Uhm....yeah. OK.
I live in Regina, Sk. where a rathole for rent is a $1000.00/month, and a
nice place in a nice neighbourhood can be twice that and much more...&
FYI, Regina has a rental vacancy rate of about 1/2 of one %, and has been
like that for a few years now.
Assume a new built home is a "minimum" of $200,000.00 easily, and that's
being very conservative. I haven't seen a 500sq.ft. home built in my lifetime
either, other than some tiny condos which go for large dollars. A newly built
no frills cookie cutter home that's tiny on a 25ft lot would still exceed $200,000
by far.
I live in a 980sq.ft. home, and it's about 50 years old, and its last appraisal
put it at being worth $260,000.00 just for perspective. A new 2000-2500sq.ft.
home in this city is an easy (and being very conservative) $400,000.00....and
most likely much more than that, but lets use this number for the sake of
debate.
A couple, each working for $12/hr full time, for a combined
gross of monthly
of a little over $4000.00 per month....paying 30% of that would be about $1200
for their rental on your plan (the 30% would be of the
gross income, right?).
To break even on $400,000 with no interest what so ever, would take over 27
years, and that's with zero profit and the origional investment tied up for over
a quarter of a century. Assume a mortgage (borrowed money) of 5%/annum
or so and that would double
the time to just recoup the origional investment
to
a bit over 1/2 a century...and that's not factoring in upkeep & upgrades....
The population of Canada is something like 34 million or so, and your goal is
to have almost 1/3rd of the total population of the country in public housing?
Quote: Originally Posted by NewGlobalOrder
My goal is to have at least 10 million people part of public housing. Now say if the average rent was $500 per month, that would equal $5 billion per month, $60 billion per year, minus operating costs.
This would fall into the catagory of "so what?" in a bleeding money financial
wound. Really, you give me $100, & I give you back $1.80/yr for the next 55
years (or make that 15 cents/month = the same thing), minus operating costs,
and that's your plan using similiar ratios boiled down to understandable #'s,
not confusing the issue with dollar figures in the billions.
Quote: Originally Posted by NewGlobalOrder- The new CMHC program will work like this: cities will give up the land needed to build the housing, and run the housing program. Why? Because each city will have their own housing needs, something a massive federal bureaucracy cannot understand. But there will be conditions that all buildings must meet, like environmental standards.
Give up? Like, as in "give away?" Really? I'm having a problem picturing
that happening. The city here turns a good coin selling lots, both infill and
new plots in what where grain fields (or muskeg) the year before.
Quote: Originally Posted by NewGlobalOrder- The federal government will provide the funding, and the profits from housing will be shared 50/50.
The Fed's will profide the funding from where? What profit will be shared 50/50?
There is not profit that I'm seeing, but a monstous sinkhole of debt, and will that
be split 50/50?
Quote: Originally Posted by NewGlobalOrder- These buildings will have commercial retail space on the ground level, which could possibly take up more floors, depending on a city’s needs, and apartments for single people, seniors and families.
Sorry Brother, I just caught this last sentance above, as its meaning just
sunk in for me. You're planning of builting government tenament buildings.
I was picturing "houses," as in "housing." My bad.
Nothing but apartments over retail outlets. Got ya'. A 2000-2500sq.ft.
apartment/condo (in new construction) goes for over a million dollars in
this city. I just don't see how this is going to benifit anyone by bankrupting
the nation. What am I missing?
Hell, a two bedroom basement suite in this city rents out for around $1000.00
a month. Check this out:
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