“The new HST rebate announced by Ontario in late March is estimated to cut condo prices by an average of about $100,000, narrowing that price gap to about 20 per cent. Historically, the gap would have been 10 per cent to 15 per cent, though under better market conditions, Hildebrand said.”
So condos, which have high assesments and such, went from 500k to 400k? I just don’t even know who owns these things. And this is below cost to build. This is folks mean by system endemic issues. Its what happens when all the money is at the top and there is to little money at the avergage person level to purchase typical life things for them. I know in the city im from, which is pretty affordable relative wise, if you got handed a downtowncondo for free you likely would be fine and be able to pay taxes and assesments but a normal person would not be able to handle much of a mortage. I guess two income one handles the mortgage and the other the other expenses. Just don’t have kids or seperate ever or lose a job or get sick.
“The new HST rebate announced by Ontario in late March is estimated to cut condo prices by an average of about $100,000, narrowing that price gap to about 20 per cent. Historically, the gap would have been 10 per cent to 15 per cent, though under better market conditions, Hildebrand said.”
So condos, which have high assesments and such, went from 500k to 400k? I just don’t even know who owns these things. And this is below cost to build. This is folks mean by system endemic issues. Its what happens when all the money is at the top and there is to little money at the avergage person level to purchase typical life things for them. I know in the city im from, which is pretty affordable relative wise, if you got handed a downtowncondo for free you likely would be fine and be able to pay taxes and assesments but a normal person would not be able to handle much of a mortage. I guess two income one handles the mortgage and the other the other expenses. Just don’t have kids or seperate ever or lose a job or get sick.