Real-estate market 'almost at a crisis situation'

[Hawkman]

JBen, it's been more than three years now and we still haven't managed to meet for that "pop". LOL.
One day soon I hope!!!

Anyway, we can discuss the matter forever and still not find the answers we seek.
There are numerous - endless really - angles to look at the issue(s).
Rules and "cycles" are made to be broken, altered, thrown away. I am frustrated and dismayed at the way things are these days but who am I to even try and change the BIG PICTURE?

Money equals power, and those who have money are welcomed into Canada. The governments at every level want that foreign money and don't care about you, me, or our families. That's SAD beyond what words can describe.

The Town of East Gwillimbury just to the north of Newmarket was against development for many many years. All of a sudden however, the floodgates opened and thousands of homes are being built right now. It pains me to see all the wildlife displaced and pushed out of their habitat because the almighty humans are moving in with their machinery, sewage pipes and various cables and paving devices.

Who decided that it was okay to attack the land and build all these houses at once?!
Did someone somewhere get paid some big bucks to change the light to green? Maybe I am being too dark and too cynical...

Homes are being built all over the place, and formerly sleepy towns like Brooklin, Shelburne, Hastings, etc. are growing at a rapid pace. I don't mind the growth IF jobs also spread accordingly, and IF this growth is kept close to the existing highways. Then again who am I to try and talk sense into anyone? Especially if MONEY ultimately decides the outcome every single time...

[poltrojan]

The Town of East Gwillimbury just to the north of Newmarket was against development for many many years. All of a sudden however, the floodgates opened and thousands of homes are being built right now. It pains me to see all the wildlife displaced and pushed out of their habitat because the almighty humans are moving in with their machinery, sewage pipes and various cables and paving devices.

Who decided that it was okay to attack the land and build all these houses at once?!
Did someone somewhere get paid some big bucks to change the light to green? Maybe I am being too dark and too cynical...

I am just shy 5 minutes from the area with the car. We saw the wildlife shift all over the area, the coyotes that we hadn't ever heard or seen in our park for the past 7 years, suddenly we are seeing them now, next to kindergartner and school. My dad spotted a few of them from time to time. Sometimes in pairs or solo.

I remember that area so well as clearly as woodlots and farms, with hamlet or village sizing. now? ridiculous!! My first question was, do we even have proper utilities in short notice to such a large demand? Most of people are concerned where there was peaceful living now become more of sub urbanized.

I'm moving to Oshawa, and I had spoken with my fiance, because of my financial and job instability there is no way we can afford even past 400k mortgage. The worst part, were both in 35-40 range with a dream to own a house....... *sigh*

[Hawkman]

poltrojan, I feel your pain and I agree with everything that you have stated.

Quite sad for the displaced wildlife and everyone in the area agrees on that too.
In terms of being ready for the sudden stretch, well... they must have thought of things I am guessing! We humans are the greatest users of all resources and for all that we take, we give back a lot of pollution back to the environment. Any increase in population will mean
The urban developers and civil engineers have been at it for a long time, planning and preparing, etc., so the expansion is not entirely thoughtless. That being said if there are any glitches in the future we will sure find out about them later on!

If you wish to own real estate, there will be possibilities for you, so don't give up too easily!
Not too long ago, I remember Oshawa was very cheap and JBen mentioned this before as well. The current craziness has had an impact on Oshawa's market also, but you still have options if you think a bit outside of the box. I wish you all the best.

[JBen]

One agent I know suspects south Oshawa is a sleeper zone. Its old and run down hence it doesn't get the same beat down other areas do. But 10-15 years from now?

Despite my rants towards Queens Park (and some others), and that includes residents of the GTA for bringing this on themselves and everyone else. Whether thats not seeing how/why the black hole that sucks everything into it but not much comes out, or Queens park and vote buying and more...Bait and Switches and more......
Occasionally they still do the right thing. Couple years ago they brought in legislation to force municipalities to start revitalizing run down areas and/or building up, before building out.

Hell Ms Wynne is finally starting to "see the light"...Of coarse we all know why she is finally....and even outright admitted it for that matter. Do we all remember "ORPP" have we all we all forgotten so fast? Well I guess when your seeing your retirement golden nest egg go up 30% a year.........

