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Forum » Average Canada home price rises to 716k. (Congrats Canadian misc)
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Thread: Average Canada home price rises to 716k. (Congrats Canadian misc)

post 1682793223 05-16-2023, 05:56 AM
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Average Canada home price rises to 716k. (Congrats Canadian misc)

https://www.cbc.ca/news/business/cre...data-1.6843592

Love this for you guys. Having a home is best way to build wealth and you boyos are all getting very wealthy!
the average price of a Canadian resale home has now increased for four months in a row, new numbers showed Monday.

The Canadian Real Estate Association said Monday that the average selling price of a home that sold on its MLS system in April went for $716,000. That's the fourth monthly increase in a row, and it marks a collective increase of more than $100,000 since the start of the year.
post 1682793463 05-16-2023, 06:04 AM
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I thought home prices were meant to crash

Lmao
post 1682793543 05-16-2023, 06:06 AM
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In America average house is about 470k CAD. And salaries are much higher in usa.

Canadians have higher priced homes and worse salaries.
post 1682793613 05-16-2023, 06:09 AM
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I can't believe how stupid many people are...I hear lots of people in my neighborhood saying "have you seen the prices? My house has gone up to $XXX...it's amazing!"

How can they be so stupid as to not realize - where the fukk you going if you sell your house? Into another house that has increased by the same percentage as yours...you are gaining nothing with this nonsense.
post 1682793683 05-16-2023, 06:11 AM
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Originally Posted By EdwardTheGreat⏩
I can't believe how stupid many people are...I hear lots of people in my neighborhood saying "have you seen the prices? My house has gone up to $XXX...it's amazing!"

How can they be so stupid as to not realize - where the fukk you going if you sell your house? Into another house that has increased by the same percentage as yours...you are gaining nothing with this nonsense.
Yeah but they can sell and move back to India with their equity.
post 1682793703 05-16-2023, 06:12 AM
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Originally Posted By EdwardTheGreat⏩
I can't believe how stupid many people are...I hear lots of people in my neighborhood saying "have you seen the prices? My house has gone up to $XXX...it's amazing!"

How can they be so stupid as to not realize - where the fukk you going if you sell your house? Into another house that has increased by the same percentage as yours...you are gaining nothing with this nonsense.
That type of thinking is only relevant if you are a pleb that only owns 1 house that you live in

If you own multiple investment properties it’s the opportunity of a lifetime to cash in
post 1682794003 05-16-2023, 06:20 AM
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Originally Posted By EdwardTheGreat⏩
I can't believe how stupid many people are...I hear lots of people in my neighborhood saying "have you seen the prices? My house has gone up to $XXX...it's amazing!"

How can they be so stupid as to not realize - where the fukk you going if you sell your house? Into another house that has increased by the same percentage as yours...you are gaining nothing with this nonsense.
My only issue with this is that the % increase varies from region to region.

Florida over the last 5 years: $245k -> $400k. 63% increase.

Texas over the last 5 years: $243.5k -> $340k. 39.5% increase.

California over the last 5 years: $573k -> $742k. 29.5% increase.

Sauce: This calculator, last 5 years setting, "all home types."https://www.redfin.com/state/Texas/housing-market
post 1682794063 05-16-2023, 06:23 AM
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Brooooltal. I know I’llprobablynever be able to afford a home. If I were Canadian I’ddefinitelynever be able to afford a home.

Does Trudeau give Indian immigrants free luxury housing in Toronto like we do for Central American migrants in New York? That type of chit hurts hard working citizen taxpayers who are trying to establish themselves.
post 1682794093 05-16-2023, 06:24 AM
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Originally Posted By r32gojirra⏩
That type of thinking is only relevant if you are a pleb that only owns 1 house that you live in
So it is only relevant to 99.9% of the population. Thanks for your input.
post 1682794253 05-16-2023, 06:29 AM
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Originally Posted By GuineaDago585⏩
Brooooltal. I know I’llprobablynever be able to afford a home. If I were Canadian I’ddefinitelynever be able to afford a home.

