>people complain about housing in toronto >there are thousands

>>1682073
>400k
what's that, $15k US?

>>1682073
>she will never use my face as her designated shitting street
why live?

>400k confo

Are you implying this is a good deal?

>>1682104
people are acting as if they will never be able to afford their own place

>drop 400k on a condo
>be subject to association fees that are basically just the same cost as rent
you must be retarded?

>>1682108
what percentage of the population can afford payments on a $400k condo (plus taxes, HOA fees, etc)? Probably less than 10%, perhaps?

400k will get you a cuckshed in Toronto

>>1682108
Median income in Toronto for a single person in 2014 was $22,900 ($100 above the median income of Canadians). A condo is typically one, two bedrooms? Just enough for a single person, maybe a couple.

Most people are going to rent. They are essentially paying the mortgage for someone else's property, the property tax, all the condo fees that go with it, etc. So you end up paying $2k a month to rent a shoebox. Good luck getting enough equity for a downpayment, ever.

More than half of your income is going to go towards housing. That's what makes it expensive.

And I'm not even taking to account the fact that a detached house within an hour long commute to downtown that isn't a complete ghetto is going to go for at least double. Anyone thinking that buying property in the GTA right now is a good idea must be fucking high or literally laundering money. There is no way in hell this is sustainable. The only silver lining is that dumb boomers are going to get fucked for their greed once they realize their kids can't buy their property.

That being said people have been doomsaying for years and years now, so everything I have said is completely fucking wrong. Better get into a another bidding war and overpay by 20-30% for a starter fucking home.

>>1682161
>once they realize their kids can't buy their property.
the problem is based on what you're describing the property buys itself.

you're not just buying the property, you're buying a turnkey business that will pay its own way. Your mortgage payment is $2k/month?
No big deal, you can get that in rents.

so the only barrier to ownership isn't income, it's credit. People with great credit will own property and increase in wealth. People with bad credit will rent property and bitch about it on 4chan.

which all seems pretty normal to me.

I pay $750/month utilities included for a furnished room that's a 3 minute walk from the subway. Toronto is not nearly as bad as people make it sound

>>1682180
Are your neighbors named Tyrone and Wong?

>>1682134
In america you get them for free

>>1682073
>400k
>more than 4X what I spent on my house in MI less than 300 feet from a lake, in a great school district
>wtf are you thinking canuck crazy man?!

>>1682073

400k for a condo? JC anon you can get a 4 bedroom 3 bath house in a nice neighborhood and school in the rich part of town for that much where I live

>>1682073
bait is too obvious yet tons of bites

>>1682176
yeah until the recession happens and people cant afford to pay your mortgage.

>>1682176
Sure, if you can deal with renter bullshit properties do pay for themselves. If you do a good job, it's no different than running a side business. But remember, there is an element of risk, and when you put all your eggs in one basket you can end up burnt.

And we all know what happens when you give amateur investors tons of leverage and funnel them towards a single product or sector. It's weed stocks all over again senpai.

Personally I'd rather invest in the stock market. It's much more diverse, there are ways to hedge your bets, there's a ton of benefits. You can even invest in REITs, which will hook you into real estate gains. The only thing is that you're not quite as tax advantaged and leverage, if you choose to use it, is much more expensive.

>>1682307
SHUT YOUR GUYFKVCING PIEFUCK

Please post a link to 400k condo. I dare you.

File: 1480589214155.png (40KB, 684x453px) Image search: [Google]

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>>1682073
the housing "bubble" is pushing towards meme levels i didnt think were possible. australia is pretty fked right now, unless you buy outside of sydney / melbourne in which case you're better off

>>1682073
A condo isn't a house.
A condo is inside a building you don't own situated on land you don't own. You own a room in a building.

A house is a building you own on land you own.
A house is

>>1682348
enjoy

https://www.zolo.ca

>>1682495
I think the plan is to import rich people from other countries to sustain meme bubble. Obviously the plan is flawed and meme bubble will collpase probably along with the world economy during its next cyclical hiccup.

When the US housing bubble popped last time some 'powers that be' restricted the housing market from being flooded by foreclosures thus sustaining prices at the cost of leaving many homes vacant amid armies of homeless people.

On thing is for sure, the world is a business Mr Beale and food, water and shelter are primary targets for big profits.

>>1683892
Post the nicest one you can find for 400k, and we'll see if you're full of shit or not :)

>>1682073
>paying 400k in Canadian pesos to own a part of a building on community property

>>1683940
https://www.zolo.ca/toronto-real-estate/18-valley-woods-road/1003

350k apologize.

>>1682680

Why the fuck do you need to own a house?

>400k for a depreciating asset

Condos are a terrible investment in Toronto. Condos are being built so fast that you're lucky if it will even appreciate in value in the long term.

The complaints are geared towards detached/semi-detached housing.

I don't think it's a meme. Supply isn't there but demand will be there from the Chinese until we ban them. Until the new generation has to leave entirely it won't die.

>>1683953
>Enter your email to see property
>Great! Now enter your credit card number, SIN, OHIP #, blood type, greatest fear, mother's maiden name, driver's license, and passport ID!

I don't bloody fink so.

File: AffordableTorontoHousing.png (951KB, 1849x595px) Image search: [Google]

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>>1683953
Oh wait a minute, how could I have been so naive! This is PRIME REAL ESTATE.

>>1684018
that isn't the location. if you want to go condo hunting in toronto you can find sub 400k condos easily they will only be 1 bedroom and ~800 - 1200 sq feet but they are out of there

>>1684033
It may have been updated, but I inputted the location into google maps, and it seemed to be in the middle of nowhere. At that point, why not live in Burlington, Oakville, etc.?

>>1682073
>condo

Because who the fuck wants to drop $280-400k on some little shit shed of a condo? I'll never buy a fucken house in Toronto because the retarded places. Fuck a condo idrather buy a house outside of Toronto(Ajax, Oakville, etc) and live in a house