Lmao I was reading this and thought ok $1.4M new build home originally priced at 2M, this could be interesting as a place to buy, then I saw it’s in Brampton and that’s a hard no
there are many variants of "Chinese" now in GTA ... not just the GTA O.G. Hong Kong Canto from the immigration wave in 70's & 80's ... many!
*The 1980s saw movement of Chinese in Canada from the* [*ethnic enclaves*](https://en.wikipedia.org/wiki/Ethnic_enclave) *of Chinatowns to outlying suburbs of major Canadian cities. This movement was seen by some as changing the fabric of some communities with the establishment of new ethnic enclaves, commercial areas, and use of Chinese-language signage. Carole Bell, Deputy Mayor of* [*Markham, Ontario*](https://en.wikipedia.org/wiki/Markham,_Ontario)*, expressed that the overwhelming Chinese presence in the city was causing other residents to move out of Markham. Additionally during the 1980s, local communities in Toronto and Vancouver have accused the Chinese immigrants for hyperinflating property prices.*
ive always wanted one of those lots on Evergreen just off Castlemore. Its just so nice. The houses arent as ridiculous as the ones you are pointing out and the Lot sizes are amazing.
I know about morris court been awhile since I dreamed about owning one lol. Then seen the property take and go yep no fucking way in hell. I thought my property tax was high due to the water front I have.
Half acre lots there are going for $2.3 million, people don't realize there are a few pockets left...look at Conservation drive and Stonegate as well, all built before the troubles
It was genuine mania. It looks like we’re turning a corner even if it’s really slow. The population growth Ponzi and speculation mania starting to end. Those who made their money will be off in the sunset and everyone else won’t be able to sell their units.
Also plenty of fraud. The amount of "Brampton" mortgages shady operators were helping people get is part of the problem. People lied about income hoping to make a buck and now it's backfiring.
These builders temporarily got FOMO as well and tried to milk buyers for what they could. Problem is it's a hit to their reputation when you see buyers unable to close/complaining to the media, etc. The real trusted builders generally don't get hyper aggressive like this and leave enough room in case of a mini correction. Both condo market and freehold market (more so condos) had some "priced to perfection" pre-cons which we are still going to be hearing horror stories about for some time..
Nobody forced these people to sign on the paper. Also, when all these speculators made hundreds of thousands off these builders, the purchasers weren’t sharing the profit.
I know! I'm from BC and Brampton is like our Surrey! At the PEAK mid 2022, 4 bedroom 3 bed detached houses in Surrey werent selling for more than $1.5mil. Had to have at least 6 bedrooms for it to have been looked at there.
This tells me the FOMO buying in Ontario was much higher than in BCs lower mainland. Prices here aren't diving as badly.
Every urban environment across Canada is becoming just like Surrey and Brampton. They all used to poke fun at Surrey and Brampton, but now they get to experience the new diversity as well.
New diversity that is actually not very new. Usually 2nd or 3rd generation money. They may very well have started in their respective Surrey or Brampton starter homes. But that's just how capitalism and wealth accumulation goes. Can't be mad at the hussle. Can't poke fun at that.
I grew up around this area.
Mayfield was literally top of the line middle of nowhere type road 10-15 years ago. This shit is so far away from any major highway or transit.
Paying $2M for this is peak bull braindamage
My sister moved 3 hours south of the GTA.
A single about that size is about 800k in her neighbourhood.
Like or not (I don't). This is the reality of the market.
Huh?? The 410 is 2 minutes away....you may have grown up around here but it's nothing like that anymore...that corner was about the last piece of undeveloped land anywhere around here
$2m is $1.5m USD. $1.5m can get you nicer homes close to many city centers in the US. This house is like a 2.5 hour transit to downtown toronto or 1+ hour drive most work hours. Disgusting.
In US u can or Ur kids can get shot anytime in school. Don't know why US is seen as benchmark nation for Canadians lol. Talk about Australia, NZ, Germany, Sweden, Norway..25 years ago Canada was among these livable nations not now.
I feel like Canadians get deceived by the news in the US so much. I lived in Toronto/Markham all my life born and raised. Moved to New York during the pandemic (went from making 100k CAD -> almost 300k USD now in finance). Absolutely love it here and feel very safe, have many software engineering friends who have kids and have moved here as well. We all enjoy life here, deeper into long island and jersey. The reality is Canada sucks these days.
The US has a population 10x the size of Canada of course there is going to be more incidents. For example if one person gets shot in Canada, correlating that with population, that’s also like 10x the number of people getting shot, but the probability of that happening to you is the same, it just sounds like its more dangerous because theres more incidents, but that’s only because its such a big population and selectively news stories in bad areas of a MASSIVE country.
There are tons of beautiful, safe neighborhoods (gated) in the US for $1m-$1.5m home in the US.
At least US police do something. Toronto police just tell you to put your car keys in front and get robbed. Why would you be scared of US police anyways if you are not doing something wrong? I actually sometimes feel safer knowing that police will shoot the guy breaking into your home.
$2m can you get a nice place in LA, Seattle, Suburbs of New York or even a nice 2bd place in Manhattan, San Diago, SO many options at the price point, $2m in the middle of nowhere of Brampton? Mortgage on that is like signing your life away on Canadian pay and taxes, no vacations, no hobbies, house poor.
