tag:blogger.com,1999:blog-7123542260692860177.post1352396272286434665..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: The affordability horseHouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger83125tag:blogger.com,1999:blog-7123542260692860177.post-82438174947667004842013-01-28T09:39:40.325-08:002013-01-28T09:39:40.325-08:00"info-mercial" was not said to be a put ..."info-mercial" was not said to be a put down but in jest as a play on words. sorry info :) it can easily be read as a put down - dangers of blogging where there is no other context.<br /><br /> Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-8734191407154284102013-01-28T09:39:25.562-08:002013-01-28T09:39:25.562-08:00"info-mercial" was not said to be a put ..."info-mercial" was not said to be a put down but in jest as a play on words. sorry info :) it can easily be read as a put down - dangers of blogging where there is no other context.<br /><br /> Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-53861504928840907382013-01-28T08:24:12.345-08:002013-01-28T08:24:12.345-08:00Monday, January 28, 2013 8:00am
MTD January
2013...Monday, January 28, 2013 8:00am<br /><br />MTD January<br />2013 2012<br />Net Unconditional Sales: 251 372<br />New Listings: 917 1,088<br />Active Listings: 3,812 3,715<br /><br />Please Note<br />Left Column: stats so far this month<br />Right Column: stats for the entire month from last yearMarkohttps://www.blogger.com/profile/08315282480144281935noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-25575970218336732112013-01-28T08:09:24.359-08:002013-01-28T08:09:24.359-08:00@ totoro
Info's quote...."The public shou...@ totoro<br />Info's quote...."The public should be aware of the dangers of buying with temporary, emergency interest rates that have only one way in which to travel."<br /><br />Your retort..."Another info-mercial."<br /><br />Can you explain what you mean by info-mercial because it seems to me to be a putdown. So unlike you.vawrhttps://www.blogger.com/profile/17588554412067862401noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-53831772213821969582013-01-28T00:02:16.968-08:002013-01-28T00:02:16.968-08:00Winning!..Scroll down a bit to the blue bars. It i...Winning!..<a href="http://www.theatlantic.com/business/archive/2013/01/the-biggest-housing-bubble-in-the-world-is-in-canada/272499/" rel="nofollow">Scroll down a bit to the blue bars</a>. It is truly whacky that we hold the world record by that much over Hong Kong and australia. <br />I honestly think Vic has the highest in canada, so it stand to reason we probably hold the record of AnY cItY in the world!!! Sort of chiq at the same time!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-90672178076031945082013-01-27T15:42:21.035-08:002013-01-27T15:42:21.035-08:00interesting...interesting...dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-34076972896884109822013-01-27T15:26:41.788-08:002013-01-27T15:26:41.788-08:00Ok, you're quite right.
"Investment inco...Ok, you're quite right.<br /><br />"Investment income<br /><br />This includes interest received on bonds, deposits and savings certificates from Canadian or foreign sources, dividends received from Canadian and foreign corporate stocks, cash dividends received from insurance policies, <b>net rental income from real estate</b> and farms, interest received on loans and mortgages, regular income from an estate or trust fund and other investment income. Realized capital gains from the sale of assets are excluded. Negative amounts are accepted."Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-5534880344695118292013-01-27T15:23:10.941-08:002013-01-27T15:23:10.941-08:00I think CRA stats are for taxable income.
Hmm. I ...<i>I think CRA stats are for taxable income.</i><br /><br />Hmm. I don't see any reference to this. The data is from the SLID and is collected via survey, although the majority of respondents simply give permission to access CRA records, so it must be based on the available fields...Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-24508552516089031752013-01-27T14:58:57.863-08:002013-01-27T14:58:57.863-08:00"Seller will not accept any offers from emplo...<i>"Seller will not accept any offers from employees of Toronto-Dominion Bank or any of its subsidiaries."<br /><br />I feel sorry for the realtor on that one..</i><br /><br />Why? It's a foreclosure which means a sale will eventually happen, which is more than you can say for a lot of other properties.. The bank is trying to avoid a conflict of interest with that notice.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-37335655900001818572013-01-27T14:55:24.497-08:002013-01-27T14:55:24.497-08:00I see how that applies to disposable income stats,...<i>I see how that applies to disposable income stats, but it should show in gross income, no?</i><br /><br />On your income tax return the rental revenues and expenses are reported on T776 and the balance (positive or negative) is then entered on line 126 of page 2 on the T1 in calculating total income. Then various deductions are applied to arrive at net income, then some more to get taxable income.<br /><br />I think CRA stats are for taxable income.<br /><br /><i>. Is there even a Gross Income line including capital gains, dividends, rental, other, employment etc?</i><br /><br />No. Total income is calculated using net income from rentals and self employment.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-80193913631750033332013-01-27T13:12:59.386-08:002013-01-27T13:12:59.386-08:00The impact of a suite is shown on gross income but...<i>The impact of a suite is shown on gross income but not on net income for recent buyers. </i><br /><br />And the income that I'm using is gross income. So the impact of suites is already priced in to the affordability.Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-52370395972120703362013-01-27T11:20:19.500-08:002013-01-27T11:20:19.500-08:00"The public should be aware of the dangers of..."The public should be aware of the dangers of buying with temporary, emergency interest rates that have only one way in which to travel."<br /><br />Another info-mercial.<br /><br />This might happen in the next couple years, or it might not.<br /><br />There are also ways to manage this like a ten year rate and aggressive pay-down schedule during prime income-earning years. And/or suite income potential.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-53572922908712023982013-01-27T11:09:51.315-08:002013-01-27T11:09:51.315-08:00"So the rental revenue increases the house bu..."So the rental revenue increases the house buying power without increasing the household income."<br /><br />Correct. This means that they a share of your mortgage and expenses but it has no effect on your income because of the deductions for expenses attributable to the square footage rented out.<br /><br />The impact of a suite is shown on gross income but not on net income for recent buyers. Works out quite well.Anonymoushttps://www.blogger.com/profile/08188115284116016130noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-67163602341053593912013-01-27T10:36:37.113-08:002013-01-27T10:36:37.113-08:00"Seller will not accept any offers from emplo...<i>"Seller will not accept any offers from employees of Toronto-Dominion Bank or any of its subsidiaries."</i><br /><br />I feel sorry for the realtor on that one..Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-39695850526266528582013-01-27T10:31:30.541-08:002013-01-27T10:31:30.541-08:00"Seller will not accept any offers from emplo..."Seller will not accept any offers from employees of Toronto-Dominion Bank or any of its subsidiaries."<br /><br />I guess with such a desirable property you can be picky with who you sell to.<br /><br /><a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12667919&PidKey=-221571648" rel="nofollow">http://www.realtor.ca/propertyDetails.aspx?propertyId=12667919&PidKey=-221571648</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-66560665436991265992013-01-27T10:25:49.742-08:002013-01-27T10:25:49.742-08:00"Location, location!"
