gquest
Active Member
Are there first-time home buyers here? Considering how the market has changed significantly since 2017/2018/2019, what are your plans?
- Thread starter gquest
- Start date
Deanfeb
Active Member
New developers who will buy our project will jackup the prices to reality today prices.. i will tak my deposit n interest whatever peanuts it is and buy somewhere else..@gguest u still living at home?
Deanfeb
Active Member
Plus it look like interest rates will start coming by next april.. that send markets upwards crazy again..
jbaa1
Active Member
This is the funniest thing I heard all monthYeah. I wonder what they intend to achieve from now to January 31 2024. Imagine vandyk pull a uno reverse card and pay off all the debt before that date
Oh well at least we know the outcome now, just waiting to get my deposit and buy a 1 bed micro condo 350 sqft
gquest
Active Member
My thoughts as well. They'll sell the metro floor plan for $600k - $650k.
I'm renting a small basement apartment. Moved here in 2017, bought the precon in 2018 as I wasn't ready for mortage commitment and the payment structure was nice. I was looking forward to closing my unit...Now I need a bigger space due to change in family size and might be forced to rent...oh rent has skyrocketed as well, yikes!
Deanfeb
Active Member
Metro will be more like $750k. Todays prices..did u buy that one? It was going for §449k?
Deanfeb
Active Member
If anybody thinking of filing a class action law suit? Capital gains etc let me know.. i read in Reddit.. someone is filing one for the Binghamton suites..
gquest
Active Member
Bought it for $499k in 2018
Deanfeb
Active Member
torontomans34
New Member
it looks like sr law registered the o canada mortgage in uptowns (within 3 weeks a bunch of liens were registered)- how were they able to act for borrower and lender on uptowns?
jbaa1
Active Member
Do you think we can? What are the conditions in which class action would be accepted? Also they’d have to still be in business after this receivership?
But hell yeah I’d be down for that.
Deanfeb
Active Member
Yes ithink they have to be in business and if somehow they come out of this with cash in hand after settlement , even better.. Stanham developers has same happen to them and they came out after settlement with millions in hand..we file as a group , cheaper and better.. capital gains alone will be beneficial.. need see what new builder will offer us new prices and from that we can base lawsuit..
jbaa1
Active Member
Sounds good, let’s keep tabs on this. I’m definitely in.
gquest
Active Member
This is a red flag. I'll dig into "o canada mortgage" to see what I can find
jbaa1
Active Member
From law firm holding deposits:
“The situation is fluid and until there is some resolution and we receive information on how the project is proceeding we cannot comment except to advise that the Purchaser’s deposits are secure.”
They sent this yesterday.