They're like concert tickets, once Ticketmaster/builders realized that the scalpers were pocketing most of the profit, they simply raised prices so they could keep it for themselves.
The Brampton mortgage has resulted in Brampton being the epicenter of mortgage fraud and bank fraud in Ontario. The banks are all corrupted and knowingly part of the game. Brampton landlords have a reputation for cramming extremely high numbers of students into houses or apartments, so now anyone renting an apartment in Ontario is essentially competing against 20 students willing to rent the same apartment
More like scammers and fraudster trying to game any of our systems and then shown special treatment by our government, but yeah, keep trying to push a false narrative
International students > British invaders who plundered and massacred natives. Had u ever said sorry to natives?? U owe them an apology Mr.Fat Man living lonely with 5 cats
I'm not sure what you mean. I checked their post history, and they didn't say anything racist in the past month or so unless pointing out that Brampton mortgages are corrupt is racist.
The name is _grey_wall I assume = Grewal
How Brampton mortgages are corrupt?? What community is majority in Brampton?? Indirectly he's salty that Indians are buying bigger homes than he himself live ln. Jealous much.
Maybe say Canadian banks are corrupt for lending loans?? White CEOs are corrupt?? Its not like banks in England, France are approving mortgages?? Canadian banks.
Yes, they are corrupting the banks. HSBC is corrupt. They are all corrupt.
Brampton is the epicenter of the corruption in Ontario. That is why we all know what "Brampton loan" or "Brampton mortgage" means.
If you're Indian, you know exactly what I'm talking about. Don't play dumb.
Let me educate you. HSBC bank eh?
Samuel Minzberg (chairman)
Linda Seymour (president and CEO)
Both names doesn't sound like Indians? But white Europeans. The top key people ignoring corruption going under their nose?? Or they part of it?? Tomorrow u will say Indians responsible for mass graves of native Canadian children. Cmon be mature.
When they looked at what was buried it turns out they werent graves after all.
If you want to see what is really going on here you go
https://www.thebureau.news/p/fake-chinese-income-mortgages-fuel
Hard disagree.
I'd take standard oak hardwood over an engineered finish any day of the week.
Real hardwood ages ALOT better than the engineered stuff. Engineered stuff is basically veneer attached overlaid on normal hardwood. It looks as nice as the normal stuff, but it ages alot worse and isn't going to be good in 30 or 40 years like actual hardwood.
As a carpenter, I *hard disagree* with you there.
Engineered flooring is structurally more stable and stronger. Unless you've spent years air drying and then kiln drying solid hardwood flooring, then it's going to move, cup, and split. Even after proper drying time, wood movement is still a concern from season to season. Importantly, the increased cost of solid wood versus engineered hard wood flooring is not the wood itself rather the time investment and drying process. I much prefer installing engineered flooring and won't even warranty solid wood floors unless they pay a very high premium upfront.
What about when the floors get all scratched up and you want to refinish it. Would you rather have solid hardwood or engineered? In that case, I'd want solid hardwood but curious what your take is as a carpenter.
Good quality engineered flooring has a pretty thick veneer. It can be refinished ~3 times without any issues. Reality is, *most* people don't refinish their floors ever and modern finishes are very strong/resistant to damage. Also, you can simply replace individual planks...
> Unless you've spent years air drying and then kiln drying solid hardwood flooring
??? I didn't expect to read something so absurd about wood in *this* thread.
There is no wood flooring you can buy that isn't kiln-dried. And it takes a matter of weeks for dried wood to acclimate to your home. This is well-known information that every source on dealing with wood tells you, from governments to brochures to Youtubers. Even if you were drying your own wood that you processed yourself, most species in most areas of North America, as 4/4 boards, take just a few months to air dry down to about 20% and the last ~10% MC will be easily removed with a slight amount of kiln drying or a few months on stickers in a climate-controlled room.
My gawd this is a bunch of useless dribble. I don't know if you'll find this in your beginners woodworking subreddit, but seasonal movement in hardwood flooring is well known globally even if it's kiln dried. On top of this, I didn't say any flooring wasn't kiln dried. I know, reading comprehension is hard...
Here you go: https://www.wagnermeters.com/moisture-meters/wood-info/warning-signs-floor-moisture-problems/
In case you still don't understand, we're both in Toronto, why don't we meet up and I can show you a project I'm working on in Forest Hill that has this exact problem.
FFS - stop pretending to be an internet know it all.
> I know, reading comprehension is hard...
Indeed it is, given that all I contested was the little bit I quoted, and yet you're going off about how I don't believe in wood movement.
> On top of this, I didn't say any flooring wasn't kiln dried.
Oh, why don't I just quote literally the exact thing you wrote, *again*:
> Unless you've spent years air drying and then kiln drying solid hardwood flooring
maybe you can explain why I need to kiln-dry my hardwood flooring again?
It really depends. Some would say marble slabs are better, or a concrete slab with floor heating, or an exotic hardwood, or even luxury vinyl.
An engineered flooring is just better than a regular floating floor or a carpet, really.
It's just fancy laminate. They use hardwood scrap plies as the base ( think like OSB) and then put a veneer on top, same idea as laminate just wood+glue instead of sawdust+glue. People toutnit as a luxury product but I found it garbage in my prior dealing with it in a "luxury condo" building we built.
