Quote:
Originally Posted by NORTY FLATZ
What's a 100K in Canadian?
$73897.27?
You might rent a flat in the seedy part of Montreal for that, but that's about it.
Eh!
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What is the relevance of the USD when we are talking about Canadian incomes and Canadian home prices? There are macro economic influences of course, but day to day living and what matters for rent is what you make in CAD and what you pay in CAD when you live in Cad. eH?
Quote:
Originally Posted by WestieWhitie
They’re not hurting because they’re only building what’s profitable, in other words only “luxury” condos in the most expensive parts of the city where buyers are willing to pay the price that makes the project profitable. Cheaper, more basic units would have been profitable if the developers didn’t need to make up,for the losses they incur on the units they’re forced to give away but politburo wants nearly free units for the well-connected which in turn means you’re stuck paying much higher rent due to limited new construction and supply not keeping up with demand.
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Well profitable is relative though. What are acceptable profit margins can vary, but I don't really think developers in T.O and Canada are hurting more than other industries. As a matter of fact, last I saw profit margins are up for developers on our continent, so perhaps greedy developers are as much of a problem as problem tenants.
Let me be clear, i'm not pro for people not paying their rent - but just putting on them is one sided.
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