Cost of housing in Canada

[Brad Sallows]

A. If the "free-er market" (allowing 4-plexes within building envelopes) is the better, more natural market state- that means the market under exclusionary zoning featured prices artificially inflated by government intervention. Should those gains have been "socialized"?
B. What's a real loss? A paper equity drop of a few % points on the unrealized gain of an asset that's been held for decades and 10x'd surely is not.
C. Why are you so convinced that there will be losses? Either you're right and the real market shortfall is for big homes and big lots and the zoning discussion is much ado about nothing (as the buyers for those homes/lots will be willing to outbid those that want to develop) and the neighbourhoods will remain the same, or the developers profit motive will see them outbid the motivated buyers and the value will actually go up.

What happens depends on what is built and who is attracted to live there. Most of the time, rezoning for increased density should just increase property values. Nevertheless, where there are losses, they should be compensated. I don't mean that everyone should be able to claim a loss for selling below whatever the past peak assessed property value was in the preceding 10 or 20 years or the holdouts who resisted selling and now find themselves hemmed in by six-story buildings on every side. If a social housing development draws gangs and drug dealers and you want to move right now and buyers are not enthusiastic, I've sympathy for claiming a loss.

 

[CountDC]

I understand people being concerned for their property values when zoning changes and also the concept that they bought a place based on the zoning at the time planning to live there as their final place only to have the rules changed.

More of my issue with all the governments is the rules put into place that do not include proper parking requirements so we end up with people parking everywhere. Blame the people too as why buy a place that doesn't include parking if you need parking?

 

[Bruce Monkhouse]

More of my issue with all the governments is the rules put into place that do not include proper parking requirements so we end up with people parking everywhere. Blame the people too as why buy a place that doesn't include parking if you need parking?

This 100%......then act all surprised when kids get hit by cars because they have to step out on the street to see if it's clear.

Every fall the classifieds here are full of folks looking to rent a parking place for the winter.

 

[mariomike]

I understand people being concerned for their property values when zoning changes and also the concept that they bought a place based on the zoning at the time planning to live there as their final place only to have the rules changed.

Metro ratepayer associations work to protect the yellow belt.

We were told when the town is employing you, you buy a house in town. You don’t rent. It means you live here.

Not just visiting, not just passing through. You live here.

More of my issue with all the governments is the rules put into place that do not include proper parking requirements so we end up with people parking everywhere.

We don't even have a sidewalk.

 

[Quirky]

More of my issue with all the governments is the rules put into place that do not include proper parking requirements so we end up with people parking everywhere. Blame the people too as why buy a place that doesn't include parking if you need parking?

This is going to get extra spicy come 2035 with the EV mandate. There will be plenty of community chargers available if everyone has to buy EVs.

 

[Colin Parkinson]

This is going to get extra spicy come 2035 with the EV mandate. There will be plenty of community chargers available if everyone has to buy EVs.

With no electricity to supply them with

 

[Halifax Tar]

More of my issue with all the governments is the rules put into place that do not include proper parking requirements so we end up with people parking everywhere. Blame the people too as why buy a place that doesn't include parking if you need parking?

This is a big problem in my neighborhood.

I didn't used to be, and then developers started tearing down houses and throwing up apartment buildings with little to no parking.

 

[mariomike]

"Ideal for seven students."

$450 / month. Each.

Waterloo, ON

https://www.reddit.com/r/SlumlordsCanada/comments/1c1rr75/ideal_for_7_students

 

[mariomike]

Ten bunk beds ( to be shared by men and women ) in a single basement room with one bathroom.

No carbon monoxide or smoke alarms.

Looks like $1,020 / month, discounted down to $790. Each.

Home in Toronto · 1 bedroom · 1 bed · 1 shared bath

#1 Shared Room Male & Female

www.airbnb.ca

Couple of 1950's era four-plexes at $4,795,000 each.

https://www.realtor.ca/real-estate/26755304/1436-avenue-rd-toronto-lawrence-park-south

https://www.realtor.ca/real-estate/26755305/1440-avenue-rd-toronto-lawrence-park-south

What $5.5 million gets,

https://www.realtor.ca/real-estate/26739854/124-baby-point-rd-toronto-lambton-baby-point

Sold for $1,109,000

Dufferin and Davenport area.