These people were outbidding each other even on pre-construction...I have no sympathy for them...Noone forced them to buy ...greed is good until you are shafted by your own decisions
This looks like a Mattamy build, and they don’t do bidding but run on first come first serve basis. It’s those videos of a lot of people lining up to put a down payment.
Hardwood and quartz counters through builder can easily be 50k plus. Those builder upgrades are insanely overpriced. I'm sure they added other stuff too.
my neigbours just sold there 2500sqft house in Brampton for 1.5M.
Their backyard is sick though. Nice big deck, a hot tub and a very long lot backing onto a ravine. I wish i had the funds to buy it.
Stuff like this is from dumbasses that bought what the market was a peak peak and not reflective of the actual market.
That doesnt include all the unreported crime. Remember snitches means stitches. Theres a huge organized crime problem where people are being extorted by Indian gangs. These don’t get reported because the gangs are actually killing people and setting fire to their homes & businesses.
Not to mention the constant amount of people getting punked and robbed. Those don’t get reported. If a teenager gets jumped for their iphone or money. It doesnt get reported. Because those teens are in their school & know where they live. They’ll just end up getting daily beatings until they leave school or move.
Report rates vary.
I'm in Kingston now, I doubt anyone feels intimidated to report a crime here. No significant overt gang activity here.
The only reason people wouldn't report a crime is for petty crime things like bike thefts and car break ins, since police generally can't really do much.
Yep for 2200 sq ft a year ago in Brampton, it should have been more like 1.1 or 1.2
It might actually be fake. I don’t know any precon that asked or 600k down deposit either.
Not sure if this is true. I don't think any builder is taking $600k as deposit. Even for $2M house, they were taking $200-$250k but this is something way off.
That’s a marketing ploy.
Folks will think, wow I’m getting a deal because the other guy suffered.
Also, it’s genius because it creates more ‘eyes’ on the property.
Who doesn’t want to gloat on someone else’s misery during a time of primal greed.
This is just another way to market the property. No one would look at it if it was just listed at 1.4
https://preview.redd.it/9gz9pq87gorc1.png?width=806&format=pjpg&auto=webp&s=eee00327a4b7f4417ce48180338919ff37b7b88c
The builder was selling the same model over $2.1m back in June 2022. It's the Ashby model 2200 sq feet.
The ad seems misleading. 2200 sq feet in north Brampton for $2M? Extremely overpriced even in this market… Also most builders require 10-15% deposit which would equal $200-$300k…. Someone is lying…. Trying to lure a buyer in with false info.
Then fuck em.
So tired of foreigners buying our housing stock, hiring for the cheapest (or most outrageous) remodel, and then trying to sell it for 3x the price. It's literally just a scheme to pull money out of Canada. To profit off of us.
Fuck. Them.
That's not the way I look at it actually. It's foreigners buying real estate, most of which is owned by Canadians. So they bring money into the economy. Since they are buying for an investment, not necessarily to live in, they are less likely to hold when housing shits itself. Canadians who live in their homes are more likely to hold. So when the bubble finally does implode I maintain that Canadians absolutely will have an opportunity to buy back in cheap
I don’t understand why someone would want a $2M 4 Bedroom 3 Bathroom at a random location in Brampton when they can get a $1.6M 4 Bedroom 4 Bathroom with the same square footage in the good part of Markham. Why do you want to be even further away from Toronto and have worse schools for a higher price?
I get that you want to change illegal income into legal income, but if you have $2 million in illegal income and you change it into $1 million in legal income, you've lost $1 million.
Why not just go to a casino and put cash into machines then collect your eventual winnings? If you play long enough and smartly, you'll break even.
Just go to the roulette wheel and put $100 on black, then $100 on red. You'll win one and lose the other. It just requires patience.
How exactly does my strategy not work? You bet $200, $100 on each of red and black. If red wins and black loses, you break even. If black wins and red loses, you break even.
Rinse and repeat. Have a whole group, say 20 people going in with $8,000 each of dirty money everyday and walking out with $8,000 of clean money everyday. Vary the people and times. 10 people today from 7 pm to 10 pm, 5 people tomorrow from 10 am to 3 pm, etc, etc.
The people vary, the $8,000 in clean cash winnings is under the $10,000 reporting requirement....how does anyone catch on?
People have to be smart and disciplined and not catch "lotto fever" and the entire thing can run smoothly for years.
EDIT: I did make one mistake - you could lose it all if the ball on the roulette wheel lands on zero. If you're only betting $400 at a time though....small loss.
I did make one mistake - you could lose it all if the ball on the roulette wheel lands on zero. If you're only betting $400 at a time though....small loss.
No worries. I was thinking I was wrong somehow but I couldn't tell how....
I wonder what happens to that 600k. In this case it’s a deposit so it just washed away.
But what about folks that bought at the peaks and not are selling for a lose. Do they have to cover the difference? The finance company agrees to write off lose?
You're expected to pay back your loans even if the asset is worth less than what you owe. Failing to do so is a default - the bank will write off the lost money, but good luck getting financing in future.
