Gen Z has no hope of affording a house in Toronto. To be honest, I would say for most western countries, housing just keeps more expensive.

Zapfox1

I may be wrong but it's highly unlikely
Somalis came to Canada in the early 90’s when housing was cheap. Imagine if most of the community put their ayuuto money for down payments on mortgages, they’d be filthy rich. Instead they send some money to buy land in backwards Africa because some retarded shieck told them interest is haram.
Tbh buying land and houses back home is a good investment. If you add two floors to your house and build couple apartments in each floor, You can rent it for a good total of $2000 depending on location. Talking about xamar btw not the other cities
 
Tbh buying land and houses back home is a good investment. If you add two floors to your house and build couple apartments in each floor, You can rent it for a good total of $2000 depending on location. Talking about xamar btw not the other cities
I’m sure it is. But no where near the returns you get in the west. Right now, I agree that it’s not worth investing in the west as real estate has sky rocketed in most major cities

But detached homes in Toronto and Vancouver were around 200 k in the 90’s and now are over 2 million dollars. Minimum downpayment is 5%. So if you put 5% on 200 k home, that’s 10k, the homes are now worth 2 million, that is a massive return on investment. Big missed opportunity for the Somali community. A lot of the Chinese, arabs and Indians are rich because of real estate investments.
 

Zapfox1

I may be wrong but it's highly unlikely
I’m sure it is. But no where near the returns you get in the west. Right now, I agree that it’s not worth investing in the west as real estate has sky rocketed in most major cities

But detached homes in Toronto and Vancouver were around 200 k in the 90’s and now are over 2 million dollars. Minimum downpayment is 5%. So if you put 5% on 200 k home, that’s 10k, the homes are now worth 2 million, that is a massive return on investment. Big missed opportunity for the Somali community. A lot of the Chinese, arabs and Indians are rich because of real estate investments.
Yeah interest held somali people back. We are great businessmen without the help of interest. Imagine what we could have achieved with it
 

J-Rasta

Inactivated
VIP
It's not in my business to meddle with Diasporan Somalis.
But that's sounds extremely depressing. To be paying excerbant monthly payments for a house
that barely cover what your salaries are, I'm guessing you also pay electricity, water utitilies, taxes, landlines etc and whatever remains for food and biilasha to your families back home, now that life is unappealing.
If you work or are granted governmental subsidies does it make a difference if you are bound for the continuous month cycle that is financially keeping you afloat and one delay of payment, debts you are off to sleep on the streets.

Have you considered evaluating your life my friend. This sounds like living in a world that takes and consumes your souls.
Do you even put money in your savings or brave enough to experiment with mortgages.
My friend before you lose a strand of hair due to stress, panic, cold environment living as a tenant in the refrigerated lands why don't you just return.

Why don't you return to Africa, it doesn't necessarily have to be the motherland, but anywhere in Africa.
Invest in whatever you have, I can assure that your investments would be in fruition, no matter how small you deposit in the end they blossom, you will have plenty of sunshine that will absorb your scalp, you don't need Turkey or UAE for a synthetic procedure the beautiful environment will befriend you.

I'd suggest East Africa is the best field to play for a diasporan like yourself and if you are generally interested in East Africa.
I'd say Kenya and Tanzania could be a perfect monopoly for Investment.
English speaking countries, with large swaths of Somali expats they are happy with their new lives.

My advice I'll give.
Start with a rural town or the outskirts of the city and most possibly a 1 km distance from Somali businesses that is for your own sake, you have to keep your ideas and creativity locked tight in a vault, there are hustlers here stealing keep your network of entrepreneurs secure.

Don't worry I assume that you might be thinking I'm delusional to recommend that you repatriate, and you may believe living in Africa, the living conditions is not upto your standards and you may not adjust well, sxb that is definitely partially true.
But does it make it different when you are your own manager and people work for you.
You can buy a plot at a reasonable rate on the outskirts and decorate your property as your holiday home and rent it to tenants when you return to your refrigerated lands and you capitalise, re-sell it and incentivize in other aspects.

I would have suggested here,
the reason I have not included it's a competitive market, not the ideal place for property investment, South Africa is somewhat
westernised and developed than other African countries. You can find all the things in America and Europe here, that is only if you're wealthy- middle class and live in the hills and the suburbs then that lifestyle may be able to support and sustain you, as long you have a healthy bank balance, realistically speaking.
There are uncertainties when it comes to safety wise, things come and go, it can be unsettling particularly when operating at dusk and whenever there's elections and political campaigns you can't prevent the inevitable of violence and lootings behind all the rallies, it can happen in the city.
The ridiculousness of rent here waa madax xanuun for us working people.
But if you have the will and determination to establish a store then the city is the best place to start not the townships.

