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  #1361  
Old Posted Feb 19, 2014, 1:38 AM
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Originally Posted by lio45 View Post
To be fair, Winnipeg and Thunder Bay deserve credit for being the exceptions.
Thunder Bay talks about dry winters and mild summers with lots of sun.
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  #1362  
Old Posted Feb 19, 2014, 2:00 AM
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Originally Posted by lio45 View Post
What I find fascinating is that EVERYBODY considers THEY have the best weather.



SW BC -- "I couldn't live without mild winters, I don't know how you poor guys handle it, freezing to death... And our summers are decent. Clearly we have the best overall climate. As proof, see how everybody wants to come here for that."

BC interior -- "Winters in the rest of Canada are just too cold, ours are acceptable, and I need the dry and hot summers that we have, it's just perfect... Best summers in Canada, decent winters."

West half of the Prairies -- "We need the sun, our summers are warm and dry, and sunny, and when it gets cold it's dry cold, I couldn't stand the humidity of Ontario or the rain of BC... ugh, horrible."

Southern Ontario -- "I want hot summers, including hot summer nights. I want hot temps to maximize pool/beach days. Our winters are decent, second only to BC where we couldn't even live anyway -- cool summers, yuck."

Four seasons area (Ottawa, Quebec, NB) -- "I need the four seasons, love our hot summers and reliable winters, I couldn't live in a boring one-season place, rainy BC winters, grey skies, how awful. And Prairie winters are just too cold."

NS -- "I couldn't stand so much snow and cold, our mild temp year-round is the best... enjoyable summers, bearable winters (kinda like SW BC, in terms of argument)."

Newfoundland -- "I want cool summers, mild winters, tons of fog, and rain. I wouldn't feel home, otherwise."





To be fair, Winnipeg and Thunder Bay deserve credit for being the exceptions.
I love this assessment! You have all our numbers, lol!
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  #1363  
Old Posted Feb 21, 2014, 12:54 PM
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Well, according to Russia you can buy a cottage on the edge of Ottawa for $20k, so I guess the bubble there's burst.
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  #1364  
Old Posted Feb 21, 2014, 10:54 PM
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Wrong thread...
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  #1365  
Old Posted Mar 29, 2014, 5:20 PM
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Toronto's condo sales up 28% over last year for the first 2 months of the year:

http://www.thestar.com/life/homes/20..._policies.html
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  #1366  
Old Posted Mar 29, 2014, 5:52 PM
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Didn't I see that BMO has cut their 5 year mortgage rate? Will this help people get into their first home?
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  #1367  
Old Posted Mar 29, 2014, 6:38 PM
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Quote:
Originally Posted by Beedok View Post
Thunder Bay talks about dry winters and mild summers with lots of sun.
Yes, I constantly whinge on and on about how great Winnipeg's winter weather is compared to the depressing damp greyness of Toronto. Not to mention the best hot summer days in Canada, hands down.
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  #1368  
Old Posted Mar 29, 2014, 6:59 PM
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Originally Posted by Andy6 View Post
Yes, I constantly whinge on and on about how great Winnipeg's winter weather is compared to the depressing damp greyness of Toronto. Not to mention the best hot summer days in Canada, hands down.
I would disagree with you and say that the Okanagan/Southern Interior of BC has the best hot summer days in Canada.
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  #1369  
Old Posted Mar 29, 2014, 7:01 PM
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Sorry I just realized this is the housing bubble thread and I went on about weather. Man, we love to talk about weather in this country.
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  #1370  
Old Posted Mar 29, 2014, 8:02 PM
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Originally Posted by Procrastinational View Post
The nice part of Vancouver is if you want nice low 20's with an ocean breeze in the summer, you stay downtown. If you want mid 20's with not much of a breeze, you drive at most just a bit over an hour to Surrey or Chilliwack. And if you want the hottest summer temperatures in Canada, you drive 3 or 4 hours into the interior. Lots of choices

If you lived out in Ontario in the summer and wanted different weather within 4 hours driving, you'd have the option of maybe 28 degrees and humid, or 32 degrees and humid. You don't generally have such large temperature differentials within a small distance.
Huh? Someone already responded to this but as someone who lives on a Great Lake I can tell you there are massive temperature swings once you reach the lake vs. just mere kms away.
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  #1371  
Old Posted Mar 29, 2014, 9:28 PM
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Quote:
Originally Posted by lio45 View Post
What I find fascinating is that EVERYBODY considers THEY have the best weather.



SW BC -- "I couldn't live without mild winters, I don't know how you poor guys handle it, freezing to death... And our summers are decent. Clearly we have the best overall climate. As proof, see how everybody wants to come here for that."