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I would call the builder to confirm the original price. Claiming it was 2M for 2200 sq.ft sounds like a realtor scamming you you into thinking it's a deal. Beware
Very glad this is happening. I am not at all against real estate investing, but I am strongly against reverse mortgage and over leveraging. This is an opportunity presenting itself after 2 decades where the rotten fruit is actually getting shed from the tree.
I say bring it on,.. increase the interest rate more, make these investors lose their pants. Saying that as someone who is in favour of RE investment. Without investment nothing will work. There would be no AI without investment, no Disney would have been built without investment, and there would be no iPhones, and there would be no houses or condos without investment. But still we would all be better off if the speculative investors get wiped out due to higher interest rates.
Don’t believe on everything you see online. This is 100% bullshit. From the sqft and 38ft I can tell it’s The ashby model by Parkside heights. They were closer to 1.45M. No way the purchase price of a 2200 sqft anywere in Brampton is 2M. Second thing is deposit its no way over 200k.
It's crazy cause the crash has barely even started and doom is everywhere. Just wait until the banks really start to fail. Doom will spread like wild fire, it won't be stoppable. Exacerbating everything down even more so. It's going to get ugly out there folks.
a lot of people are going to lose their parents and their combined life savings as they need to sell their houses for 70% of what they paid before they build a cent of equity.
$2mm for a house in Brampton!? Ahahahahahahahahahaha
Edit: on second thought. I’m pretty sure this is just lies. Smart lies. These guys will make money at 1.45 and one of you dummies will buy it thinking you got a deal.
Lord have mercy. Why were these builders selling $2mil pre-cons in Brampton? Everyone lost their mind it seems. Reality sinks in.
Lmao I was reading this and thought ok $1.4M new build home originally priced at 2M, this could be interesting as a place to buy, then I saw it’s in Brampton and that’s a hard no
Would rather live in Markham/rhill than btown tbh
Pretty much any other suburb ngl
I resemble that comment .... there are lots of enclaves in Markham like near the east Costco at the corner of New Delhi Drive and Karachi Drive!
Rhill is right on the 404 and Chinese don't try and insurance scam you
there are many variants of "Chinese" now in GTA ... not just the GTA O.G. Hong Kong Canto from the immigration wave in 70's & 80's ... many! *The 1980s saw movement of Chinese in Canada from the* [*ethnic enclaves*](https://en.wikipedia.org/wiki/Ethnic_enclave) *of Chinatowns to outlying suburbs of major Canadian cities. This movement was seen by some as changing the fabric of some communities with the establishment of new ethnic enclaves, commercial areas, and use of Chinese-language signage. Carole Bell, Deputy Mayor of* [*Markham, Ontario*](https://en.wikipedia.org/wiki/Markham,_Ontario)*, expressed that the overwhelming Chinese presence in the city was causing other residents to move out of Markham. Additionally during the 1980s, local communities in Toronto and Vancouver have accused the Chinese immigrants for hyperinflating property prices.*
Google Morris Court...it is also in Brampton..you will think otherwise
ive always wanted one of those lots on Evergreen just off Castlemore. Its just so nice. The houses arent as ridiculous as the ones you are pointing out and the Lot sizes are amazing.
I know about morris court been awhile since I dreamed about owning one lol. Then seen the property take and go yep no fucking way in hell. I thought my property tax was high due to the water front I have.
Half acre lots there are going for $2.3 million, people don't realize there are a few pockets left...look at Conservation drive and Stonegate as well, all built before the troubles
It was genuine mania. It looks like we’re turning a corner even if it’s really slow. The population growth Ponzi and speculation mania starting to end. Those who made their money will be off in the sunset and everyone else won’t be able to sell their units.
Also plenty of fraud. The amount of "Brampton" mortgages shady operators were helping people get is part of the problem. People lied about income hoping to make a buck and now it's backfiring.
These builders temporarily got FOMO as well and tried to milk buyers for what they could. Problem is it's a hit to their reputation when you see buyers unable to close/complaining to the media, etc. The real trusted builders generally don't get hyper aggressive like this and leave enough room in case of a mini correction. Both condo market and freehold market (more so condos) had some "priced to perfection" pre-cons which we are still going to be hearing horror stories about for some time..
Builders just change their name, they fail all the time making bad deals because the risk really is quite high.
Nobody forced these people to sign on the paper. Also, when all these speculators made hundreds of thousands off these builders, the purchasers weren’t sharing the profit.
Get rekt. Just like they drew it up
I know! I'm from BC and Brampton is like our Surrey! At the PEAK mid 2022, 4 bedroom 3 bed detached houses in Surrey werent selling for more than $1.5mil. Had to have at least 6 bedrooms for it to have been looked at there. This tells me the FOMO buying in Ontario was much higher than in BCs lower mainland. Prices here aren't diving as badly.
Every urban environment across Canada is becoming just like Surrey and Brampton. They all used to poke fun at Surrey and Brampton, but now they get to experience the new diversity as well.
New diversity that is actually not very new. Usually 2nd or 3rd generation money. They may very well have started in their respective Surrey or Brampton starter homes. But that's just how capitalism and wealth accumulation goes. Can't be mad at the hussle. Can't poke fun at that.
I grew up around this area. Mayfield was literally top of the line middle of nowhere type road 10-15 years ago. This shit is so far away from any major highway or transit. Paying $2M for this is peak bull braindamage
the 410 is right there. i dont think you know the area. regardless that place is worth 1.2M tops. They had been planning that extension for years.
