65
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 24 Jul 2025
65 points (100.0% liked)
Ontario
3095 readers
3 users here now
A place to discuss all the news and events taking place in the province of Ontario, Canada.
Rules
- No bigotry - including racism, sexism, ableism, homophobia, transphobia, or xenophobia.
- Be respectful, especially when disagreeing. Everyone should feel welcome here.
- No porn.
- No Ads / Spamming.
founded 4 years ago
MODERATORS
neat.
sell them instead so people own and are not beholden to your “affordable” market values. I guarantee not NONE want to buy. The market is too expensive.
So my rental basement suite, I rent out for 1200 in a major Canadian city. The house is worth 650,000. A mortgage on that house at todays interest rates would be 3650. Insurance is another 150. Property taxes are 300. So monthly fixed costs of ownership are 4100. But there's always something to fix so add on a very modest 300 a month for that and 4400 is a reasonably moderate estimate.
SO explain to me how the person who now pays 1200 a month is going to come up with more than THREE times their rent per month to buy a house? And theres no way that house is dropping so far down in value that 1200 is anywhere close to being able to buy it, even if it lost HALF its value. Give me your solution to how that would work.
Mom and pop landlords provide the cheapest rentals on the market. Our investment in rental housing is absolutely necessary in providing a place for those on the lowest budgets.
ahh ok. my fault - you rent rooms. I was speaking to the rental of houses. you could sell the suites however. individually. condos are a thing.
No, I rent houses. That basement suite is the lower suite, the upper suite is a separate unit. My point is that they are far too big an investment for renters to actually be able to buy and many of my renters dont WANT to buy. Some do and several have done so but thats the minority.
And condos are a very bad investment. Condo fees and insurance, plus emergency repairs on them make them highly expensive. Would never touch one.
who said a thing abt investment. this is housing
Well, no matter whether you intend it to be or not, every purchase of real estate is an investment.
how so?
Anything you put thousands of dollars of your own money into is an investment - collector cars, crypto, artwork, gold, your Star Wars collection, and housing. Whether those are a GOOD investment or not is another question, but its definitely an investment.
if I purchase a home because I need a place to live, it’s not an investment. Investment comes when sale is realized. On the point of the seller. I own my home. I will not sell it. It is not an investment. It is where I live.
Whether you sell it or not, that doesnt change the fact that you have invested a great deal of money into it, therefore it is an investment. Its status in your life has nothing to do with whether you plan on making a profit on it or not, its merely the definition of investing money.