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Rants etc.....

crazyea

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May 15, 2012
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Surrey, BC

$1.2M gets you 9000 sq ft on 3 acres here in greater Moncton.... :)
Very nice.

Look at the ugly ass house you can get in surrey for 2.5! I live close to this house and it looks pretty bad in person, it has early 90's construction vibe to it. And the overall workmanship is pretty poor.


And almost 1m.

 

sswilson

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Very nice.

Look at the ugly ass house you can get in surrey for 2.5! I live close to this house and it looks pretty bad in person, it has early 90's construction vibe to it. And the overall workmanship is pretty poor.


Definitely not to my taste, although I do like the idea of over-the-top scarface stairway. :)

edit: The second one you posted ($950K) is probably a $130K - $150K house here. (Would have been $100K - $130K last year).
 
Last edited:

crazyea

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Definitely not to my taste, although I do like the idea of over-the-top scarface stairway. :)

edit: The second one you posted ($950K) is probably a $130K - $150K house here. (Would have been $100K - $130K last year).
Here, those were 100-120k 25 years ago. 10 years ago around 380k, 5 years ago around 700k. Everything increased rapidly before the winter Olympics here. Everyone was thinking about the bubble bursting, but it hasn't happened yet. It's practically impossible for single families starting out to get into the market these days. Too many foreign investors buying everything up.
 

sswilson

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Here, those were 100-120k 25 years ago. 10 years ago around 380k, 5 years ago around 700k. Everything increased rapidly before the winter Olympics here. Everyone was thinking about the bubble bursting, but it hasn't happened yet. It's practically impossible for single families starting out to get into the market these days. Too many foreign investors buying everything up.

Yeah, $3800 expected monthly mortgage on the second one is absolutely crazy. I'd imagine even a $75K salary would leave someone mortgage poor at those kinds of rates, and heaven forbid mortgage rates go up a couple of points.
 

JD

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All about the location I suppose, but even then, I'm not sure the local economies in some of these spots really can sustain such an expensive house either. Prince Rupert, for example, appears to be pretty remote. Is the expectation you have a plane/helicopter? Is the ferry down the coast any quicker? I don't see how a "local" in Price Rupert could afford $1.5mil. Feels like most people are being priced out of their neighbourhoods.
 

crazyea

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All about the location I suppose, but even then, I'm not sure the local economies in some of these spots really can sustain such an expensive house either. Prince Rupert, for example, appears to be pretty remote. Is the expectation you have a plane/helicopter? Is the ferry down the coast any quicker? I don't see how a "local" in Price Rupert could afford $1.5mil. Feels like most people are being priced out of their neighbourhoods.
Maybe foreign investors or people making bank remotely. Logging, fisheries, or even forest fire fighters. Idk.
 

gingerbee

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Orillia, Ontario
well it's not as easy as it once was to get into a property but its not as hard as people may think, I mean you need to be smart with your money of course but with 20% down there are still loads of properties around the 500,000 mark.

I mean my wife makes 60g a year and mother in law doesn't make that much 30g if she's lucky and after a $1500 mortgage a month we will all save quite a bit of money. Yes, we have accounted for all the bills not just water/hydro/gas.

The bigger problem I think is that people are holding out hoping it's going to crash, why would it crash there is nowhere near the amount of house's needed for all the people wanting to buy, that won't change for quite a while I think it's going to level off for a few years cause buying will slow down and in a few years once the economy catches up with inflation it will all level out and it will all start over again

Edit I am talking about southern Ontario
 

Shadowmeph

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Very nice.

Look at the ugly ass house you can get in surrey for 2.5! I live close to this house and it looks pretty bad in person, it has early 90's construction vibe to it. And the overall workmanship is pretty poor.


And almost 1m.

the area isnt that great at least it was a few years back actually both areas ( they are pretty much 3 blocks away from each other) are not or where not good . it used to be Vietching ( used to be 65th-80th 132-123street) area but it might be different now always before just park around the area at night for a few hours maybe drive around a little for a few hours at night you will notice
 

sswilson

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Housing prices was one the main motivators for choosing Moncton when I retired from the military. Even between Moncton and Saint John there was still a $20 - $30K premium for Saint John in spite of Moncton being the larger economic driver in the province.

Living in an affordable housing market makes a huge difference when it comes to required income/salary. The pay rates of national employers (like Costco) really stack up well here in Moncton while the same $28 / hr pay rate in other markets might be kinda "meh".

I have no idea how low wage employers (like fast food) find employees in those kinds of markets.
 

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