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[seadrag0n]

Many new homes at risk, as major Vancouver developer files for insolvency

@GandiBaat Your comments please.

 

[RSub]

True, even many Venezuelan immigrants are finding out now that the US is not the promised land they thought, so they are leaving for Canada.

https://nypost.com/2023/02/05/migrants-abandon-nyc-for-canada-with-taxpayer-funded-bus-tickets/

And they are going back to NYC.


https://nypost.com/2023/02/08/migrants-bussed-to-canada-already-heading-back-to-nyc/

You should know how republican's have been playing with these migrants life and using them for their pity politics.. There are always two sides to a story.

 

[Arod]

And they are going back to NYC.


https://nypost.com/2023/02/08/migrants-bussed-to-canada-already-heading-back-to-nyc/

Of course they are, imagine people coming from a place where temperatures rarely go below 25 degrees Celsius arriving to Montreal in the middle of February.

The point is that if the US was so great as some posters here think, they would have never left in the first place.

 

[Deleted member 1083629]

You keep moving the goalposts.

First you were talking about the GTA, then downtown Toronto, tomorrow you'll be saying you were referring to the Yorkville neighbourhood only.

By the way, I live outside DT Toronto and the first year or so I didn't have a car, so no, it is NOT true that you need a car if you live outside downtown. It makes things easier for sure, but it's not like you can't survive without a car.

Not really.

150K is a salary. Minus tax, minus expenses you have X amount of money. From this money you have to pay mortgage. Adding a car to those expenses is borderline impossible task.

In regards to a car: in the beginning (in 2017) I stayed in North York. It's very similar to Austin; while I could survive without a car, I was walking a lot to places that didn't have bus stops and overall, I was spending 3x more time on simple tasks.

 

[GandiBaat]

They want to buy a place in DT Toronto so they don't have to buy a car. If one gets a place outside of DT Toronto, then one needs a car. Which brings total amount of expenses above the level that one can afford on 150K salary.

Usually, we do not like to live in DT. I don't know about Toronto, but I know about Vancouver. Trust me, you will not like to live there. Never. Given most of the places have gone hybrid, you will like to go to downtown once in a while. Like 2 times in a week or even less.

I know vancouver, if today I were to move to vancouver, here is what I will do:
1. Buy a place in New Westminister or Burnaby
https://www.realtor.ca/map#ZoomLevel=12&Center=49.257645,-123.123580&LatitudeMax=49.32661&LongitudeMax=-122.92050&LatitudeMin=49.18858&LongitudeMin=-123.32666&Sort=1-A&PGeoIds=g30_c2b2nw3h&GeoName=Vancouver, BC&PropertyTypeGroupID=1&PropertySearchTypeId=0&TransactionTypeId=2&BedRange=2-0&BathRange=2-0&Currency=CAD

This is costing 500-600K these days.

You need about 120K downpayment and 2800 per month for most flexible option of two year closed term. Thats close to a lot of rentals for 2 bedroom.

I think I can afford 2800 per month on a salary of 150K per month on mortgage. If my wife is not as lazy, she can chip in another 30K.

2. From both places, it takes 30-35 mins to downtown.

 

[RSub]

Of course they are, imagine people coming from a place where temperatures rarely go below 25 degrees Celsius arriving to Montreal in the middle of February.

The point is that if the US was so great as some posters here think, they would have never left in the first place.

Again, read about the migrant crisis in US. You don't know what you are talking about.

 

[vishaljhaveri800]

I am new at this, so please bear with me. I just calculation my CRS score comes to 469... I just wanted to check in with the experts on this forum - with this score what are my chances of getting PR with this score? What immigration programs should I be looking at? I haven't started my application yet...looking for some guidance.

 

[GandiBaat]

I am new at this, so please bear with me. I just calculation my CRS score comes to 469... I just wanted to check in with the experts on this forum - with this score what are my chances of getting PR with this score? What immigration programs should I be looking at? I haven't started my application yet...looking for some guidance.

Are you inside canada or outside canada?

If you are inside Canada, there may be a way. PNP is what you should be looking at ... with a job offer that is.

If you are outside Canada, it will get much harder. Again PNP is your friend, but now you will be fighting very few non job offer PNP. There are some pilot programs which do not need job offer but you will be living somewhere cold, dark and lonely.

Or... you can ask @mushymush to teach you french! it takes time though.

