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Re: Alright you Canadians
Posted by James [Email] (more from James) on Thu, 25 Nov 2010 08:39:28
In Reply to: Alright you Canadians, No Snaab, Wed, 24 Nov 2010 20:51:19
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Yeah, in my neighbourhood, $500k gets you a building lot or a small post war bungalow. Developers have been calling owners of smaller homes offering them that much to sell (construction industry has had it good the last few years as well around here). I have friends trying to move up in size while staying in their old, central, 1920's era neighbourhood. They were outbid by $90k, in spite of significantly overbidding themselves (on a house just under $700k list price). I would describe the house as a nice, moderately sized old home (2000-2200 sq ft), unrenovated inside (and largely due)... efforts are often made to start a bidding war with 1 week of showings (or less) followed by a bid deadline, with the selling realtor attempting to coerce potential buyers to sweeten bids etc... it's nuts... the value of our property has steadily risen throughout the recession (but we live in a hot area)...
all in all though, the economy here is not so bad: we weren't hit as hard as the US (though we are always affected by trouble south of the border), largely because of a better regulated banking system. The housing market didn't tank as bad, largely because the banks weren't allowed to take as big risks on the mortgages. For a few years, there were some 0% down 40 year mortgages allowed, but that has been tightened up again + the number of those mortgages were more limited (and probably more common in Toronto than elsewhere)... that said, young buyers are less conservative and are taking on more than they should + the sellers moving up can therefore afford to bid more as well.. imho, 10% down 25 year term should be the minimum, but I'm old fashioned...
wrt healthcare, it isn't free, we pay for it with our taxes... but it works out pretty well in the end, aside from some longish wait times. No need to have private health insurance (and all the problems associated with that) or face the horrendous bills for a US hospital stay. I suspect the cost to deliver health care here is cheaper than in the US, partly because salaries are lower, as are lawsuits...
all in all I think the balance we have up here isn't bad... we pay a little more tax than Americans, but I think we get decent value for that money... all just imho of course...
James...
posted by 216.59.228...
Posts in this Thread:
- Alright you Canadians, No Snaab, Wed, 24 Nov 2010 20:51:19
- I thought this would be about two Thanksgiving holidays, MI-Roger
, Sat, 27 Nov 2010 10:54:30 - what gives? low interest rates ..., Trev, Thu, 25 Nov 2010 14:10:21
- Echo bubbles, Reality, Thu, 25 Nov 2010 09:51:35
- while I partially agree..., James, Thu, 25 Nov 2010 19:04:42
- Re: while I partially agree..., Bill Homer
, Fri, 26 Nov 2010 07:46:32 - Re: while I partially agree..., Reality, Thu, 25 Nov 2010 20:27:19
- Re: while I partially agree..., James, Fri, 26 Nov 2010 08:32:49
- Re: while I partially agree..., Reality, Fri, 26 Nov 2010 10:16:04
- Re: while I partially agree..., James, Fri, 26 Nov 2010 12:15:02
- Re: while I partially agree..., Reality, Fri, 26 Nov 2010 13:10:00
- buyer encouragement..., James, Fri, 26 Nov 2010 16:41:53
- Re: buyer encouragement..., Reality, Fri, 26 Nov 2010 18:17:47
- left vs right, James, Sat, 27 Nov 2010 09:02:34
- Multi-Dimensional, Reality, Sun, 28 Nov 2010 17:45:48
- balance + the Nolan chart, James, Mon, 29 Nov 2010 08:58:56
- Re: balance + the Nolan chart, Tim, Mon, 29 Nov 2010 19:18:09
- I'll guess I'll bite one last time I guess..., James, Tue, 30 Nov 2010 03:53:50
- I was listening to the same NPR segment on Monday, Reality, Thu, 2 Dec 2010 22:42:27
- a different angle..., James, Sun, 5 Dec 2010 03:50:31
- NPR?, James, Sat, 4 Dec 2010 15:07:16
- Re: NPR?, Reality, Tue, 7 Dec 2010 15:30:17
- Re: NPR?, James, Wed, 8 Dec 2010 11:36:49
- Re: Alright you Canadians, James, Thu, 25 Nov 2010 08:39:28 <-- Viewing This Message
- Re: Alright you Canadians, JohnA
, Thu, 25 Nov 2010 07:43:14 - Re: Alright you Canadians, gilbertb, Thu, 25 Nov 2010 07:15:06
- Same down here in Australia..., sab, Wed, 24 Nov 2010 21:32:32
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