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+--- Thread: Canada’s housing market frothy (/thread-6786.html)
Re: Canada’s housing market frothy - ketchim - 08-21-2012
No !
Once dem Ca$h yuh money ......
Investors by Law effective the odda day :
must put 20 % down instead of 5 %........Ouch !!!!!!!!
So that 9k becomes 36k ...
Closing costs ...add anodda 2 % ! :lipsrsealed:
Re: Canada’s housing market frothy - Nargis - 08-21-2012
[quote author=mapoui link=topic=70168.msg436337#msg436337 date=1345556330]
but dont those developments..in that price range..have great potential to become violent, welfare case community ghettos, spraying bullets and low values :undecided:
I doh know. I jess arksin'.
[/quote]
most of the communities are in the higher end areas or Mississauga, Brampton, Toronto, Aurora and Markham
anywhere is a target for gunslinging and drugs etc.
Re: Canada’s housing market frothy - Nargis - 08-21-2012
[quote author=ketchim link=topic=70168.msg436344#msg436344 date=1345556692]
No !
Once dem Ca$h yuh money ......
Investors by Law effective the odda day :
must put 20 % down instead of 5 %........Ouch !!!!!!!!
So that 9k becomes 36k ...
Closing costs ...add anodda 2 % ! :lipsrsealed:
[/quote]
forget that law - i spoke with the Daniels ppl inself and that is what they are doing.
first home buyers is 5%.
Re: Canada’s housing market frothy - Nargis - 08-21-2012
[quote author=mapoui link=topic=70168.msg436341#msg436341 date=1345556559]
and dont deh have a scheme to prevent rich people like nargis investing, buying them all up and re-selling for higher price?
[/quote]
meh nah rich bai
Re: Canada’s housing market frothy - ketchim - 08-21-2012
Mapoui ,
take a visit to that Chingoussy Park ..( spelling ) ::lol::
and that Lake sumting ( cant remember name )
Nargis can tell you about these 2 great Picnic sites !
Re: Canada’s housing market frothy - ketchim - 08-21-2012
[quote author=~Nargis~ link=topic=70168.msg436347#msg436347 date=1345556785]
first home buyers is 5%.
[/quote]
Yeah IF you are taking possession :
BUT if you are investing ....its 20 % :wink:
Re: Canada’s housing market frothy - Nargis - 08-21-2012
i can take possesion and then resale couple months later - whose to say different?
Re: Canada’s housing market frothy - ketchim - 08-21-2012
BTW ....5 % down is an insured Loan :
The Insurance Premium is almost 2.5 % !
So your Mortgage is only reduced by a REAL contribution :
of half your 5 .... :angry:
Re: Canada’s housing market frothy - ketchim - 08-21-2012
[quote author=~Nargis~ link=topic=70168.msg436353#msg436353 date=1345557038]
i can take possesion and then resale couple months later - whose to say different?
[/quote]
No problem there :
But your closing costs will chew up your Profit in the short term !
Land Transfer Tax , CMHC premium , HST , Lawyers Fees et cetera :wink:
Re: Canada’s housing market frothy - mapoui - 08-21-2012
[quote author=ketchim link=topic=70168.msg436349#msg436349 date=1345556871]
Mapoui ,
take a visit to that Chingoussy Park ..( spelling ) ::lol::
and that Lake sumting ( cant remember name )
Nargis can tell you about these 2 great Picnic sites !
[/quote]
where dem sites?
I almost bought a place at islington and wilson..rexdale deh! wat is the name of dat western part of wilson again.
those townhouse were huge, nice and at good price and just 65 garnd in those days.
I went scarborough instead lucky choice