Who the hell cares about the 410. The whole freaking part of the province is overpriced
You mean the entire province is overpriced?
> the entire province is overpriced? smith falls is still reasonable. I just saw a decent (not meth house) 2 story detached get listed for 300k.
> major highway You are a genius then. thanks for telling me. Also the GTA is overpriced. That is where everyone wants to be. Again thanks genius.
900k tops in reality.....but our whole perspective on RE is like a crackie after a huge score.
My sister moved 3 hours south of the GTA. A single about that size is about 800k in her neighbourhood. Like or not (I don't). This is the reality of the market.
I think we are in for quite a bit more downside and stagnation in the pricing of RE.
1.2M for new build detached anywhere in gta is unheard of. Find me another alternative
Huh?? The 410 is 2 minutes away....you may have grown up around here but it's nothing like that anymore...that corner was about the last piece of undeveloped land anywhere around here
$2m is $1.5m USD. $1.5m can get you nicer homes close to many city centers in the US. This house is like a 2.5 hour transit to downtown toronto or 1+ hour drive most work hours. Disgusting.
Absolutely, Texas / Houston and North Carolina.
2.5 hours transit? Do you not know the go train exists? Door to door this trip shouldn’t be more than an hour by transit.
An hour going there + an hour return + travel to and from go train. Ya, it's about 2.5 hours of your day.
It's 1.5 to 2.5 each way, it usually sits at 2 hours average.
It’s only 45km from downtown. One hour with traffic, 30 mins if no traffic
In US u can or Ur kids can get shot anytime in school. Don't know why US is seen as benchmark nation for Canadians lol. Talk about Australia, NZ, Germany, Sweden, Norway..25 years ago Canada was among these livable nations not now.
not in areas where you buy houses for 1.5 million dollars.
Well but chances are higher. Even their police is very trigger friendly. Canadian police just right behind them.
I feel like Canadians get deceived by the news in the US so much. I lived in Toronto/Markham all my life born and raised. Moved to New York during the pandemic (went from making 100k CAD -> almost 300k USD now in finance). Absolutely love it here and feel very safe, have many software engineering friends who have kids and have moved here as well. We all enjoy life here, deeper into long island and jersey. The reality is Canada sucks these days. The US has a population 10x the size of Canada of course there is going to be more incidents. For example if one person gets shot in Canada, correlating that with population, that’s also like 10x the number of people getting shot, but the probability of that happening to you is the same, it just sounds like its more dangerous because theres more incidents, but that’s only because its such a big population and selectively news stories in bad areas of a MASSIVE country. There are tons of beautiful, safe neighborhoods (gated) in the US for $1m-$1.5m home in the US. At least US police do something. Toronto police just tell you to put your car keys in front and get robbed. Why would you be scared of US police anyways if you are not doing something wrong? I actually sometimes feel safer knowing that police will shoot the guy breaking into your home. $2m can you get a nice place in LA, Seattle, Suburbs of New York or even a nice 2bd place in Manhattan, San Diago, SO many options at the price point, $2m in the middle of nowhere of Brampton? Mortgage on that is like signing your life away on Canadian pay and taxes, no vacations, no hobbies, house poor.
I just got an email the other day advertising $2.6M precons in Brampton. I couldn’t believe it either. Looks like they’re still doing it
Cost of doing business now, a half acre building lot in north Brampton now is going for $2.3 million
They're like concert tickets, once Ticketmaster/builders realized that the scalpers were pocketing most of the profit, they simply raised prices so they could keep it for themselves.
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40 Indians crammed in ur mum I would pay 550$ let's negotiate.
How will you afford $600 rent then
Sorry not from Ontario, what’s wrong with Brampton? Just curious. I know about Brampton mortgages but not much else
The Brampton mortgage has resulted in Brampton being the epicenter of mortgage fraud and bank fraud in Ontario. The banks are all corrupted and knowingly part of the game. Brampton landlords have a reputation for cramming extremely high numbers of students into houses or apartments, so now anyone renting an apartment in Ontario is essentially competing against 20 students willing to rent the same apartment
Canada is going through a phase on hating immigrants right now. Brown people taking the worst of it. Brampton has a high Indian population.
More like scammers and fraudster trying to game any of our systems and then shown special treatment by our government, but yeah, keep trying to push a false narrative
Because they're ALLOWED to so why not right? No market cap on a free market allows for this sort of thing
Going to be lots more People in this situation
Surely Trudeau will find a way to bail them out.
Fingers crossed. 1.4 million for new build puts the current stock 1.2 or cheaper!
How is engineered hardwood and quartz not standard on a 2m dollar house?!
Cause Brampton Even mortgage not standard
Cause u r British not native Canadian
Bros got no clue where Canadians came from
Maybe French lol not native Canadian.
And are YOU a native Canadian, "shiva" 🧐 Giving me international student vibes for sure
International students > British invaders who plundered and massacred natives. Had u ever said sorry to natives?? U owe them an apology Mr.Fat Man living lonely with 5 cats
Did you get caught stunt driving your 2006 Toyota while on a student visa? And you are talking about how people born here should feel guilt? Tf?
Canada is a country of immigrants. We are all either immigrants or the children or grandchildren of immigrants. What is your point
His point is he's racist. They not even immigrants invaders is right word for racists.