BC interior -- "Winters in the rest of Canada are just too cold, ours are acceptable, and I need the dry and hot summers that we have, it's just perfect... Best summers in Canada, decent winters."

West half of the Prairies -- "We need the sun, our summers are warm and dry, and sunny, and when it gets cold it's dry cold, I couldn't stand the humidity of Ontario or the rain of BC... ugh, horrible."

Southern Ontario -- "I want hot summers, including hot summer nights. I want hot temps to maximize pool/beach days. Our winters are decent, second only to BC where we couldn't even live anyway -- cool summers, yuck."

Four seasons area (Ottawa, Quebec, NB) -- "I need the four seasons, love our hot summers and reliable winters, I couldn't live in a boring one-season place, rainy BC winters, grey skies, how awful. And Prairie winters are just too cold."

NS -- "I couldn't stand so much snow and cold, our mild temp year-round is the best... enjoyable summers, bearable winters (kinda like SW BC, in terms of argument)."

Newfoundland -- "I want cool summers, mild winters, tons of fog, and rain. I wouldn't feel home, otherwise."





To be fair, Winnipeg and Thunder Bay deserve credit for being the exceptions.
Having grown up in the Interior of BC (Kelowna), Hands down it has the best climate in Canada.

Winters average 1C to -6c and rapidly rise come february, summers average 29C and often peak in the mid 30s.

It's a sunny city in summer but Very Dreary in winter, and by dreary it's Vancouver dreary.

Kelowna only gets around 11-15 inches of precipitation a year and is surrounded by mountains, lakes, and vineyards.

If It wasn't so small and the people there didn't drive me crazy I'd probably still live there, BUT Vancouver is better in pretty much every way but weather. to me.
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  #1372  
Old Posted Mar 29, 2014, 10:50 PM
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In an attempt to tie these two threads together:

SW BC -- "I couldn't live without mild winters, that is after all why everyone wants to move here. Housing bubble? There is no housing bubble! This is just the result of our environment that we attract all of these people who keep wanting to move here. Sure, some of they buy empty condos that they are saving for a rainy day. I like them they help subsidise my condo fees. But most do come. There is no housing boom.".

BC interior -- "Winters in the rest of Canada are just too cold, ours are acceptable, and that is the reason our housing costs are going up. All those people from the Parries who retire and no long have to stay in the cold or can't afford to live in Vancouver are moving in. The housing bubble does not exist it is the natural demographic shift as the baby boomers hit retirement and society shifts to being more mobile in general and more people work from home."

West half of the Prairies -- "We need the sun, our summers are warm and dry, and sunny, and when it gets cold it's dry cold, I couldn't stand the humidity of Ontario or the rain of BC... ugh, horrible." All of those new-comers from other parts of Canada just don't understand the weather, however they do like the jobs and high pay. They are even buying homes and that is why housing prices are going up. Eventually they will hit early retirement move home or to BC but they will be replaced with others who will also want to live here. There is no housing bubble, just economic growth as long as there is oil, Uranium, Potash we are set."

Southern Ontario -- "I want hot summers, including hot summer nights. I want hot temps to maximize pool/beach days. Our winters are decent, second only to BC where we couldn't even live anyway -- cool summers, yuck. We like to think that there are all of these people from BC that move here we keep attracting people from everywhere. We don't have a housing boom."


Four seasons area (Ottawa, Quebec, NB) -- "I need the four seasons, love our hot summers and reliable winters, I couldn't live in a boring one-season place, rainy BC winters, grey skies, how awful. And Prairie winters are just too cold. We are staying here and there is no boom."

NS -- "I couldn't stand so much snow and cold, our mild temp year-round is the best... enjoyable summers, bearable winters (kinda like SW BC, in terms of argument). My cousin may tolerate going to the Parries for a few years but I know he is saving up to buy a house and there is no housing boom"

Newfoundland -- "I want cool summers, mild winters, tons of fog, and rain. I wouldn't feel home, otherwise. They guys that went to Toronto and Alberta are doing it for the money, they will eventually come back. We don't have housing bubble."
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  #1373  
Old Posted Mar 29, 2014, 11:06 PM
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It's basically unheard of for people in Atlantic Canada to believe or argue that they have the best weather in the country. I've never personally thought this or heard anybody say this. If you're okay with living in a place with cool summers then parts of BC are strictly better. If you like hot summers then the BC interior and Ontario are better.

One factor for me when I moved to Vancouver is that I like the climate here more. If I really cared that much about the weather though I would move to California, not BC. I'm only in Vancouver because I value other things more.

