Middle class Somalis will end up being pushed out of Toronto and out of the suburbs

[Inactive]

It'll happen in the next 5-10 years. Somali parents are still living in the same homes that they lived in for many years. Any residence built before 1991 is protected under rent control... about 2% maximum increase a year. Once you vacate the property, they can increase rent to the next tenant to whatever amount they like. Any property built after 1991 can be charged whatever and whenever. I heard the government is going to put rent control for all buildings new or old shortly but it's too late. Housing market and rent market is ridiculous.

This is what happens when you sell the city to rich Hong Kongers and mainlanders.

I wonder where the average Somalis will go

 

[Arman]

A similar situation is happening here in Seattle...

 

[Gojo Satoru]

It'll happen in the next 5-10 years. Somali parents are still living in the same homes that they lived in for many years. Any residence built before 1991 is protected under rent control... about 2% maximum increase a year. Once you vacate the property, they can increase rent to the next tenant to whatever amount they like. Any property built after 1991 can be charged whatever and whenever. I heard the government is going to put rent control for all buildings new or old shortly but it's too late. Housing market and rent market is ridiculous.

This is what happens when you sell the city to rich Hong Kongers and mainlanders.

I wonder where the average Somalis will go

The chinese are coming to toronto now?? They need to put a tax on chinese people buying houses for investment.

 

[Inactive]

You have to be either poor or rich to live in this city. Or be middle class that bought your home more than 10 years ago.

Only people with citizenship and with Canadian income should be allowed to purchase homes.

Even those making 6 figures can't afford to buy.

It's political suicide to touch this issue. The government will not do anything about it. Most people own their homes and will not agree to have their home value decrease.

 

[kickz]

That Chinese money causing earthquakes everywhere

 

[Inactive]

In Toronto, some homebuyers are so desperate to win bidding wars that they’re rushing to make offers without even getting an inspection.

Toronto-based home-inspection firm Carson Dunlop saw a 34 percent drop in volume. Murray Parish, president of the Ontario Association of Home Inspectors, said he’s seen a 30 percent decline at his firm, Parish Home Inspections.

 

[Mumin]

Wallahi the cost of living is crazy in high taxed nations EU & CAN if u calculate all the taxes together from income tax to federal taxes they will take over 2/3 of ur income. Due to entitlement programs.

US is very smart they have lower tax rate but no hand outs.

Im planning to became tax refugee! this is becaming unberable pain.

 

[XamarCade]

This is all false bubble everyone is living in, ur stupid to be paying 1mill and be considered a middle class

 

[OmarLittle]

A similar situation is happening here in Seattle...

Yeah true, I'm from Seattle too. I laugh when I see shitty old brick two bedroom homes for $750,000 and anything modern is $1.5+ million. It's all about limited supply and high demand, thanks to Amazon and Cali folks running from San Francisco and saying it's "hella cheap out here".

 

[OmarLittle]

A similar situation is happening here in Seattle...

Wtf I just noticed your the new deist guy loool. Warya you changed your name, nacaal.

 

[Arman]

Wtf I just noticed your the new Desit guy loool. Warya you changed your name, nacaal.

Desit?

 

[OmarLittle]

Desit?

I meant deist

 

[Arman]

I meant deist

So that's what I'm known for huh....

 

[OmarLittle]

So that's what I'm known for huh....

Nigga, that's all I remember. Don't go into your feelings. Are you transitioning into tranny and the female hormones got you all fucked up? Also warya, your dm is locked for privacy, was because of Abdi Johnson lool.

 

[Arman]

Nigga, that's all I remember. Don't go into your feelings. Are you transitioning into tranny and the female hormones got you all fucked up?

wtf? Lol

Also warya, your dm is locked for privacy, was because of Abdi Johnson lool.

I havent been here for a month yet

 

[OmarLittle]

wtf? Lol



I havent been here for a month yet

I see, it looks like more than a month. I thought AJ was cyber molesting you, im glad you're okay than.

 

[Arman]

I see, it looks like more than a month. I thought AJ was cyber molesting you, im glad you're okay than.

wa walantahay warya

 

[OmarLittle]

wa walantahay warya

Niggas are going to click for a thread about the housing market in Toronto, but are in for a discussion about trannys, cyber molestation

 

[Gojo Satoru]

Its worse in vancouver, a shitty rundown house goes for like 2 million

 

[Deactivated]

Somalis in London missed the biggest wealth acquisition in Somali Despora history and now it's Torontonians. What's sad is the dual income households of millianial Somalis who chose to rent instead of placing 20% on 1-2 bedroom predevelopment condos that would increase by 30-40%. Somali parents have a tendency to resent their children when they purchase condos for 2 reasons: (One) they are small. (Two) The Riba.

We live in a time now that young Somalis are purchasing property but there struggle isn't celebrated. Going from Dixon to Bay Street is a

We have zero property forums in our cities. Majority of the community gather to speak on social issues affecting other communities.

We don't need SJW. We need Social Wealth Warriors.