 50% these crappy properties would still be quite overpriced.

Rick Mercer at his best....

https://www.youtube.com/watch?v=2g6qioPIV8k

Last edited by saturno_v; 01-17-2024 at 05:10 PM..
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Old 01-17-2024, 11:01 PM
 
577 posts, read 1,474,534 times
Reputation: 532
The Canadian "dollar" will achieve pesos status very soon...
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Old 01-17-2024, 11:44 PM
 
Location: Sydney Australia
2,290 posts, read 1,511,895 times
Reputation: 4792
Those property prices are no different to here. While I do not know much about the value of the Canadian dollar, ours is currently also low against the US, which is good for the country overall.

If people think Canada is not an advanced, developed economy they may not have spent much time in the developing countries.
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Old 01-18-2024, 12:14 AM
 
577 posts, read 1,474,534 times
Reputation: 532
Quote:
Originally Posted by MarisaAnna View Post
If people think Canada is not an advanced, developed economy they may not have spent much time in the developing countries.
You gotta be kidding. I've spent an equal amount of time in both Canada, and in another (truly) first-world country, namely 10 years. I can make a informative comparison, and conclude that Canada has gone down the drain...
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Old 01-18-2024, 05:14 AM
 
62 posts, read 37,344 times
Reputation: 94
Quote:
Originally Posted by smihaila View Post
You gotta be kidding. I've spent an equal amount of time in both Canada, and in another (truly) first-world country, namely 10 years. I can make a informative comparison, and conclude that Canada has gone down the drain...
Quote:
Originally Posted by pdw View Post
It’s been a rough few years since Covid happened (besides the crazy market rally in 2021). I think things will turn around soon. Inflation has turned around quickly, we just need to tackle the cost of housing better and we’ll be in much better shape as a country. 2 bedroom houses shouldn’t be worth $1 million. Maybe in Manhattan, not in Canada. Once that’s fixed, our middle class will bounce back
Sadly it’s not that simple dude for many reasons. Canada has many fundamental issues to deal with like the low productivity per worker, lower wages than the US, higher cost of living than the US, the low quality mass migration from Asia and now they face massive addiction and crime issues. All of these throwbacks has turned Canada into hell.

It’s really really sad because Canada used to be a prosperous state to make a living but now is entirely unliveable for the majority of the mid class citizens. Trudeau has devastated this country in just 8 years.
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Old 01-18-2024, 07:34 AM
 
1,216 posts, read 488,905 times
Reputation: 760
Quote:
Originally Posted by Financial Man View Post

It’s really really sad because Canada used to be a prosperous state to make a living but now is entirely unliveable for the majority of the mid class citizens. Trudeau has devastated this country in just 8 years.
I have said that before, the middle and lower class are under attack in this country. Add to all this the elitist arrogant woke madness and the attack on people to speek freely on certain issues. (Example of this the reporting and shutting down of a certain thread on here yesterday). It's getting out of control. Quebec is the only sane place in this country. Housing, university education, excellent public transportation, child care etc etc are still affordable for the middle and lower classed in Qc, not to mention they still value their own culture and way of life.
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Old 01-18-2024, 07:51 AM
 
Location: In a perfect world winter does not exist
3,657 posts, read 2,937,139 times
Reputation: 6739
Quote:
Originally Posted by saturno_v View Post
Couple of recent entries in the "Great Canadian RE Comedy Show" (or horror show if you are stuck up there and in the market)

I find these ads quite funny, high amusement content....

https://www.zillow.com/homedetails/1...54254055_zpid/

696 sq/ft, no water view (despite the deceiving ad), bottom floor, fairly cheap materials....only 1.2 mil.....hurry up, priced to sell!!

This one takes the cake....

House built in 1953, it is literally a tear down (I know the house personally) with a leaky roof, quite depressing corner in Burnaby priced at....drumroll......1.8 mil

https://www.zillow.com/homes/1004-Sp...14487436_zpid/

I would love to go to a open house events for these and actually seeing people thinking to drop that kind of money at this garbage....

Even knocked down 50% these crappy properties would still be quite overpriced.

Rick Mercer at his best....


https://www.youtube.com/watch?v=2g6qioPIV8k


Vancouver and Burnaby and Richmond are booming. I have no idea how people are making it there but there are and the growth is endless.
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Old 01-18-2024, 08:24 AM
 
3,950 posts, read 3,296,851 times
Reputation: 1692
Quote:
Originally Posted by 87112 View Post
Vancouver and Burnaby and Richmond are booming. I have no idea how people are making it there but there are and the growth is endless.
Growth is one thing, prices in La-La land is another.
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Old 01-18-2024, 08:33 AM
 
3,950 posts, read 3,296,851 times
Reputation: 1692
Quote:
Originally Posted by MarisaAnna View Post
Those property prices are no different to here. While I do not know much about the value of the Canadian dollar, ours is currently also low against the US, which is good for the country overall.

Australia is definitely in the Loony Bin when it comes to RE prices but probably not to the extent of Canada or, at least, some cities in Canada..

A friend of mine last year bought a house in the outskirt of Sydney (I do not remember exactly where, I'll ask him, I think is south of Bankstown), beautiful community, water view on a river park, he can cross the street and kayak away. bike trails everywhere, shops at walking distance and a train station close by. Size is in the mid 2000 sq/ft, one level, he has swimming pool, a lovely front patio, 2 car garage, etc...he paid a bit over 1 mil (I believe 1.1) and we are talking about Sydney, the economic engine of Australia. Forget these prices for a similar home in a comparable location in Vancouver.

Last edited by saturno_v; 01-18-2024 at 08:57 AM..
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