The housing prices are kinda getting a bit fucked up thread

rollingsound

rollingsound

New member
Hi MR, listen, I know exactly why house prices are inflating. I have a lot of financial training/education/experience what have you. Still doesn't make me feel better about having to buy into an inflated market.

So this thread is for memes, examples of transactions that are on their face ludicrous, etc. People that you know that have no way of making their newly minted mortgage payment if rates climb to 2016 levels etc.

Might as well have a laugh.

Go.

Canadian home prices hit another record high in November, rising 11.6% year over year. Home prices are now inflating by more than 1% per month.
 
*VR6* said:
Kin, dans mon coin, 650k$ pour une petite maison plus qu’ordinaire avec 1 garage et 5k de terrain, dans un coin de marde qui n’est pas dutout représentatif de saint-lazare :laugh:

https://duproprio.com/fr/monteregie-ouest/st-lazare/maison-a-vendre/hab-1731-rue-des-cedres-871822

Je crois pas autant que c’est un prix covid mais plutôt un prix duproprio d’un propriétaire qui rêve en couleur!
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Lol, il y a 3-4 ans même à la moitié de ce prix là j'aurais trouvé ça cher.
 
Demain je vais voir un bi génération à 669 000$ à l’île Perrot. Ca fait des mois que je regarde 350-400k et il n’y a rien donc je vais considérer quelque chose avec un revenu.
 
Dans la presse ajd, pas mal vrai. C'est la tempête parfaite pour des.peiz.mongoles et mises en chantier élevées.

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Comment expliquer un tel score*? La générosité des gouvernements a fait augmenter le revenu disponible des ménages et les taux d’intérêt au plancher ont fait le reste.

Soulignons que les employés des secteurs économiques les plus touchés par les pertes d’emplois durant la pandémie (commerce de détail, services, restauration) sont plus rarement propriétaires. À l’inverse, les employés de secteurs peu touchés par les pertes d’emplois sont propriétaires dans une forte proportion.
 
While there are still foreign buyers the majority are actually locals. Think people our parents age are sitting on cash, for the most part lots of cash... Why not give you some of that cash now for a home at stupid low rates for the foreseeable future... It's not uncommon for parents to match a downpayment, think you have 10% saved but parents match 10%... Or 20% saved they match 20%.. 40% on a 600k home your mortgage payment isn't much and who cares if the rate goes up. All the bank needs is a letter saying "I so and so give my son/daughter this amount as a gift" here is proof of money
 
first time I ever hear about parents matching cashdown. WTF!

c'est quand même pas si étonnant que MTL explose, considérant les prix de Vancouvert et Toronto.
 
OPBX said:
first time I ever hear about parents matching cashdown. WTF!

c'est quand même pas si étonnant que MTL explose, considérant les prix de Vancouvert et Toronto.
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un graphique qu'on a partagé avec moi recemment. j'ai un peu lol qu'ils ont pris GRAM'BÉ

13-So-long-big-city-life-EN-e1607096394802.jpg
 
La maison a St-Lazare que VR6 a posté est crissement laide pour une 'designer' house.

SPAM the pouchon:

"Veuillez envoyer un rendez-vous à Gagan par téléphone au 514-562-5780 ou par courriel à l'adresse suivante: gmukkar1@hotmail.com pour prendre rendez-vous et pour tomber amoureux de cette superbe propriété pleine d'amour, de lumière et d'énergie positive."
 
OPBX said:
first time I ever hear about parents matching cashdown. WTF!

c'est quand même pas si étonnant que MTL explose, considérant les prix de Vancouvert et Toronto.
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Yes sir. One of my wife's best friend is a mortgage broker/ agent, oddly we didn't use her but wtvr. Yea she said it's super common these days for parents to give a massive cash gift for a home purchase. The reasoning for the letter is to prove where that sudden 70k or whatever came from. Not the first person I heard it from as well.
 
Débile ben raide, j'imagine quand les 2 enfants vont vouloir acheter une maison dans 25 ans ça va être juste impossible sans aide de notre part, du moins je veux pas qu'ils se ramassent à Granby.
 
Gregster said:
Yes sir. One of my wife's best friend is a mortgage broker/ agent, oddly we didn't use her but wtvr. Yea she said it's super common these days for parents to give a massive cash gift for a home purchase. The reasoning for the letter is to prove where that sudden 70k or whatever came from. Not the first person I heard it from as well.
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guess this is a cultural thing and not quebecois thing.
 
Setak said:
guess this is a cultural thing and not quebecois thing.
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Essentially yes. But the reasoning is valid. If I were in my 60s sitting on cash with good retirement income, living in a paid home .. I would 100% help my kids or kid out. However I would maybe take 1% share of ownership just to make sure no shenanigans happen

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I bought my grandfathers house. He gave us the down payment through gifted equity.

Evaluated at 375000, gave him 300k and he gifted us then75 in equity.
 
I wonder if the decreasing mortgage rates have anything to do with the increasing house prices.

Somebody would need to do some research on that. Oh wait.
 
Setak said:
guess this is a cultural thing and not quebecois thing.
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a few people I know and me included got help from their parents when they bought their first house in the last 24 months. Not in matching the down payment but helping a lot in having enought to buy it.

I mean if they can why not
 
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