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Forum » Housing market in Ontario is fking tough
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Thread: Housing market in Ontario is fking tough

post 1465055811 10-04-2016, 01:49 PM
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#31
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Originally Posted By brownbrah113⏩
About 1100 sq. Ft. It was 3 bed two bath finished basement, garage, fully updated, marble and stone kitchen, big backyard. List price: 505k. My bid: 520k
LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OLL

Just bought a 2,400 sq foot with an acre, fully updated, 4 beds 2.5 bath for 312k and I thought that **** was ridiculous.
(っ◕‿◕)っ
post 1465055881 10-04-2016, 01:50 PM
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Originally Posted By GriecoR⏩
Reviving this thread.

So had an offer on a home yesterday and lost.

These were the numbers.
Listed price:319,900 (was worth more)
My offer:360,000
Winning offer:360,500
6 offers including mine.

I honestly think in this case, the realtor tipped a friend of hers off about the highest bid. The offer that beat me is way to suspicious

Anyways the market is crap. Town homes are are approaching 400k.

I'd suggest buying an older detached that doesn't show el well. Those Brampton people want a move in ready home so go for something that requires a little work.

Also PM me. Not an agent but I have access to MLS. Willing to do some searches for you.
realtor fuker happens a lot more often than you would think... But you can work that in your favour if you talk to the right realtors.


Also townhomes are approaching 400k anymore lol, they are past that. My townhouse in a ****ty part of etobicoke sold for 500 this August.
post 1465055981 10-04-2016, 01:51 PM
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Originally Posted By LikeAMachine⏩
LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OLL

Just bought a 2,400 sq foot with an acre, fully updated, 4 beds 2.5 bath for 312k and I thought that **** was ridiculous.
you live in bumfuk Ohio m8, we live in Toronto...
post 1465056011 10-04-2016, 01:51 PM
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Originally Posted By Ferocious12⏩
You sound like a good man.

What area in waterloo was it if you don't mind me asking? And what do you do that you're able to afford a house worth half a million at age 25?
You don't have to be able to afford 500k, just 100k down payment.

It's a rough ride for us millennials. Hard enough finding a job and now that you want to buy a house you're paying 800-1m if you want to live just north of the city.
post 1465056201 10-04-2016, 01:52 PM
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Damn Chinese investors are ruining this country. Never gonna be able to afford a house in the gta. Forever renting
Originally Posted By lnvictus⏩
LOL wtf why is house pricey in waterloo? There's nothing there tho
2 universities and plenty of tech jobs??? Seems like a legit location to invest in
post 1465056231 10-04-2016, 01:52 PM
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Originally Posted By AGstrong⏩
you live in bumfuk Ohio m8, we live in Toronto...
He's serious....

(っ◕‿◕)っ
post 1465056251 10-04-2016, 01:52 PM
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Originally Posted By LikeAMachine⏩
LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OLL

Just bought a 2,400 sq foot with an acre, fully updated, 4 beds 2.5 bath for 312k and I thought that **** was ridiculous.
Par for the course for a place no one actually wants to live in and everyone would like to move out of

Ayyylmao
post 1465056441 10-04-2016, 01:54 PM
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Originally Posted By NonSmoker⏩
Damn Chinese investors are ruining this country. Never gonna be able to afford a house in the gta. Forever renting
The fukked thing is I'm sure Chinese investors own a lot of the apartment complexes around there too. So not only can you afford to buy homes but you're fattening their wallets in the process
post 1465056771 10-04-2016, 01:56 PM
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Originally Posted By quadfecta⏩
Par for the course for a place no one actually wants to live in and everyone would like to move out of

Ayyylmao
Columbus area is exploding it has over 2 million residents and growing every year.

Just LOL @ Canacucks, cope harder
(っ◕‿◕)っ
post 1465057501 10-04-2016, 02:01 PM
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post 1465062821 10-04-2016, 02:40 PM
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Originally Posted By GriecoR⏩
Reviving this thread.

So had an offer on a home yesterday and lost.

These were the numbers.
Listed price:319,900 (was worth more)
My offer:360,000
Winning offer:360,500
6 offers including mine.

I honestly think in this case, the realtor tipped a friend of hers off about the highest bid. The offer that beat me is way to suspicious

Anyways the market is crap. Town homes are are approaching 400k.

I'd suggest buying an older detached that doesn't show el well. Those Brampton people want a move in ready home so go for something that requires a little work.

Also PM me. Not an agent but I have access to MLS. Willing to do some searches for you.
Outbid by 500? Thats scam af. I would fuk up the selling realtor if that happened to me.

