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#10553038 - 03/07/24 03:33 PM Re: dat real estate v.2021 [Re: Big Tasty]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 44893
that's amazing

Speaking of real estate, i just lost in a bidding war on this property.

Probably one of the nicest renos I've seen in a while, definitely over renovated for the neighbourhood, but damn was this place top notch. Guy had a b7 RS4 in the garage too.

https://housesigma.com/bkv2/landing/root...um=desktop&ign=

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#10553324 - 03/08/24 11:41 AM Re: dat real estate v.2021 [Re: Risky Business]
Simon_the_Pieman Offline
Post Master Sr


Registered: 08/13/01
Posts: 9472
Loc: The A
yeesh beauty renos
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020

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#10578999 - 05/22/24 10:22 AM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9488
Loc: Toronto, ON
https://finance.yahoo.com/news/bank-regulator-canada-warns-housing-144333249.html

 Quote:
Bank Regulator in Canada Warns of Housing-Payment Shock by 2026
Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans renew.

The “payment shock” faced by some borrowers is among the most important risks currently in the financial system, according to the latest risk outlook from the Office of the Superintendent of Financial Institutions, released Wednesday.

The regulator said that 76% of outstanding residential mortgages as of February will be coming up for renewal by the end of 2026. Most worrisome are the 15% of mortgages that have variable rates with fixed payments. Some of those loans are negatively amortizing — that is, the regular payments no longer cover the full interest costs because rates have gone up so quickly, so the principal balance is increasing.

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#10579166 - 05/22/24 12:45 PM Re: dat real estate v.2021 [Re: furball]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 44893
Same song and dance as every year.

Sellers in the GTA have proven resilient and buyers are still out there. There is going to be no shock when people have 2 years to do something about their renewal. I've already sold a couple properties where people were starting to drown.

Market is very much trading sideways now like it was in 2023, more or less this is our crash, rather than the annualized 8% appreciation we've been spoiled to see for the last 16 years.

Parts of Markham at all time highs, same with parts of Durham, the only real part of RE that's really in the shitter are downtown condos (commoditized units), the nice ones are still moving.

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#10580871 - 05/27/24 02:44 PM Re: dat real estate v.2021 [Re: Risky Business]
LNXGUY Moderator Offline
Post Master Supreme


Registered: 08/06/00
Posts: 107059
Loc: Barrie, Ont,
Not looking forward to 2025 and my renewal.
_________________________
-Bill
The GN would OWN you, your children and your children's children.
'09 E90 335d

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