Did they ask everyone to dress in black or is that just so Toronto? ![Smile :) :)](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
![Cool :cool: :cool:](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Good time to be a condo investor, rental rates up 7% year-over-year: http://www.theglobeandmail.com/real...r-68-in-first-quarter-report/article29628481/
Me too. Do you agree with the following for new builds in the core (exclude Cityplace and Liberty Village)
Studio $1350-$1500
1 bed $1650-$1800
1 bed den $1850-$2000
2 bed 2 bath $2200+
2 bed den/3 bed $2500+
The thing is though the units are smaller now. Many 2 bed 2 bath are under 800 sq ft
Any idea how they're getting that average rate information? Following asking prices on Craigslist or something?
MLS listed rentals are a tiny slice of the pie and tend to be on the high side. I can see how you could track year-over-year changes (%age) but not how you would find the average rate.
The reality is that most families want a backyard, 2 car garage, etc.
The backyard, white picket fence and a dog is a North American thing, and it's changing.
I think there will be a significant increase in all forms of townhome construction. This will be the next step for those who spent their 20's / 30's in King West / Liberty but and choose to stay in the City and raise kids. There will continue to be NIMBY outcries (i.e. Keewatin Avenue), especially in what have been historically wealthy neighbourhoods, but the City will have to bend. The list of reasonable objections to a townhome project is much shorter than for a tower or even a mid-rise project. The City should already be encouraging consolidation and redevelopment of multiple single family lots, particularly in areas where there is a mix of towns, semis, etc., but will certainly continue to pander to the whims of the NIMBYs.
Families living in condos is happening. That's why new schools are going in in City Place. The backyard, white picket fence and a dog is a North American thing, and it's changing. There are a number of young families in Liberty Village, for example, as well as City Place. Go to any of the parks around these new residential neighbourhoods. There are lots of kids and families.
I agree that condos (or any type of lower-maintenance homes) are increasingly becoming more desirable over the single family detached style of living. I see it in my own group of 40-50 year old peers, who all scrambled to get large properties with endless lawns and are now feeling the pain of having to take care of it all. They have kids and very active social lives, and the property is more of a burden. They are not like their fathers, who loved puttering around the yard or fixing up the roof. The mowing, raking, tending, caulking, weatherproofing, is a chore to be endured. People seem to be craving simplicity again.
We played outside as kids in the burbs. Our spacious yards were imaginative battlefields and makeshift baseball and soccer fields. I don't see that much at all these days, and we once lived next to a suburban house with 5 kids. They are all being carted around to other places to play or participate in sports.
We have teenagers in our building. They take transit, as do their parents.Are you going to have 2 or 3 cars in the condo parking lot so the kids can get to their various activities and errands can be run? There's not even 1 spot per condo unit in most buildings.