http://www.realto..."Location, location!"<br /><br /><a href="http://www.realtor.ca/propertyDetails.aspx?propertyId=12737396&PidKey=2013778999" rel="nofollow">http://www.realtor.ca/propertyDetails.aspx?propertyId=12737396&PidKey=2013778999</a>koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-33785141242221062762013-01-27T10:09:26.621-08:002013-01-27T10:09:26.621-08:00There appears to be a correlation between ridiculo...<i>There appears to be a correlation between ridiculous pricing and the age of the realtor</i><br /><br />Oh the fun graphs that could be made with full access to the data. :)Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-53544746007953150302013-01-27T10:08:03.589-08:002013-01-27T10:08:03.589-08:00Ok found it. So, total income consists of market ...Ok found it. So, total income consists of market income + government transfers (benefits).<br /><br /><a href="http://www.statcan.gc.ca/pub/75f0011x/2012001/notes/class-eng.htm" rel="nofollow">Full definition. </a><br /><br />So all rental income should be captured assuming it is declared. Rental income might be offset by lower taxes, but it should still show up. The other way to approach this is to use disposable income which will capture things like changes in taxation and gov't benefits over the years. I'll leave that for another article. Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-53584977491870290442013-01-27T10:06:30.633-08:002013-01-27T10:06:30.633-08:00There appears to be a correlation between ridiculo...There appears to be a correlation between ridiculous pricing and the age of the realtor. Older realtors are apparently not accepting the new normal of declining home prices.koozdrahttps://www.blogger.com/profile/16879691936698695299noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-42099775123831342642013-01-27T10:00:32.187-08:002013-01-27T10:00:32.187-08:00They might be tabulating employment income only? I...<i>They might be tabulating employment income only? I havn't done my own returns for over a decade. Is there even a Gross Income line including capital gains, dividends, rental, other, employment etc?</i><br /><br />I'm almost certain it includes everything.<br /><a href="http://www.statcan.gc.ca/daily-quotidien/120618/t120618b002-eng.htm" rel="nofollow">This source</a> has market income which they define as "Market income consists of earnings, private pensions, income from investments and other sources."<br />Median market income in BC for economic families in 2010 is $63,700<br />I don't understand how the other columns fit together though.<br /><br />The <a href="http://www5.statcan.gc.ca/cansim/a47" rel="nofollow">table I'm using</a> cites "total income", which comes to $73,200. Not sure what other income is included there, but it seems it includes everything.Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-12105482633029154962013-01-27T08:57:41.084-08:002013-01-27T08:57:41.084-08:00I wonder. They might be tabulating employment inco...I wonder. They might be tabulating employment income only? I havn't done my own returns for over a decade. Is there even a Gross Income line including capital gains, dividends, rental, other, employment etc?dasmohttps://www.blogger.com/profile/14638226799679794103noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-6235949441434824862013-01-27T08:32:04.044-08:002013-01-27T08:32:04.044-08:00Declared income for a suite would be net of expens...<i>Declared income for a suite would be net of expenses including mortgage interest</i><br /><br />I see how that applies to disposable income stats, but it should show in gross income, no?Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-22674892971719029882013-01-27T02:47:27.888-08:002013-01-27T02:47:27.888-08:00What percentage of suite rental income is undeclar...<i>What percentage of suite rental income is undeclared? If it is declared it would already be captured in the household income figures.</i><br /><br />Declared income for a suite would be net of expenses including mortgage interest, and would be very small or negative for a lot of recent buyers.<br /><br />So the rental revenue increases the house buying power without increasing the household income.patriotzhttps://www.blogger.com/profile/11154064267408955762noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-36452651509340028892013-01-26T19:06:18.571-08:002013-01-26T19:06:18.571-08:00What about the impact of suites this time around?
...<i>What about the impact of suites this time around?</i><br /><br />I think we don't know enough about suites.<br />Has the percentage of houses with suites increased since the 90s? If so how much?<br />What percentage of suite rental income is undeclared? If it is declared it would already be captured in the household income figures. Leo Shttps://www.blogger.com/profile/02951281972056927807noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-37717335023091860022013-01-26T18:57:43.230-08:002013-01-26T18:57:43.230-08:00Even clearer picture here:
http://www.theeconomica...Even clearer picture here:<br />http://www.theeconomicanalyst.com/content/redux-house-prices-and-income-growth-canadabigger-and-betterquitecontraryhttps://www.blogger.com/profile/08179537114889808234noreply@blogger.com