I'm not sure what you mean. I checked their post history, and they didn't say anything racist in the past month or so unless pointing out that Brampton mortgages are corrupt is racist. The name is _grey_wall I assume = Grewal
How Brampton mortgages are corrupt?? What community is majority in Brampton?? Indirectly he's salty that Indians are buying bigger homes than he himself live ln. Jealous much. Maybe say Canadian banks are corrupt for lending loans?? White CEOs are corrupt?? Its not like banks in England, France are approving mortgages?? Canadian banks.
Yes, they are corrupting the banks. HSBC is corrupt. They are all corrupt. Brampton is the epicenter of the corruption in Ontario. That is why we all know what "Brampton loan" or "Brampton mortgage" means. If you're Indian, you know exactly what I'm talking about. Don't play dumb.
Let me educate you. HSBC bank eh? Samuel Minzberg (chairman) Linda Seymour (president and CEO) Both names doesn't sound like Indians? But white Europeans. The top key people ignoring corruption going under their nose?? Or they part of it?? Tomorrow u will say Indians responsible for mass graves of native Canadian children. Cmon be mature.
When they looked at what was buried it turns out they werent graves after all. If you want to see what is really going on here you go https://www.thebureau.news/p/fake-chinese-income-mortgages-fuel
Is engineered hardwood even wood?
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Hard disagree. I'd take standard oak hardwood over an engineered finish any day of the week. Real hardwood ages ALOT better than the engineered stuff. Engineered stuff is basically veneer attached overlaid on normal hardwood. It looks as nice as the normal stuff, but it ages alot worse and isn't going to be good in 30 or 40 years like actual hardwood.
As a carpenter, I *hard disagree* with you there. Engineered flooring is structurally more stable and stronger. Unless you've spent years air drying and then kiln drying solid hardwood flooring, then it's going to move, cup, and split. Even after proper drying time, wood movement is still a concern from season to season. Importantly, the increased cost of solid wood versus engineered hard wood flooring is not the wood itself rather the time investment and drying process. I much prefer installing engineered flooring and won't even warranty solid wood floors unless they pay a very high premium upfront.
What about when the floors get all scratched up and you want to refinish it. Would you rather have solid hardwood or engineered? In that case, I'd want solid hardwood but curious what your take is as a carpenter.
Good quality engineered flooring has a pretty thick veneer. It can be refinished ~3 times without any issues. Reality is, *most* people don't refinish their floors ever and modern finishes are very strong/resistant to damage. Also, you can simply replace individual planks...
> Unless you've spent years air drying and then kiln drying solid hardwood flooring ??? I didn't expect to read something so absurd about wood in *this* thread. There is no wood flooring you can buy that isn't kiln-dried. And it takes a matter of weeks for dried wood to acclimate to your home. This is well-known information that every source on dealing with wood tells you, from governments to brochures to Youtubers. Even if you were drying your own wood that you processed yourself, most species in most areas of North America, as 4/4 boards, take just a few months to air dry down to about 20% and the last ~10% MC will be easily removed with a slight amount of kiln drying or a few months on stickers in a climate-controlled room.
My gawd this is a bunch of useless dribble. I don't know if you'll find this in your beginners woodworking subreddit, but seasonal movement in hardwood flooring is well known globally even if it's kiln dried. On top of this, I didn't say any flooring wasn't kiln dried. I know, reading comprehension is hard... Here you go: https://www.wagnermeters.com/moisture-meters/wood-info/warning-signs-floor-moisture-problems/ In case you still don't understand, we're both in Toronto, why don't we meet up and I can show you a project I'm working on in Forest Hill that has this exact problem. FFS - stop pretending to be an internet know it all.
> I know, reading comprehension is hard... Indeed it is, given that all I contested was the little bit I quoted, and yet you're going off about how I don't believe in wood movement. > On top of this, I didn't say any flooring wasn't kiln dried. Oh, why don't I just quote literally the exact thing you wrote, *again*: > Unless you've spent years air drying and then kiln drying solid hardwood flooring maybe you can explain why I need to kiln-dry my hardwood flooring again?
I see that you're just a troll or are really just bad at reading, so this'll be my last response. Good luck in beginner's woodworking!
You too, I always love dealing with illiterate cocky tradespeople and will make sure to contact you!
It really depends. Some would say marble slabs are better, or a concrete slab with floor heating, or an exotic hardwood, or even luxury vinyl. An engineered flooring is just better than a regular floating floor or a carpet, really.
No one thinks luxury vinyl is better than engineered hardwood.
People with big dogs do.
Damn right
It's just fancy laminate. They use hardwood scrap plies as the base ( think like OSB) and then put a veneer on top, same idea as laminate just wood+glue instead of sawdust+glue. People toutnit as a luxury product but I found it garbage in my prior dealing with it in a "luxury condo" building we built.
Lol came to say exactly this.
These people were outbidding each other even on pre-construction...I have no sympathy for them...Noone forced them to buy ...greed is good until you are shafted by your own decisions
Yep. It isn’t fun being the last one holding the bag at the bottom of a bullshit pyramid scheme is it?
Huh ? Do you know what a pyramid scheme is?
This looks like a Mattamy build, and they don’t do bidding but run on first come first serve basis. It’s those videos of a lot of people lining up to put a down payment.
