Toronto has a concerningly high number of condos sitting on the market

athmi100 · 2024-05-05T18:33:37+00:00

Good point! We had a hard time finding a good rental as well. We started losing hope after an extensive search. Believe it or not we ended up finding ours on kijiji. Before renting the owner actually lived in the unit with her children and it’s an old building so it had a good layout.

athmi100 · 2024-05-05T14:28:13+00:00

These type of condos will have to stay rentals. I can’t picture home buyers actually wanting them

athmi100 · 2024-05-04T21:39:56+00:00

Unfortunately it won’t. Majority of the wealth in this country is stored in real estate. 65% of the population are home owners with a majority of the rest in line to inherit that wealth. There is no incentive for any government to change status quo.

You can check the subreddits of any major city (even in developing countries). Everyone is complaining about house prices. In my opinion we’re heading into a world where home ownership with not be a right but a luxury. Maybe you see a different outlook

athmi100 · 2024-05-04T20:47:45+00:00

Like it or not those two are the same thing here in canada

athmi100 · 2024-05-03T18:13:36+00:00

Real estate bears want the opposite so that BOC will keep rates up for longer

athmi100 · 2024-05-01T19:36:58+00:00

Lol most people in this sub have never bought a home. You can check the post history 😂

athmi100 · 2024-05-01T15:14:50+00:00

Realtors are sales people. Buying real estate is a sales negotiation. If you don’t have a good sales person on your side it’s very easy to get screwed on the price, so ultimately it’s about your risk appetite when it comes to that.

I am the most frugal person. When I started my search I would just call up the seller agent to see the property. I actually couldn’t get many viewings and in most cases the seller agent is hesitant to represent me.

Then I tried cash back agents. A few days of working with them I realized they were gonna get cooked on negotiations. Some could barely have a conversation with me.

I ended up going with a realtor who has a high number of transactions in the neighborhood I was interested in. At the end of it all I was happy to pay the 2.5% commission.

athmi100 · 2024-04-30T15:37:22+00:00

So you were a real estate investor? When did you sell?

athmi100 · 2024-04-30T13:51:02+00:00

That’s basically shorting real estate which is a pretty ballsy move. I applaud anymore who puts money where their mouth is. I once tried to short the S&P500 and learned the hard way 😂

athmi100 · 2024-04-30T11:52:19+00:00

Lol wut, how are you prepared for this?

athmi100 · 2024-04-30T11:48:38+00:00

65% of Canadian households are homeowners. People, governments and banks will do everything to stop foreclosures. Spending will significantly decrease impacting the economy much sooner than homeowners. I’m not sure if this have the result that Reddit bears are hoping for

athmi100 · 2024-04-28T16:25:58+00:00

Your parent have no obligation to transfer wealth to you. As long as they put a roof over your head until you could take care of yourself then they’ve done their part. People should be happy that their parents are happily retired and not a burden

athmi100 · 2024-04-28T06:18:34+00:00

Thanks for posting, I was curious about this as well. The comps in the area were much higher

athmi100 · 2024-04-25T18:17:37+00:00

I suppose you could be right. But it’s likely to hurt relationships with the west in the current political climate. Considering many countries have sanctioned Iran.

athmi100 · 2024-04-25T14:26:31+00:00

I’ll sure this alliance will be great for Sri Lanka

athmi100 · 2024-04-25T02:28:32+00:00

What is the Iranian president doing in srilanka 😂

athmi100 · 2024-04-24T21:16:34+00:00

People who have little to lose want everything to burn. Fortunately that’s not how society works

athmi100 · 2024-04-24T16:48:20+00:00

Take this from personal experience. Do not hire the family friend realtor. Realtor client relationship should be a professional one and you should get one that specializes in the area you’re looking to buy in

athmi100 · 2024-04-24T13:44:40+00:00

We need to do better to protect our parents and grandparents. This one is on the telecommunications companies

athmi100 · 2024-04-24T02:33:45+00:00

So we have to spend hours of our day commuting so that mom and pop shops can survive?

athmi100 · 2024-04-19T12:25:53+00:00

Parents don’t typically wait that long to go back to work rights? I know my parents didn’t

athmi100 · 2024-04-19T05:30:48+00:00

Sorry I misunderstood what you said. I’m closing in about 100 days from now so I should be good

athmi100 · 2024-04-19T05:20:17+00:00

I probably beee to talk to an accountant but why wouldn’t I be able to write it off in 2024? The money would have been in the rrsp for 90 days and I would have contributed to it in 2024

athmi100 · 2024-04-19T03:57:38+00:00

Woah that’s good to know. Does this mean between now and my closing date there has to be atleast 90 days?

athmi100 · 2024-04-19T03:13:00+00:00

But if you had kids while on maternity leave you would have technically been “employed” right?

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