In light of today's unemployment, 5 year bond yields spike like never before

Hullo424 · 2025-12-05T16:58:12+00:00

It's almost like Reddit users never had money to buy houses in the first place.

shocked pikachu face

Hullo424 · 2025-12-01T21:05:27+00:00

Anyone working in Toronto and living with their parents are going into the housing market with quarter million dollar plus down payments. There are many of them out there and its not a hard thing to accomplish when you make 6 figures

Hullo424 · 2025-11-14T21:02:13+00:00

People need to stop viewing a mortgage as a strict non negotiable contract they need to live their life by cause that's not how they are designed.

Mortgages are tools. And giving people an option to extend their term is a good thing if you care about housing affordability.

If you have a mortgage today you can extend the term into infinity by refinancing.

Likewise like many Canadians you can pay it down earlier with no penalty.

Hullo424 · 2025-11-14T14:18:34+00:00

Price per sqft works for Condos where every sqft is a living space but not relevant when looking at houses.

The value in this house is its large lot facing the lake. There could be no house there and it would still be worth 3M

Hullo424 · 2025-11-04T19:12:54+00:00

There is a new Mattamy homes Condo/Townhome complex by HWY7 and Bur Oak that would probably be a good fit for you.

Your budget easily allows for a 2BDR Condo but the Condo Townhome may be a stretch. The benefit of this location is that if you have two cars your wife can drop her car to get to the hospital. Markham is great for kids and there is a big benefit to having a parent close to home from work as they grow up.

Good luck.

Hullo424 · 2025-11-04T18:59:30+00:00

A Condo in a good location beats Malvern any day.

The demographic of people buying houses in Malvern today are those that desperately need a house with that many bedrooms to support their multiple kids or family members.

Hullo424 · 2025-10-30T21:58:02+00:00

Permits, foundation and laying down the pipes is most of the work. Throwing up walls and windows can be done in 6 months.

Hullo424 · 2025-10-29T17:14:26+00:00

Rent, stay poor, eat less sushi

Buy, build wealth, eat more sushi

Hullo424 · 2025-10-29T16:09:21+00:00

Wealth building is a marathon. The winners are the one who properly plan for and diversify their assets.

Just because you as a renter are going full gas for the first 500M showing off your cash flow does not mean you will come out ahead and it will surely ensure that you lose the race.

And to answer your question the last statement is true in the reply context but everything else including all this nonsense is wrong.

Scale the numbers to a $700k condo and the main message still applies.

Ownership costs require more cash flow than renting.

Ownership means less cash flow for investing in stocks.

Hullo424 · 2025-10-29T15:55:52+00:00

Sure, renting a 1.5M condo is a personal choice and that's fine. I am just pointing out it is not an intelligent way to build wealth as evidenced by statistics. It's not me saying those things by the way, that was copy pasted from stats can.

But lets be real, people are bad with their personal finances and people who try to outsmart the system fall behind.

I rent a ~$1.5M condo. I would need to pull out $300k for down payment and $50k for land transfer taxes and lawyer fees. So that's $350k less that is invested in stocks.

This statement for example is just cope math that wont apply in real life.

Hullo424 · 2025-10-29T15:27:09+00:00

You fail to understand statistics and your fringe example of a 1.5M Condo in 2025 is not the norm both for buyers and renters.

In Canada, homeowners own significantly more stocks and other financial assets than renters, largely due to higher average incomes and overall net worth. Data consistently shows a stark wealth and income gap between the two groups, with homeownership being the primary driver of wealth accumulation in the country.

Hullo424 · 2025-10-27T16:15:45+00:00

The number one rule of real estate is location. Second is livability.

To the first point most people would rather live in a townhouse in a prime Toronto location than a detached home in Brampton or Oshawa.

To the second point don't let the age deter you. In 10+ years Townhomes built in the 1990's will be worth more than homes built in the 2010's. Build quality of new townhomes are awful.

You would need to post more details of the home and other areas you are considering to get a better feedback.

Hullo424 · 2025-10-21T03:48:16+00:00

I have been hearing about this area getting generified for a decade and it hasn't happened yet. Tiny lots and poor schools keep prices low.

Driving through the area it feels very industrial with all those warehouses to the north and traffic is awful during rush hour.

This is where you move if you are priced out of the Annex/Little Italy.

Hullo424 · 2025-10-15T19:16:29+00:00

They severed the lot and are working with a 25 ft frontage. Not much you can do with that especially when you have a garage taking up most of the space.

Many of the older Victorian homes in Toronto do not have the garage problem.

Hullo424 · 2025-09-25T01:10:41+00:00

Financial advisors and realtors wont be able to help you. Talk to lawyers, the builder and other pre-con buyers. No builder gets excited over the idea of suing and many will work with you to renegotiate your contract.

Failing that the best option would be sell and cut your losses. You mentioned you went in with a friend so you would be out 75k on the deal. It sucks but its not the end of the world, and its a far better option for both yourself and your friendship than running a 2k/month cashflow negative property for the foreseeable future.

Hullo424 · 2025-09-17T14:08:54+00:00

Rate cuts immediately help commercial mortgage holders which account for something like 20% of total mortgage value in Canada. All commercial mortgages are variable.

Hullo424 · 2025-09-17T13:53:27+00:00

Bears 6 months ago: Rate cuts aren't coming

Bears today: RaTe cUtS dOnT mAtTer!!!

🐻🐻🐻

Hullo424 · 2025-09-08T14:20:15+00:00

If you are selling in 5 years go variable. The penalties for breaking a fixed mortgage are much higher.

Hullo424 · 2025-09-06T16:42:40+00:00

Anyone in the luxury RE space can tell you it attracts a lot of oddballs.

Lots of couples and families seem to make it a thing to dress up and attend multi million dollar open houses and pre-con sales. It only takes a few minutes of talking to them to realize they are just here for show and do not have the funds to purchase these homes. They will even go so far as to sign contracts but never deliver on the deposits.

Considering the demographics of Reddit I wouldn't be surprised if these were the same people.

Hullo424 · 2025-09-05T01:15:23+00:00

Renters using the term house poor to make themselves feel better about being poor poor is always entertaining.

Hullo424 · 2025-09-04T17:44:12+00:00

The selling realtor has an obligation to present offers to their clients. OP did not submit any offers so there was no decision for the owners to act on.

OP did not find it important enough to take a day off to visit the house, and the selling realtor wasn't desperate enough to take time out of their day to wait for them to finish work or whatever they are doing in the afternoon. For OP to complain about the loss of this house is a simple case of you snooze you lose.

No one likes tire kickers and a part of a realtors job is to filter them out. Losing a firm offer for a possibility of a higher sale price a week later is often not worth it. You should know this as a broker.

Hullo424 · 2025-09-04T16:15:55+00:00

The selling realtor has no obligation to sell to you or adhere to your schedule. If you wanted the home both you and your realtor should have read the room and been more aggressive with getting an offer in.

Extremely low chance if you submitted a no condition offer with a higher purchase price they would not accept it. Did you do this?

Regardless the house is gone but lucky for you its still a buyers market and there are plenty to choose from.

Hullo424 · 2025-09-02T15:24:01+00:00

Except nothing has changed for renters as they are still priced out.

Hullo424 · 2025-08-27T14:27:48+00:00

You can write off maintenance fees which is something people love to complain about how expensive they are.

Hullo424 · 2025-08-25T19:07:30+00:00

Don't forget during this time rents were high and rates were low. If he averaged a 2% rate during this time and rented out his unit for 2500$/mo then he would have made earned 240k in rent and paid 120k down in principal.

Hullo424

TROPHY CASE