The housing market is dead.

Long live the housing market.

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Re: The housing market is dead.

#121  Postby Macdoc » Aug 25, 2018 9:29 pm

I do think we will see more communal spaces ....first world countries are aging fast and require housing suitable to their needs.

We are just moving prtners mother into here
https://www.agedcareonline.com.au/resid ... -aged-care

She's 92 and past independent living.

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Rooms are okay and common area including grounds are lovely

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Australia has a very strong safety net for the elderly but if you can pay you have good choices ...I'm just hoping gov clamps down on speculation on them.

I think student style dorms with communal facilities will grow. Even my daughter who is paid well above the GTA average is wondering if she can handle a modest apartment on her own.
I just learned that Australia limits rent to 33% of income ...want to find out more about that.

http://www.housing.wa.gov.au/housingopt ... fault.aspx

https://www.dss.gov.au/our-responsibili ... indexation

The eligibility limits are quite good to cover a wide range of circumstances.
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Re: The housing market is dead.

#122  Postby laklak » Aug 26, 2018 2:39 am

Jesus, 13 sq meters? We've got an efficiency we rent out, it's 38 sq meters and it's about as small a place as you'll find. One big room, separate bath/shower, and separate kitchen. That's about the same size as the boat, actually, though it's got two "staterooms", 2 baths with shouwers, a living/dining room, and a full galley. Tiny home designers could learn a lot from live aboard boats, there's not a single wasted area, everything has hidden storage - under the bunk in the bow cabin, under the settee, in every nook and cranny there's some sort of closed storage space.
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Re: The housing market is dead.

#123  Postby Scot Dutchy » Aug 26, 2018 10:41 am

Our student studios have a microwave. Students can eat in the university mensa. One office block quite close to me has recently been converted. They look nice and extra sound insulation has been added.
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Re: The housing market is dead.

#124  Postby Macdoc » Sep 07, 2018 12:43 pm

The Economists nails the risk of a crisis

Has finance been fixed?
The world has not learned the lessons of the financial crisis
Banks are safer, but too much of what has gone wrong since 2008 could happen again


snip

Rich-world governments have never properly reconciled a desire to boost home ownership with the need to avoid dangerous booms in household credit, as in the mid-2000s. In America the reluctance to confront this means that the taxpayer underwrites 70% of all new mortgage lending. Everywhere, regulations encourage banks to lend against property rather than make loans to businesses.


https://www.economist.com/leaders/2018/ ... ial-crisis

and the musical chairs music plays on....til it stops..:coffee:
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Re: The housing market is dead.

#125  Postby I'm With Stupid » Sep 07, 2018 8:19 pm

Couple ‘makes £100k’ selling house only to realise they have to buy another one

A COUPLE who made a large profit on their house have realised they now need to buy another one that is equally expensive.

Bath-based money-obsessed dickheads Julian Cook and Mary Fisher recently sold their terraced house for £104k more than they paid for it in 2009.

However the fucking idiots later realised this was largely irrelevant unless they want to be homeless.


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Re: The housing market is dead.

#126  Postby laklak » Sep 07, 2018 8:24 pm

Lol. It's so true. The only way it works is to downsize, or move to a much cheaper area.
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Re: The housing market is dead.

#127  Postby Cito di Pense » Sep 08, 2018 8:38 am

laklak wrote:Lol. It's so true. The only way it works is to downsize, or move to a much cheaper area.


Or you can get off the merry-go-round, and rent. Or just fucking stay put, as the neighborhood worsens around you.

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“It’s not a house, it’s a home”


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Re: The housing market is dead.

#128  Postby Macdoc » Sep 28, 2018 4:38 pm

Toronto, Vancouver among biggest property bubbles in the world, UBS says

9 years salary to buy a house in Vancouver, more than 6 in Toronto

Pete Evans · CBC News · Posted: Sep 28, 2018 10:43 AM ET | Last Updated: a few seconds ago


https://www.cbc.ca/news/business/toront ... -1.4842272

Do I hear the musical chairs music slowing....
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Re: The housing market is dead.

#129  Postby felltoearth » Sep 28, 2018 7:00 pm

I noticed asking prices are down. Doesn’t mean they don’t get bid up though, which was our experience.
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Re: The housing market is dead.

#130  Postby felltoearth » Feb 08, 2019 2:40 pm

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Re: The housing market is dead.

#131  Postby Macdoc » Feb 08, 2019 9:03 pm

GTA
This couple shares a 335-square-foot micro condo on Queen St. — and they love it


https://www.thestar.com/news/gta/2019/0 ... it.htmlmic

Want to buy a Toronto condo? You now need an annual income of at least $100,000
https://business.financialpost.com/.../ ... ed-an-an...
Apr 11, 2018 - Amid low supply and soaring demand, the average price of a resale condo in the city hit $558000 in the first quarter of 2018.

https://business.financialpost.com/real ... ast-100000

No surprise then that so many are opting to stay in the rental market a little longer, driving up average rents amid vacancy rates that are now below one per cent. Rents for an average unit of 740 square feet in the city of Toronto grew 10.7 per cent year-over-year in the first quarter, to $2,206.