 

[CBH99]

Ten bunk beds ( to be shared by men and women ) in a single basement room with one bathroom.

No carbon monoxide or smoke alarms.

Looks like $1,020 / month, discounted down to $790.

Home in Toronto · 1 bedroom · 1 bed · 1 shared bath

#1 Shared Room Male & Female

www.airbnb.ca

Couple of 1950's era four-plexes at $4,795,000 each.

https://www.realtor.ca/real-estate/26755304/1436-avenue-rd-toronto-lawrence-park-south

https://www.realtor.ca/real-estate/26755305/1440-avenue-rd-toronto-lawrence-park-south

What $5.5 million gets,

View attachment 84618

https://www.realtor.ca/real-estate/26739854/124-baby-point-rd-toronto-lambton-baby-point

View attachment 84613

Sold for $1,109,000

Dufferin and Davenport area.

We really do need that facepalm emoji...

 

[CountDC]

holy crap. I thought there was a limit on number of people you could have in a rental based on the bedrooms. I remember years ago we could not get a place that we looked at because our family was too large for it.

 

[brihard]

holy crap. I thought there was a limit on number of people you could have in a rental based on the bedrooms. I remember years ago we could not get a place that we looked at because our family was too large for it.

There might be legal limits… Are they enforced? Or even enforceable? Push the four extra people out of one unit, they’ll quickly flow into another. There’s a whole underground economy (literally, I guess, in the case of basement suites) of off the books housing. People need a roof.

 

[mariomike]

We really do need that facepalm emoji...

Double-facepalm emoji for renters...

January 2024 Rentals.ca Report

rentals.ca

 

[mariomike]

High rollers in the market for a luxury home may find this of interest.

The luxury price point in Vancouver and Toronto is $3 million.

Luxury homes can be had in Saskatoon and Winnipeg for $700,000.

Luxury Housing Sales in Major Canadian Markets

https://media.blogto.com/uploads/2024/04/02/1712061351-20240401-toronto-real-estate-0.jpg?w=1400&cmd=resize&height=2500&quality=70

 

[lenaitch]

holy crap. I thought there was a limit on number of people you could have in a rental based on the bedrooms. I remember years ago we could not get a place that we looked at because our family was too large for it.

Student off-campus (aka 'ghetto) housing has always been a bit of an animal show. I heard about attached garages being rented out as rooms long before the current crisis. Bylaw enforcement mostly operates on a complaint basis, so somebody has to report violations or at least suspicions.

Possibly a new twist on 'employer provided accommodation':

Kingston Fire and Rescue say they found apartment in basement of local restaurant

Kingston Fire and Rescue issued an immediate threat to life notice to the One Eyed Jack Restaurant and Bar. Police, CBSA also involved.

www.thewhig.com

 

[mariomike]

Or, share your Landlord / Bedlords bed.

Sketchy AF.

It's a new queen size bed that will be shared with landlord (not a twin one as shown in the pic). If interested, pls DM with your introduction and your visa status in Canada. Thanks."

https://www.reddit.com/r/SlumlordsCanada/comments/1caimrx/landlord_needs_a_roommate

 

[foresterab]

Double-facepalm emoji for renters...

View attachment 84638
View attachment 84639
View attachment 84640

January 2024 Rentals.ca Report

rentals.ca

I look at that list...think of my paycheck and almost everything until the green locations is greater than 50% of my take home pay. And I make just under 100k a year.


One hell of a time to be starting out in life is all I can say for kids.

 

[dimsum]

For comparison, since people like to compare us to Australia.

‘Unattainable’: Sydney’s median house price hits record high of $1.6 million

The city has recorded five consecutive quarters of house price growth – a streak that surprised experts.

www.smh.com.au

 

[mariomike]

I look at that list...think of my paycheck and almost everything until the green locations is greater than 50% of my take home pay. And I make just under 100k a year.


One hell of a time to be starting out in life is all I can say for kids.

At least we / they can soon gawk at a new TV series about Toronto's "obnoxiously luxurious" homes.

"Luxe Listings Toronto" debuts Friday on Prime.

 

[Rifleman62]

Who wants to.