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"It's selfish and unrealistic to expect to buy a house" *literally every rental is 1 bedroom*
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Aug 11, 2021 20:24
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It loving owns that the only way to have 2 offices and a bedroom. when both people work from home is to rent half a duplex from amateur landlords who double as Canada's worst handyman and then kick you out right at 12 months when their family situation changes. 3 times in 3 years. My partner and I make almost 200k and we have yet to live somewhere that can fill regular sized furniture and appliances. COPE 27 fucked around with this message at 03:43 on Aug 12, 2021 |
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Aug 12, 2021 03:40
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Yeah a "gold" plan costs like 70% of my total income tax in Canada lol and you still get bankruptcy and homelessness randomly sprinkled in
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Aug 15, 2021 19:04
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The 2 overpriced condos I rented were definitely cash flow negative for the owners, equity only goes so far
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Sep 2, 2021 17:15
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My household income is apparently 95%+ percentile and we can't afford to buy a house or have a family probably ever because both of our families are poor and didn't pay for college and downpayments like our more "successful" friends.
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Sep 19, 2021 22:07
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Franks Happy Place posted:I once told Fortis to eat a multi million dollar loss because they tried to stick the cost of an orphaned gas line project onto the general ratepayer, because my predecessors had carefully tracked that gas line as a line item for ten years in anticipation of the day some young analyst like me would come along and throw the last shovel of dirt on them. Masha'Allah
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Sep 24, 2021 04:40
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Fidelitious posted:Super cool, if I hang on to this condo I can exploit the poo poo out of someone poorer than me based purely on possession of capital and not providing any kind of actual value, sounds great! It's a special kind of stupid/evil when you exploit someone for an investment that isn't even cash flow positive. My lovely $2800 Toronto rental would have cost about $4000 between mortgage, property taxes, and and condo fees lmao.
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Oct 8, 2021 17:40
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Well new condos are the ones going up every year. The going up every year phenomenon has a selection problem, which is that the units that aren't going up don't go on the market. In this case you would have spent net $300,000 to have a 25 year old depreciating asset that was worth $700,000 25 years ago but now has low demand and costs you $1000+ every month. Hopefully you didn't get a single special assessment in those couple decades  Also don't forget that every time a tenant moves out you are giving $3000 to a broker.ROI is better in an index fund. Also then you aren't landlord scum. e: I looked up condo prices in my city - new is averaging $580k, 15+ years old is averaging $295k lol VVVV My job gives me a car budget of $38k and I had the cheapest car in the condo parking structure COPE 27 fucked around with this message at 02:26 on Oct 9, 2021 |
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Oct 9, 2021 02:15
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There's somewhat of a relationship because of trade and capital flows but the CAD is relatively high rn so I suspect there's not as much pressure to raise rates specifically because of the fed, but we're seeing pretty high inflation in Canada and strong demand so we'll probably see a rate increase anyway. Also it's been years since I took econ so I'm probably wrong about everything.
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Oct 9, 2021 17:05
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You don't need a reference letter to rent what are they talking about
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Oct 10, 2021 16:28
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I've rented in Toronto, yes you need a credit report, proof of income and your old addresses but no you do not need a letter from your landlord - that's some 1700's Russian level of serfdom we aren't at yet (barely)
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Oct 10, 2021 16:52
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An agent is really helpful when you are flying into Toronto Friday morning and need to move on Monday. Other than that I can't imagine using one.
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Oct 19, 2021 14:15
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Lead out in cuffs posted:Over a 25-year mortgage, that means paying in $825,000 to get a $1M property. So I guess it still makes sense, if you have nearly $3K/month in disposable income lying around. Yeah it might be worth it if you ignore the time value of money, the risk of special assessments, and the risk that a 25 year old shoebox isn't worth a million dollars in 25 years.
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Nov 9, 2021 13:33
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quote:Only about 5 per cent, or one in every 20 properties in Ontario are currently inspected at any point before or after the sale, according to Len Inkster, executive secretary of the Ontario Association of Certified Home Inspectors. Lol
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Nov 25, 2021 20:21
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If I had to spend millions of dollars without knowing whether it would kill and/or bankrupt me I simply would not buy a house.
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Nov 26, 2021 16:46
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Lol The Bank of Canada Only Sees 2 Real Estate Bubbles and Vancouver Isn’t One of Them Lmao Lol
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Dec 2, 2021 23:55
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Living full time in a luxury hotel compares well with buying a 2.7 million dollar home, financially speaking
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Dec 4, 2021 04:57
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Alctel posted:The immigration system definitely prioritizes rich immigrants though, there is literally (or was when I went through the system) an entire branch that was basically 'if you invest this much money in Canada you get to skip all the points checks (which means you have to be highly educated, have family in Canada or a job here or all three), welcome in' Investor class visas are something like 5000/yr iirc. The student to provincial nominee path definitely priveleges wealthier people on average, but it's usually wealthy for their country not wealthy for Canada. A lot of these people are suffering real economic hardship after immigrating, for the chance at a better life, which is by no means guarunteed and involves years of exploitation by predatory colleges and workplaces, and really substandard living conditions.