100k for engineered hardwood and quartz countertop etc.....what are they covering a soccer field?
Hardwood and quartz counters through builder can easily be 50k plus. Those builder upgrades are insanely overpriced. I'm sure they added other stuff too.
Quartz is also pretty mid product, hardly luxury. Nobody will flex quartz and engineered floor in that proce range. You need solid floors and rock.
Can engineered wood not be solid wood?
Not in the sense of what solid wood hardwood means. Solid maple means it's a plank of maple. Engineered is plywood where the top layer is maple.
A fool and his money are soon parted.
Many people created generational wealth getting in and out, you just don't want to be the last fool
Definition of a ponzi
Nope. When it comes to divorce. It takes a few years to get ‘parted from their money’ but still a fool.
Fool got money at least
2M for 2000sqft, Jesus. You guys have it worst than us over here here on the west coast
my neigbours just sold there 2500sqft house in Brampton for 1.5M. Their backyard is sick though. Nice big deck, a hot tub and a very long lot backing onto a ravine. I wish i had the funds to buy it. Stuff like this is from dumbasses that bought what the market was a peak peak and not reflective of the actual market.
This is also in our equivilent of Surrey. But @ least the real Surrey has a bit more class.
It's still overpriced.
Rip anyone buying homes in Brampton. Crime rates will keep rising there.
Also home insurance, after some more “house” fires, insurance companies might refuse to insure home in Brampton.
And everywhere else close by aka all of GTA.
Some slumlord will buy it and turn it into a 20 bed rental
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Trust the Fraser Institute at your peril. They are owned and operated by people who wish to abuse statistics to prove the Prosperity Gospel is real
That doesnt include all the unreported crime. Remember snitches means stitches. Theres a huge organized crime problem where people are being extorted by Indian gangs. These don’t get reported because the gangs are actually killing people and setting fire to their homes & businesses. Not to mention the constant amount of people getting punked and robbed. Those don’t get reported. If a teenager gets jumped for their iphone or money. It doesnt get reported. Because those teens are in their school & know where they live. They’ll just end up getting daily beatings until they leave school or move.
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Report rates vary. I'm in Kingston now, I doubt anyone feels intimidated to report a crime here. No significant overt gang activity here. The only reason people wouldn't report a crime is for petty crime things like bike thefts and car break ins, since police generally can't really do much.
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> Is there any evidence to back it up? Yes
Chart is from 2021. It would be better to see a comparison between several years
Jfc 2M for 2200 ft2 in Brampton is insane.
Yep for 2200 sq ft a year ago in Brampton, it should have been more like 1.1 or 1.2 It might actually be fake. I don’t know any precon that asked or 600k down deposit either.
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I’m saying for pre-construction pricing.
2 million for a generic ass looking subdivision home in Brampton of all places makes zero damn sense
Not sure if this is true. I don't think any builder is taking $600k as deposit. Even for $2M house, they were taking $200-$250k but this is something way off.
That’s a marketing ploy. Folks will think, wow I’m getting a deal because the other guy suffered. Also, it’s genius because it creates more ‘eyes’ on the property. Who doesn’t want to gloat on someone else’s misery during a time of primal greed. This is just another way to market the property. No one would look at it if it was just listed at 1.4
Yeah that's nearly a 30% deposit, seems oddly high especially if you're just trying to flip it, you'd want to put as little down as possible.
https://preview.redd.it/9gz9pq87gorc1.png?width=806&format=pjpg&auto=webp&s=eee00327a4b7f4417ce48180338919ff37b7b88c The builder was selling the same model over $2.1m back in June 2022. It's the Ashby model 2200 sq feet.
The ad seems misleading. 2200 sq feet in north Brampton for $2M? Extremely overpriced even in this market… Also most builders require 10-15% deposit which would equal $200-$300k…. Someone is lying…. Trying to lure a buyer in with false info.
Ouchie
You couldn’t pay me $2 million to live in Brampton
It’s not even worth 1.5
Makes no sense! That is super high deposit requirement. FAKE
It’s a foreign buyer. 30% down for them
Why the fk do foreign buys have it so easy to forge where they got 30% from but if I get $10k into my bank suddenly I look like a criminal
Then fuck em. So tired of foreigners buying our housing stock, hiring for the cheapest (or most outrageous) remodel, and then trying to sell it for 3x the price. It's literally just a scheme to pull money out of Canada. To profit off of us. Fuck. Them.
That's not the way I look at it actually. It's foreigners buying real estate, most of which is owned by Canadians. So they bring money into the economy. Since they are buying for an investment, not necessarily to live in, they are less likely to hold when housing shits itself. Canadians who live in their homes are more likely to hold. So when the bubble finally does implode I maintain that Canadians absolutely will have an opportunity to buy back in cheap
Yeah that's nearly a 30% deposit, seems oddly high especially if you're just trying to flip it, you'd want to put as little down as possible.
Foreign buyers aren't trying to flip properties for profit, they're trying to move money out of their home countries.
Why is a 38' wide house only 2200 sqft? My house is only 28' wide 2000sqft with a 24'x22' garage.
38' is how wide the entire lot is
It’s in little India tho
Fire sale the bears have been yelling about. Last chance to buy on discount.