Market is chit for sure and my mortgage guy is asking me to buy and finalize deal before oct 17 coz new mortgage laws are coming to fuk us. How sway?
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post 1465062941 10-04-2016, 02:41 PM
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Originally Posted By lnvictus⏩
LOL wtf why is house pricey in waterloo? There's nothing there tho
Lots of thots. I have a gf tho so nothing but sushi places and chinese restaurants.
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post 1465063091 10-04-2016, 02:42 PM
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Originally Posted By quadfecta⏩
The fukked thing is I'm sure Chinese investors own a lot of the apartment complexes around there too. So not only can you afford to buy homes but you're fattening their wallets in the process
This lol my landlords name is Ho lmao.
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post 1465065381 10-04-2016, 02:59 PM
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Ontario and Vancouver are fuked. How's Montreal though?
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post 1465069561 10-04-2016, 03:31 PM
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Originally Posted By brownbrah113⏩
North waterloo, lakeshore. I have a full time job in construction and i have my own business on the side and do some odd jobs / contracting.
Good for you dude, honestly.

Not a lot of people your age can say that have that much dough laying around to make that kind of downpayment.
post 1465070431 10-04-2016, 03:40 PM
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Originally Posted By 12345623⏩
You don't have to be able to afford 500k, just 100k down payment.

It's a rough ride for us millennials. Hard enough finding a job and now that you want to buy a house you're paying 800-1m if you want to live just north of the city.
Even 100k is a lot of money to have in cash at age 25.

If he had that with his gf together that would be one thing, but to have that by 1 person is impressive.
post 1465076611 10-04-2016, 04:35 PM
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Originally Posted By brownbrah113⏩
Outbid by 500? Thats scam af. I would fuk up the selling realtor if that happened to me.

Market is chit for sure and my mortgage guy is asking me to buy and finalize deal before oct 17 coz new mortgage laws are coming to fuk us. How sway?
Yeah, the deal was shady as fuk. I am actually considering making a big deal with her agency but I have no actual proof. Agents are one shady bunch.

Luckily for me I got into the market when I was 22 and have a property already that I rent out in KW. My plan was to buy two more but im getting raped every time I put an offer in. Real estate was good to get into a few years back, now it's almost not worth the headache and no one is going to pay enough rent to cover my mortgages.

I work for a city in the GTA and I rent a crappy bachelor pad myself because I don't want to fork out 600k on some crappy townhouse. I work in development dealing with new subdivisions and prices are certainly not going to flatline anytime soon. It really sucks for younger dudes just getting out of college hoping to buy a house on a normal salary.
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post 1465211081 10-05-2016, 02:06 PM
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Originally Posted By GriecoR⏩
Yeah, the deal was shady as fuk. I am actually considering making a big deal with her agency but I have no actual proof. Agents are one shady bunch.

Luckily for me I got into the market when I was 22 and have a property already that I rent out in KW. My plan was to buy two more but im getting raped every time I put an offer in. Real estate was good to get into a few years back, now it's almost not worth the headache and no one is going to pay enough rent to cover my mortgages.

I work for a city in the GTA and I rent a crappy bachelor pad myself because I don't want to fork out 600k on some crappy townhouse. I work in development dealing with new subdivisions and prices are certainly not going to flatline anytime soon. It really sucks for younger dudes just getting out of college hoping to buy a house on a normal salary.
Good for you brah. By the time im 30 i wish to have atleast 1-2 rental properties. Student tenants are a pain but they are willing to pay crazy amounts of rent
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post 1465212301 10-05-2016, 02:13 PM
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could be worse...you could be a homeowner...in Orlando
post 1465317531 10-06-2016, 09:21 AM
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Originally Posted By letitride0⏩
could be worse...you could be a homeowner...in Orlando
whats wrong with orlando? unaware
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post 1465318841 10-06-2016, 09:32 AM
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Originally Posted By brownbrah113⏩
My bid was the only one when i made it (sunday). Seller was going to review all offers on monday second offer came in at 5 pm on monday. I got outbid, they have to finalize the deal still as it is pending financing and home inspection. After final deal i will get to find out how much i got outbid by.
When I bought my house, my realtor put in my offer that it was only valid until midnight of the same day. Is your realtor not willing to do that?
post 1465321231 10-06-2016, 09:53 AM
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Originally Posted By GrammarNaziM8⏩
Ontario and Vancouver are fuked. How's Montreal though?
did not increase in value much. So I'm guessing after the Chinese ruin it for everyone in Toronto, Toronto will probably smarten up and impose a 15% tax for foreigners just like Vancouver, then the Chinese will continue their venture out east and bid up Montreal.
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post 1465327911 10-06-2016, 10:44 AM
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Originally Posted By 21stCenturyKid⏩
Go to Vancouver if you want to see a "rough" housing market.
Foreign buyer tax in Vancouver is driving the big Asian money into Toronto more than ever now.
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post 1465331321 10-06-2016, 11:10 AM
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Originally Posted By GriecoR⏩
Yeah, the deal was shady as fuk. I am actually considering making a big deal with her agency but I have no actual proof. Agents are one shady bunch.

