LoveCanada

joined 1 week ago
[–] LoveCanada@lemmy.ca 1 points 46 minutes ago* (last edited 19 minutes ago)

Setting fire to people’s homes through their mail slot is all harmless fun.

BS. Never happened. The two idiots who tried to burn down an apartment building were not associated with the convoy as confirmed by Ottawa Police, so what are you talking about?

[–] LoveCanada@lemmy.ca 0 points 4 hours ago (1 children)

Well, no matter whether you intend it to be or not, every purchase of real estate is an investment.

[–] LoveCanada@lemmy.ca 1 points 5 hours ago

TRILLION

Huh, you are indeed correct. Hoisted by my own petard.

[–] LoveCanada@lemmy.ca 1 points 12 hours ago* (last edited 12 hours ago)

You sure jump to conclusions. I didnt move neighborhoods. I lost a property in another country with two houses on it with ZERO insurance payout because the loss was due to a lava eruption. Total loss of property and my vehicles.

I dont need empathy for a "disaster" thats going to take 100 years to take place. Thats ridiculous. I had no warning, they have 100 years to make a move.

[–] LoveCanada@lemmy.ca 1 points 15 hours ago (3 children)

No, I rent houses. That basement suite is the lower suite, the upper suite is a separate unit. My point is that they are far too big an investment for renters to actually be able to buy and many of my renters dont WANT to buy. Some do and several have done so but thats the minority.

And condos are a very bad investment. Condo fees and insurance, plus emergency repairs on them make them highly expensive. Would never touch one.

[–] LoveCanada@lemmy.ca 0 points 17 hours ago* (last edited 16 hours ago) (2 children)

Who pays for that? The taxpayer, which means a MASSIVE increase in taxes because the average house in Canada is now about 700,000.

Lets say the gov wants to buy 1000 homes in a city, thats 700,000,000. How much do you think taxes would have to go up to spend nearly 3/4 of a billion dollars for 1000 homes in a major city? If they did that in 30 Canadian cities thats 21,000,000,000.

21 TRILLION DOLLARS! Currently Canadas entire national debt (the highest in Canadas history) is 1.4 trillion. So you'd have to make it 15 times bigger to buy those houses. If everyone taxes TRIPLED we couldn't pay that off.

You think thats workable? Not a chance. And thats just for 1000 homes per city. Vancouver for example currently has about 125,000 rentals, Toronto has 550,000 rentals so 1000 is barely a drop in the bucket.

Amazing the things that one can come up with when one doesnt do the math.

[–] LoveCanada@lemmy.ca 2 points 17 hours ago* (last edited 15 hours ago) (5 children)

So my rental basement suite, I rent out for 1200 in a major Canadian city. The house is worth 650,000. A mortgage on that house at todays interest rates would be 3650. Insurance is another 150. Property taxes are 300. So monthly fixed costs of ownership are 4100. But there's always something to fix so add on a very modest 300 a month for that and 4400 is a reasonably moderate estimate.

SO explain to me how the person who now pays 1200 a month is going to come up with more than THREE times their rent per month to buy a house? And theres no way that house is dropping so far down in value that 1200 is anywhere close to being able to buy it, even if it lost HALF its value. Give me your solution to how that would work.

Mom and pop landlords provide the cheapest rentals on the market. Our investment in rental housing is absolutely necessary in providing a place for those on the lowest budgets.

[–] LoveCanada@lemmy.ca 4 points 22 hours ago

An air conditioner unit for a single room is as cheap as $140 brand new at Walmart and often used they're just $40 on marketplace. But the tenant pays the power bill. Sure I'll buy you a couple, not exactly a big deal, its your power bill.

[–] LoveCanada@lemmy.ca -2 points 22 hours ago (6 children)

You DO realize that if we sold all our properties that millions of people would have no place to live? Just because we put them up for sale doesnt mean a current tenant could afford to buy them. What does that mean? They would likely be snapped up by corporate property management companies. And that means rent would go UP as companies would control all the rentals and can set whatever price they wish. The existence of mom and pop landlords is what keeps prices DOWN especially if they are for basement suites.

view more: next ›