It feels so normal here

Another warm sunny day in Ottawa. Here’s what I get for having given up on the “best place on earth”:

– more cultural activities
– people who are polite and say hi to you on the street
– neighbourhoods that feel like neighbourhoods
– ethnic diversity but not segregation
– no homeless people outside of downtown
– breakins are regarded as newsworthy
– much better job opportunities

I can break the RE market into three sectors:

– Gatineau, Quebec
Prices that are actually reasonable. $200K gets you this in the English-speaking community of Aylmer:

http://passerelle.centris.ca

– Generic Ottawa
Overpriced but if you really want to buy, you won’t become a debt slave. $300K gets you this in Silicon Valley North:

http://www.realtor.ca

– Trendy Ottawa
Definite bubble territory, but still more for your money than Vancouver. This $1.2 mil house in the Glebe likely would not rent for more than $3500/month:

http://www.realtor.ca

Compare with this rental:

http://ottawa.en.craigslist.ca

Or you can rent, there’s lot of quality stock, the landlords aren’t psychos and people don’t treat you like a leper.

Enjoy the rain.

Sort by:   newest | oldest | most voted
Donald Trump
Guest
Donald Trump

Ah yes…..as I comb my flaxen hair,…..practice my patented squint , emerge from my Occupy Vancouver tent , anyone know where I can have a shit, shave and shower ?

RaggedyRenter
Guest
RaggedyRenter

Pick your poison for the next 1-2 years:
The economy gets better, interest rate resets to normal, 10% (650,000) who can’t afford 1% increase would eventually default.
The economy gets worse, interest rate goes to emergency rate again, unemployment rises and paycheque-to-paycheque Canadians would default.

Oilman
Guest
Oilman

A collapsing European economic union, that necessitates a massive rate cut bodes well for housing? These rates are an indication that things are royally screwed in the world. This is a calamitous enough event to give people serious pause when it comes to making the single biggest financial decision in their lives. I hope.

Troll
Guest
Troll

@E: Rates have nowhere to go but up..remember?

Manson
Guest
Manson

@E… Means anyone with a variable mortgage pays less to live..and renters pay the same or more.

taylor192
Member

@fixie

You have a reading comprehension problem, how about you fix that before replying.

I didn’t imply Ottawa winters are a constant -40C, I said there’s usually a week of -40C once a year. Just like I won’t say it rains all the time in Vancouver, cause it doesn’t, and when it does its not “rain” as in the downpours I was used to in Ottawa, it just drizzles in Vancouver. In fact very rarely does Vancouver actually gets a significant downpour for how much rain we do get.

Is that concise enough for you? or would you like to keep nit-picking things you don’t even understand? Let me know so I can label you appropriately.

taylor192
Member

@patriotz

Good you can find 22 municipal jobs, can you also find the news articles stating the mayor wants 4000 cut?

I love how everyone is so literal lately. Hiring freeze doesn’t mean no hiring, it means no new positions. FFS. If a position comes free cause someone vacates it, it can be filled. Yet in the federal government even this is being clamped down on.

E
Guest
E
jesse
Member

@Makaya: Keen's stance is well known, welcome to the shadows. And welcome to banks becoming more conservative in the years to come. Just a hunch.

Donald Trump
Guest
Donald Trump

Quote:

I met more then a few characters who did do well in Vancouver. I knew an honest to God Chinese mobster who was doing quite well. I knew a few strippers who made excellent money under the table so lived well. I knew a chick whose dad built a railway company and gave her a VP job though she had no education at all.

===========================================================

Yeah…..so….?

Respect the indegenous economy…or STFU.

I wouldn't lie to you.

Donald Trump
Guest
Donald Trump

Scullboy:

Lobster is on sale here for $7.99 lb( large Lobsters 3-4 lbs) at Superstore.

That is Waayyy too cheap,…… given a drop of even 50 cents a lb in Lobster prices will cause the Maritime economy to crash (give or take the odd Maritime Celtic music act).

PS Tell the Maritime Lobster cartel to up the prices …. or thems herring chokers are fired !!!

Donald Trump
Guest
Donald Trump

#129 @Real Turd Detector:

Due to hourly BoTox shots, my currently frozen squint affects my vision.

Is your handle "Realtor Detector" or " Real Turd Defector" ?

