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real estate prices in Canada sustainable?

real estate prices in Canada sustainable?

Old Jun 19th 2021, 1:29 am
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Siouxie View Post
Try putting the 'key' part of their byline /headline into a google search, then use the dropdown arrow to select "cache"
https://webcache.googleusercontent.c...nt=firefox-b-d

Shows how not tech savvy I am. Good trick.
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Old Jun 19th 2021, 1:19 pm
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Siouxie View Post
Try putting the 'key' part of their byline /headline into a google search, then use the dropdown arrow to select "cache"
https://webcache.googleusercontent.c...nt=firefox-b-d
Yes!
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Old Jun 19th 2021, 1:38 pm
  #573  
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Jsmth321 View Post
What is wrong with New Zealand? Looks like a nice country to me, I think I'd live there if I could to give it a try, Australia too, maybe in another life.
Yup and yup. In my 20s I went to Sydney and found it a bit too remote (from the rest of the world) but these days, internet, cheap flights, I think I could handle it.

Speaking of Oz, and unsustainable property prices, saw this yesterday. Australia seems to have a fairly unconstrained banking system, so perhaps not quite the same situation in Canada, but the tales of unfaffordable pricing resonate.

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Old Jun 19th 2021, 7:17 pm
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Shard View Post
Yup and yup. In my 20s I went to Sydney and found it a bit too remote (from the rest of the world) but these days, internet, cheap flights, I think I could handle it.

Speaking of Oz, and unsustainable property prices, saw this yesterday. Australia seems to have a fairly unconstrained banking system, so perhaps not quite the same situation in Canada, but the tales of unfaffordable pricing resonate.

I went to Sydney and Alice Springs in my 20's, Sydney seems to have a similiar climate to San Diego which probably played a role in why I liked it so much....I really enjoyed my time in Sydney.

Never made it to New Zealand though, and likely will never leave North America again at this point in my life.



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Old Jun 20th 2021, 10:31 am
  #575  
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Jsmth321 View Post
I went to Sydney and Alice Springs in my 20's, Sydney seems to have a similiar climate to San Diego which probably played a role in why I liked it so much....I really enjoyed my time in Sydney.

Never made it to New Zealand though, and likely will never leave North America again at this point in my life.
Sydney would be very similar when it comes to temps but overall very different climates and Sydney would be more subtropical and moist compared to San Diego. You see it with the plant life but if you like San Diego you would probably love some parts of Spain when it comes to climate.
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Old Jun 21st 2021, 10:34 am
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Shard View Post
Yup and yup. In my 20s I went to Sydney and found it a bit too remote (from the rest of the world) but these days, internet, cheap flights, I think I could handle it.

Speaking of Oz, and unsustainable property prices, saw this yesterday. Australia seems to have a fairly unconstrained banking system, so perhaps not quite the same situation in Canada, but the tales of unfaffordable pricing resonate.

https://www.youtube.com/watch?v=BNAqA7R95Wo
Yeah, pretty old news. The collapse of Moranbah and similar QLD coal-boom towns was a 2015 story, and the RBA tightened up on interest-only mortgages (and even more on investor vs owner-occupied mortgage assessment criteria at the major lenders) shortly after that.

Not sayin' that some future major RE market reversal is impossible in OZ, but it survived that 2015 story without a hitch, then survived the more serious CoVID-19 economic shutdowns with just minor reversals, and is booming again more recently. And its still well behind the most recent Canadian runup, from what my family there tells me.
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Old Jun 26th 2021, 7:12 pm
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Default Re: real estate prices in Canada sustainable?




https://globalnews.ca/news/7941437/m...-baby-boomers/​​​​


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Old Jun 28th 2021, 5:46 pm
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Default Re: real estate prices in Canada sustainable?

In Metro Vancouver housing construction has remained between 10,000 to 25,000 units per year over the past three decades.

BC simply isn't building sufficient housing to meet population growth.

Canada has the fewest dwellings per 1,000 population of G7 countries.

To reach G7 average of 471 dwellings per 1,000 residents, Canada needs to build almost 2 million housing units.

https://financialpost.com/personal-f...housing-prices
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Old Jun 30th 2021, 8:47 pm
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Default Re: real estate prices in Canada sustainable?

No surprise BC and ON had the highest average down payment 1st quarter this year.

BC average down payment was $159,762 which is apparently an average of 22.45 per cent of the purchase price, BC average down payment was 101,191 more than Quebec.

https://www.westerninvestor.com/brit...159762-3916252


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Old Jul 1st 2021, 12:42 am
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Jsmth321 View Post

BC average down payment was $159,762 which is apparently an average of 22.45 per cent of the purchase price,
So there are cheap houses in BC!
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Old Jul 1st 2021, 12:56 am
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Default Re: real estate prices in Canada sustainable?

Originally Posted by dbd33 View Post
So there are cheap houses in BC!
Suppose it depends on your definition of cheap.


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Old Jul 4th 2021, 1:03 am
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Default Re: real estate prices in Canada sustainable?

Originally Posted by dbd33 View Post
So there are cheap houses in BC!

Nobody has ever said the entire province is expensive, the issue is where houses are cheap, tend to be fairly isolated smaller communities lacking employment, so for someone working in the Lower Mainland, who can't work from home, these places wont be an option for them.

If I had 200,000 cash to buy, I'd certainly consider some of these places though, some might be dying towns, unsure of the economic health of them all.

https://www.realtor.ca/real-estate/2...e-road-terrace ($169,000)

https://www.realtor.ca/real-estate/2...venue-hazelton ($120,000)

https://www.realtor.ca/real-estate/2...avenue-quesnel (169,000)

https://www.realtor.ca/real-estate/2...ay-bella-coola ($199K)

https://www.realtor.ca/real-estate/2...-prince-rupert (165k)

https://www.realtor.ca/real-estate/2...-prince-rupert ($150k)





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Old Jul 5th 2021, 12:20 am
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Default Re: real estate prices in Canada sustainable?

To think Abbotsford used to be the place people went for cheap rent, those days seem gone.

Downside to tearing down the old cheap and affordable walk up's, the replacement are considerably more expensive.

https://abbotsford.craigslist.org/se...date=all+dates
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Old Jul 6th 2021, 5:22 pm
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Jsmth321 View Post
To think Abbotsford used to be the place people went for cheap rent, those days seem gone.

Downside to tearing down the old cheap and affordable walk up's, the replacement are considerably more expensive.

https://abbotsford.craigslist.org/se...date=all+dates
The saddest part is several years ago they hired a fantastic urban planner, Brent Toderian, to rework the Abbotsford city plan called "Abbotsfwd". It was to allow for infill in suburban areas which would have produced coach houses, laneway homes, and duplexes. Instead they are now just following the failed model used elsewhere of protecting every blade of grass in a Single Family Zoned neighbourhood but happy to demolish affordable rental buildings to redevelop them as they are already zoned for density.
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Old Jul 6th 2021, 5:45 pm
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Default Re: real estate prices in Canada sustainable?

Originally Posted by CanadaJimmy View Post
The saddest part is several years ago they hired a fantastic urban planner, Brent Toderian, to rework the Abbotsford city plan called "Abbotsfwd". It was to allow for infill in suburban areas which would have produced coach houses, laneway homes, and duplexes. Instead they are now just following the failed model used elsewhere of protecting every blade of grass in a Single Family Zoned neighbourhood but happy to demolish affordable rental buildings to redevelop them as they are already zoned for density.
Seems anytime a city has a planner who actually wants to improve the city, they don't last.

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