Luxury waterfront property in Oakville ! | Page 14 | FerrariChat

Luxury waterfront property in Oakville !

Discussion in 'Canada' started by MS250, Sep 25, 2015.

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  1. Andrew D.

    Andrew D. F1 Rookie

    Jul 6, 2008
    3,979
    Goodwood Ontario
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    Andrew D.
    I very much agree its turning socialist. In the shorter turn, good for most. Half the population lives paycheque to paycheque.A lot of the rest save little. Thatchers famous quote about socialists " ..till they run out of other peoples money" will eventually apply.
     
  2. tantumaude

    tantumaude Formula Junior
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    Mar 3, 2016
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    Burlington, Canada
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    Mat
    Sounds like we're going to at last get an interest rate hike in the next short while. It will be interesting to see just how much prices in the GTA will fall.
     
  3. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
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    They've been saying that for a while now.....still waiting for that to happen.
     
  4. tantumaude

    tantumaude Formula Junior
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    Mar 3, 2016
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    Burlington, Canada
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    Mat
    Hey! Let me dream! ;)
     
  5. Andrew D.

    Andrew D. F1 Rookie

    Jul 6, 2008
    3,979
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    Andrew D.
    Normal interest rates are about 9%. All government got themselves into this mess of near 0 rates. There is no easy way out without much suffering.
     
  6. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
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    agree
     
  7. Skyler

    Skyler Formula 3

    May 31, 2004
    1,871
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    Skyler

    Zaius has been calling for the Canadian Apocalypse for a while now.
    "Loonie should be dropped to 30-40 cents" - Is this what fentanyl does to the body? lol

    Prices will correct when the banks curb lending. As you said, with record bank profits and the Fed-sponsored CMHC to bail out the non-payers, the free money is here to stay.


    I think we'll hit the bottom when the newspapers deem it too unimportant to report on sales numbers.. until then too many RE speculators playing the <what seems like a> Real Estate options market.
     
  8. MS250

    MS250 Two Time F1 World Champ
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    Dec 10, 2003
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    Can't say we didn't see this coming.

    Good thing it's a soft landing this summer. Still to soon to see how the year shapes up. As long as it's overall up from 2016 then 2017 can be seen as a success

    Average Canadian house worth $504,458 in June, down 10% since April - Business - CBC News

    https://www.thestar.com/business/real_estate/2017/07/17/home-sales-show-biggest-monthly-decline-since-2010.html

    Probably not good timing to raise the interest rate last week .25

    They could have raised the rate in feb .... Let's see what the next 3 months bring
     
  9. I.T. Guy

    I.T. Guy F1 World Champ
    Rossa Subscribed

    Jul 17, 2004
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    Jason


    Story of my life.
    Buy at the Top!!!



    Sent from my iPhone using Tapatalk
     
  10. Skyler

    Skyler Formula 3

    May 31, 2004
    1,871
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    May curb the FOMO over-bidding and far-out speculation, but with this low interest rate environment, I can't see the upward trajectory stopping. Maybe just at a single digit rate.
     
  11. Nuvolari

    Nuvolari F1 Veteran
    Owner Silver Subscribed

    Sep 3, 2002
    6,370
    Toronto / SoCal
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    Rob C.
    There is certainly some interesting things happening in the Ontario real estate market right now. I'm just sitting back cash in hand waiting.
     
  12. MS250

    MS250 Two Time F1 World Champ
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    That makes two of us .... I have kept my eye on a few that have not moved on their price yet. Interesting 90 days ahead, let's see what July numbers will be in two weeks good luck with your search Rob !
     
  13. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
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    I don't anticipate much change in the next 90 days
     
  14. MS250

    MS250 Two Time F1 World Champ
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  15. Nuvolari

    Nuvolari F1 Veteran
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    Sep 3, 2002
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    Rob C.
    As an active participant in the current market the feeling I currently have is one of a correcting market where property owners still have asking prices that are based on the higher pricing from a few months back. The days of the multiple offer 'date' are dwindling and more and more sellers are taking less than asking with no specific offer date listed. In addition I am seeing a rise in the number of properties that are not being closed on with multiple homes of interest being re-listed when they failed to close. Lastly property appraisals are bringing prices that are well down from April/May for the same property (I have a small data pool to draw from but the trend is consistent). Just one mans observations and take them for what you will.
     
  16. crazy canuck

    crazy canuck Formula Junior

    Jun 20, 2005
    426
    West Coast
    I don't have a horse in the Ontario RE game, but I can say that when BC brought in it's 15% Foreign Buyer Head Tax last year, things went dark for a bit , and now, a year later, prices are higher than they were before...

    Buyers went to the sidelines and Vancouver sellers just decided not to sell and wait them out...and sure enough the buyers came back, and continue to do so.

    The only casualty of the Tax was the premier and government that brought it in.
     
  17. FCat360

    FCat360 F1 World Champ

    Oct 17, 2014
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    Lam, Blama Lam
  18. gerritv

    gerritv Formula 3

    Jun 18, 2001
    1,400
    St Catharines
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    Gerrit
    I think you need to read the article again.
     
  19. tbakowsky

    tbakowsky F1 World Champ
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    Sep 18, 2002
    19,344
    The Cold North
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    Sales are low..but prices have not really dropped much outside of Toronto. I had committed to listing, however I pulled out at the last minute. Glad I did. My house is still worth the same, yet my buying power has increased. I now have more room for negotiation. Be that's as it may, I'm staying put for at least a year.
     
  20. I.T. Guy

    I.T. Guy F1 World Champ
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  21. MS250

    MS250 Two Time F1 World Champ
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    Congratulations sweet view! I'm sure it was a tad lower than when you first looked at it.

    How much extra were you able to Save from a few months ago, did you wear a mask when you put in the offer ;)
     
  22. I.T. Guy

    I.T. Guy F1 World Champ
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    Thank you. CN Tower and TO is directly at 12 o'clock, so great orientation too.

    I only "saved" 2.5%. Not much, but enough to say **** it, this may not come around again. When the doom and gloom hit the radio waves, we finally got a private deal done.

    I've been watching lakefront for a long time, 15 years. And even in the crash of 2008 lakefront didn't really drop. They just took a bit longer to sell. So I feel it's pretty safe at what I got into it at, especially when planning to hold for 40+ years!

    The only downside is now I probably should wait longer before buying a Ferrari.
    Maybe some of you are right: I'm never ever getting one!
    LOL.
     
  23. AceMaster

    AceMaster Three Time F1 World Champ

    Feb 6, 2009
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  24. I.T. Guy

    I.T. Guy F1 World Champ
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  25. AceMaster

    AceMaster Three Time F1 World Champ

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