The price of housing went up over sixteen percent in the Toronto Canada area last month alone. It has been seriously rising steadily over the last few years. Time to bail out? Or are we on the threshold of a totally new economic reality?

It could be the second issue as I have been looking at building something again. I was more than a little surprised at what it will cost us. Where are the wages and earnings that are driving this? Or is it just credit at low interest rates and easily available being the driving force?

The Canadian government has made efforts several times to slow it down with no results. The big banks are underestimating their losses if the dam breaks. At least to the general public. They could get into very serious trouble. There just is no way to estimate if it is a real bubble or not. Or just the new economic reality.

As of today six large mortgage sources have stopped operations in that market.

Better buy an old building than build new? Hold onto your rental properties!

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.

It is already impacting rentals in the hot areas as well. Has been for quite awhile. Those that acquired rental properties say ten years ago must be really doing very well with them right now.

Hot demand. Toronto and Vancouver are the two hottest markets in Canada. New money is moving in and want to live in the ''hip'' spot. Look at the Chinese population in Vancouver, cash buyers for multi-million dollar properties.

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'80 300SD - '83 240D - '00 E55 AMG - '02 G500

We are doing good but not that good. DFW prices are up 8% over the past year. We are on our 4th flip and I think we will see a nice profit on this one.

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Immigration to Canada seems to have flowed to only large centers primarily . It also has been pretty heavy and constant in nature. It is now a supply and demand situation in the hotter spots.

Remember unlike the United States there was not a price correction before this started. I doubt if buying can be justified unless the month over month increases sustain in that market. This could result in a 100 percent price increase in this year alone.

Probably around 500k for a house there that needs massive repairs right now. My personal hope is people may start to move to less heated areas. To me it is more than just a bubble occurring.

We are about as far from hot areas as a Canadian can get. Yet a guy from Rhode Island wants to sell the cottage and lot next to us for 120k and at this point will not entertain offers. It needs the current cottage replaced as it is not repairable or even usable..

It was extensively storm damaged. The breakwater is going and that is thirty thousand to repair as well. What is worse is our son in in law and daughter want to buy the place. Selling our side of the brook to us in the process. The brook essentially divides the lot.

I am getting his home telephone number sometime this week. Although I have no idea how things may go. I heard he turned down 60k already true or not. My only hope is anyone interested and having to finance this will not find any takers. To also compound the situation a cottage must be constructed now to new home standards. This went into effect even before we built ours. You also have to size the septic system to year round capacity uses with many additional constraints being closer to the ocean.. So the average guy with a family is pretty much denied cottage ownership for his family.

What is even more of an issue is there are enormous amounts of empty beachfront land that restrictions will not let you develop. If they reduce this controlling factor cottage land would revert to reasonable prices.

Like the 3.5K we paid for our one acre cottage lot before all the regulatory restrictions impacted the scene. Even back then there were some. Today you could never get a building permit for our lot without a real permit fight you would probably lose. You now need three or five acres to be on the beach. What I am mentally dealing with is the lot next door allows replacement of the cottage. This adds value but it is hard to price it in. That is why I see what is happening overall perhaps as the new economic realities rather than just a bubble.

Has anybody but me wondered about this problem.Why is it that the Northern Hemisphere of the planet people flock too in droves.Most all wars,and and mass murders take place in the North.I wonder when the pole shifts will people migrate south.

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1999 w140, quit voting to old, and to old to fight, a god damned veteran

I expected more inflation after 2008 than has occurred. There are solid indications that Canada is now getting it.

Barring some form of serious financial issue you should prosper from this when it reaches you. If it has not already.

Rents have substantially increased in the last few years here. Think almost doubled. Property taxes are holding but municipalities are going much deeper into debt at the same time.

The landlord tenant board here is poison to owning private owned residential rental property though. Even if you are a good landlord. You have to screen prospective tenants like never before now. Or you will take a bath.

Fortunatly commercial space renting does not fall under their juristicton.

I really am starting to believe wages for many have not kept pace with the reality of current costs. Even in our backwoods area. Some of us older guys are just fortunate we did what we did when we did it.