Ontario | Maizeing - 4/20/2017 22:08
Some crazy stuff going on around there. Starting to remind me of the late 80s boom. Builders can't build fast enough, escalating prices, bidding wars, etc. Million dollar houses selling $200k over the ask. Insanity only goes on for so long and the bubble pops it seems. Friend of a friend is firefighter in Richmond Hill. Multi million dollar houses with matching Beemers in the drive way. He does numerous false alarm calls to those type of houses and says you would not believe how many have empty rooms or lawn furniture and crates for furniture. The car and mortgage taking it all. I suspect a half point bump on rates will send the tide out....
seems like they can't build fast enough everywhere. most of the smaller towns around here have been building like crazy and there's no sign of it slowing down at all. i'm guessing the smaller towns expanding is mostly due to people leaving the cities looking for somewhere more affordable |
150 acre farm sells for $97 mil. CAD
