Quote:
Originally Posted by VarBreStr18
since you make it look so grim buying into condo vs buy a house, wonder what is the future of condo market?
I love to hear people's opinion and their prediction. Anyone?
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Buildings wear out and get replaced, and new ones are added to the market.
IMO most of the new condos in the market are in very modern, often-highrise buildings, with appointed kitchen, A/C,the whole bit.
Like, if you're a developer, you want the most bang for your buck, and there's a real market opportunity with the overseas investment issue implied.
The real toughie here is the "trickle-down" effect, which keeps most home ownership, be it condominium or free-standing house, beyond the reach of people
who would probably be able to buy the equivalent more easily in other cities: Saskatoon, Winnipeg, maybe even Montreal.
Overall, I think that condo prices would not keep climbing forever, but stabilize at prices higher than most Canadian middle class families or even individuals cannot afford,
except by taking out a mortgage, a bit like grabbing a link on the anchor chain of some great ocean liner .......
Getting a starter home will, of course, difficult for people with middle incomes (except if mortgaged to the kitchen sink), and lower income earners who hold regular jobs, and will normally never be homeowners, but renters only, will be more dependant on
social housing on a larger and more widespread scale than now one hopes, and on off-mainstream rental opportunities,
perhaps laneway housing (?) though that seems to be getting a bit upscale, too.
That's an overseas (distant) perception, anyway.
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