That is why East Africa is the best place for you particularly Kenya.
I can guarantee you there is a thriving community of expats living in Kenya and some ripped their passports and never left, the Western brands and franchises are in East Africa. If that is the reason why you remain there sxb you can find anything don't let the media cloud your judgement.
If you want money you can make it. You could do anything with the right associates.
The question is are you willing to go back to your long and lost roots and embrace the land of your forefathers. You are Somali sxb, it's your parents that immigrated millennials and genz If you're still reading this you're African.
What is stopping you from leaving and willing to go all in for betterment in the long run.
To obtain a healthy bank balance you must work hard. You can make it.


Dear Millennials and genz.
 
Last edited:

Gambar

VIP
Somalis came to Canada in the early 90’s when housing was cheap. Imagine if most of the community put their ayuuto money for down payments on mortgages, they’d be filthy rich. Instead they send some money to buy land in backwards Africa because some retarded shieck told them interest is haram.
Only a few did like my parents.
 

Gambar

VIP
It's not in my business to meddle with Diasporan Somalis.
But that's sounds extremely depressing. To be paying excerbant monthly payments for a house
that barely cover what your salaries are, I'm guessing you also pay electricity, water utitilies, taxes, landlines etc and whatever remains for food and biilasha to your families back home, now that life is unappealing.
If you work or are granted governmental subsidies does it make a difference if you are bound for the continuous month cycle that is financially keeping you afloat and one delay of payment, debts you are off to sleep on the streets.

Have you considered evaluating your life my friend. This sounds like living in a world that takes and consumes your souls.
Do you even put money in your savings or brave enough to experiment with mortgages.
My friend before you lose a strand of hair due to stress, panic, cold environment living as a tenant in the refrigerated lands why don't you just return.

Why don't you return to Africa, it doesn't necessarily have to be the motherland, but anywhere in Africa.
Invest in whatever you have, I can assure that your investments would be in fruition, no matter how small you deposit in the end they blossom, you will have plenty of sunshine that will absorb your scalp, you don't need Turkey or UAE for a synthetic procedure the beautiful environment will befriend you.

I'd suggest East Africa is the best field to play for a diasporan like yourself and if you are generally interested in East Africa.
I'd say Kenya and Tanzania could be a perfect monopoly for Investment.
English speaking countries, with large swaths of Somali expats they are happy with their new lives.

My advice I'll give.
Start with a rural town or the outskirts of the city and most possibly a 1 km distance from Somali businesses that is for your own sake, you have to keep your ideas and creativity locked tight in a vault, there are hustlers here stealing keep your network of entrepreneurs secure.

Don't worry I assume that you might be thinking I'm delusional to recommend that you repatriate, and you may believe living in Africa, the living conditions is not upto your standards and you may not adjust well, sxb that is definitely partially true.
But does it make it different when you are your own manager and people work for you.
You can buy a plot at a reasonable rate on the outskirts and decorate your property as your holiday home and rent it to tenants when you return to your refrigerated lands and you capitalise, re-sell it and incentivize in other aspects.

I would have suggested here,
the reason I have not included it's a competitive market, not the ideal place for property investment, South Africa is somewhat
westernised and developed than other African countries. You can find all the things in America and Europe here, that is only if you're wealthy- middle class and live in the hills and the suburbs then that lifestyle may be able to support and sustain you, as long you have a healthy bank balance, realistically speaking.
There are uncertainties when it comes to safety wise, things come and go, it can be unsettling particularly when operating at dusk and whenever there's elections and political campaigns you can't prevent the inevitable of violence and lootings behind all the rallies, it can happen in the city.
The ridiculousness of rent here waa madax xanuun for us working people.
But if you have the will and determination to establish a store then the city is the best place to start not the townships.

That is why East Africa is the best place for you particularly Kenya.
I can guarantee you there is a thriving community of expats living in Kenya and some ripped their passports and never left, the Western brands and franchises are in East Africa. If that is the reason why you remain there sxb you can find anything don't let the media cloud your judgement.
If you want money you can make it. You could do anything with the right associates.
The question is are you willing to go back to your long and lost roots and embrace the land of your forefathers. You are Somali sxb, it's your parents that immigrated millennials and genz If you're still reading this you're African.
What is stopping you from leaving and willing to go all in for betterment in the long run.
To obtain a healthy bank balance you must work hard. You can make it.


Dear Millennials and genz.
Mortgages are not that expensive, its cheaper than renting.
 
Its the f$$$$ Trudeau govt, US has strict foreign investor laws and the owner must reside in the property for atleast 3 years before ever being allowed to rent it. Canadian property laws are so lax that even criminal enterprises abroad have got into it. The average pleb can only hope to buy a home in the middle of the Artic at this rate. This is why I wanna build back in Somalia I know I am not gonna be paying 900,000 mortgage for 40 years in HickVille. :pachah1:

This sounded like bs the moment I read it. I checked a few sources and can confirm US is as big as a haven for stolen money as anywhere else in the world. I don’t see 3 year rule anywhere (only 30% extra for gross rental tax).

Further most these foreign buyers, as seen in Canada, Australia, London Etc don’t even bother renting out their properties. They just use it to park cash.

Unlike many countries that only allow land sales to those with citizenship in the country, the United States treats sales of real estate to foreigners almost the same as sales to citizens.
 

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