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Canadians are actually to blame for housing crisis - developer official

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Ephraim Vecina | 28 Sep 2016, 08:15 AM Agree 0
Unchecked desire for single-detached housing is driving the growth in Canada’s average home prices, says the executive of a development firm
  • Benjamin | 28 Sep 2016, 11:43 AM Agree 0
    Couldn't agree more.
  • Rob | 29 Sep 2016, 09:33 AM Agree 0
    IMHO, when you drive around the GTA most of the developments are based on 2000 Sq Ft houses and up, even the so-called starter homes (townhouses), are 1600 and up with all the bells and whistles. Some where along the way our society became a what does it cost per month people. My generation (the bady boomers) where more concerned with the total cost with intent of paying it off as soon as possible. I don't know how anybody sleeps at night will a $3500 a month payment. Just because you make enough to pay it doesn't make it a smart decision especially with 2 income families. One person gets sick and the bubble bursts.
  • Scott | 02 Oct 2016, 11:07 AM Agree 0
    @ Rob - I agree, stupid idea to max out everything to purchase the biggest and "best" house you can afford because as you wrote, if anything happens, illness, disability, job loss, etc, you're going to have one hell of a time paying for everything.

    Personally, I'm single but I work 3 jobs and I have 4 rental properties. I'm trying to get each category to represent 25% of my income. For example, out of $100,000 I would prefer for each job to pay $25,000 ($50,000 total) and for each pair of rental properties to bring in $25,000 ($50,000 total) for a combined $100,000 in income. That way, if one job disappears, I'll only lose $25,000.

    Now......the problem? Every time I get money, it has a way of getting spent. Anyways, things all clicked now and I'm now in the debt repayment phase. Should be total debt free for 55 and then I can decide about retirement...
  • Faye | 02 Oct 2016, 05:11 PM Agree 0
    Best article so far about this subject.
  • Jeff | 05 Oct 2016, 05:50 PM Agree 0
    Completely disagree with this viewpoint - you've essentially stated that we should bulldoze the greenbelt in order to build single detached homes. Talk about a slippery slope. Blaming Canadians for wanting the dream that they've been sold their entire life isn't the way to go about this. How about as developers you create condos that are actually LIVE-ABLE - maybe then we would desire to live in them. But no, you developers want to squeeze as many micro units into these towers as possible to make as much money as possible. Before blaming your consumer (really great PR move there) how about you realize the amount of power you have and how you can create positive change.
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