Hein? : "Buy now or risk saying bye-bye to affordable Montreal home ownership"
- Thread starter rollingsound
- Start date
So let me get this right: Our politicians don't want to cash in on increased property values and associated taxation?
You don't think Coderre would love to balance his budget off an increase in municipal tax revenues?
Pandering to foreign investors to bolster his party's coffers and bankroll his re-election campaign?
hotice_
Well-known member
Chinese buyers are already snatching up the mid-upper end segments all over Westmount & TMR.
The foreign tax in Vancouver and Toronto WILL have an effect in Montreal, just not as crazy as it did there due due the cultural differences in Quebec.
These Chinese buyers buy most of the time to have their kids go to university and have a place to stay when they visit (in addition to park capital in a democratic relatively safe environment compared to home). Therefore, Montreal will see an uptick in activity as they get limited in Van & TO. When foreigners from all over the planet think of elite universities in Canada, 3 come to mind, UBC, UofT & Mcgill.
Look at the statistics and we already see upticks in those upper end anglophone enclaves on the island. This has a ripple effect as francophones who might have bought in TMR/Westmount will now start looking at Outremont & other areas.
I dont think we'll see the crazy 1M+ median prices from SFH in Vancouver & Toronto but we will see an uptick in the most desirable real estate properties. The article is sensationalism at its best but there is a little bit of truth. In the near-mid term, those who wait might get sidelined. Nobody knows how the market will go though..or else we'd all be rich.
The foreign tax in Vancouver and Toronto WILL have an effect in Montreal, just not as crazy as it did there due due the cultural differences in Quebec.
These Chinese buyers buy most of the time to have their kids go to university and have a place to stay when they visit (in addition to park capital in a democratic relatively safe environment compared to home). Therefore, Montreal will see an uptick in activity as they get limited in Van & TO. When foreigners from all over the planet think of elite universities in Canada, 3 come to mind, UBC, UofT & Mcgill.
Look at the statistics and we already see upticks in those upper end anglophone enclaves on the island. This has a ripple effect as francophones who might have bought in TMR/Westmount will now start looking at Outremont & other areas.
I dont think we'll see the crazy 1M+ median prices from SFH in Vancouver & Toronto but we will see an uptick in the most desirable real estate properties. The article is sensationalism at its best but there is a little bit of truth. In the near-mid term, those who wait might get sidelined. Nobody knows how the market will go though..or else we'd all be rich.
hasn't the city of montreal run a surplus the past 2 years?
SolTNutz
New member
The language laws and political uncertainty are keeping some business and people away. Not saying there will not be a housing increase but nothing like Toronto and Vancouver.
Ça dépend du coin.... Je ne connais pas la Rive-Sud, mais j'habite à Laval à 10 min du Pont Papineau et MTL. J'ai payé ma maison 287000 il y a 3 ans.... Je ne me voyais pas acheter un condo à l'extérieur de l'Iles de MTL à 300k disons et bien entendu, une maison équivalente dans le MTL (Centre) était minimum 150k de plus. Notre plan #1 était l'Iles de MTL, mais deux jeunes professionnels sortant de l'école ne peuvent pas se permettre une hypothèque de 550k et continuer à vivre...
Ma femme travaille à la SQ (Partenais)
Je suis mobile un peu partout, mais je travaille depuis 2 ans dans le centre-ville de MTL
Nous avons rarement eu des grosses épisodes de trafique qui nous a demandé plus de 50min de voyagement. J'ai des amis qui habitent RDP et qui travaillent dans le centre-ville et ça leur prend le même temps ou sinon plus.
Si j'étais toi, je devancerais mon plan d'acheter une maison... Les prix ne feront que monter.
windex
Active member
+1. Ma fiancée et moi on a fait la même chose. On voulait l'Ile de Montréal, on a regardé notre budget et ça nous emmenait loin dans l'est (je suis allergique à l'ouest de MTL), assez loin que le transport en commun prenait plus d'une heure vers le centre-ville (pour ma copine).
On a acheté à Pont-Viau à Laval. 20min de marche pour se rendre au metro Cartier. École à proximité. Garage, terrain, la sainte paix. Oui, la maison a 60 ans et nécessite des travaux, mais je suis chez moi.
