Comments on: Madness or Supply? Canadian Real Estate Prices Don’t Add Up: BMO https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/ Canada’s Fastest Growing Real Estate News Source Wed, 23 Feb 2022 18:42:50 +0000 hourly 1 By: Mike https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80668 Wed, 23 Feb 2022 18:42:50 +0000 https://betterdwelling.com/?p=19711#comment-80668 Have mixed opinions on this article and the various comments, but I do totally agree that prices appear to have risen much more dramatically in smaller communities. To cite a real example, March 2020 we “purchased” in Stratford, Ontario, a 25 year old bungalow, three bedrooms, two car garage, needed refreshing, but overall great home, price $474k. No real competition either. In the end we had to back out of the purchase for personal reasons. So now we are back looking and we see, if you can find one, similar homes, some not as nice, all going over asking, blind bidding, hitting the $850k mark and higher. Newer and nicer turnkey bungalows in the area are going for $1.2million. Madness, greed, what is it? Supply-demand? Foreign residential investors? I fear the Liberal solution will be a home equity tax of some kind…… scary thought given current affairs.

]]>
By: Trevor https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80635 Tue, 22 Feb 2022 11:43:01 +0000 https://betterdwelling.com/?p=19711#comment-80635 In reply to Trevor.

And I was paying $80 for a sheet of 3/4” plywood.

Many people living with their parents or with roommates (some sharing rooms), and many of them are saying that there isn’t a supply issue… if they can’t see that isn’t the definition of a supply issue, I don’t know how else to get them to change their mind.

MSM and Trudeau misrepresents these protests, yet their supporters eat up everything their told. The queen is 95yrs old and is easily beating convid. This isn’t and has never been about a virus… if you have to question what this has to do with the article, you need to learn how to think.

Have a great 2022! It’s going to be awesome!

]]>
By: Trevor https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80634 Tue, 22 Feb 2022 11:36:11 +0000 https://betterdwelling.com/?p=19711#comment-80634 To ignore the shortage is silly…

We are more than half a million units short and growing.

Try to build a home now.. forget that try to buy a new vehicle. I did a simple Reno last year and couldn’t get 4” abs.

Look at the competition for rentals/purchases. Many people sold last year and are trying to get back in. These people have over $1m cash sitting collecting 0% interest, or in the market at all time price/earnings ratios. Landlords have been taken advantage over the past couple years resulting in less rentals on the market.

You can directly blame government… but many people get fed MSM and would rather blame a freedom supporter. The government is the issue.

]]>
By: Trevor https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80632 Tue, 22 Feb 2022 11:13:25 +0000 https://betterdwelling.com/?p=19711#comment-80632 In reply to Vishal.

Own a home, rent it out… at some point you will understand.

If you get a troubled tenant, it would be better leaving it empty.. they ruin it for everyone and there are many of them.

Plus maybe the owner wants to enjoy it while not away somewhere else.

]]>
By: Grim Reaper https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80609 Mon, 21 Feb 2022 19:20:00 +0000 https://betterdwelling.com/?p=19711#comment-80609 There is no housing shortage, just the detached single family type of housing is in high demand because that is what most people want. There are three 1,500 sq. ft very recently high quality renovated condos with 2 parking spaces each in the 10 story building I am in that are relatively reasonably priced compared to condos in other buildings very nearby and they haven’t sold since they were first listed over 3 months ago and re-listed at least twice.

]]>
By: Credit Guy https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80608 Mon, 21 Feb 2022 19:10:31 +0000 https://betterdwelling.com/?p=19711#comment-80608 In reply to ROBERT SEUBERT.

Most of their economic dept are separated from their risk dept. Most will agree with whatever’s best for the bank since greater bank growth means higher economic benefits through shares.

]]>
By: James Wilson https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80606 Mon, 21 Feb 2022 19:05:57 +0000 https://betterdwelling.com/?p=19711#comment-80606 In reply to erik.

Try springing for a subscription to Bloomberg . Similar takes behind the paywall, BD is the only news orgs that pays for the reports and then makes the memo’s key points free.

]]>
By: James Wilson https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80605 Mon, 21 Feb 2022 19:04:35 +0000 https://betterdwelling.com/?p=19711#comment-80605 In reply to ep.

It looks like it’s because you changed your name and then asked the same question. I doubt they’re sitting and waiting to block your comments in real time. WordPress or Akamai or whatever they use probably throttled you as suspicious since cosplaying as different people is, well, suspicious.

]]>
By: bob hutchings https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80584 Sun, 20 Feb 2022 19:28:29 +0000 https://betterdwelling.com/?p=19711#comment-80584 In reply to Trader Jim.

I agree.
Many issues are being ignored by the government. Monet laundering, investors and vacant homes are a few that need to be acted upon more severely. Theses 3 issues have caused the rise in prices more than anything else.
Oh, and let’s not forget about non – resident buyers that have bought far more than reported. The government has not kept it’s promise to put a 2 year moratorium on foreign buyers.
agent bob

]]>
By: bob hutchings https://betterdwelling.com/madness-or-supply-canadian-real-estate-prices-dont-add-up-bmo/#comment-80583 Sun, 20 Feb 2022 19:19:46 +0000 https://betterdwelling.com/?p=19711#comment-80583 Another point. Non-residents have bought up much more real estate in Canada than mentioned by government institutions. I have seen it on the ground working in real estate. It is just not being reported.
The government said they would put a 2 year moratorium on non- resident buying by this past January. They have not done so. I believe this is one of the main drivers of the 20 to 25% increases in price I have seen in many areas over just the past 2 months. Yes. 20 to 25% increase in 2 months. people from all over the world are trying to get in before the door is shut. Shut it!

]]>