~25% off Hydro because gosh gee it's not fair. And it's not fair that small town Ontario pay absolutely stupid delivery charges/higher rates feeding the beast.

~A hundred million, wow so nice of you Ms Wynne (the same amount wine sippers in NoTL got) to start, finally start laying some pipe and trying to get Nat gas to more people...Only 20 years too late but hey, "thanks for nothing"

But jobs?
Economic activity?
/crickets

The amount of new housing going on, it just plain nuts. I drive into Whitby/Oshawa about once a week, its a war zone. How many years will it take before supply begins to meet demand. No idea

Frankly we have sooooo many problems, who the help knows, when or how...One thing I am fairly certain about, if the province doesn't start "spreading it around", it's inevitable. Its exactly what caused the fall of Rome, its exactly why Marie Antoinette lost her head, and as with most things we are about 15 years behind the US.

/points at the powder keg on a slow burn for the past 20 years...The US
/points at the Mid West and Rust Belt
/Points at the US electoral Map and the big cities and wealth, which looks exactly like Ontario.
/points at soooooooooooooooooooooooo much anger and unrest
/points at the Donald

[JBen]

Hawkman, found the article I referred to about the problems seniors are having, as if they to, don't already have enough on their plates.
Soaring Hydro
Soaring taxation
Soaring grocery bills
Soaring fuel bills ( Carbon Taxes)
Soaring land taxes thanks to this insanity and MPAC
and more

Bloody greedy, short sighted politicians and more....

Not sure if this might help you as an agent but Im thinking it can.
http://www.theglobeandmail.com/life/...ticle20399431/

[Hawkman]

Interesting read JBen.
I don't want to live that long myself. Sometimes I wonder if all the stress has been worth it to make it THIS far - LOL.

Anyway, You and I sound alike sometimes. Too many problems you say and I agree. Some are beginning to see the "light" and it's just blinding. Always better to look away, and worry about the hockey scores instead, or which beer is on sale this week...

[skypilot]

Makes you shake your head in just pure WTF how insane crazy greedy and more ( aka political masters, glass towers, ivory towers and a couple more) are people and the GTA is and in almost utter dismay and sadness.

We can point fingers at this and that. A lot of it for things over the past 10 years say, but in truth a lot of it probably goes back 20-30.

There are reasons why when my world blew up last spring I said "screw it, Im out of the insanity, short sightedness and more". Have spoken with many good friends that are still in Durham region ( about 6-8 like us have said this is Fn nuts, Im outta here) because as Hawkman rightfully said/pointed out and its not just housing prices...........

I know 2 very good people, both want badly likewise to leave the insanity. They feel trapped, tied to the GTA where the work and $ is, but more importantly they have kids, kids that if they aren't getting started now, will be in a couple years. One guy has been pricing places north of Lindsay, up around Balsam. But every time he finds a place he thinks he can call home, the chains hold him back.And he is beyond "worried" about his kids.
His wish and hope is that his kids can find work somewhere very far away, and then he will follow them.....
But he knows........the odds of that.slim.....Many of my former colleagues jumped right back into it. Some found work during the summer, late fall. Some have already been laid off again.

Werner if my girls weren't in Durham, if they still didn't need their dad somewhat close by Id be up around there somewhere. Its one of our target areas for maybe 5 years down the road. Nuts eh???
125,000 vs $500,000
just freeking nuts.
*****

Not sure what I did right in life to first
meet an incredibly smart woman with more degrees (pedigrees) than I can shake a stick at, but who long before me saw the trappings, the bs, the power struggles....And said "F it, Im outta here". If it were up to her, we would be in some 2nd world country where the ocean breeze blows through some small hovel with year round open windows already. So she was more than onside when I said F it, Im out of the insanity myself......

Then to find and get this place the way we did.
The last month or so Ive been trying to keep my pulse on my new hood. On one hand it would seem prices are going nuts and I've been thinking about hitting a nearby open house soon. Just to gauge the "demand". See how many lemmings in the rat race are pounding the door.

There hasn't been anything listed "in my hood" since last summer.
Im thinking thats a good thing, for the most part we are in a tiny little pocket thats off the radar.
for now.

But when I look on mls just outside this tiny wee pocket no-one has heard of before.....

