are we in a real estate bubble?Oakville house for sale: $45 million
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http://www.thestar.com/images/thestar/img/060504_oakville_house_gal.jpg
This Oakville house is the most expensive ever listed in Canada. Here are the details from the MLS listing: This home has 30 rooms, including 9 bedrooms, a living room, dining room, kitchen, family room, rec room, breakfast nook, den, sun room. Other features include 7 fireplaces, central air, inground pool, separate dining room, greenhouse kitchen, walkout basement below grade and eat-in kitchen.
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I have only 2 cents to contribute, not a cent more, not a cent less ;-)
Location: God's own country
Posted on: 06-05-06 14:33:56
As a person working in the construction industry, i will reply your question as follows.
Canadian economy is at its peak. Resource sector is doing very very well. Jobs are being created. Every "Goras" is employed very comfortably. The dollar is racing towards par value and is expected to reach it in the next 18 months. land is becoming scarcer and scarcer in the GTA. Immigration of new people is also at multi year highs. The housing market/ real estate value is not expected to dwindle any time soon. But growth will not be as in the previous months in the GTA/Ontario. Growth of real estate value will be at its peak in the Alberta. Building construction activity may slow down in the GTA in the coming months but in no way will the prices come down nor a bubble be created in the days to come. When slowdown occurs , you will have ample time to think about alternatives. Nothing will happen over night.
TK
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I am a Gents and not a Ladies.
Location: British Columbia
Posted on: 06-05-06 16:35:03
Quote:
Originally posted by tamilkuravan
Every "Goras" is employed very comfortably.
OH Really?
If that WERE true, I'd be out of a job
Dont put ur opinions down as facts!-----------------------------------------------------------------
~ Morning rain
Location: God's own country
Posted on: 06-05-06 17:28:12
Quote:
Originally posted by morning_rain
OH Really?
If that WERE true, I'd be out of a job
MR,
I fail to understand your statement.
If all "Gora's" are comfortably employed, how come you would be out of a job?
Immigrant's are employed in the left over spaces left after employing the Gora's. This naturally means that some/many immigrants are employed comfortably.
Please try to fully read and understand my posts before posting a post based on my opinions.
TK
Sidenote : I hope we donot degree from the thread topic anymore. Let us give My2Cents the thread back. If you disagree, please feel free to PM or E-mail me.
Sidenote 2: My2Cents : This happened last year in our office. One of our prestegious client built for his son a very prestegious house at Kleinburg. When he started the project, a house of that kind would have costed him $585K (with his profit). That is around the same rate he sold prestegious houses near by. SInce it was his son's house, he took extra care on the design, fittings etc.... After the house was completed and when he was in a party with fellow salesman, other builders etc.., in the argument and as a test, he wanted to see if the house sold for $ 1.2 million. So he listed it in the MLS. It was gone in a week.
Why i am telling you this story is that Crazy things are happening in the real estate market. There is not more land near the city. People are more richer. The boom is expected to long for a long time.
Sidenote 3: My2Cents -> are you sure the house is worth $45 million? Can the board see the listing on that? To my eyes 9 bedrooms is no big deal. We regularly do a 9 or 10 bedroom house for 750K. Frank Dunn's house in Oakville (Ex Nortel's CEO) was just $7 Million. Unless the floors are of gold , the price seems to be very high and that too in Oakville. I have to see the listing to belive it. $4.5Million is more like it.
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I am a Gents and not a Ladies.
[Sidenote 3: My2Cents -> are you sure the house is worth $45 million? Can the board see the listing on that? To my eyes 9 bedrooms is no big deal. We regularly do a 9 or 10 bedroom house for 750K. Frank Dunn's house in Oakville (Ex Nortel's CEO) was just $7 Million. Unless the floors are of gold , the price seems to be very high and that too in Oakville. I have to see the listing to belive it. $4.5Million is more like it.
It's true. 45 million is the asking price. The home is listed on MLS.ca. Anyone interested to buy? I'd love to be the buyer broker for this property
http://www.mls.ca/PropertyDetails.aspx?PropertyID=4562442
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Quote:
Originally posted by tamilkuravan
Immigrant's are employed in the left over spaces left after employing the Gora's.
??
Mods... is this truth, opinion or misinformation? Is information like this helpful to anyone? A 'report to mod' button would help in cases like this. The mod can proceed at their own discretion after.
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TK,
Could you please explain to me how the "gora" statement belonged to your first reponse??
PM me.
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