Just FYI. You will have hard time affording a place at 60K. During the background check, many landlords can and will refuse you because you don't make enough. You can make a deal with them by signing a lease on their terms (more upfront rent, deposits, etc.) but those landlords are greedy and some terms would be borderline illegal.
**sigh** Like my coach used to say: "God save us from having this type of fun"
Correct. There is also a thing about private equity firms and foreign capitals. Both of those things will not allow prices to go down. UNLESS, the government will do something about it. And they won't
Unfortunately, there are only crappy and crappier solutions now. 1980s was really painful for a while... We are in a similar situation.
Yup. I really hope whoever moves to Canada will not make stupid financial decisions like buying a new car or something similar. Met a guy in 2017 who was a new PR. He bought a new Range Rover with insane APR.
Here is the trouble. A vast majority of Canada's population is OLD AF and OWNs houses.. multiple of them. We are talking primary, vacation and investment homes. And these folks will hate if prices of houses will go down. And ..... they vote.
That's a fantastic answer. Pretty much what new immigrants need to know about the current real estate market in Canada (at least, in Toronto and Vancouver).
Rents will be up.
One reason people live in big cities is their public transport infra....
Agree about the rents.
Big cities have good public infra WITHIN the city. Toronto has good public transport; Markham doesn't. Waterloo is shit. Good thing about Waterloo is that Uber won't cost more than 20-30 bucks.
I am just imagining fighting for a condo and getting help at ER in 2025. JC, the infrastructure won't scale up with such an increased level of newcomers.