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Dec 7, 2021 01:47
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Actually, if we we put more and more people into inadequate houses there's no housing shortage, I am very smart. https://financialpost.com/opinion/g...2f97904488/amp/ Let's just pretend there's no relationship between house size and family size, or household size and supply of housing and then we are no longer the worst in the G7 lol. COPE 27 fucked around with this message at 20:55 on Dec 25, 2021 |
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Dec 25, 2021 20:53
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My econ professor said that's why rent control is a bad thing, it leads to people being able to afford apartments without roommates so it creates a housing shortage.
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Dec 27, 2021 19:08
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Economists have bunch of contradictory philosophies depending on whether it benefits them, personally.
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Dec 28, 2021 06:29
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Did anything happen in 2020 that affected vacancies
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Dec 28, 2021 18:10
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Also the airbnb owners panicking and renting out their houses
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Dec 28, 2021 21:15
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leftist heap posted:Owning a home does not seem to provide any insight into how property tax works AFAICT. The whining like clockwork every year in local newspapers that it's unfair to expect homeowners to come up with thousands of dollars for their tax bill, as if they didn't have the option of paying a couple hundred a month
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Jan 2, 2022 21:38
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Baronjutter posted:"actually the housing bubble is good because it means more tax income for cities" This is how it should work imo
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Jan 6, 2022 22:28
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Femtosecond posted:With apartments there's little to differentiate between them beside location I mean you could differentiate by having literally anything other than a 0 - 2 bedroom in a 50 year old building available for rent.
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Jan 21, 2022 02:51
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Fidelitious posted:is someone going to write an article about someone who didn't do any roof, plumbing, or electrical work on their house for 40 years and is then shocked when the accumulated damage is going to cost 200k to repair? Back when local papers actually had editorial in real estate sections they absolutely loved writing this story lol.
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Jan 25, 2022 16:14
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Autochrome posted:But surely rich people who move can get family doctors? Like how does that work? In Ontario the doctors just build a clinic in a rich area and don't register patients outside the postal code. Then, because they selected for richer / whiter / healthier patients, they switch their payment model to patient outcome instead of fee for service, and get rich!
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Jan 29, 2022 03:23
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Mandibular Fiasco posted:I hadn’t heard of this. Any links that describe this practice? My source is my own experience looking for a doctor for 4 years after moving to Ottawa. I lived in a mixed income neighbourhood which was perceived by many people to be poor. Whenever I googled new doctor's offices they would almost invariably be in high income areas, I would call the office and ask if they were accepting new patients and the first question 100% of the time would be "what's your area code" I find it nearly impossible to find news stores from half a decade ago, but here's a study showing how they used to be even more brazena bout this: https://www.cbc.ca/news/health/wealthy-may-have-an-edge-over-poor-for-medical-appointments-1.1376759
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Jan 30, 2022 00:43
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Ottawa goon, I like what they did with the Beechwood church which was turned into condos but retained some of the architecture.
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Jan 30, 2022 23:45
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They would take that as a compliment
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Feb 5, 2022 20:48
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Guys the supply and the demand are both hosed and no one will do anything to fix it
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Feb 10, 2022 03:09
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In a rare small bit of good news, the local soup kitchen got a surge of donations after getting harassed by chuds in the Ottawa Freedumb Convoy. They are using the money to move 105 clients out of the shelter and into purpose built apartments. https://twitter.com/sghottawa/status/1491807387136806913?t=4D2w9vOVBJFw9vGoKkqbYg&s=19
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Feb 11, 2022 01:12
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Someone at my company just posted a resignation letter specifically referring to housing prices as the reason to move back to her country of origin
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Feb 11, 2022 20:02
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Lead out in cuffs posted:Just a reminder that there are also giant corporations throwing literally billions of dollars into buying up SFH with a view to turning them into rentals. Then why aren't there any sfh rentals
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Feb 12, 2022 03:36
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But it would change the character of the neighbourhood (they might have to look at a poor)
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Feb 14, 2022 02:25
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It cuts down on corruption to pay top civil servants well. Also someone like a hospital CEO could make orders of magnitude more on the open market, but with a sufficently generous compensation it's possible to hire someone with the requisite skills. This is not to say that no one is being overpaid, but first let's ban private ownership of capital and then worry about whether an EX-01 really deserves 40% more than an AS-05 sometime later on imo.
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Feb 17, 2022 04:18
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My wife and I have had parallel career paths, her in public service and me in restaurant management. She always made more than me until we hit the 70-90 range and we made about the same, and now that we are both in the low 6 figures I make slightly more. I have better benefits but she has a way better pension - grandfathered into the old version that pays 80% of top 5 years with 25 years of service. I get a 4% contribution and a 4% match lol.
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Feb 18, 2022 01:36
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My wife and I make $200k and we rent half of the inlaws duplex lol This is because the only way to rent something either than a 600 foot glass cage or an apartment that smells like smoke is renting a house from a private landlord and we have been familyvicted twice in 2 years, so the only way to even RENT decent housing was to familyvict her family's tenants. (Don't feel guilty because they weren't paying rent and were damaging the property, but a pretty hosed situation anyway) COPE 27 fucked around with this message at 04:34 on Feb 19, 2022 |
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Feb 19, 2022 04:30
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| # ¿ Apr 27, 2024 07:17 |
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Saw one of these today. When society found out millenials have weird dishwashing habits the response wasn't that we should build adequate housing with kitchens that actually have a proper sink or dishwasher. No! They want usto invent a new way to spray soap directly onto the dishes and wash them one at a time!
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Mar 3, 2022 02:07
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