I dont think you can blame the government for prices of housing. Maybe I'm wrong, but they can't have a lot of influence over such market forces as most of newfoundland moving to edmonton
I'm LEAVING Alberta !!!!
- Thread starter Jsan
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We've been transferred and will make the move to Edmonton in exactly one month. Yikes! And no, the gov can't be blamed because business decides Edmonton is a good hub to base out of. People found Calgary too whopping expensive, so business started looking for ner opportunities, and BAM, Edmonton ends up crazy busy. If you think 150-200 000 would get you a shack in Edmonton, you'd have another thing coming. If you want a crack den on a street full of hookers, you MIGHT be able to swing it for that kind of money. But below 280 000, that's pretty much all hubby and I could find. We settled for a shack (or what feels like one to us as a family of four) 1000 sq ft, needing to be gutted and redone, for the low low price of 316 000. Fun stuff.
I think the gov should assume control, it's only sensible as things get out-of-control...we need a gov that has some backbone...! The gov's should be regulating these issues - or somebody else will... or rather, the "dollar" sign will rule instead of the gov... In my opinion, that's not much of a government to speak of...how can you get Canadian people to become patriotic when they can plainly see that the gov just doesn't care about the quality of life for the people...?
So you think the government should step in and stop a market boom? Ha! That's absurd.
"Oh no, our economy is too healthy, we have to do something!!"
Markets are generally sef regulating, and for those people living within an economy who can't keep up, the gov has housing and welfare programs. While it stings to pay such huge cash for a home, I'd much rather that than have the gov step in and regulate it. Having sold my place here, I'd be PISSED if the gov decided to put a cap on how much profit I could turn, and I turned a hefty one.
Well, they're controlling "RENTS" here in Quebec, and they can do more... but, do they care...? And we're always complaining about the fact that Canadians are not patriotic... however, there's nothing wrong about complaining. Anyways, this is quite an issue, and on the other hand, the gov makes money - but do they make it so that "it" rules instead of them...?
I understand how one can be "pissed" about control, but how about the other that suffers abuse? I guess, there has to be a balance in all things. Is that too absurd to understand? Would you buy a pair of pants for the price of a Mercedes-Benz...? Does that make any sense? Is an economy "healthy" when people (in general) can't afford to live sensibly? Is it "healthy" to buy pants for that price? I know that might sound like a crazy comparison, but the so-called booming economies can bring lots of trouble...
I understand how one can be "pissed" about control, but how about the other that suffers abuse? I guess, there has to be a balance in all things. Is that too absurd to understand? Would you buy a pair of pants for the price of a Mercedes-Benz...? Does that make any sense? Is an economy "healthy" when people (in general) can't afford to live sensibly? Is it "healthy" to buy pants for that price? I know that might sound like a crazy comparison, but the so-called booming economies can bring lots of trouble...
What are "RENTS"? The quotations would imply it's slang for something, yet it seems you're talking about conventional rent. I'm confused.
And no, economies are generally self correcting, so I don't think the government needs to step in. If a person can't afford a house (why switch to pants when we're discussing housing?), then they don't buy it. If enough people can't afford the houses, then no one's buying, and the prices come down. But what's happening in Edmonton right now is that the wages and salaries being paid by the majority of companies are high enough that people CAN afford the houses. So they sell. Why would the government need to step in on that? If people can't afford it, they honestly don't have to move there.
Well, "rents" are for apartments and the example for "pants" was simply conveying a tiny message... when you buy something, then that product has a "value". If it's worth $100, then why should I pay $2000.00? Wouldn't you say, that's a steal...?! Even with control, a sensible "range" of profit can be made. My concern is for all, not just my personal "profits" per sale of my home.
Anyways, that's just my opinion. I think that "people" should play a role in our society and be concerned for one another. Everybody is out for the best "buck". I guess that will never change... no doubt.
Anyways, that's just my opinion. I think that "people" should play a role in our society and be concerned for one another. Everybody is out for the best "buck". I guess that will never change... no doubt.
if YOU think it's worth $100, you shouldn't pay any more. But OTHER people feel it's worth $2000, so it's worth that. Supply and demand.
People are concerned about a potential deflation of property values, particularly those who have bought in the last couple of years or are buying now. Putting in rent controls would guarantee it.
It's pretty simple economics. I don't pay $100 for pants, because I don't think any pants are worth $100. I don't go to high end stores, I shop cheap stores like Wal-Mart, Old Navy, and *gasp* Salvation Army. I don't feel clothes are worth what some people pay for them. So I choose not to pay that. I'm not about to get my panties in a bunch because I can't or won't pay what some other do for simple pants.
If I was unwilling or unable to pay 316 000 for a fixer upper in Edmonton, I wouldn't move there. I'd find somewhere else, something else. If Edmonton was the only choice, or if houses were the same price everywhere else, then the pay drawing me to Edmonton would reflect that. As it does now for the vast majority of people. *shrugs* It's not a matter of not caring for your fellow human, it's knowing that they are capable of thinking for themselves, and if they can't afford to live in Edmonton, then they shouldn't. Or, they can seek out a government program to help them out, because I pay a lot in taxes, to fund a plethora of social programs.
Quote:
"People are concerned about a potential deflation of property values, particularly those who have bought in the last couple of years or are buying now. Putting in rent controls would guarantee it."
Well, deflation is coming... on way or another - and what happens when you've paid $600 thousand for your new home and it deflates to $100,000? Somebody will stick a pin in your balloon one day - it's coming...through rent controls or something else... that's basically the core to what I was saying in the beginning. One day, people who made these investments will eventually lose... so is there anything sensible in it afterall? There is much "risk" involved when you purchase a house today.