What I have argued is that people tend to think the climate in Atlantic Canada is much worse than it is. Almost everybody in the country thinks it's a step down from everywhere else when in reality there's actually a lot of variety so it's hard to make generalizations and a lot of towns actually have good weather, for Canada. It's generally the least represented region nationally, aside from the North, so the national stereotypes about Atlantic Canada are some of the least accurate. The reality is that most Canadians would probably be pretty happy with the weather if they moved to someplace like the NS South Shore or Annapolis Valley.
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  #1374  
Old Posted Apr 19, 2014, 12:26 PM
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Toronto condo sales soar despite concerns of a crash
TARA PERKINS - REAL ESTATE REPORTER

Quote:
Sales of new condos in the Toronto area last month hit the highest level ever for the month of March, according to research firm RealNet Canada Inc., as buyers remained active in one of the country’s most worrisome markets.

While the country’s housing market is just digging itself out of a winter slump, sales of new condos in Toronto have been ramping up. That’s despite the fact that Toronto condos are at the top of economists’ and policy makers’ watch lists.

The number of newly constructed units in and around the city that found a buyer last month reached 2,496. That’s more than double the number from a year earlier, and significantly above the average 1,753 units that sold in the month of March over the past ten years.

While developers hailed the sales surge in March as a sign of consumers’ renewed confidence in the market, many experts are still warning of potential problems ahead.

The Bank of Canada noted in December that there is an “elevated” number of unsold condos that are still being planned or under construction in Toronto, and that any correction in the city’s condo market could spread to other parts of the housing market and drag down the real economy.

Toronto-Dominion Bank economists said last month that they expect the city’s condo prices to fall by around 4 per cent this year and a further 4 per cent next year, as a large number of new units are finished.

For their part, developers see they are still seeing lots of buyers and some believe that the March spike in sales reflects capitulation on the part of consumers who have been waiting for the market to cool.


Read The Article Here

Just a reminder that 2011 and 2012 were record breaking years for new condo sales..... Let's see how things pan out.
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  #1375  
Old Posted Apr 19, 2014, 5:07 PM
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The longer this goes on unchecked, the greater the crash will be when it comes. The only thing that is powering Vancouver and Toronto is the presence of large amounts of Mainland Chinese money sloshing around. There is no economic underpinning to increases in units or prices. When something happens to chnage that (and it will, remember Japan in the 1980's) the results in Canadian real estate will be ugly.
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  #1376  
Old Posted Apr 19, 2014, 5:11 PM
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there is plenty of economic underpinning to it, at least in Toronto. Demand for units in downtown Toronto seems like it can never be met. Bidding wars for rental condos is common.. The demand for new condos in the city is really, really high.
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  #1377  
Old Posted Apr 19, 2014, 5:29 PM
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I've said it before, but unless we ever get detailed demographics about condo purchasers, stats on new unit sales are relatively useless in determining the chance of a crash. There's a big difference between selling 1000 units to new immigrants or professionals moving out of the suburbs versus investors trying to take advantage of rising rental rates.
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  #1378  
Old Posted Apr 19, 2014, 5:37 PM
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Originally Posted by Innsertnamehere View Post
there is plenty of economic underpinning to it, at least in Toronto. Demand for units in downtown Toronto seems like it can never be met. Bidding wars for rental condos is common.. The demand for new condos in the city is really, really high.
Demand for condos not equal a helathy economy.

Is sad sack Ontario ‘dragging down’ the rest of Canada?

..Ontario’s failure to come to grips with its economic productivity and growth issues has serious implications for itself as well as the future growth of the Canadian economy… Ontario is a vast pool of human, physical and financial capital that is not living up to its potential,” he wrote.

Ontario is facing a projected $11.7-billion deficit in the current fiscal year, as well as a hobbled manufacturing industry, once the province’s strongest economic engine.

Among the dire metrics Mr. di Matteo, an economics professor at Lakehead University, cites in the Fraser Institute study is the province’s shrinking per-capita GDP. Ontario’s real per capita GDP in 2012 was 5.6% lower than the rest of Canada, compared to 2004 when it was 0.36% higher. What’s more, if Ontario was taken out of the mix, Canada’s 2012 real per capita GDP would rise 2.2%, he wrote..

http://business.financialpost.com/20...est-of-canada/
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  #1379  
Old Posted Apr 19, 2014, 5:40 PM
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End of housing boom will be costly, Scotiabank warns:

http://www.cbc.ca/news/business/end-...arns-1.2612405

It's like I always said, selling each other houses does nothing real for our economy and puts the country in a very dangerous position.
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  #1380  
Old Posted Apr 19, 2014, 5:51 PM
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Scotiabank and now the BMO. bad news
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