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Originally posted by The_peg

…..Canadians can not and will never be able to afford current house prices.

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happily holi day!

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Originally posted by Doug

I would like to share an experience I recently had selling my home in Winnipeg, MB. My house was listed for $159,900…….double what I paid 4 years ago. The agents had one open house and then offers were accepted the following night. There were only two offers and both were well under list. My agent told me I should expect more then my list so when I saw this I was surprised but then he told me not to worry. I could not believe what happened next. All three agents, (listing agent and 2 selling agents) sat at my kitchen table and one at a time phoned each buyer with some bad news. The buyers where told that if they wanted the property they would have to up their bid…..in other words they would have to wildly over bid for my home. The scenario was repeated to each buyer back and forth until one buyer finally offered $200,000 for an 800sqft bungalow. I was amazed and shocked……very happy to had made that much money but a feeling of guilt. How can this be legal??????? I watched these agents bamboozle these two buyers until one was willing to pay way to much for my home…….oh well young uneducated buyers seem to rule the market. As for me, I paid off my tiny mortgage and will be buying a brand new house just as soon as the market crashes…….maybe I’ll buy two houses.

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happily holi day!

Hello All,
Is there a site or someplace where we can find out which part of GTA is really slow and which is more active for buying /selling?
Misssissauga I have heard is relatively more expensive than other parts of GTA.
Experts and experienced people may please give some insight to new buyers like us.

I thought Vaughan & Oakville is/was the most expensive around GTA.

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Originally posted by The_peg

Canadian banks now offer 40, 50, 60 year mortgages……that should be your first clue. If you bought a house in Canada in the last 5 years…..you will soon have a mortgage double the value of your home. HaHa

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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

http://www.torontosun.com/Money/2008/04/08/5223546-sun.html

I think “The_Peg” is making 50 or 60 yrs mortgages as sarcasm (or new idea to Real Estate board/experts) that Real Estate Boards/CHMC/interest groups try to find n number of ways to keep sale/price up and hiding truth till last(like we hear every month new number of subprime exposure by Canadian bank). Real Estate Boards/CHMC will not hesitate to bring idea of passing mortgage to next generation carry forward.

But this is all perfect in capitalist world as few people made $$ from flipping and lot are/will loose their homes/saving. Everyone is responsible to own financial decision.

Here are 540 new inventories added in last 8 days in Calgary MLS.
I hope anyone from Toronto (experts may have that data) or other part of country can bring same kind of data which can help people.


Edmonton:
Data Last Updated March 31, 2008, 9:07 am
Total Properties 12701 - Res 6295 - Condo - 3276 Acreage - 1185
Comfree say they have 30% of Edmontons listings so add another 4000+ listings.
Total Edmonton listing: 17,000 app.


Data Last Updated April 8, 2008, 3:07 pm
Total Properties 13223 - Res 6631 - Condo - 3370 Acreage - 1268

Eight days MLS inventory up: 522



Calgary:
Data Last Updated March 31, 2008, 8:27 am
Total Properties 13581 - Res 8591 - Condo - 3604 Acreage - 831
welist have around more than 30% listing too.

Data Last Updated April 8, 2008, 3:27 pm
Total Properties 14121 - Res 8956 - Condo - 3756 Acreage - 845

Eight days MLS inventory up: 540

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Originally posted by HelloG

Hello All,
Is there a site or someplace where we can find out which part of GTA is really slow and which is more active for buying /selling?
Misssissauga I have heard is relatively more expensive than other parts of GTA.
Experts and experienced people may please give some insight to new buyers like us.

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