Don't want to be landlords? Then keep it as a personal use property. Flip when time is ripe.
Housing crisis in Canada
- Thread starter ZZDown
- Start date
Don't want to be landlords? Then keep it as a personal use property. Flip when time is ripe.
Doesn't mean empty. Can be use as a home for parents, adult children, relatives, etc.
There are a number of factors contributing to the housing crisis, including the supply chain snarls that are driving up material costs, and city councils that refuse to rapidly approve new housing projects.
But without the skilled workers who can take these construction materials and build these projects, Canada's hope of building 3.5 million homes by 2031 may never become a reality.
https://www.msn.com/en-ca/news/news...d-them/ar-AAW6Tsz?ocid=mailsignout&li=AAggNb9
But without the skilled workers who can take these construction materials and build these projects, Canada's hope of building 3.5 million homes by 2031 may never become a reality.
https://www.msn.com/en-ca/news/news...d-them/ar-AAW6Tsz?ocid=mailsignout&li=AAggNb9
The biggest reason for higher housing prices is low interest rates and lax lending rules that allow investors to take out significant equity from one home to purchase others.
Unless those family members are covering all the carrying costs most can not afford a second property.
Then how would the "Multigenerational home renovation tax credit" support families living with parents, grandparents and children under one roof?
The city councils have to be careful and listen to their constituents otherwise they may find themselves out of a job. They should keep their focus on developments around the transportation and shopping hubs and stop trying to increase their tax base in the residential areas.
If you live in a nice area, who wants to have a high rise or land assembly as your new neighbour?
canadian market is so different of the usa market,
I don't beleive a crush will happen
in canada real estate is following a pattern that started in Vancouver for many years now and it didn't stop at all
so the same investors who flew vancouver to toronto, went to ottawa and then montreal
i saw houses go double prices in one year... the inverstors are taking a lot of the market versus classical trading of families who want to buy a house...
so.. the solution is to build more and more so the market could coool off. maybe the exageration will slow but it will not stop and it will not crash... people hide their money in real estate
I don't beleive a crush will happen
in canada real estate is following a pattern that started in Vancouver for many years now and it didn't stop at all
so the same investors who flew vancouver to toronto, went to ottawa and then montreal
i saw houses go double prices in one year... the inverstors are taking a lot of the market versus classical trading of families who want to buy a house...
so.. the solution is to build more and more so the market could coool off. maybe the exageration will slow but it will not stop and it will not crash... people hide their money in real estate
they love saying (we are working on it)
building wood houses was a decision north america did for quick and cheap growth in housing... not the case today... the workers are paid slightly more and the materials aren't that expansive but the builders aren't building enough
I live in a new neighberhood, all houses are sold, only few are occupied buy owners, the majority rentred by investors, and still 1/3 is empty and owners are waiting to re sell it with inflation
Agents lie about bids. You might be the only buyer, but they will say that 2 others have bid 20k more than you, so you should up your offer by 30k. Then the imaginary bidders up their bid by another 15k.....and so on.
