HawthorneVillager.com

+1

I think at this point after revising/rewording what your crystal ball is saying, dtc is curious to know if you're ever going to be right on the money

In Milton 10% would account for the loss of around 1 years gains.

Hardly a big blow to confidence when most people living in Milton probably have already seen the going price of their houses increase by 20-25% since they purchased.

I think most people realize we have finally hit a peak and expect that this month was probably the best month to sell -- if that is what they wanted.

My entire argument is related to the title of this thread and just how long it's been going on.

The predictions on page 1-2 still haven't happened and in fact people who argued with others on pages 1-2 probably have seen their houses current value appreciate by 10-12% by page 56 or wherever we are now.

If they bought in the past 2-3 years, they also probably saved tens of thousands of dollars in interest payments by taking advantage of low interest rates.

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Dont get this logic. If I were to sell my house for 1.5 in the GVA and wanted to stay there, I would have to downsize to buy that house to have 300K left over. Prices are all relative to where you live. There are a few resons why Milton is still relatively high (how much longer, who knows) and that is the proximity to Toronto. 3 Major highways (401/403/407) 2 GO lines close (Milton and Lakeshore) and the fact that we are cheaper than Oakville. (For new homes, not for older homes by the lake). You should drive down New St. in Oakville, which is by the lake, and I can guarantee that nothing down there will sell for less than 750K.

Actually, it was West St. I was meaning, not Rebecca/New. That house that you posted, makes sense why it's still on the market, looks horrible. Withat that being said, Rebecca, isnt really near the lake and is relatively closer to the Petro plant (depending on where exactly it is). That whole pocket around West, south of lakeshore is a fortune.

i thought you rented a house by the lake in Oakville? and houses go for $439k? more b.s.

That house is a #$^% hole and from where I see it they are advertising it as a tear down to rebuild. You have to compare apples to apples, not apples to crab apples. If you are looking at a similar home in one area and comparing it to a similar home in another. Checking MLS, most houses in that Area are 589K+.

you stated you rent a home for $1600 in previous post, Caledon is also advertised as 20 minutes to pearson airport and we know that to be busllshit. oakville has a shitty pocket just like anywhere, theirs is at Kerr st. and Rebecca. i get your reasoning as you sold your house and went to rent. i understand you need to believe the market will drop, i dont get old skools, concrete has more reasoning. he plucking the data he sees to his favour. we can all do that. so far his predictions have all been crap. the delay process will prove him right as all markets cycle. when, we dont know.

Recover from what? if you gauge the current market conditions with 1 house as an example, you just lost all credibility if there was any.

your insane if you think things will be awesome! talk to me when you dont have a job, lending is tight, dont forget, when housing goes for a dump, so does credit. good luck try to get a mtg. with sliding house prices, good credit or not. been there. there is really nothing awesome about it, i dont know how old you are, but im 43 and recall how "awesome" this was. a housing meltdown will be a catastrophy. sales declines are strictly due to inventory not being there. with limited inventory the price will go up, this applies to any product. there are more people buying houses with less available. less pressure on prices. your right old skool as its been a very active thread with 3 people mainly going back and forth! sorry as i forgot dtc as well. make that 4.

Meh! Single car garage, vinyl siding, 1600 sq ft for $437,900. Not worth it!

Good luck with that.... I'll make sure to come back to this thread in 2016 and ask how that worked out for you.

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Hahaha what you do with your life really means absolutely nothing to me. Like I said before, different strokes for different folks.

Let me put it this way ok? I've finally moved into my brand new "new construction" home. It's been a long wait. I sit in my completely open concept spacious living room admiring the brand new walls, gleaming Mirage hardwood floors, 9ft ceilings, chef's kitchen, granite lined gas fireplace, etc. -- I have to say -- nobody in their right mind is going to rent me this place for $1,600 a month. Two floors, a basement, garages -- all mine. No mold, no 1980s technology, no old furnace -- it's all new. I know I can rent a semi a couple of streets down, 1,400 sq/ft for $1700 a month, but it's nowhere near the caliber of this place.

So, I spent $335,000 for this home -- 2060 sq/ft, two car garage, fully detached, all brick, 40' x 120' pool sized lot about 2 years ago... (it was one of the last houses to close).

The house is a 8 minute walk to everything. Stores, restaurants, recreation center, library, etc. 1-2 minute drive.

It's a 30 minute commute to my office in North York (yes, I don't live in Milton).

Sure, the area is still being constructed -- heck, they are building houses in my backyard still and there are construction vehicles moving around all day long -- an inconvenience I will have to put up with to enjoy pre-construction prices. I have no grass, I have rocks for a driveway -- but it will all be completed before the end of the summer.

So..

Take my house, 335,000 -- pretend no down payment (for simple math), at 3.59% interest 5/25, you are looking at around $1,600 a month P&I. (I did this to match your extremely low rent)

You are throwing away $96,000 over 5 years on rent. That works out to roughly $44,000 in principle payments over 5 years (the rest to interest).

$335,000 - $44,000 = $291,000.

So, in 5 years, you should be able to buy my house for less than $291,000, right?

So currently, the very same models with similar upgrades/fixings have sold for $415,000 - $429,000 in less than a month. One in a week. These houses are also still in the "construction zone" but from the community plans, it's fixing to be really nice when it's finally done.

So that would mean including the money lost to your "rent", the same house would need to depreciate by OVER $138,000 5 years from now to be in your range. A drop of about 34% over 5 years.

And if you inflation adjust the house price, you best inflation adjust your rent. Just because YOUR landlord doesn't follow rent increase guidelines doesn't mean everyone else doesn't either.

I personally don't care about houses in Milton so I'll just go with my own situation.

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Since when could you get to North York from Bradford in 30 minutes....He/She lives closer to the city than Milton!