We are just outside a tiny little hamlet called Valentia, a little South and West of Lindsay. So a good 90 minutes to Markham or Scarborough. 2 hours or more into the city. There are some here that do that commute.....
now

This is basically right across the water from me.
$700,000
https://www.realtor.ca/Residential/S...1K0-Janetville

Closer to Port Perry all kinds hitting the million dollar mark. And thats Port Perry!

Next door was listed at 775k and went almost on the first to the open house. I thought it was way over priced but....

JB, the loonie short deal went well. Had a meeting yesterday with some folks about a business deal. They are bearish and their numbers sucked on their EBITA. Business is way down and those they supply are hurting on revenue,.

I read where consumer confidence is the lowest since 2009(remember that abortion?) which further supports what the meeting yesterday indicated. Morneau's right hand man predicts a mess with the loonie at .62 from late 2017 and the BoC in between 1) a bind to try to raise rates due to Yellen @ the Reserve, 2) and a BoC raise putting the mortgage market and homeowners debt ratio/load in a tailspin.
I suppose exports would grow if oil goes up, but then the US rig count just eats that gain up.

Jr sure has a hold of a banger with the fuse lit and nowhere to toss it.

On top of that I'm told he is cutting funding to mental health since he increased funding to Africa's program, or lack of......

Yep interesting times and curiouser and couriouser.......

[JBen]

I really, really try hard not to read stats anymore. Its like getting a text message ding a ling, looking at my phone and seeing my Exs name. Blood pressure rises, knots in my stomach, claws on a chalkboard.

Did read a few the other day.
Ever wake up in the morning, and in every direction you see a sign in a square around you that says "Warning, minefield' and your smack in the middle?

Well thats kind of how I feel about things. There are paths out, but any misstep and it could just blow to kingdom come and back. The Donald scares the hell out me, not because I loathe him in the way some loathed Harper or we utterly detest Wynne. But because he's a moving mine.......and just off his freezing rocker enough he could do almost anything. Jr at least is "predictable".

Wynne, the unions, the shortsighted GTA, etc.
Just butt ugly and thats all there is to it. No escaping it, it is what it is.

Not sure what the BoC is going to do, no clue. If they dont, it should devalue, good and bad in that. If they do they run the risk of putting some braking pressure on enemic growth ...and.... tipping it over, pushing people into places, no differently than Wynne and policies here are pushing people into "Energy Poverty" ( funny how fast everyone has forgotten these are the same people she was soooooo worried about, she sold the gta on Orpp) and once it starts the momentum could take things where no-body here wants it go..

No one, not even Buffet can predict the future, and any winds can blow. And she is just ripe to blow, sky freeking high

[fishfood]

My TD Canada Trust loans officer neighbor tells me 70% of young clients are mortgaged to the eyeballs relying on real estate to continue it's growth to build equity in property to offset liabilities and have credit card debt accumulating from only making minimum payments every month. Man,this can't be good going forward,no matter which way it's sliced.

Wonder what the crunch is now? Many are still struggling with high debt. 2 years after this post in 2019 Canadians were already in some serious troubled times. We kicked the can down the rd while increasing the cost of living. The bank of Canada just announced that mortgages will be 20 to 40 percent more by 2026. They said the old low interest over the past decade is a thing of the past and these new higher rates will be the new normal. It's part of the new transition they said. Our government also used the pandemic as an opportunity to put more of a burden on Canadians.

Add in the price on carbon to force us to go green they already said if they make it unaffordable we will make the switch to green energy. Just like smoking make it unaffordable to make you quit.

When our government is making it more expensive to live I see where they get we will own nothing and be happy. Soon Canadians will be making some difficult decisions. Anyone who purchased a home in the last 3 years can expect not to be able to afford their home. Words of wisdom from the bank of Canada that will be ignored by many.

Sucks but our finance minister sits on a board that predicts just that. Hahaha.
Her friends think we will own nothing lol.

Sent from my SM-G975W using Tapatalk

[trimmer21]

Nobody ever said that the situation will get better....only worse. When household debt-to-income ratios have reached 70% of disposable income,within the next 6 months,shyte is about to get very real for millions of the "trendy entitled" Gen Y and milleniels who thought they knew everything.