Does Trudeau give Indian immigrants free luxury housing in Toronto like we do for Central American migrants in New York? That type of chit hurts hard working citizen taxpayers who are trying to establish themselves.
I mean if 8 Indian males are in a 3 bedroom condo in Toronto that 12k mortgage payment isn't so bad (brothers, Dad, uncle, cousins)

****** discovered a housing life hack
post 1682794343 05-16-2023, 06:31 AM
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Originally Posted By kengriffeyjr24⏩
I mean if 8 Indian males are in a 3 bedroom condo in Toronto that 12k mortgage payment isn't so bad (brothers, Dad, uncle, cousins)

****** discovered a housing life hack
In the suburbs too. Three generations living in a 3 bedroom townhouse with five cars. They think it's ample space because they come from Mumbai.
post 1682794353 05-16-2023, 06:32 AM
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Originally Posted By WoofieNugget⏩
In the suburbs too. Three generations living in a 3 bedroom townhouse with five cars. They think it's ample space because they come from Mumbai.
Yes exactly. I love this for them.
post 1682794363 05-16-2023, 06:32 AM
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Originally Posted By EdwardTheGreat⏩
So it is only relevant to 99.9% of the population. Thanks for your input.
Lmao

So the one third or so of households that rent at any given time

Those houses all those rentcucks are living in, are owned by 0.1% of the population?

The pleb mindset is really a thing to behold

But thank you for your service, your landlord is grateful
post 1682794423 05-16-2023, 06:36 AM
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Originally Posted By r32gojirra⏩
Lmao

So the one third or so of households that rent at any given time

Those houses all those rentcucks are living in, are owned by 0.1% of the population?

The pleb mindset is really a thing to behold

But thank you for your service, your landlord is grateful
Imaging shilling for the landlord class of grifters, mega corporations(Blackrock )
post 1682794593 05-16-2023, 06:43 AM
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It’s basically all Toronto and Vancouver areas, only 6 out of 26 cities in the list from the article are actually at or above that number

Real estate is quite affordable in the prairies
post 1682794663 05-16-2023, 06:45 AM
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Originally Posted By Destor⏩
It’s basically all Toronto and Vancouver areas, only 6 out of 26 cities in the list from the article are actually at or above that number

Real estate is quite affordable in the prairies
And the east coast as well. You can get 1/2 an acre and a big house for 300k, but you have to live in New Brunswick.

Toronto and Vancouver are among the most unaffordable cities in the world at this point.
post 1682794693 05-16-2023, 06:45 AM
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Originally Posted By kengriffeyjr24⏩
Imaging shilling for the landlord class of grifters, mega corporations(Blackrock )
Imagine not taking millions in free money when it’s offered to you on a plate

If you can’t beat ‘’em join ‘em

I’m looking to post a 7-figure after-tax profit distribution for the third year in a row from property development
post 1682794893 05-16-2023, 06:49 AM
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Originally Posted By QuickShotSteve⏩
Mine has come down $200K in last 6 months according to zillow (FL brah)
Did it burn to the ground
post 1682795953 05-16-2023, 07:19 AM
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it's over for the middle class
post 1682795983 05-16-2023, 07:19 AM
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Originally Posted By GuineaDago585⏩
Brooooltal. I know I’llprobablynever be able to afford a home. If I were Canadian I’ddefinitelynever be able to afford a home.

Does Trudeau give Indian immigrants free luxury housing in Toronto like we do for Central American migrants in New York? That type of chit hurts hard working citizen taxpayers who are trying to establish themselves.
There's plenty of homes in America in the $150-225k range. My parents bought their first home for $130k and the neighborhood isn't bad at all nice, quiet, and upkept.

You're just gonna have to move.
post 1682796033 05-16-2023, 07:21 AM
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Originally Posted By MikeLowrrrey⏩
There's plenty of homes in America in the $150-225k range. My parents bought their first home for $130k and the neighborhood isn't bad at all nice, quiet, and upkept.

You're just gonna have to move.
What jobs are in an area with 130k homes.
post 1682796073 05-16-2023, 07:23 AM
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Imagine buying a million dollar crib in Canindia only to go out on your porch and witness immigrants taking fat poops on the ground
𝗣𝗨𝗥𝗘𝗕𝗟𝗢𝗢𝗗
ωσяℓ∂ тяανєℓєя ȼяєω ₅₀/₁₉₅
𝕬𝖊𝖘𝖙𝖍𝖊𝖙𝖎𝖈𝖆𝖑𝖑𝖞 𝕮𝖚𝖙 𝕸𝖆𝖘𝖙𝖊𝖗 𝕽𝖆𝖈𝖊 ®
ᗪIᔕᑕᖇIᗰIᑎᗩTIOᑎ E᙭ᑕᒪᑌᔕIOᑎ IᑎᗪOᑕTᖇIᑎᗩTIOᑎ
post 1682796203 05-16-2023, 07:25 AM
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Originally Posted By GuineaDago585⏩
Brooooltal. I know I’llprobablynever be able to afford a home. If I were Canadian I’ddefinitelynever be able to afford a home.