Best place on meth
Member
Best place on meth

So far average sales in November are the same as last year while average listings are 35% higher.

The trend of high listings and high inventory continues.

paulb.
Guest
paulb.

New Listings 179

Price Changes 85

Sold Listings 87

TI:15768

http://www.laurenandpaul.ca

rp1
Guest
rp1
#119 & #126 @Manson: "why does the idea of financial turmoil make you happy?" HIgh prices are the problem, and the sooner they is corrected the less turmoil there will be. Unfortunately people have been grossly overpaying for housing for years, and when 11% of people can't afford a 1% rise in interest rates, American style doom-and-gloom could be in the cards. Those people are just like subprime borrowers. Some may have good jobs now, but their debt is simply way too high and leverage is what kills. The time for a sensible correction was in 2009. We didn't get it. Instead we had the government approve as many "high risk" borrowers as possible at rock bottom interest rates. Are those loans going to be good? How could they be? And we've re-inflated the bubble to new heights. More people… Read more »
scullboy
Member
I think it's kind of funny when people sneer that someone can't "afford" Vancouver. If you want to pay a ridiculous sum for substandard housing (purchase or rentals in my opinion) you can certainly "afford" to live there. Hell, I was broke and unemployed for quite a while, and I still pulled it off. The question isn't so much "can I afford to live here". It's more "can I succeed here?" or perhaps "Can I be happy here". This is true for *any* city, not just Vancouver. I'll be the first to admit I had a really hard time getting ahead in Vancouver. I'm not a dumb guy (though you might infer that from my crappy typing). I have a good education. I've regularly invested in my own re-training over the years. I have quite a few professional certifications and… Read more »
Anonymous
Guest
Anonymous

have you got a job yet? keep checking on craiglist, rent should be a bit cheaper than vancouver.

registered
Member
registered

140 jesse Says:"Troll is trolling. No food for you."

How can you tell the market is soft? They're baaaackk….

Makaya
Member
Makaya

@jesse:

from the article: "It is true that one person's debt is another person's asset, but it is equally true that banks create money when they lend."

I remember some weeks ago having a conversation about that over at Ben's blog. Turns out that Banks do create money after all…

$$ Cha Cheng $$
Guest
$$ Cha Cheng $$

Other then few dates it is uphill battle in this city.

_______

Ah, to be a twenty something again trying to get ladies in Vancouver…

Good luck bro…you will need it is a renter….

Best to move and come back when they are desperate…like in their 30s and 40s….

jesse
Member

@DEFAULT NAME: "You couldn’t afford Vancouver. Too bad. "

Troll is trolling. No food for you.

Fabio
Guest
Fabio
@Ottava Beuties "Lol – if you have to ask you have never been outside of Vancouver." Yes I have been outside Vancouver but I have not lived for long time in order to figure out the ladies in other parts of Canada. what can you find out in 5 days in Toronto? I have travelled extensively to Europe and South America and never had problem meeting the ladies. In Vancouver I have that problem. Most ladies that I clicked in Vancouver were actually from the Prairies. It has to be something in their food but all of them are super nice. Other then few dates it is uphill battle in this city. I guess as you say my drawbacks are that I am not “established” dude with unlimited discretionary income. I don’t flash with expensive cars and I rent. Anyway,… Read more »
Anonymous
Guest
Anonymous

@Ottawa Beauties:

"Vancouver is the land of 25 year old virgin men"

Gee do you happen to know one? Hehehe..

Anonymous
Guest
Anonymous

@patriotz:

"Hiring freeze doesn’t mean no hiring, it means no new positions"

Anyone with a shed of common sense would understand any large organization like the federal government could never stop replacing key positions even under a "hiring freeze".

Good luck in your move but the desperation to justify Ottawa is somehow superior to Vancouver is pathetic. You couldn't afford Vancouver. Too bad. Those of us who can enjoy it. That doesn't mean we have to buy a house here. Ottawa is overpriced too considering where you have to live. Good luck in finding employment in Ottawa.

jesse
Member

Steve Keen on how his "contrarian" views on housing market bubbles brought significant criticism: http://ineteconomics.org/blog/inet/steve-keen-cre

Luckily bloggers remain behind a shroud of anonymity 🙂