Posted on: 07-03-15 18:04:29
Quote:
Originally posted by san-hugo
It will go on at least in GTA and Vancouver till there is demand of housing.
Today you put an ad in kajiji on a rental property in Toronto/Etobicoke/Missisauga in the morning and by noon , you get 8 -10 calls for showing the property. In week's time its rented already. Homes to be sold in most of these areas are not even staying in the market longer than 3 weeks, some sold with bids. What does that tell you ? Demand is high , Very high.
I would second that...the daily MLS house sold report shows almost all houses sold in maximum 2 weeks with more than asking prices....
With other provinces taking a beating with commodity pricing, the province with service sectors like Ontario (especially GTA) is booming !! I have already got 3-4 interviews within last 2 months for the positions I haven't even applied for. Job market are improving in the ON...
Also the people who went out of ON, behind high paying oil jobs, are returning back to Ontario with their earnings/savings & buying houses right away with lower interest rates...
Don't worry about people nagging & throbbing RE in GTA.....These are mostly people like my friend who is renting an apartment in Etobicoke since 2005, & never bought a house or a condo, just because they think this house of cards & this inflated RE is going to collapse. I simply laugh at him now.....I bought this house in 2008-2009 with recession going on & now have almost 360K in home equity.....Now he totally avoids talking with me or looking in my eye whenever we meet somewhere. He has now realised what a fool he has been of never even starting to build home equity....
just ignore the fools is the whole point...
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i..........rock........!!!!!
Its always a euphoria lile feeling at the peak. Don't worry, the party has few more months to continue.
Once US raises interest rates, in the 2nd half of 2015 (for the first time in 8yrs), a generational shift is coming.
Talk to anyone who owned a house in early 90's.
what has US raising interest rate to do with us ??? Canada won't be able to raise rates in near future with the current oil prices...
Also the cheap looney what you said in earlier post will make sure the interest rates stay low & will be good for the service sector provinces like ON because to more US orders....
But ofcourse you don't want to look at all those factors....
By the way do you have any idea what the recession & RE collapse in US during 2008-09 had affected the major metropolitan cities in US ??? practically nothing when the other small cities were catastrophic. The prices didn't rise for an year in the big cities due to the fear/job losses but within a year it started rising back again as people from small cities started moving back into crowded cities in look for jobs...
I can show you people posting about "party is only for few more months" since last 5 years & I can dig one of your own post about this, few years back. Do you want to follow up on your those predictions ??? You were saying the same thing about rates going to go up but practically the rates remain same for 3 years & in-fact before a month Canada has reduced the rate which has added fire to the RE in GTA...
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i..........rock........!!!!!
Rates going up in US is good for Canada. Comm'on get real. Think a bit far. Last few yrs was a gift & it can't (& will not) stay forever.
Ask any employee in the oil patch. It doesn't takes long to repeat what happened in early 90's.
Quote:
Originally posted by dhaikin
Rates going up in US is good for Canada. Comm'on get real. Think a bit far. Last few yrs was a gift & it can't (& will not) stay forever.
Ask any employee in the oil patch. It doesn't takes long to repeat what happened in early 90's.
Ok.... you are right !!! Keep living in rented apartments & keep on wishing that the country gets ruined one day so that you can start investing in house. So good damn plan....
Anyway am sorry to the OP for dragging the discussion in wrong direction. Was totally not intentional....Don't know much about US cities so cannot add more to the thread
Am out of the thread....
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i..........rock........!!!!!
irock,
Good finally someone noticed the discussion was in wrong direction
Thanks
