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real estate prices in Canada sustainable?

real estate prices in Canada sustainable?

Old May 20th 2022, 3:28 pm
  #976  
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Default Re: real estate prices in Canada sustainable?

Originally Posted by Moses2013 View Post
It's a bigger problem for the people who don't want to move away and have a strong connection to their birth place.
I didn't want to move away and have a strong connection to my birthplace. I work all the time with people who didn't want to move away and have a strong connection to their birthplaces. I certainly wouldn't have moved to Toronto if it hadn't had cheap houses. Nothing has changed in that regard. Today, you can't sell your house in Toronto or Vancouver and buy the same one in London or New York, there's still the small town pricing advantage in the Canadian locations.
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Old May 21st 2022, 3:03 pm
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Default Re: real estate prices in Canada sustainable?

Originally Posted by dbd33 View Post
I didn't want to move away and have a strong connection to my birthplace. I work all the time with people who didn't want to move away and have a strong connection to their birthplaces. I certainly wouldn't have moved to Toronto if it hadn't had cheap houses. Nothing has changed in that regard. Today, you can't sell your house in Toronto or Vancouver and buy the same one in London or New York, there's still the small town pricing advantage in the Canadian locations.
You think? It depends where you are in the market in my humble opinion.

If I had known about the pandemic boom of 40% and the complete FOMO I'd have bought a $430k 2 bedroom condo that was put in front of me I if memory serves around 2014. If I did sell it now (with the capital) I could quite comfortably buy a 2 bedroom place in my home town of Farnham, Surrey with no or a very small mortgage.

Granted it's a 50 minute train ride to London but I think real estate has some what levelled off between the two places.

I don't think you'll see much of a correction though in the UK like what we will see in Canada. Largely because some of the typical reasons people actually give for high prices some what hold up there.

You have quite a few acres though and I do appreciate to replicate that in the home counties would be quite the bill.

By the way I've moved to the Beaches! Been here 2 months! I'm above Home Hardware on Queen East, almost opposite the Glen Manor Ravine! It's amazing out here! I love it!

Last edited by JamesM; May 21st 2022 at 3:07 pm.
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Old May 21st 2022, 5:57 pm
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Default Re: real estate prices in Canada sustainable?

Originally Posted by JamesM View Post

By the way I've moved to the Beaches! Been here 2 months! I'm above Home Hardware on Queen East, almost opposite the Glen Manor Ravine! It's amazing out here! I love it!

Beach! You parvenu.

Yes, I was happy there even if it is a bit up itself. Being able to walk to the yacht club was fantastic. Congratulations.
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Old May 22nd 2022, 2:15 am
  #979  
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Default Re: real estate prices in Canada sustainable?

Originally Posted by JamesM View Post
You think? It depends where you are in the market in my humble opinion.

If I had known about the pandemic boom of 40% and the complete FOMO I'd have bought a $430k 2 bedroom condo that was put in front of me I if memory serves around 2014. If I did sell it now (with the capital) I could quite comfortably buy a 2 bedroom place in my home town of Farnham, Surrey with no or a very small mortgage.

Granted it's a 50 minute train ride to London but I think real estate has some what levelled off between the two places.

I don't think you'll see much of a correction though in the UK like what we will see in Canada. Largely because some of the typical reasons people actually give for high prices some what hold up there.

You have quite a few acres though and I do appreciate to replicate that in the home counties would be quite the bill.

By the way I've moved to the Beaches! Been here 2 months! I'm above Home Hardware on Queen East, almost opposite the Glen Manor Ravine! It's amazing out here! I love it!

And on comparative pricing: House for sale in Richmond Road, London, E8 (Ref 181772) | Dexters
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Old Yesterday, 12:52 am
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Default Re: real estate prices in Canada sustainable?

Originally Posted by dbd33 View Post
Ouch!
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Old Yesterday, 5:37 pm
  #981  
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Default Re: real estate prices in Canada sustainable?

Sounds like Vancouver BC - https://bc.ctvnews.ca/vancouver-tear...ours-1.5907919
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Old Yesterday, 8:58 pm
  #982  
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Default Re: real estate prices in Canada sustainable?

Originally Posted by btar View Post
Only slightly. Maybe eighteen months ago my daughter and her husband started looking in Vancouver with a budget of 1.5. That wasn't enough so they saved some more and eventually bought at 2.7. Less than 3 million Canadian can still buy a nice detached house in Kitsilano, run down admittedly, but all first houses should be a bit run down. That's not money that will buy a whelk stand in an equivalent part of London such as Hampstead or Highgate.
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