adplus-dvertising
Connect with us

Real eState

Social media’s ‘Millenial Moron’ skewers the absurdity of Canadian real estate

Published

 on

One of the account’s most popular posts compared what you could buy in Black Rock Cay, Honduras for $1.8-million versus what you could get in Toronto for the same price. In Honduras, that price nets you a private island and home. In Toronto, a tear down semi.Private Islands Inc.

As prices remain stubbornly high in Canada’s hottest real estate markets some young social media users are finding new ways to highlight what they view as the absurd choices facing new home buyers.

Take the example of @millennialmoron – he refuses to divulge his real name – who posts videos on Instagram and TikTok, and who fully appreciates his social media handle will invite derision. He recently created a video series called “Private Islands vs. Canadian Real Estate,” that started with a promise/threat: “Are you frustrated with the high prices of Canadian real estate? Well, prepare to be more frustrated.”

His most popular video was actually his second where he detailed Black Rock Cay in Honduras, a private island that was listed for $1.8-million. The island came with two boats, an updated main house, two guest cabanas, all the furnishings and all the mechanical and water equipment needed for island living. The @millennialmoron video contrasted that to a $1.8-million semi-detached house in Toronto at 54 Stewart St. that didn’t have quite the same amenity package: there’s no toilet in the main bath, the backyard is a junk heap and the kitchen is missing some walls and part of the ceiling. What it has going for it is location: At King and Bathurst streets, it’s likely just a land parcel of a future condominium development.

The 54 Stewart St. house in Toronto, for sale for $1.8-million.visualadvantage.ca

Not that everyone gets the joke: there are many, many commenters on his posts who accuse him of all manner of things. He has had to post videos clearly disclaiming that he is A) not a realtor nor offering real estate advice B) not suggesting there is any real comparable between the upkeep costs of a home in a Canadian city and an island almost anywhere else and C) that his posts are satire, jokes and possibly funny.

“This isn’t a fair comparison … and it’s not a new idea, it’s just a specific comparison,” he said in a conversation with The Globe and Mail. Though he says he’s not ready to share his real name, he makes no effort to obscure his face on his deadpan send-ups of Canadian property prices. What drives his videos is a deep sense that something’s wrong with affordability in real estate. “I’m in my mid-thirties. I wouldn’t say there’s anyone in my age group who hasn’t talked about this issue,” he said. “We’ve seen houses go from completely reasonably priced to something that’s wildly out of reach.”

He says it all started a few years ago when he saw a couple of news stories about essentially teardown properties selling for millions of dollars in Canadian cities based primarily on land value. About a week ago he decided to crack a few jokes online about another of those homes making the rounds and he wanted to compare it to something really absurd. “What’s the most ludicrously luxurious property you could buy, something not even regular rich people have?” he asked himself. The answer: private islands.

In about a week he’s collected almost 20,000 followers and his most popular videos have collected tens or hundreds of thousands of views. So far he’s profiled islands in Argentina, Brazil, Ireland and closer to home in Wisconsin. He also detoured to compare a $4-million Vancouver single-family home to a castle on 32 acres England for about the same price.

The videos often rely on listings from Privateislandsonline.com, a site maintained by self-proclaimed “Isla-maniac” Chris Krolow of Private Islands Inc., who while not a realtor has built a business helping connect people to private islands for sale. He even co-created a TV show with cable channel HGTV called Island Hunters (there are five seasons so far) and is looking to do another island-themed show soon.

“I call myself an island broker, but I also come up with ideas and help clients through problems so I’m doing a lot of consulting: I go to a lot of places and I’m like what the heck were they thinking,” Mr. Krolow said.

Real island hunting comes with dangerous shoals – particularly if the island is undeveloped – and buyers need to understand what the buried costs of a given island are. On his own island he developed in Belize Mr. Krolow spends hundreds in fuel every time he uses his boat to come the mainland meaning a trip for groceries can cost up to $550.

“If you need full-time staff that’s really the big leap for costs. In the Bahamas if you need staff you’re looking at US$80,000 for a live-in caretaker,” he said. “One island that was listed at $10-million sold for $6-million and the owner didn’t seem to care about doing things with solar, so he spent about $800,000 a year on maintenance: Most of that was diesel fuel and full-time staff.”

Drawing an unfavourable contrast between Canadian real estate and international options is a familiar trope, and @millennialmoron’s videos hearken back a decade ago to the work of Toronto-based tech worker Melissa Hart who for a few years published a blog called FML Listings. She appeared in Canadian magazines and newspapers as a spokesperson for a generation sick of seeing properties in Willowdale (a Toronto inner suburb) sell for the same price as mansions in Malibu, Calif.

She never found an island that was comparable to Toronto real estate though.

“I did one to a château in France, in Bordeaux: it had a vineyard, it was an estate, and it was like hundreds of thousands less than a tiny house in Trinity Bellwoods [a downtown Toronto neighbourhood],” she said.

Worse, the prices that drove Ms. Hart to despair a decade ago look quaint by today’s standards. “I thought $500,000 should get you a semi – that was nine years ago. Now $500,000 is a down payment,” she said. “I was really cynical about the whole thing, and pessimistic, but even in my negative mindset I never thought it would get where it is now. I saw a one-bedroom condominium on MLS yesterday – 700 square feet in the Junction – it was $1.4-million.”

Ms. Hart stopped publishing her blog when she had her first child, but her real estate story did have a happy ending of sorts: though she was born and raised in the big city she and her partner eventually bought a house … about 45 minutes north of Toronto.

@millennialmoron also owns a home, in British Columbia, which he feels grateful to have. “My wife and I are both professionals and we were able to buy a modest house. Not what you would expect two people in our careers to have, but relative to everyone else struggling, we’re not on the brink,” he said.

 

728x90x4

Source link

Continue Reading

Real eState

Two Quebec real estate brokers suspended for using fake bids to drive up prices

Published

 on

 

MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.

Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.

Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.

She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.

The two brokers were suspended in May 2023 after La Presse published an article about their practices.

One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Montreal home sales, prices rise in August: real estate board

Published

 on

 

MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.

The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.

The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.

The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.

QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.

Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.

This report by The Canadian Press was first published Sept. 6, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Real eState

Canada’s Best Cities for Renters in 2024: A Comprehensive Analysis

Published

 on

In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.

Here are the top 10 cities that emerged as the best for renters in 2024:

St. John’s, NL

St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.

 

Sherbrooke, QC

Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.

 

Québec City, QC

Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.

Trois-Rivières, QC

Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.

Saguenay, QC

Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.

Granby, QC

Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.

Fredericton, NB

Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.

Saint John, NB

Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.

 

Saint-Hyacinthe, QC

Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.

Lévis, QC

Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.

This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.

Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.

Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.

For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.

While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.

Continue Reading

Trending