Luckily for me I got into the market when I was 22 and have a property already that I rent out in KW. My plan was to buy two more but im getting raped every time I put an offer in. Real estate was good to get into a few years back, now it's almost not worth the headache and no one is going to pay enough rent to cover my mortgages.

I work for a city in the GTA and I rent a crappy bachelor pad myself because I don't want to fork out 600k on some crappy townhouse. I work in development dealing with new subdivisions and prices are certainly not going to flatline anytime soon. It really sucks for younger dudes just getting out of college hoping to buy a house on a normal salary.
Do you guys not realize you need to bribe the realtors? I swear people like to play clean when it's a dirty game from the start... You set up a meeting with the realtor ask her to show the place and promise her 5-10k cash if she tips you on the winning bid value.
post 1465331521 10-06-2016, 11:11 AM
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Originally Posted By Nocturnal310⏩
thats what happens when u got a cuck PM who letting china buy canada
he also partnered with the asian infrastructure bank, agreeing to let in millions of chinese in exchange for investments in canadian infrastructure.
By reading this post you acknowledge SikhAndDestroy is an online persona and all posts by SikhAndDestroy are satirical in nature. Comments by SikhAndDestroy shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.

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post 1465334591 10-06-2016, 11:30 AM
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Originally Posted By brownbrah113⏩
They smartened up and put a foreign homebuyer tax. Now watch these chinese rich people do the same to toronto and rest of ontario.
There is speculation this has already begun. The housing market has cooled down since the implementation of the foreign home buyer tax.





There is an argument out that states the prices began to flat line out before the tax was implemented but there does appear to be a correlation with the tax and the drop. Does the correlation explain the cause? Debatable but looks likely.


But in Ontario, housing prices are not only increasing but increasing at a increasing rate. Again, does this correlation between the tax implemented in Vancouver and the increasing housing pricing (implying increased demand - specifically from foreign buyers) in Ontario suggest the causal link is the tax levied in Vancouver? There are some that think so but the studies are yet to be done and show it but early indicators suggest it is indeed the case.
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post 1465335051 10-06-2016, 11:34 AM
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Originally Posted By Tapciv⏩
There is speculation this has already begun. The housing market has cooled down since the implementation of the foreign home buyer tax.





There is an argument out that states the prices began to flat line out before the tax was implemented but there does appear to be a correlation with the tax and the drop. Does the correlation explain the cause? Debatable but looks likely.


But in Ontario, housing prices are not only increasing but increasing at a increasing rate. Again, does this correlation between the tax implemented in Vancouver and the increasing housing pricing (implying increased demand - specifically from foreign buyers) in Ontario suggest the causal link is the tax levied in Vancouver? There are some that think so but the studies are yet to be done and show it but early indicators suggest it is indeed the case.
My advice to people with property in Ontario is to sell now. Hold for 2 yrs for when the prices go down and then buy something similar while netting 20-30% in profit.
post 1465336121 10-06-2016, 11:43 AM
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Originally Posted By Awarebrahhh⏩
My advise to people with property in Ontario is to sell now. Hold for 2 yrs for when the prices go down and then buy something similar while netting 20-30% in profit.
Why do you think prices will drop? I personally think the over bidding will end in a few months but I feel like the market will just flatline.

Also I'm not sure what to think about these new mortgage rules?? I feel like it won't affect the big spenders and hurt new home buyers even more. What your take on it?
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post 1465337781 10-06-2016, 11:54 AM
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This thread is delusional.

The housing market in Toronto city, perhaps, is "rough", as in too expensive for your average middle class human being. Cities such as Guelph, London, Peterborough, etc, etc, have modestly priced homes that are more realistic and affordable. Ontario as a whole is fine - It's when you start analyzing cities with a finely-tuned microscope where "tough housing markets" arises.

As I said again, go to Vancouver if you want an actual rough housing market. We wouldn't even be having a discussion of"I lost the bid to buy the house"because you would be too fucking poor in the first place to even put up a single bid.

Here would be your life: Forced to pack your bags, any chance of living your pathetic "American Dream" squandered, and start dishing out 1,700 monthly for your basement bachelor apartment.
post 1465338091 10-06-2016, 11:57 AM
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Originally Posted By Awarebrahhh⏩
My advise to people with property in Ontario is to sell now. Hold for 2 yrs for when the prices go down and then buy something similar while netting 20-30% in profit.
people have been saying this since 2010... Zzzzzzzzzzzzzzzz
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