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Housing Affordability in Canada

Homes are dropping in value in Newfoundland.

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Good time to buy in........and have some "Screech" after you settle in.

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calamity said:
I get how no one wants to live in the Territories or along the Hudson Bay, but there is still a ton of space available within the habitable zones: wide open spaces between Toronto and Ottawa, for example. And, I recall seeing nothing but forest and field up in Haliburton County (east of the Georgian Bay). Other than Halifax, Nova Scotia is virtually uninhabited. And, we may as well say that there is absolutely nothing from there to Montreal except a blip called Quebec City.

There is also virtually nothing for a 100 miles around Thunder Bay. And, even less east and west of Winnipeg. I don't get it. Is there a Canadian law against sprawl or something?
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That's what I mostly did - bought in small rural towns within commuting distance of the city I was working in. That's a little trickier near places like Vancouver, Calgary or Toronto where even rural areas are pricy if they're within driving distance of the city.
 
RetiredUSN said:
Homes are dropping in value in Newfoundland.

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Good time to buy in........and have some "Screech" after you settle in.

View attachment 67328954
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Newfoundland's population is declining which probably accounts for the reduction in house prices. The weather is harsh much of the year so it's not a retirement destination for anyone outside the province.
 
Allan said:
That's what I mostly did - bought in small rural towns within commuting distance of the city I was working in. That's a little trickier near places like Vancouver, Calgary or Toronto where even rural areas are pricy if they're within driving distance of the city.
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What's raw material like up there these days? Is a 2"x4"x 8' comparable to American prices?
 
Allan said:
That's what I mostly did - bought in small rural towns within commuting distance of the city I was working in. That's a little trickier near places like Vancouver, Calgary or Toronto where even rural areas are pricy if they're within driving distance of the city.
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Yeah, I used to try commuting into Chicago from a rural area. It was a nightmare. Eventually, I switched jobs and moved near one of the smaller US cities, and my problems disappeared. But, even here, housing prices are up. The average price in my Ohio village is now approaching $300K; 7% yearly increase, last I looked.
 
Allan said:
Newfoundland's population is declining which probably accounts for the reduction in house prices. The weather is harsh much of the year so it's not a retirement destination for anyone outside the province.
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I know..... I was putting in a shameless plug for the Island. ;)

The summers were not very warm at all, but the winters were a hell of a lot warmer than Alberta last time I was up there.
 
RetiredUSN said:
What's raw material like up there these days? Is a 2"x4"x 8' comparable to American prices?
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In Newfoundland a 2x4x8 is $6.48 USD.
 
RetiredUSN said:
I know..... I was putting in a shameless plug for the Island. ;)

The summers were not very warm at all, but the winters were a hell of a lot warmer than Alberta last time I was up there.
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Yeah Newfoundland is much warmer than the prairies in the winter.
 
calamity said:
Day-um!
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For a 1700 square foot house in Saskatoon the average price is around 450000. Depending on quality of course.

That would be 360 000 USD. You have to go rural and out of town for cheap housing now
 
Carjosse said:
How is anyone my age (early-mid 20s) suppose to ever be able to save up and buy a house or soon I imagine even a condo? When home prices keep increasing at 20% or more each year how is anyone who is not already in the property market supposed to enter? I have been reading a lot of articles how most millenials who are purchasing homes are doing it with the help of their parents money, what about those of us who don't have that? Now because of the pandemic nowhere is safe, even small towns are rapidly increasing in price. I have no idea how people are expected to buy a house, have kids, and somehow have enough money leftover to retire.

Something has to give and the government needs to intervene, the market needs to crash and it should be now before it gets worse. Ban foreign ownership, heavily tax and in some areas ban non-primary residences, heavily tax vacant residences, charge capital gains on home sales, half measures won't do anything.
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Immigrants. Canada has a higher share then America and the Canadian system ensures they will be ones with money.

Vancouver was once a distinctly English city, now the majority doesn’t speak English.

Because immigrants are essential to the electoral success of the left, nothing will be done about.
 
Allan said:
Newfoundland's population is declining which probably accounts for the reduction in house prices. The weather is harsh much of the year so it's not a retirement destination for anyone outside the province.
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At those prices I’d happily move to Newfoundland if I could.
 
