[kettal]

The point is that most families could as easily afford a home in Riverdale (or Dufferin Grove, or Humewood...) as they could in Mississauga. I'm sure there are lots of valid reasons why they would rather live in Mississauga, and that's fine, but price is not it.

 

[nfitz]

LOL... you're ovbiously not in the real estate market...

I purchased a house in upper Beaches for about $380,000 a couple of years ago. I'm not in the market now, but it's not like the housing stock has changed completely in 2 years!

Claiming that all non-detatched houses in Riverdale start at $600,000 is clearly false. There's a couple of streets with particularily large houses and a great view over the valley that start there ... but you can't say that for the entire area.

 

[nfitz]

that's what I'm saying...

A.. that house is not detached.

Why should it be ... you claimed that "Riverdalte homes start at 600k and that's not detached...". That criteria has been met.

c. home is on arterial rd.

It's also about one-half of what you said the lower bound was. So, it's on an arterial road ... the cheaper houses in Mississauga are also on arterial roads!

 

[greenleaf]

Inclusionary Zoning is the new section 37?

http://www.thestar.com/news/gta/article/823024--making-room-in-the-sky-for-families

from article:

"With inclusionary zoning, developers are offered a tradeoff: In return for including affordable housing [set at 1/3 of median income of city residents], they can build higher and denser, or get a fast-tracked approval process, municipal or state grants, sometimes even free land."

 

[js97]

Why should it be ... you claimed that "Riverdalte homes start at 600k and that's not detached...". That criteria has been met.

It's also about one-half of what you said the lower bound was. So, it's on an arterial road ... the cheaper houses in Mississauga are also on arterial roads!

are you serious?

I purchased a house in upper Beaches for about $380,000 a couple of years ago. I'm not in the market now, but it's not like the housing stock has changed completely in 2 years!

Again, that just proves my point.... do you know how much home prices have risen since '2 years'?

I bought an investment home almost 2 years ago at 440k... my neighbour just sold theirs for 630..... granted, it's a little nicer... but that's a substantial increase.

Again... 350k is not the norm/average... it woudl be like me showing you the many million dollar homes available and saying that's the market.

Ask ANY real estate agent that you want to buy a home for 400k in Rriverdale'... see if any will take you seriously.

 

[paraone]

you need a better real estate agent then.... my brother just bought a place on Bain for $369,000 all he needs to do is update the kitchen and rebuild the deck.

 

[that_girl_there]

The market is crazy right now because interest rates have been so low. I guarantee that when interest rates rise again, home prices will drop. Maybe not as low as they were before the crash, but certainly lower than they are now. The market is just crazy. I just hope people aren't getting into variable rate mortgages or they'll be in trouble...

 

[nfitz]

are you serious?

Again, that just proves my point.... do you know how much home prices have risen since '2 years'?

Yes ...they went up, then they went down to what we purchased at, or even lower, and now they've gone up even highe than they were before. Probably could sell it for $440 to $480 based on recent neighbourhood sales.

I bought an investment home almost 2 years ago at 440k... my neighbour just sold theirs for 630..... granted, it's a little nicer... but that's a substantial increase.

I little nicer ... or an extra room, can go a long way. My neighbours house is a little nicer ... could probably go for $700K.

Again... 350k is not the norm/average... it woudl be like me showing you the many million dollar homes available and saying that's the market.

I never said it was. It's certainly the low end. You claimed the low end was 600K.

Ask ANY real estate agent that you want to buy a home for 400k in Rriverdale'... see if any will take you seriously.

You need a better estate agent then. 400K would be tough though. I repeat though, that it was the claim that it starts at 600K that I was objecting to. You can see there is some availability below 600K .... perhaps not if you want something with 1,500 square feet, 4 bedrooms up, and a finished basement ... but beggars can't be choosers.

 

[nfitz]

I just hope people aren't getting into variable rate mortgages or they'll be in trouble...

Variable rate mortgages have almost always been a better deal over the long run. You can get 5-year variable now for as low as 1.8% (prime minus 0.7) compared to about 4.5% for a 5-year fixed. Even if mortgage rates increase steadily for the next 5 years, variable rates could increase by over 5% in 5 years time, and you still would have broken even on the variable-rate mortgage.

Prime is currently 2.5%. I really don't think it's going to be 7.5% in five years time. Even if it is, you've broken even.

 

[kettal]

Again, that just proves my point.... do you know how much home prices have risen since '2 years'?

Prices rose by an equal margin in Mississauga. The real estate boom is not confined to Riverdale.

 

[greenleaf]

Family housing decision has been deferred to 2011.

It is good to see they are doing a living downtown study.

From: http://www.toronto.ca/legdocs/2010/agendas/pg.htm

"The Planning and Growth Management Committee referred the item back to the Chief Planner and Executive Director, City Planning, for further consideration and consultation with stakeholders (including the school boards), and requested that further recommendations be submitted to the Planning and Growth Management Committee in 2011 in conjunction with the upcoming Official Plan Review and the Living Downtown Study."