Indeed, Urbanation found it was still less expensive to rent than to carry the ownership costs of the equivalent sized condominium. For the average 740 square foot unit rented in the first quarter of 2018, the cost of a mortgage plus condo fees (with a 20 per cent down payment) would be $170 a month higher than the average monthly rent of $2,206. Two years ago, the costs of owning and renting were roughly equal.


:nono:
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Re: The housing market is dead.

#132  Postby juju7 » Feb 11, 2019 8:38 am

aban57 wrote:Why would the value of a house increase with years ? In normal use conditions, everything degrades with time, so unless you invest money into home improvement (which improves its value, but also its global cost), the value should decrease.

Supply demand. A house will increase in value where there is increasing demand and supply is limited.
Economics 101.
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Re: The housing market is dead.

#133  Postby Macdoc » Feb 11, 2019 9:19 am

you act as if that's some kind inevitable law....it's not. Adam Smith was wrong.

http://jonathanstray.com/nobel-winner-p ... mith-wrong

We don't allow speculation on other critical things like roads, parks, schools, hospitals, university dormitories, military bases water supply all of which are in finite supply and by policy speculation is forbiddemn but it's the wild west on shelter. :nono:
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Re: The housing market is dead.

#134  Postby Hermit » Feb 11, 2019 12:16 pm

Macdoc wrote:We don't allow speculation on other critical things like roads, parks, schools, hospitals, university dormitories, military bases water supply all of which are in finite supply and by policy speculation is forbiddemn but it's the wild west on shelter. :nono:

Let's nationalise all shelters then. Problem solved.

Seriously. I am in favour of it. If it can be done is another matter.
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Re: The housing market is dead.

#135  Postby romansh » Feb 12, 2019 1:25 am

juju7 wrote:
aban57 wrote:Why would the value of a house increase with years ? In normal use conditions, everything degrades with time, so unless you invest money into home improvement (which improves its value, but also its global cost), the value should decrease.

Supply demand. A house will increase in value where there is increasing demand and supply is limited.
Economics 101.

In part yes. Why would the value of a dollar, Euro or Pound decrease over time?
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Re: The housing market is dead.

#136  Postby Macdoc » Feb 12, 2019 3:40 am

You really think currency which is managed by national banks is an equivalent to sticks n bricks speculation? :roll:

https://www.investopedia.com/articles/i ... supply.asp

Would be very nice if national policy on affordable housing was so well managed. :coffee:
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Re: The housing market is dead.

#137  Postby Cito di Pense » Feb 12, 2019 7:58 am

Well, there's something to give you pause when you speculate about the carrying capacity of the planet. The carrying capacity is limited by the fact that nobody wants to manage a resource that accommodates an unspecified demand. Sure we could make it so that everybody is successful enough to afford housing that isn't 'affordable housing', but I don't know how to do that, and neither do you.

That stuff isn't built instantaneously. By the time it is, demand has outstripped it. It's no one's problem, right? But man, if i was running things, I'd fix it all in a hurry, without resorting to the second coming of Jebus ( "... and then, a miracle occurs ..."). The fact of the matter is that the actual construction concerns are not charity organizations.

Macdoc wrote:I thought Japan was an outlier...it's not.


So why does (or does not) Japan have an affordable housing problem? If it does not, then it's an outlier. Or somebody's an outright liar.
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Re: The housing market is dead.

#138  Postby felltoearth » Feb 12, 2019 11:13 am

Cito di Pense wrote:
The fact of the matter is that the actual construction concerns are not charity organizations.

Macdoc wrote:I thought Japan was an outlier...it's not.


So why does (or does not) Japan have an affordable housing problem? If it does not, then it's an outlier. Or somebody's an outright liar.

That’s the point of my post earlier. Maybe not in some places but here in Ontario we still believe the private sector is going to solve the supply problem of affordable housing. It’s fucking delusional.
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Re: The housing market is dead.

#139  Postby Cito di Pense » Feb 12, 2019 11:17 am

felltoearth wrote:
Cito di Pense wrote:
The fact of the matter is that the actual construction concerns are not charity organizations.

Macdoc wrote:I thought Japan was an outlier...it's not.


So why does (or does not) Japan have an affordable housing problem? If it does not, then it's an outlier. Or somebody's an outright liar.

That’s the point of my post earlier. Maybe not in some places but here in Ontario we still believe the private sector is going to solve the supply problem of affordable housing. It’s fucking delusional.


Granted, but I don't think anyone has given good reasons why so many folks are not happy to pay their taxes, so you can wonder about what else is delusional. I would happily pay my taxes if anyone could force me to do so, and I could figure out to whom I owe them. I think anyone clever enough to get his/her hands on my assets is entitled to them.
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Re: The housing market is dead.

#140  Postby zulumoose » Feb 12, 2019 11:25 am

Maybe not in some places but here in Ontario we still believe the private sector is going to solve the supply problem of affordable housing. It’s fucking delusional


The problem I think of when government get into the "affordable housing" planning mode, is how do you prevent their efforts from becoming places everyone aspires to getting out of, leaving behind the most desperate people densely packed together.
many council estates in the U.K. and "the projects" in the U.S. are notoriously bad results of attempts to solve the problem.
It seems an unfortunate reality of human nature is to devalue anything not earned, so unless people literally buy into housing projects, through some sort of meaningful input, the result will be something nobody wants in the end.
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