Allan said:
That's what I mostly did - bought in small rural towns within commuting distance of the city I was working in. That's a little trickier near places like Vancouver, Calgary or Toronto where even rural areas are pricy if they're within driving distance of the city.
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But at least you’re in the first post national country, and have ethnic food so unaffordable housing is all worth it.
 
 
EMNofSeattle said:
But at least you’re in the first post national country, and have ethnic food so unaffordable housing is all worth it.
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What is a 'post national country'?
 
EMNofSeattle said:
Immigrants. Canada has a higher share then America and the Canadian system ensures they will be ones with money.

Vancouver was once a distinctly English city, now the majority doesn’t speak English.

Because immigrants are essential to the electoral success of the left, nothing will be done about.
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I lived in Vancouver for years. English is the predominant language, by far.
 
Allan said:
I lived in Vancouver for years. English is the predominant language, by far.
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I went and looked it up. There was a 2004 census report saying 52 percent of Vancouver residents had a first language other then English or French. As of 2016 it is 45%

Still high
 
calamity said:
I recall seeing nothing but forest and field up in Haliburton County
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I live in Haliburton which is mostly cottage country. The prices for our property prices have skyrocketed as people, especially retired people, look to move away from the larger urban areas. Our lake home has appreciated way more than our city townhouse.

There is a bit of a chicken and egg thing to what you say. There simply isn't the employment to attract new residential development and the infrastructure to attract sizable business does not exist. Transportation, schools, hospitals, broadband, etc are all based on population levels so businesses won't open in these areas and people won't move to places without jobs......chicken and egg.
 
Carjosse said:
How is anyone my age (early-mid 20s) suppose to ever be able to save up and buy a house or soon I imagine even a condo? When home prices keep increasing at 20% or more each year how is anyone who is not already in the property market supposed to enter? I have been reading a lot of articles how most millenials who are purchasing homes are doing it with the help of their parents money, what about those of us who don't have that? Now because of the pandemic nowhere is safe, even small towns are rapidly increasing in price. I have no idea how people are expected to buy a house, have kids, and somehow have enough money leftover to retire.

Something has to give and the government needs to intervene, the market needs to crash and it should be now before it gets worse. Ban foreign ownership, heavily tax and in some areas ban non-primary residences, heavily tax vacant residences, charge capital gains on home sales, half measures won't do anything.
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Earn more, spend less, same as always. Buy a smaller house, or a condo. Move somewhere less costly. Dont have kids. Govt intervention would just make things worse, but im not trying to tell you how to run your country. These are proven solutions that work anywhere.
 
jonny5 said:
Earn more, spend less, same as always. Buy a smaller house, or a condo. Move somewhere less costly. Dont have kids. Govt intervention would just make things worse, but im not trying to tell you how to run your country. These are proven solutions that work anywhere.
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Good advice. I would only add dont expect to get everything you want in your 20's.
 
All good advice and it worked in years gone by but housing prices really have reached levels that are unattainable for most young couples. As an example, we bought our condominium two bedroom townhouse, which is an hour and a half outside of Toronto, for 300K five years ago. It is now selling for 650-700K. That is out of reach for most.
 
EMNofSeattle said:
I went and looked it up. There was a 2004 census report saying 52 percent of Vancouver residents had a first language other then English or French.
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That doesn't mean they don't speak English.

EMNofSeattle said:
As of 2016 it is 45%

Still high
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Still not 'a majority don't speak English' which is what you claimed.
 
Callen said:
All good advice and it worked in years gone by but housing prices really have reached levels that are unattainable for most young couples. As an example, we bought our condominium two bedroom townhouse, which is an hour and a half outside of Toronto, for 300K five years ago. It is now selling for 650-700K. That is out of reach for most.
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But so what? Why should young couple be able to live somewhere wealthy?
 
jonny5 said:
what? Why should young couple be able to live somewhere wealthy?
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That's the problem, it's not a wealthy town. It's very middle class.
 
Allan said:
That doesn't mean they don't speak English.


Still not 'a majority don't speak English' which is what you claimed.
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If your mother tongue isn’t English you’re not an English speaker. I am not Hispanic merely because I can speak Spanish.
 
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