En 4 minutes (chrono) je suis sur le pont Papineau OU Viau.
Dans mon coin, les prix montent graduellement, mais ya encore moyen de trouver des bungalows pas trop rénovés aux alentours de 300 000$. Trouve ça à Mtl à 20min à pied d'un métro lol.
theoutsider
New member
Tes sur le pont en 4 min oui lol....pour te stationner!! 
250Rocket
Well-known member
If you're not in the market to buy immediately just make sure you have a place to rent that you wouldn't mind staying for a few years. Unlike Toronto (not anymore) we have strict rent control so you're safe renting. When the bubble bursts you jump into the market for pennies on the dollar.
But honestly you can rent for next to nothing these day, why buy?
But honestly you can rent for next to nothing these day, why buy?
Broody
Well-known member
Et un autre 20-30 minutes pour le centre ville une fois le pont passéTes sur le pont en 4 min oui lol....pour te stationner!!
bovi.prelude
Legacy Member
Le Quebec, belle place pour t'empêcher de bouger parce que ton argent vaut fuck all ailleurs. Pas pour rien qui nous taxe en imbécile. On a de la misère à s'acheter une chèvre ailleurs avec notre CDN$ et salaire du Quebec.
theoutsider
New member
ya deux villes pour faire un peu de cash, Mtl, et Quebec. Tout ce qui est proche est pas achetable. Le reste pas voyageable. go figure.
SolTNutz
New member
Because after renting for 20 years you have nothing, if you buy you have a house probably worth double what you paid.
*VR6*
Well-known member
Not totally true, after renting for 20 years you have plenty of money that didn't go into a house. There's pros and cons for both options.
Pas voyageable si tu n'es pas a proximité de ton lieu de travail ou transport en commun... C'est ainsi partout dans les métropoles internationales.
windex
Active member
Tes sur le pont en 4 min oui lol....pour te stationner!!
Nope! Si tu pars à l'heure des soccer moms (7h35-7h45) oui tu vas être jammé.
Quand tu pars à 6h00-6h30, top 6h45, le pont Viau n'est pas congestionné. Ça ralenti à HB, puis vers Crémazie. Sans blague, de chez nous à la job (Anjou coin 25 et 40) ça prend 20-25minutes.
Partir du plateau à 6h45 ça prend le même temps, même plus dépend des *sti de lumières du plateau, chrono à l'appui avec un collègue.
Te déplacer à Montréal, dès que tu traverses plus de 1 quartier, c'est minimum 15 minutes.
m_falafel
New member
180 000$ (petite) maison novo-climat 2008 garage séparé et plus gros que la maison a peu pres 26x30'et 115 000 pieds carrés de terrain. Dont la moitié encore en foret avec des p'tites trails et un ruisseau.
Ah, pas de musulmans, de traffic ni de smog. La seule affaire qui gosse c'est les harleys pis les wanna be Lance Armstrong qui roulent en plein milieu du chemin parce que j'habite sur une route de campagne...
À 20 min du centre-ville de Sherbrooke. Haters gonna hateeee.
Ah, pas de musulmans, de traffic ni de smog. La seule affaire qui gosse c'est les harleys pis les wanna be Lance Armstrong qui roulent en plein milieu du chemin parce que j'habite sur une route de campagne...
À 20 min du centre-ville de Sherbrooke. Haters gonna hateeee.
250Rocket
Well-known member
This.
@SoITNutz. I did a quick calculation and in city taxes and condo fees alone I pay off 4 months of rent. It's like living mortgage free for 4 months. All 5 appliances are included and if they break down the owner has to pay for new ones. Any problems I call and someone comes to fix it for free. There are lots of ways I'm not paying as much as an owner would and I save that extra money.
The key in renting long term is to save and invest diligently. The average appreciation on a house is 4-6% per year. Invest that extra money in various ways and you'll probably get 5-10% on average and I'm being modest.
The only losing situation is if you rent and don't save then yeah, I agree with you, at the end of 20 years you're broke and still have monthly payments for the rest of your life.
The only factor you have to consider is the personal satisfaction of owning a home. There's an intrinsic value to that that you can't pop into a comparison formula.