Does Trudeau give Indian immigrants free luxury housing in Toronto like we do for Central American migrants in New York? That type of chit hurts hard working citizen taxpayers who are trying to establish themselves.
Indians' advantage in the modern inflated housing market is they are willing to live together with like 4+ working adults contributing towards the mortgage. White people are not going to live with like 6 working adults under the same roof.

Which is pretty much what you need to do to afford those 2-3 million dollar basic 2k square foot homes in Toronto, where even most 'high earning dual 6 figure' couples can't afford those homes.
post 1682796253 05-16-2023, 07:26 AM
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Originally Posted By DesiredUser****⏩
Imagine buying a million dollar crib in Canindia only to go out on your porch and witness immigrants taking fat poops on the ground
I wonder what the average toronto apartment building smells like. Hundreds of people cooking curry wafting up the stairwells and seeping into hallways.

Can anyone confirm how it smells? Brad?
post 1682796343 05-16-2023, 07:28 AM
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Originally Posted By kengriffeyjr24⏩
https://www.cbc.ca/news/business/cre...data-1.6843592

Love this for you guys. Having a home is best way to build wealth and you boyos are all getting very wealthy!
Lol, having a primary residence is absolutely not the best way to build wealth. Figures a Wall Street guy would be confused about that, because they're all just grifters anyways.
post 1682796413 05-16-2023, 07:31 AM
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https://www.crea.ca/housing-market-s...nal-price-map/

this is where I think they get the numbers. median salary is around 50-55K. Let's assume household income is 90K. That's around 8x household salary for the cost of a house. Brutal.

Bigger cities like Toronto and Vancouver where all the jobs are it's 11x-12x. Quebec and Alberta are where it is alot more affordable and livable with opportunities. The rest of Canada opportunities are sparse. No one wants to live in Winnipeg, Regina, St. Johns or Moncton lol.

Obviously you can find cheaper housing like condos but even those are expensive. Still around 7-8x salary for big cities. Plus you gotta factor in condo fees which are crazy.

Almost no millennial or gen-z is able to afford a house. even pooling income with their spouse. but people aren't getting married so most people are rent-cels for life.

I don't blame indian people for living in multi-generational households. It's literally the only way to build wealth post-covid.
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post 1682796553 05-16-2023, 07:34 AM
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Imagine living in an ice box for 700k when you could be living on the Mediterranean for $3.

A California-based woman bought 3 abandoned houses in a Sicilian village for $3.30, cashing in on Italy's desperation to repopulate its fast-emptying ghost towns.

https://www.businessinsider.com/ital...cks-2023-5?amp
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post 1682801213 05-16-2023, 08:58 AM
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Went to Zillow and my banking app. Bank offers a 6.75% rate for a 30 year fixed. Assuming 20% ($80k) down on a modern nearby home priced at $400k, if I had 0% interest it would've been $1380/mo for everything (HOA, property taxes, etc.), but due to the 6.75% interest it would be $2,565. The actual "principal" paid would be $890/mo either way. So basically it would be $1,185/mo lost due to current interest rates for this particular scenario. This $1,185/mo loss is still cheaper than rent, and at least $890/mo is going towards equity on the home I guess. But phark.
post 1682804493 05-16-2023, 09:43 AM
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Originally Posted By kengriffeyjr24⏩
What jobs are in an area with 130k homes.
Chicago, Naperville, Bolingbrook, Plainfield, Frankfort, etc.
post 1682804623 05-16-2023, 09:45 AM
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Originally Posted By Visel⏩
Went to Zillow and my banking app. Bank offers a 6.75% rate for a 30 year fixed. Assuming 20% ($80k) down on a modern nearby home priced at $400k, if I had 0% interest it would've been $1380/mo for everything (HOA, property taxes, etc.), but due to the 6.75% interest it would be $2,565. The actual "principal" paid would be $890/mo either way. So basically it would be $1,185/mo lost due to current interest rates for this particular scenario. This $1,185/mo loss is still cheaper than rent, and at least $890/mo is going towards equity on the home I guess. But phark.
Average rent is like $1500, so you'd be saving about $1000/month on top of your already $80k down payment. Sounds like you're better off renting and waiting for interest rates to go back down.
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