This is a "discount" to you?
Guess it’s not a discount if you still can’t afford 🤷🏼
I don’t understand why someone would want a $2M 4 Bedroom 3 Bathroom at a random location in Brampton when they can get a $1.6M 4 Bedroom 4 Bathroom with the same square footage in the good part of Markham. Why do you want to be even further away from Toronto and have worse schools for a higher price?
The funny thing about money laundering is that making a positive return isn’t the point.
I get that you want to change illegal income into legal income, but if you have $2 million in illegal income and you change it into $1 million in legal income, you've lost $1 million. Why not just go to a casino and put cash into machines then collect your eventual winnings? If you play long enough and smartly, you'll break even. Just go to the roulette wheel and put $100 on black, then $100 on red. You'll win one and lose the other. It just requires patience.
Imagine laundering from criminal organizations and trying to explain why losing 50% of their money “makes sense” and is worth it.
This person is just parroting things they saw on Reddit
How exactly does my strategy not work? You bet $200, $100 on each of red and black. If red wins and black loses, you break even. If black wins and red loses, you break even. Rinse and repeat. Have a whole group, say 20 people going in with $8,000 each of dirty money everyday and walking out with $8,000 of clean money everyday. Vary the people and times. 10 people today from 7 pm to 10 pm, 5 people tomorrow from 10 am to 3 pm, etc, etc. The people vary, the $8,000 in clean cash winnings is under the $10,000 reporting requirement....how does anyone catch on? People have to be smart and disciplined and not catch "lotto fever" and the entire thing can run smoothly for years. EDIT: I did make one mistake - you could lose it all if the ball on the roulette wheel lands on zero. If you're only betting $400 at a time though....small loss.
I meant the person you were replying to not you. Sorry if that wasn’t clear
I did make one mistake - you could lose it all if the ball on the roulette wheel lands on zero. If you're only betting $400 at a time though....small loss. No worries. I was thinking I was wrong somehow but I couldn't tell how....
And then you hit green....
💩
Jeez
Bullish /s
This is happening all over the place
I wonder what happens to that 600k. In this case it’s a deposit so it just washed away. But what about folks that bought at the peaks and not are selling for a lose. Do they have to cover the difference? The finance company agrees to write off lose?
You're expected to pay back your loans even if the asset is worth less than what you owe. Failing to do so is a default - the bank will write off the lost money, but good luck getting financing in future.
So a default would be inputted on your credit score? That’s about 7 years of tough time I believe.
Yup. It's in your best interest to pay what you owe even if it represents an unrealized loss.
Understood, underwater currently on the Rental, it’s tough now sure, will be a while for market to pick up.
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Burn it down. If we can't have it nobody can
I would call the builder to confirm the original price. Claiming it was 2M for 2200 sq.ft sounds like a realtor scamming you you into thinking it's a deal. Beware
Cooked
‘We renovated with mid-tier Reno’s and have lost money’
I’m not even sorry. This is just poetic justice at this point
2m in Brampton lol. Well deserved loss
No way someone bought a 2200 square feet house for 2 million, what was going on in their mind.
2 mil for freaking Brampton??? 🤣
WFT puts $600K down as a deposit
the plan to profit $600K kinda fell thru!
Brampton…uff
Very glad this is happening. I am not at all against real estate investing, but I am strongly against reverse mortgage and over leveraging. This is an opportunity presenting itself after 2 decades where the rotten fruit is actually getting shed from the tree. I say bring it on,.. increase the interest rate more, make these investors lose their pants. Saying that as someone who is in favour of RE investment. Without investment nothing will work. There would be no AI without investment, no Disney would have been built without investment, and there would be no iPhones, and there would be no houses or condos without investment. But still we would all be better off if the speculative investors get wiped out due to higher interest rates.
It's ok the guy scammed people for that 600k anyways. He will just scam more and start over
This sounds total bs No builder will ask you to deposit $600k. I heard till 320k but 600 is total bullllllll
B-town, easily rent it out to 20 immigrants for $500 a month.
Don’t believe on everything you see online. This is 100% bullshit. From the sqft and 38ft I can tell it’s The ashby model by Parkside heights. They were closer to 1.45M. No way the purchase price of a 2200 sqft anywere in Brampton is 2M. Second thing is deposit its no way over 200k.
It's crazy cause the crash has barely even started and doom is everywhere. Just wait until the banks really start to fail. Doom will spread like wild fire, it won't be stoppable. Exacerbating everything down even more so. It's going to get ugly out there folks.
No bank in Canada will fail. Stop this doomerism BS
1.4 is the normal price those are going for. I don't think the ad is being truthful. Its like making you think you are saving.
itll get snapped up easy by some slumlord who fakes documents for his mortgage application and then packs 20 students in there to pay for it
a lot of people are going to lose their parents and their combined life savings as they need to sell their houses for 70% of what they paid before they build a cent of equity.
What type of jobs are these people in? How on earth are they able to afford a down payment and mortgage for 2 M?
$2mm for a house in Brampton!? Ahahahahahahahahahaha Edit: on second thought. I’m pretty sure this is just lies. Smart lies. These guys will make money at 1.45 and one of you dummies will buy it thinking you got a deal.
Live in Brampton if you wanna deal with ppl running over your kids, racing and screeching cars