 

[GandiBaat]

Look at this beauty for 699k only! Do you think that tiny shed on the right is a bathroom?! I don't wanna have unrealistic expectation. Pinch me if I am dreaming.

I'll bring my trusty lota from India and go to the jungle every morning if I have to at this price. Having a tin-shed over your head so that one doesn't freeze to death in the winters will be my number 1 priority. Everything else is a luxury in the 2nd largest sized first-world developed country on this planet.


In the next express entry, Canada should consider inviting Chapris in express entry so that they can solve construction worker crisis. They can build makeshift blue sheds. Or how about good old Bihari Majdoors from India. We will make those people truly global citizens.

Imagine a colorful blue shed instead of a gray-a** shed above.

Why will you live in it if you can get a Condo? I do not know about Toronto, but you can get a Condo for 500-600K in GVA, not downtown Vancouver but around it.

I think interest rates will drop in few years. One or two then a mortgage which is costing 3000 will come down to 2200. 6-7% rate right now is costing 3000 or so for a 480K mortgage (if you bought 600K condo). It will cost 2120 on a modest decrease to 3.4% per annum. And yes it is possible. 3.4% pa is very much possible in coming years.

 

[Arod]

Again, read about the migrant crisis in US. You don't know what you are talking about.

What does the "migrant crisis" have to do with Venezuelans wanting to leave the US because the quality of life is not what they expected?

Did you even read my link?

 

[ivicts]

Is anyone here from Singapore?
How does living in Singapore vs living in Canada?
Singapore PR vs Canada PR?
Which one is better for long term?

 

[RSub]

What does the "migrant crisis" have to do with Venezuelans wanting to leave the US because the quality of life is not what they expected?

Did you even read my link?

You wouldn’t be asking if you read about the recent crisis. Go educate yourself.

 

[navinball]

Is anyone here from Singapore?
How does living in Singapore vs living in Canada?
Singapore PR vs Canada PR?
Which one is better for long term?

Haven't been to Singapore and don't know anything about it but it's better than Canadian PR.

 

[Deleted member 1083629]

Usually, we do not like to live in DT. I don't know about Toronto, but I know about Vancouver. Trust me, you will not like to live there. Never. Given most of the places have gone hybrid, you will like to go to downtown once in a while. Like 2 times in a week or even less.

I know vancouver, if today I were to move to vancouver, here is what I will do:
1. Buy a place in New Westminister or Burnaby
https://www.realtor.ca/map#ZoomLevel=12&Center=49.257645,-123.123580&LatitudeMax=49.32661&LongitudeMax=-122.92050&LatitudeMin=49.18858&LongitudeMin=-123.32666&Sort=1-A&PGeoIds=g30_c2b2nw3h&GeoName=Vancouver, BC&PropertyTypeGroupID=1&PropertySearchTypeId=0&TransactionTypeId=2&BedRange=2-0&BathRange=2-0&Currency=CAD

This is costing 500-600K these days.

You need about 120K downpayment and 2800 per month for most flexible option of two year closed term. Thats close to a lot of rentals for 2 bedroom.

I think I can afford 2800 per month on a salary of 150K per month on mortgage. If my wife is not as lazy, she can chip in another 30K.

2. From both places, it takes 30-35 mins to downtown.

Toronto DT def attracts some undesirable people but overall it's not that bad.

One thing to know for everyone reading this; quality of buildings went down significantly. Think twice-thrice before purchasing a new condo. Or purchase an older building. Or better, purchase a townhouse or stand-alone house (I would prefer stand-alone but $$$$).

 

[GandiBaat]

One thing to know for everyone reading this; quality of buildings went down significantly. Think twice-thrice before purchasing a new condo. Or purchase an older building. Or better, purchase a townhouse or stand-alone house (I would prefer stand-alone but $$$$).

Its... complicated.

In and around vancouver, double check anything from 85-99 vintage. These buildings have what is called envelop issues or Leaky Condo issues. Its pretty famous.

Newer condos are not built for living and mostly... trading or airbnb'ing. Most are VERY small like 400 sqft small. Thats smaller than a medium sized living room in SFH.

Its 2000-2010 and 1975-83 vintage that is good. The later can have age related issues so one must check AGM meetings for any upcoming special assessment.

Downtown buildings have urban heat island effect. They can get VERY VERY hot in summers. So AirCon is must.