Even though there are rent controls here in Quebec, the cost for buying homes just keeps soaring... it's insane...
"People are concerned about a potential deflation of property values, particularly those who have bought in the last couple of years or are buying now. Putting in rent controls would guarantee it."
Well, deflation is coming... on way or another - and what happens when you've paid $600 thousand for your new home and it deflates to $100,000? Somebody will stick a pin in your balloon one day - it's coming...through rent controls or something else... that's basically the core to what I was saying in the beginning. One day, people who made these investments will eventually lose... so is there anything sensible in it afterall? There is much "risk" involved when you purchase a house today.
Even though there are rent controls here in Quebec, the cost for buying homes just keeps soaring... it's insane...
Keeping the original post in mind...
Maybe, the best thing is to hang on to what you've got! The reason is, the banks still have the "same" criterion for accepting mortgage-loan applications. Ex: requires a certain salary range for a certain dollar range purchase for a home. What I was able to "afford" yesterday no longer applies today. I simply will not be able to make ends meet.
Ofcourse, those who can "afford" to make a choice thereafter, can move on and acquire a new ridiculously expensive home. I just don't see any personal satisfaction in paying that kind of money for a home, even if I can "afford" it. The whole "point" in this discussion, as far as I understand, is that the entire affair is directly related to your paycheck experience. This situation definately has a negative impact on the greater part of the population. Ofcourse, the wealthy will have their point of view.
For the enthused capitalists, they see no limit - because it's to "their" advantage. But they fail to realize that there is an "abuse" of capitalist opportunity... for those who want to abuse, - the sky is the limit... where there is no control, there is corruption.
Here is a glaring example of just how out of control Alberta's Real Estate prices have become. They recently did a survey of the cities that had the most expensive housing close to the downtown core. Of the top 10 most expensive cities in the WORLD we have 2 of them in Alberta. This is SHOCKING when you consider that Edmonton is nothing more than a large Industrial Zone with not much at all for a downtown. YES, our prices are out of touch with reality and I shudder to think what will happen if the economy cools and people start packing up and leaving like the last bust. It will not be pretty. Here's the "top 10" article highlight and link. And yes, Toronto and Montreal are now cheaper to live than Edmonton. I have this funny feeling that by the time I leave (hopefully soon), a heck of allot of other people will be joining me.
“Canada has six of the 10 least expensive and only three of the 10 most expensive housing markets surveyed for entry-level homebuyers working in the downtown business districts,” the report released Thursday said.
Canada’s two largest cities ranked near the middle, with Montreal, at $276 per square foot the 13th most expensive, and Toronto, at $209, at 16th place.
When comparing prices to sizes of the homes, the survey found that the 10 least expensive housing markets are St. John’s, N.L., followed by Quebec City at $93 per square foot, Istanbul $94, Halifax $97, Charlottetown $104, Sydney $105, Bogota $114, Mexico City $119, Moncton, N.B., $127, and London, Ont., $132.
The 10 most expensive were Paris, followed by Moscow at $688, Seoul $630, Vancouver $577, London, England $532, Calgary $500, Athens, $375, New York City $375, Tokyo $325, and Edmonton, $322.
http://tinyurl.com/yseroe
“Canada has six of the 10 least expensive and only three of the 10 most expensive housing markets surveyed for entry-level homebuyers working in the downtown business districts,” the report released Thursday said.
Canada’s two largest cities ranked near the middle, with Montreal, at $276 per square foot the 13th most expensive, and Toronto, at $209, at 16th place.
When comparing prices to sizes of the homes, the survey found that the 10 least expensive housing markets are St. John’s, N.L., followed by Quebec City at $93 per square foot, Istanbul $94, Halifax $97, Charlottetown $104, Sydney $105, Bogota $114, Mexico City $119, Moncton, N.B., $127, and London, Ont., $132.
The 10 most expensive were Paris, followed by Moscow at $688, Seoul $630, Vancouver $577, London, England $532, Calgary $500, Athens, $375, New York City $375, Tokyo $325, and Edmonton, $322.
http://tinyurl.com/yseroe
Come to Ottawa. the high tech sector is 'ok' as is the cost of living. There are some rent controls, but things seem to be returning to normal after a long spike. Good old moderate Ottawa.
Anyways, after consulting several real estate agents and examining home costs abroad in Quebec, most homes are well over the double-the-original-cost mark. It's getting closer to 3 times the initial amount... that's not cheap...every year it rises...
And generally, salaries here are NOT the same as Ontario or BC for example...to that, add the extremely high tax rates...nowhere else to be found...
I guess you have to look at the "whole" picture. Looking at a report in a column is what it is - a column. But the whole picture is defined by various factors involved that influence our lifestyle here. Afterall, let's face it, everybody knows that the tax rate in Quebec is higher than anywhere in all of North America. That has a tremendous impact...
The underlying point being that the salaries DO NOT FOLLOW the current trends...
And generally, salaries here are NOT the same as Ontario or BC for example...to that, add the extremely high tax rates...nowhere else to be found...
I guess you have to look at the "whole" picture. Looking at a report in a column is what it is - a column. But the whole picture is defined by various factors involved that influence our lifestyle here. Afterall, let's face it, everybody knows that the tax rate in Quebec is higher than anywhere in all of North America. That has a tremendous impact...
The underlying point being that the salaries DO NOT FOLLOW the current trends...
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At that's not all. You get condoms AND free hypodermic needles with those crack pipes. We ain't cheap, we can afford to go all out! Plus, you want to keep those junkies healthy and happy, the city does have an image to uphold.