[interested]

I am like the european--rent all my life and enjoy life. I do plan on owning my burial plot though....

Congratulations on your future purchase though I would recommend postponing its use for a very long time.

There is alot to be said for enjoying life and as a landlord it seems being the tenant certainly comes with alot less headaches.

 

[KA1]

I am like the european--rent all my life and enjoy life. I do plan on owning my burial plot though....

If you go for cremation, then, you won't have to worry about burial plot either. Why not go the eco-friendly way?

 

[interested]

If you go for cremation, then, you won't have to worry about burial plot either. Why not go the eco-friendly way?

I believe in Ontario it is illegal to spread ashes. Even cremated people usually have a grave site. Remember grave sites are not about the deceased but for the living.

I think however we better get back on topic or the mods will be after all of us.

I don't expect the market for burial plots to cool off anytime soon however.

 

[KA1]

I believe in Ontario it is illegal to spread ashes. Even cremated people usually have a grave site. Remember grave sites are not about the deceased but for the living.

I think however we better get back on topic or the mods will be after all of us.

I don't expect the market for burial plots to cool off anytime soon however.

A last post on this topic. Hindus and Buddhists, with the concurrence of Ontario government, have established a few places in Ontario -- closest is in Pickering and one is supposed to be in Mississauga as well -- where you can legally immerse ashes. You are behind -- very behind -- the times. PM me if you need assistance in this regard.

 

[interested]

A last post on this topic. Hindus and Buddhists, with the concurrence of Ontario government, have established a few places in Ontario -- closest is in Pickering and one is supposed to be in Mississauga as well -- where you can legally immerse ashes. You are behind -- very behind -- the times. PM me if you need assistance in this regard.

My last comment on this subject. Thank you for the information. I learned something today. Makes it a good day. I have not previously considered the topic but plan to be buried after cremation in Toronto. I have real estate purchased for that so I don't intend to change my plans. One bit of real estate I definately will eventually use though maybe I should take Urbandreamers advise and just rent

I commented before because Urbandreamer brought a smile to my face with his post. I thought his comment was quite witty.

I

 

[steve_toronto]

I have been wondering the same question.

How are people affording such insane prices. I am shocked at the amount of debt people are taking on and the prices that are being paid.

I used to wonder the same question but not any more by the very fact that the condo price in Shanghai is twice as much as in Toronto while the average family income in Shanghai is just about one seventh of that in Toronto.

 

[KA1]

I have been wondering the same question.

How are people affording such insane prices. I am shocked at the amount of debt people are taking on and the prices that are being paid.

something really serious is going on in the market. prices at Burano are dropping, as they say, like a stone. I just looked up listings at remaxcondosplus.com.

3+1 bedroom 779,000; another 3+1 listing 695,000;

2+1 bedroom 649,900; another 2+1 bedroom 619,000

Above listings are at 1 brokerage only. There must be listings with other brokers as well.

see for yourself at the link pasted.

http://www.remaxcondosplus.com/properties.2.php?showModuleDetails=propertySearch

 

[interested]

something really serious is going on in the market. prices at Burano are dropping, as they say, like a stone. I just looked up listings at remaxcondosplus.com.

3+1 bedroom 779,000; another 3+1 listing 695,000;

2+1 bedroom 649,900; another 2+1 bedroom 619,000

Above listings are at 1 brokerage only. There must be listings with other brokers as well.

see for yourself at the link pasted.

http://www.remaxcondosplus.com/properties.2.php?showModuleDetails=propertySearch[/QUOTE

KA,

While your conclusion may in fact be correct, there are other explanations.

First of all, $619K for 1090 sq. ft is about $520/sq. ft. I don't know if this includes parking/locker but if not, it would be closer to $550K as is the $649K unit. No parking on a 2+1 unit I believe would be a mistake and therefore discounting of the unit price.

The 3+1 listings I dealt with in a previous post.

There may be something with the Burano building itself, the layout/view may not be good.

the end user may have had a change of situation. The investor may no longer qualify based on new mortgage rules for 20% down and 5 year terms. Flippers will want out. With the world bad news, stock market declines again, some people may not wish their money tied up.

Perhaps the building is not as nice as some had hoped or there are Burano/Murano specific issues.
Others more familiar with this project may be able to enlighten us.

Finally, now with prices hitting perhaps a wall, and without the frenzy of alot of advertising of new projects, agents involved buying to flip to willing investors, prices are approaching back to a more normal level based on resale.

10 years ago, new was cheaper than resale. Now, new is 15-20% more based on "future appreciation". If one just accepts that there will not be future appreciation, the resale market is $450-550/sq. ft so if one removes the future appreciation I don't think these asking prices are unrealistic.

If it turns out that the market has halted or is in the process of doing so, then as I said in previous posts, I would not be suprised to see a retest of 2007-2008 prices. Whether it goes even lower would remain to be seen. But those days of paying over $600/sq.ft for a mid range condo in Toronto I believe are coming if not already at an end.

 

[interested]

something really serious is going on in the market. prices at Burano are dropping, as they say, like a stone. I just looked up listings at remaxcondosplus.com.

3+1 bedroom 779,000; another 3+1 listing 695,000;

2+1 bedroom 649,900; another 2+1 bedroom 619,000

Above listings are at 1 brokerage only. There must be listings with other brokers as well.

see for yourself at the link pasted.

http://www.remaxcondosplus.com/properties.2.php?showModuleDetails=propertySearch

I sent you a pm (in fact 2 as I couldn't get it all in one post).

 

[daveto]

I used to wonder the same question but not any more by the very fact that the condo price in Shanghai is twice as much as in Toronto while the average family income in Shanghai is just about one seventh of that in Toronto.

An apples to orange comparison. You'd need to consider the proportion of the population living in condos in the two cities. I've not been to Shanghai, but my guess is there is a high proportion of the population with very low incomes and a small proportion living in a western style.
http://www.google.ca/search?q=shang...s=org.mozilla:en-US:official&client=firefox-a

Going further, there has been a lot of talk about the possibility of housing bubbles in various China urban centres. Just because prices are more unreasonable elsewhere (Shanghai) doesn't mean that they are reasonable here. http://www.businessinsider.com/the-...0-1#property-values-are-rising-dramatically-1

 

[urbandreamer]

Perhaps a north view that's going to be blocked by that 192m (45s) gov't office building?