| reply to donoreo
Re: Average house price in TO: $606,600 Till the money ran dry, Dubai's $582 billion construction boom was financed by lenders flush with oil money and safe haven seeking black money.
Canada is not Dubai where money from drug dealers is converted to legal cash to buy houses. In Canada they follow rules where the cash is from and not like Dubai where Cash is King and no questions asked. All this cash in Dubai was from Drug dealing, Money laundering and many illegal activities Like "Havala". Which I have used almost that many years before when this poster was not even born. It still gives you 20%-25% more cash in converted Asian currencies. This goes on in Toronto but not much these days. This is money goes to "Terrorists", distributed or used for such activities. You pay cash in in Dubai currency (or ay M.E currency)and one phone call is made to country where money is received. Its so tight, secretive and "Reliable" than any bank in the world with no "records". You pay in the evening and money is delivered in morning by 10.00 am.
You dont get citizenship in Dubai after 3 years like in Canada. But you can live there as long as you have money. Thats is why all the crooks, Gang leaders, deported Presidents and many unwanted, despised people live there and that part of the world.
This Poster or people born in powerful country forget their history in that part of the world. But I will jog the memory. WHy Dubai became such economic power.
Agha Hasan Abedi.
Now Google baby. Now Abu Dhabi is not Dubai. But history will describe the connections. I was there and this poster was not even born.
The real estate boom is nowhere like Dubai. I am not denying that Toronto dont have drug problems. Toronto is also known as major hub in drug dealing. But its not that "Like" Dubai. The way things handled are much different. If you have visa issues you call, chief of Dubai Police or Your "Arabab" or owners, who has government contacts and it gets solved in 24 hours. Yes we have some killers granted asylum like Dubai. But not many. But these are part of Democracies and our Asylum, immigration system. Screwed-up immigration system you can call it.
This Boom is because of "Asian" investors. They don't like to be called as "Chinese" people. Each of their cash transaction are reported to authorities and tracked by certain nations security agencies. The house prices are 20-25% overpriced in Toronto. So the crash wont be as bad as US. |
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 ARPremium,ExMod 2001-04
join:2000-09-21
Toronto, ON | the point of bringing up Dubai was not to say that Canada has a crime and law and order problem. The point was to illustrate that things can go bad in a place where everyone thinks money is unlimited and things can never go bad. Dubai had a great run but then the crash was spectacular as well.
So if 25% is the baseline in Canada, then you know when people overreact, the crash will be more like 30-35%. |
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| reply to donoreo
FYI. Here is one of 3 I could get records of.
Price in that area is or Two neighboring house Today is.
525,000
549,000
Sold: $413,100
Toronto, Ontario E05 List: $353,900
Orig Price: $353,900 Taxes: $1/2010 117 % List
DOM: 19 Contract: 10/20/2011 Sold: 11/8/2011
House Is Fire Damaged.Property May Have Been Used As A Marijuana Grow Operation.Fabulous Location.Great Lot.Incredible Opportunity For Builders & Renovators.Very Large & Spacious House.Read Schedules As Attached Prior To Showing Property. Schedules A,B,C & Indemnity Must Be Attached To All Offers, $7,000 Deposit.
No Extras.Certified Deposit Upon Acceptance Of Offer.Property To Be Purchased In As Is Condition.No Access To Upstairs Or Basement.Main Floor Showings Only.Buyer To Verify All Relevant Information Pertaining To The Subject Property.
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 pnjunctionTeksavvy ExtremePremium
join:2008-01-24
Toronto, ON
kudos:1 | Save over $100k (depending on the damage) because it might have been grow up? If I am looking at a house in that area where do I sign up.
I'm not sure why you are focused so much on drugs unless you are suggesting the odd grow-up house is having a significant impact on the housing market as a whole? |
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 donoreoPremium
join:2002-05-30
North York, ON | said by pnjunction:Save over $100k (depending on the damage) because it might have been grow up? If I am looking at a house in that area where do I sign up.
I'm not sure why you are focused so much on drugs unless you are suggesting the odd grow-up house is having a significant impact on the housing market as a whole?
You read that wrong, it was listed at 353 and sold for 413, over asking.
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The irony of common sense, it is not that common.
I cannot deny anything I did not say.
A kitten dies every time someone uses "then" and "than" incorrectly.
I mock people who give their children odd spelling of names. |
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pnjunctionTeksavvy ExtremePremium
join:2008-01-24
Toronto, ON
kudos:1 | I thought he was comparing it to the 525k and 549k houses in the area but then the sentence preceding those numbers is unintelligible. And regardless I'm not sure what's up with the focus on drugs. |
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donoreoPremium
join:2002-05-30
North York, ON | said by pnjunction:I thought he was comparing it to the 525k and 549k houses in the area but then the sentence preceding those numbers is unintelligible. And regardless I'm not sure what's up with the focus on drugs.
I see where you were going now. The house followed the norm in Toronto, it sold for over asking. If a house goes for under asking now, there is something seriously wrong with it.
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The irony of common sense, it is not that common.
I cannot deny anything I did not say.
A kitten dies every time someone uses "then" and "than" incorrectly.
I mock people who give their children odd spelling of names. |
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1 edit | reply to pnjunction
said by pnjunction:I thought he was comparing it to the 525k and 549k houses in the area but then the sentence preceding those numbers is unintelligible. And regardless I'm not sure what's up with the focus on drugs.
said by pnjunction:I thought he was comparing it to the 525k and 549k houses in the area but then the sentence preceding those numbers is unintelligible. And regardless I'm not sure what's up with the focus on drugs.
E5 should be clue to check MLS site. 
People on this forum are so naive or young not remember history? Afghanistan invasion, Mujaheddin, Drugs connection to Dubai?
Or they just remember Vietnam and Drugs?
The way the prices are going up even the Grow-op is in very much demand. But I dont think anybody on this forum will go for such houses. I wont even if it costs less. But people do buy as it costs at least 20% less than others. That's the real estate market today. Also note the real estate agents manipulating price or sometimes called as "Bidding Wars". I bought house in 1996 and sold it in by 2011. Lets see how the new house fares. Already the price increase is 12% in one year. I don't like such increase but its the trend.
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