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Toronto house sells for more than $1M over asking amid record year for home sales; Makes our housing appear undervalued
Topic Started: 8 Jan 2017, 01:08 PM (4,754 Views)
Bardon
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Waterloo Region home buyers pushed to the brink

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It's all sending local house values soaring — pushing the average residential sale price of a home in Waterloo Region up more than $100,000, or about 30 per cent, in the last year. Many homes are selling in a matter of days, not weeks. Others are already sold before they're formally listed.

A housing market this hot is obviously great for sellers. But it's extremely frustrating for prospective buyers who are getting beat out of bidding wars.

"You get very stressed about it," said Kitchener's Dorothy McGeagh, whose daughter is trying to buy her first house. "As a first-time home-buyer, you don't stand a chance. And especially with bidding wars and these bully offers that come in."

In March, McGeagh spent two days lining up for the chance to buy a unit in a new condo development in Williamsburg. She waited in line all day on a Friday to get a lottery number allowing her to return the following day.

But when she finally got into the sales centre on Saturday, she found real estate agents had already claimed most of the units.

"There's very little actually available, and all the plum, choice units are all gone. The ones you'd actually want are all pre-sold to friends and relatives," McGeagh said. "You waste two days standing in line for nothing."


http://www.therecord.com/news-story/7268774-waterloo-region-home-buyers-pushed-to-the-brink/
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Ex BP Golly
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Bardon
9 Apr 2017, 07:58 AM
Canadian investors might start buying up better valued Australian properties.

Toronto Home Prices Just Jumped Another 33%



What's your point?

Toronto residents can buy cheaper properties in Australia, but they can't buy cheaper in Sydney.

But Sydney buyers can buy cheaper in Canada.

Edited by Ex BP Golly, 30 Apr 2017, 11:22 AM.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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Tommy
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Ex BP Golly
30 Apr 2017, 11:09 AM



What's your point?

Toronto residents can buy cheaper properties in Australia, but they can't buy cheaper in Sydney.

But Sydney buyers can buy cheaper in Canada.
Bardons point is and always is boom ... it's gunna boom. Everywhere is gunna boom. Cause of course it hasn't yet compared to the next boom.
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Bardon
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Ex BP Golly
30 Apr 2017, 11:09 AM



What's your point?

Toronto residents can buy cheaper properties in Australia, but they can't buy cheaper in Sydney.

But Sydney buyers can buy cheaper in Canada.
Sydney has about half the population density of Toronto. Sydney land sizes are bigger than Toronto's, so you get more bang for your buck in Sydney.

Plus you can't wave surf on a lake.
Edited by Bardon, 30 Apr 2017, 01:08 PM.
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Tommy
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Bardon
30 Apr 2017, 11:50 AM
Sydney has about half the population density of Toronto. Sydney land sizes are bigger than Toronto's, so you get more bang for your buck in Sydney.

Plus you can't wave surf on a lake.
Since we're covering stupid things people say. Thanks for yet another boom boom.

So Sydney is attractive because of big blocks and you can wave surf on a lake?

I wonder if Australia has any more of these magic places?.... nah
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Bardon
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Tommy
30 Apr 2017, 01:15 PM
Since we're covering stupid things people say. Thanks for yet another boom boom.

So Sydney is attractive because of big blocks and you can wave surf on a lake?

I wonder if Australia has any more of these magic places?.... nah
In all seriousness Knight Frank reckon that Melbourne will overtake Sydney and it doesn't even have a decent surf beach.

Melbourne has much bigger block sizes than Sydney and its all about the land size.

On the subject of stupidity can you at least get it right for once, Toronto has the lake not Sydney.
Edited by Bardon, 30 Apr 2017, 01:26 PM.
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Tommy
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Bardon
30 Apr 2017, 01:19 PM
In all seriousness Knight Frank reckon that Melbourne will overtake Sydney and it doesn't even have a decent surf beach.

Melbourne has much bigger block sizes than Sydney and its all about the land size.

On the subject of stupidity can you at least get it right for once, Toronto has the lake not Sydney.
So you think this all has to do with lakes and surf????

Listen carefully...

PROPERTY SPECULATORS

PROPERTY SPECULATORS

PROPERTY SPECULATORS

BUBBLE BUBBLE BUBBLE.
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Bardon
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Tommy
30 Apr 2017, 01:42 PM
So you think this all has to do with lakes and surf????
Not really, it's about the capture of the economic rent which is about the effortless financial gain due to land ownership.

Ocean surf and lakes are an amenity.

Edited by Bardon, 30 Apr 2017, 02:08 PM.
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Tommy
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Bardon
30 Apr 2017, 01:47 PM
Not really, it's about the capture of the economic rent which is about the effortless financial gain due to land ownership.

Ocean surf and lakes are an amenity.
record low rental Yeild. Is this what makes these places so attractive ?

Yet another stupid statement from boom boom.
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Bardon
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Tommy
30 Apr 2017, 02:31 PM
record low rental Yeild. Is this what makes these places so attractive ?

Yet another stupid statement from boom boom.
Property rental returns are completely different from economic rent. Rental returns are earned by the owner providing shelter in exchange for a hire fee, the owner needs to produce a house to get them from the tenant, unlike the "economic rent", which by definition can only be classified as such if it is produced with zero effort or cost.

Money for nothing or magic pudding if you like.

This is today's learning for you.

I told you that I would teach you a thing or two if you stuck around a bit kid.
Edited by Bardon, 30 Apr 2017, 03:00 PM.
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