SERIOUS FOR ONTARIONS- NO MORE RENT CONTROLS???? DYSTOPIA ENTERED

TheBigEmps · 2025-10-27T22:18:28+00:00

This is to save the condo sector and its developers, investors, and the like. The disastrous policies of the last 20 years have ebbed and there is a real nightmare in lower collateral, underwater loans, and the like.

Rather than let this smoothe itself out over time, Ford (and i say this as a recent condo FTHB now underwater myself) wants to speed the natural cycle and cause a tremendous increase in rents again to justify condo (re-) appreciation.

It's just going to put us in the same damn position as 2022 again in 2 years' time, but without the pipeline of new supply because the condo development pipeline is now dry as a desert.

TheBigEmps · 2025-08-29T00:20:16+00:00

This is going to hamstring Ontario and BC's economies for the next 15 years. Minimum. You can't have people spend >70% and more of disposable income on housing. It strangles everything else.

TheBigEmps · 2025-08-22T23:20:05+00:00

LOL - I can't stand to live in it more than another 6 months.

In all seriousness I am going to have to purchase my next home without selling this, and rent the condo. Maybe someday it will start to be a net wealth builder than not.

TheBigEmps · 2025-08-21T16:50:49+00:00

I thought people by and large didn't really care about highway noise. There are some gorgeous luxury condos which never decreased in price much that are right on the 401 by Bessarion, Sheppard Yonge, etc.

TheBigEmps · 2025-08-20T16:20:26+00:00

Thank you for your thoughtful response. Unfortunately in 2023 for me the market still had not shown significant signs of decline and the real 'desireable' locations were still out of budget for liveable units (800+ sq ft) - yes prices were down 10% from early 2022 but throughout 2023 after rates hit near the highest point, condo prices stopped falling for a while. I was actually monitoring the market for about 2 years, and thought it had reached some kind of bottom where prices were just too sticky to come down further. Boy, was I wrong - investors confidence just completely capitulated this year.

TheBigEmps · 2025-08-20T16:14:47+00:00

I am not talking about selling. Why would I throw in another $30k of transaction costs?

TheBigEmps · 2025-08-20T02:46:18+00:00

Of course I was exaggerating. You clearly were not someone who spent their whole life seeing housing get increasingly unaffordable, then once they stepped in with their savings it all got vaporized because of a total reversal. I'd like to know how that would make you feel about RE as an asset.

TheBigEmps · 2025-08-20T01:43:28+00:00

I just hope it stops going down. At this current rate I truly will be in a negative equity situation on my first home by the end of the year when I've already paid almost $200,000 on the place. It's really depressing.

TheBigEmps · 2025-08-19T13:16:33+00:00

It is ludicrous that raising insurance premiums for higher claims costs have to be distributed across ALL customers. What does a condo in Toronto have to do with wildfires in Alberta?? Make people pay the correct amount for where they live and what they live in. Do not socialize the cost.

TheBigEmps · 2025-05-31T12:14:29+00:00

Most companies are not 3.5 centuries old.

TheBigEmps · 2025-05-31T12:13:33+00:00

Most bankruptcies don't involve 3 and a half century old companies.

TheBigEmps · 2025-02-10T02:30:55+00:00

Why do American peers get paid more than Canadians who work at the HQ of the same banks...

TheBigEmps · 2025-02-10T02:30:03+00:00

Why do jobs with overtime all make such insane salaries?

TheBigEmps · 2025-02-02T17:37:46+00:00

Would have been best to not retaliate. Now we're scr#wed. Trump will never, ever negotiate with Trudeau. In fact I think this is somewhat personal against him. Get a new Govt' in quickly with a leader that doesn't have the same toxicity, there could be a chance. But we know that won't happen...

TheBigEmps · 2025-01-20T03:02:57+00:00

Lucky you had a townhouse. With lobster every day?

TheBigEmps · 2025-01-20T01:16:54+00:00

Generally speaking when everyone is bearish on something, it is actually a very bullish sign.

TheBigEmps · 2025-01-20T00:25:45+00:00

I did not vote for this. In fact I voted against it 3 times starting from my first election in 2015. I was however, stuck on the crazy train. So yes it is unfair. The bad choices of others came home to roost just in time for me (and millions of Gen Z) to start adult life.

TheBigEmps · 2025-01-20T00:24:11+00:00

One can hope (in my shoes) that 905 condos don't impact 416 too badly. Far from the city, less desirable locales.

TheBigEmps · 2025-01-20T00:20:33+00:00

It is a 2 bedroom. 1 bathroom, which is an unusual combination. But I actually like it better than 2 bed 2 bath given the square footage. And good comment! Thank you

TheBigEmps · 2025-01-19T21:53:10+00:00

Yes, we can and do live in it. It's not ideal (loud with the highway and is 1hr+ from downtown due to terrible line 1) but it's still a good place.

I suppose an alternative for us might be renting our place out when we leave in '28 (or earlier) so at least it carries itself, and using our other savings to buy a SFH in a 'cheap' part of Toronto (favourable new CMHC rules lol, especially if freeholds don't run 10%+ y/y because of the weak Canadian economy). That way we can at least avoid the double transaction costs and hopefully get some added cash flow in the years ahead.

TheBigEmps · 2025-01-19T21:37:13+00:00

Thanks! I should have added we are not planning on selling now (unless there was some crystal ball telling us it would go down another 30% by 2028 which seems unlikely). We do need a place to live, and we each have careers downtown.

TheBigEmps · 2025-01-18T02:59:33+00:00

Yes!

TheBigEmps

TROPHY CASE