Single mom, looking for apartments, budget is $1000

[Carvher]

It's just simply supply and demand.
Economics 101.

Build more dwellings! Slow our roll on immigration. Initiate policies to encourage people to move out of big cities. Attract business out of gta. Offices don't have to be in cities anymore.

Do the above and watch housing become more affordable.

Most importantly, we need a leader that understands economics and how it affects the average Joe. We have a virtue signalling drama teacher who only cares about how he looks on the news reels.

You get what you vote for.

 

[black booty lover]

If we limit small investors, why shouldn't we do the same for large institutional investors? Why should giant corporations swallow up all large rental building stock?

It's okay to own multiple units if you're a big corporation but not if you're a small investor?

There should be stricter laws there too.

I mean I obviously don't have all the answers, but if we want to have a middle class and a higher quality of life then a developing country, this shit needs to get figured out. Like I say, I'm not suggesting we become communist, but I do think there should be some measures put in place so middle income earners are not living in government housing.

Having all that said, maybe this shit will all works itself out as the crash that everyone has been fearing 25-30 years is finally starting to happen. Value of houses in Durham region are down 24% from last year, and it's not just Durham, but that's the biggest one for now.

 

[jsanchez]

Yeah and not trying to be prejudice, but some of these immigrants and cultures end up having like 7 or 8 adults living in the house paying it off.

No prejudice just simple math, a couple with a double income can't outbid or compete with a clan with 7 incomes

 

[johnd5050]

If anyone knows of any options - please do share!

Did your friend find a place to live ?
Seems like this has become a "housing problem solving" thread.

 

[richaceg]

No prejudice just simple math, a couple with a double income can't outbid or compete with a clan with 7 incomes

That's the loophole that gets exploited...there's no laws stopping that practice...like i said...when you have someone with 1mil sitting at home and you have good credit...2 units at a value meal deal is an easy investment....by the time the condo is built...those $500k is now $750k each...

 

[jsanchez]

That's the loophole that gets exploited...there's no laws stopping that practice...like i said...when you have someone with 1mil sitting at home and you have good credit...2 units at a value meal deal is an easy investment....by the time the condo is built...those $500k is now $750k each...

And that investor probably never sets foot into those units.

 

[Day2Day]

That's the loophole that gets exploited...there's no laws stopping that practice...like i said...when you have someone with 1mil sitting at home and you have good credit...2 units at a value meal deal is an easy investment....by the time the condo is built...those $500k is now $750k each...

and that's the problem. There is no investment, or adding of value here. Something is broken when the condo unit appreciates by 250K from prebuild to time of possession. It's dirty money. Yes, I know many don't care about whether the money the make is dirty or not...

 

[richaceg]

and that's the problem. There is no investment, or adding of value here. Something is broken when the condo unit appreciates by 250K from prebuild to time of possession. It's dirty money. Yes, I know many don't care about whether the money the make is dirty or not...

Like i said, I don't condone that practice but i've been hearing this being practiced...people with money don't care how they make more if they're within the confines of the laws...it's sad that this is happening but it's very tempting for people with $$$ to go into this...just simple math if there's a condo being built with an MSRP of 600k per unit...you have a guy with 1.8m and he orders 3 units....by the time the condo finishes...those units are probably going to sell a minimum of $800k...and he has the option of renting out - sell later...dirty or not...that's a chunk of ROI...

 

[johnd5050]

Like i said, I don't condone that practice but i've been hearing this being practiced...people with money don't care how they make more if they're within the confines of the laws...it's sad that this is happening but it's very tempting for people with $$$ to go into this...just simple math if there's a condo being built with an MSRP of 600k per unit...you have a guy with 1.8m and he orders 3 units....by the time the condo finishes...those units are probably going to sell a minimum of $800k...and he has the option of renting out - sell later...dirty or not...that's a chunk of ROI...

Capitalism at its best