Canada's 'housing bubble' deemed close to bursting

[urbandreamer]

I did like Edmonton's Winnipeg-style tree-lined residential streets and neighborhood parks. Like Calgary, I struggled to find safe and clean public washrooms. Randomly, I felt at home here:
https://imgur.com/a/7mIcVVd

[Drybrain]

Originally Posted by Wigs

I could understand if the Calgary economy is doing significantly better than Edmonton. Having lived in Calgary for 5 years (and visited Edmonton 4 times), I really don't think it has a huge advantage besides better airport connections, closer access to mountains and an inner city in better shape with higher population.

Those are not insignificant, though. (Though in fairness most population growth in both cities is greenfield suburban, and I imagine the average resident isn't overly concerned about the quality of downtown.)

[Coldrsx]

https://www.cmhc-schl.gc.ca/en/professio...erm=bc3085c2-88e8-4438-98d7-b8bc04276aee

[whatnext]

No bubble here, for just $15.888 million (so many beautiful 8s) this explosion of bad taste can be yours in Vancouver:

https://www.realtor.ca/real-estate/24989070/1487-minto-crescent-vancouver

[Coldrsx]

那个好漂亮

[Pavlov]

Originally Posted by Coldrsx

https://www.cmhc-schl.gc.ca/en/professio...erm=bc3085c2-88e8-4438-98d7-b8bc04276aee

Stumbled across this chart. As soon as I saw it, I knew I had to post it in here because it will likely cause a shitstorm, and I like that sort of thing.

Downtown population density per square kilometre in 2021:
Vancouver
18,837

Toronto
16,608

Montréal
8,367

Calgary
7,778

Hamilton
6,939

Ottawa
6,847

Halifax
6,237

Winnipeg
6,102

Victoria
5,709

Québec City
5,673

All primary downtowns
5,385

Windsor
5,004

Edmonton
4,845

Trois-Rivières
4,197

SOURCE: Statistics Canada (via https://livewirecalgary.com/2022/02/16/data-2021-census-calgary-population-growth/)

[lio45]

Originally Posted by whatnext

No bubble here, for just $15.888 million (so many beautiful 8s) this explosion of bad taste can be yours in Vancouver:

https://www.realtor.ca/real-estate/24989070/1487-minto-crescent-vancouver

I was interested until I noticed the address contained a 4, which is a solid deal-breaker. Pass!

[Wigs]

Originally Posted by lio45

I was interested until I noticed the address contained a 4, which is a solid deal-breaker. Pass!

Even Gaudí himself would say these homeowners lack taste

[lio45]

The indoor pool is pretty nice, actually

I was going to say someone's making nice profits since it last sold six years ago for less than a third of what's currently asked, but then realized the house was apparently built three years ago, the 2016 transaction was land value only and then that buyer had to pay whatever it cost to get that thing built (millions, no doubt).

[whatnext]

Originally Posted by lio45

The indoor pool is pretty nice, actually

I was going to say someone's making nice profits since it last sold six years ago for less than a third of what's currently asked, but then realized the house was apparently built three years ago, the 2016 transaction was land value only and then that buyer had to pay whatever it cost to get that thing built (millions, no doubt).

With or without the faux classical statuary? Any why is there a mural of the Venetian canals beside the pool? Who on God's Green Earth wants to swim in the Venetian canals?

[Wigs]

Originally Posted by lio45

The indoor pool is pretty nice, actually

I was going to say someone's making nice profits since it last sold six years ago for less than a third of what's currently asked, but then realized the house was apparently built three years ago, the 2016 transaction was land value only and then that buyer had to pay whatever it cost to get that thing built (millions, no doubt).

I like the theatre room as movies are supposed to give one's mind a temporary escape/retreat.

The pool if you de-Venice-ify and get rid of the tacky statues possibly

[swimmer_spe]

Originally Posted by whatnext

No bubble here, for just $15.888 million (so many beautiful 8s) this explosion of bad taste can be yours in Vancouver:

https://www.realtor.ca/real-estate/24989070/1487-minto-crescent-vancouver

The property taxes are close the the national average annual income.

[someone123]

Originally Posted by lio45

I was interested until I noticed the address contained a 4, which is a solid deal-breaker. Pass!

We're past the peak, likely 2016 or so, but there was a time when you could travel through the city passing by dozens of Chinese language only for sale signs and then read on SSP that foreign buyers were having no material impact on the market.

[Wigs]

Originally Posted by swimmer_spe

The property taxes are close the the national average annual income.

I saw that!

[SignalHillHiker]

My first ever-so-slight hint of buyer's remorse. There is a house for sale less than a block uphill but a couple of blocks east of me. It's $109K, and it isn't as good in any way as my $167K one, but it sure as fuck isn't $60K worse.











I assume the issue is it's attached to the neighbourhood local, Peter Easton. It can be a bit of a spot...

A busy night:

• Video Link

A regular night:

• Video Link

But that sort of thing doesn't bother me at all. I could've probably made every improvement that was done to mine pre-purchase, and every improvement I've done since, for well under the $60K difference. Only downside is being further from downtown (uphill), no parking whatsoever (you can't park on the street in front of this house, and it has no driveway, so you get a parking pass for the nearest area), and no view.

[Wigs]

If I had the money to spend on $10M-15M properties, this is more my style (although even if I won Lotto Max I'd still live modestly and not go crazy)

Pickle ball court doubles as ice rink (every stereotypical Canucks dream)

https://www.realtor.ca/real-estate/24435384/472-gage-street-niagara-on-the-lake
The level of pretension in these videos is hilarious
• Video Link

[SignalHillHiker]

Originally Posted by Wigs

If I have the money to spend on $10M-15M properties, this is more my style (although even if I won Lotto Max I'd still live modestly and not go crazy)

Pickle ball court doubles as ice rink (every stereotypical Canucks dream)

https://www.realtor.ca/real-estate/24435384/472-gage-street-niagara-on-the-lake

Nice. If I had the kind of money that could get me anything...

I'd struggle to leave this lot (house is what it is, but the location is perfection to me, backed onto a downtown park with "skyline" views but no need to even have window coverings on the whole backside of the house).

But it would be nice to have something like this...

https://www.realtor.ca/real-estate/24507517/38-outer-battery-road-st-johns

[Wigs]

SHH, looks like a great NFLD retreat! cheers b'y

[Arrdeeharharharbour]

Annual property taxes: $861.00!!!

[Architype]

Originally Posted by whatnext

No bubble here, for just $15.888 million (so many beautiful 8s) this explosion of bad taste can be yours in Vancouver:

https://www.realtor.ca/real-estate/24989070/1487-minto-crescent-vancouver

We know why the 8s are there. Here's proof that it actually exists, it's paying dearly, but it has a nice poolside cabana/guesthouse (?) & garage. This is Vancouver's most prestigious central area, a mere 10 minute drive (about 4 km) from downtown. https://goo.gl/maps/brtJ6X8tB6B4m1WeA

Originally Posted by Pavlov

Stumbled across this chart. As soon as I saw it, I knew I had to post it in here because it will likely cause a shitstorm, and I like that sort of thing.

Downtown population density per square kilometre in 2021:
Vancouver
18,837

Toronto
16,608

Montréal
8,367

...

SOURCE: Statistics Canada (via https://livewirecalgary.com/2022/02/16/data-2021-census-calgary-population-growth/)

Is Vancouver higher because it has a more residential oriented mix?