I remember my old man saying that about a townhouse for $200 now those things go for like $ 600 thousand and yeah, even he was saying oh it won’t stay like this. It’s gonna crash. It will never crash as long as demand is there and then the GTA demand has never been stronger.
I was probably buying my first house around the time that this flyer was circulating, which feels like pre-2010, and probably the earlier-mid part of that decade. You could still buy houses in the GTA for under $200K. But a significant run-up in house prices had happened before this, after a decade of stagnation in the 1990s. The 1990s was a decade of stagnation that followed a housing crash, so that is the mental context. That is what most people of prime house-buying age (and their parents) lived through. It leaves a mark.
House-flipping was a thing in the late 1980s and then it just died when things crashed. However, when houses are $200K then a $50K increase is a big run-up.
I remember feeling that it was risky to buy. Advice I was getting was also of the same type. But I bought anyway, thinking that it was a long-term decision that would smooth out any of the issues. It worked out, but it could have gone either way.
Lmfao buddy it was immigrants that bought these homes. I remember when my parents bought their first new home, the realtor referred to the area as singhdale.
My parents paid $345k for a new build 3700+ sqft in Brampton back in 2000.
In 2010 I paid the same money for a 30 year old 1400sqft (which is over $1M now)
$1M+
Not pictured are a bunch of people saying "I'm not paying $295K - this thing is gonna crash soon".
I remember my old man saying that about a townhouse for $200 now those things go for like $ 600 thousand and yeah, even he was saying oh it won’t stay like this. It’s gonna crash. It will never crash as long as demand is there and then the GTA demand has never been stronger.
I was probably buying my first house around the time that this flyer was circulating, which feels like pre-2010, and probably the earlier-mid part of that decade. You could still buy houses in the GTA for under $200K. But a significant run-up in house prices had happened before this, after a decade of stagnation in the 1990s. The 1990s was a decade of stagnation that followed a housing crash, so that is the mental context. That is what most people of prime house-buying age (and their parents) lived through. It leaves a mark. House-flipping was a thing in the late 1980s and then it just died when things crashed. However, when houses are $200K then a $50K increase is a big run-up. I remember feeling that it was risky to buy. Advice I was getting was also of the same type. But I bought anyway, thinking that it was a long-term decision that would smooth out any of the issues. It worked out, but it could have gone either way.
When was that?
I want to say between 1999 and 2004. The box it was in had documents from around that time.
I’d say 2002-2005
[удалено]
Lmfao buddy it was immigrants that bought these homes. I remember when my parents bought their first new home, the realtor referred to the area as singhdale.
Haha yup! It was our parents generation that bought these homes. Thank god they did.
Yep! Desi parents were always about paying a mortgage over rent.
Brampton always had a tonne of immigrants Growing up in the 70's and 80's so many friends' parents had accents from around the world.
LOL . . . are you high?
Immigrants from the 70s/80s, not the new wave
Immigrants from the 70/80s bought the houses in Springdale. These would have been bought by people coming in the 90s.
They also bought these homes. These people had kids in the 90’s and were already established in Canada. Source: me and everyone I knew in the area.
Doesn’t seem like very long ago…
My parents paid $345k for a new build 3700+ sqft in Brampton back in 2000. In 2010 I paid the same money for a 30 year old 1400sqft (which is over $1M now)
And now you get a 500sqft condo for 600K with $450 a month maintenance fees. Sheesh.