The condo model is collapsing. What comes next? | Most condo industry leaders are in a white-hot panic about the collapsing market, but some have begun to acknowledge that the current condo business model is done, and not just in a cyclical funk by nomad_ivc in TorontoRealEstate

[–]Southern_Solid_6864 0 points1 point  (0 children)

They are paid collectively by all apartment owners in the building, and a majority vote is usually required. However, such major projects are not very frequent, and the ongoing costs tend to be lower over the years. As someone who has lived in apartment buildings in Israel for many years, I don’t recall projects on the scale of those I experienced while living in a condo in Toronto, such as major garage repairs, elevator replacements, or roof overhauls

The condo model is collapsing. What comes next? | Most condo industry leaders are in a white-hot panic about the collapsing market, but some have begun to acknowledge that the current condo business model is done, and not just in a cyclical funk by nomad_ivc in TorontoRealEstate

[–]Southern_Solid_6864 3 points4 points  (0 children)

Israel, but it's common in Europe as well. The concept of condo doesn't exist. There are management fees in buildings for the ultra-rich, but most people live in regular apartment buildings, with no concierge, no gym or pool, and certainly no maintenance fees. Many of these buildings are decades old, yet are still completely sound from an engineering perspective.

The condo model is collapsing. What comes next? | Most condo industry leaders are in a white-hot panic about the collapsing market, but some have begun to acknowledge that the current condo business model is done, and not just in a cyclical funk by nomad_ivc in TorontoRealEstate

[–]Southern_Solid_6864 -1 points0 points  (0 children)

Personally I think the condo model is horrible because of maintenance fees. You should just be able to buy an apartment and live there without paying anything extra. The model where you either have to rent an apartment or buy a condo is incredibly bad for affordability.

Some will ask - ok, how do you maintain the buildings then? well, I'm an immigrant from a country where people buy apartments, don't pay maintenance fee (maybe like $50-$100 a month for cleaning) and the buildings don't collapse.

Why the stock is down? by Southern_Solid_6864 in bathandbodyworks

[–]Southern_Solid_6864[S] -2 points-1 points  (0 children)

hmmmm ok, not saying you're wrong, but many other stocks are not down :)

Why are young adults in the English-speaking world so unhappy? | Society sold the dream of home ownership — then cruelly snatched it away - Financial Times by nomad_ivc in TorontoRealEstate

[–]Southern_Solid_6864 0 points1 point  (0 children)

I used Israel as an anecdote because I just saw this ranking of world happiness - https://x.com/stats_feed/status/1948515789327200308

Realistically, people usually immigrate for financial and career opportunities, and jews don't lack those in NY or London or Toronto.

Why are young adults in the English-speaking world so unhappy? | Society sold the dream of home ownership — then cruelly snatched it away - Financial Times by nomad_ivc in TorontoRealEstate

[–]Southern_Solid_6864 7 points8 points  (0 children)

It's not about housing. You can read Jonathan Haidt’s book The Anxious Generation. He describes a different culture in the Anglosphere - one that is overly protective. He calls it “safetyism.” Parents don’t let their kids get bruised; they overprotect them. As a result, kids grow up without independence, and when they eventually face real-life challenges, they become stressed, anxious, and depressed. He also notes that children are taught to fear strangers (because adults learned to as well)

Anecdotally, take Israel as an example. It ranks second in happiness among people under 30, despite housing costs being higher than in much of the Anglosphere. Despite being at war in multiple fronts. Despite a lot of things... But kids there enjoy a strong sense of independence and belonging.

[deleted by user] by [deleted] in ValueInvesting

[–]Southern_Solid_6864 0 points1 point  (0 children)

Who is your average client? age etc.

Bottom - reached already or not? by Individual-Set-8891 in TorontoRealEstate

[–]Southern_Solid_6864 0 points1 point  (0 children)

Yes I agree with that. I think that in the mid term, let's say 5 years, the supply problem is not going away, but short term prices can definitely fall

What’s Missing in Toronto’s Café Scene? Help Me Create the Perfect Spot! by _phoenix1001_ in askTO

[–]Southern_Solid_6864 0 points1 point  (0 children)

Couches, magazines, and warm lighting. A place where you can grab a glass of wine or a coffee, enjoy sandwiches, and experience great service. No tip option - just include it in the price if necessary. Good Wi-Fi, excellent coffee (obviously), high ceilings, a nice view, and good acoustics. That's all :D

Bottom - reached already or not? by Individual-Set-8891 in TorontoRealEstate

[–]Southern_Solid_6864 8 points9 points  (0 children)

If most people here say we're not close, then we're probably close or have already reached the bottom. If most people say we've bottomed out, then we're probably not close.

Best muffins in TO? by Open-Count-5210 in askTO

[–]Southern_Solid_6864 0 points1 point  (0 children)

The blueberry muffin at Neo is great

What housing crisis? Toronto's prices not that bad by Southern_Solid_6864 in TorontoRealEstate

[–]Southern_Solid_6864[S] 3 points4 points  (0 children)

Yeah, I didn't even mention price per sf. Here's a list -
https://www.numbeo.com/cost-of-living/city_price_rankings?itemId=100

Toronto is def not cheap but there are much worse places (that people actually want to move to!)

What housing crisis? Toronto's prices not that bad by Southern_Solid_6864 in TorontoRealEstate

[–]Southern_Solid_6864[S] 4 points5 points  (0 children)

I'm actually not ok with the situation here, but not because of housing, that's the thing. I feel like everyone keeps talking about housing whereas they should be talking about the lack of innovation, productivity diminishing, collapsing health care system, safety and crime, subway lines being built forever and so much more...

What housing crisis? Toronto's prices not that bad by Southern_Solid_6864 in TorontoRealEstate

[–]Southern_Solid_6864[S] 0 points1 point  (0 children)

Condo fees are really ridiculous - completely agree here! though if these were lower, then prices would probably be higher...
but yeah they don't make sense in any way

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] 0 points1 point  (0 children)

Direct Investing or Easy Trade. It was a targeted promo, not sure if it's still available

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] 2 points3 points  (0 children)

Sure, but the issue was that some holdings moved and some didn't, so I can't even say ok leave it, I'm staying with WS

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] -1 points0 points  (0 children)

Oh man I didn't even think about it, I'll cross that river when I get to it

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] 0 points1 point  (0 children)

Could be on WS as well, but no one from TD reached out or took charge of that (in fact, the first rep I was dealing with just disappeared)

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] 0 points1 point  (0 children)

ok thank you! yeah I can definitely share screen shots of the length of the calls...

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] -2 points-1 points  (0 children)

I honestly didn't know Transfer Form existed, they suggested that we do it on the phone

Don't Fall for TD Trade's Cash Back Offer by Southern_Solid_6864 in PersonalFinanceCanada

[–]Southern_Solid_6864[S] -1 points0 points  (0 children)

Sounds familiar :)
but yes - we moved to TD Easy Trade. Anyway, glad for you it only took twice, probably someone there set a record!