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Baby, we got a bubble!?
- Thread starter simuls
- Start date
evandyk
Senior Member
From just this weekend:
Admiral Beez
Superstar
I think that's the same article I posted above. It's a travesty how we trick these people.
But also, buyer beware. When my Dad wanted to move us to Canada in the 1970s he first came by himself to get settled and to make sure that the story he was sold by the Canadian government matched what he found. If you're a bank manager in Pakistan, come to Canada on a visitor visa, do your due diligence. If you can't afford the trip, then ask others already in Canada.
Canada also does itself no favours by encouraging people with education, skills or experience that will not be recognized here from emigrating to Canada. Australia does immigration better in some ways, for starters, the applicants MUST pass an English proficiency test before they come - no English (or French in our case), no permit. And, Australia does not allow family reunification - when we moved to Canada we would never have thought to bring my grandparents, etc. along. If they want to come to Canada, they can apply on their own merits. The last thing Australia does well is credential equivalation before the newcomers arrive - so that a nurse in India, for example, can more quickly work in Australia as nurse, rather than having to go back to nursing school.
Undead
Senior Member
This is extremely common. The "engineer driving a taxi" is not a stereotype. In my own immigrant community, I know Eastern Bloc doctors and engineers who work as condo corp superintendents and much worse.
Admiral Beez
Superstar
I’m not sure I’d want an eastern bloc doctor treating me. Well, Baltic states, sure, a Russian doctor? IDK. But nor should an eastern bloc doctor be led to believe that in coming to Canada they can practice here. My family doctor is from the UK, and I assume he had some equivalency paperwork to do BEFORE he came to ensure he could practice here.
Undead
Senior Member
Soviet docs were ok. It was medical equipment which was the big issue.
MichaelZ
Active Member
Your dad was probably in the top 0.1% relative to the overall world population in the mid 1970s.
In 2022 terms the pool of top 0.1% would be something like a medium sized city mayor in India or deputy-mayor in China. Or upper-middle management at one of the big tech companies.
I'm sure it's still as easy, if not even easier, for immigrants from such groups to move to Canada compared to 50 years ago.
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Undead
Senior Member
Correct. One of my friend's family members is a senior manager at one of the banks. Before emigrating, she was with a large bank in her country. She was transferred here and later landed a new bank gig fairly easily.
Obviously, the vast majority of immigrants are in a significantly worse position. My father was a cleaner at the Skydome and assembly line worker in Scarborough before landing work in his field.
lenaitch
Senior Member
As a post-retirement gig I was an investigator conducting 'due diligence' investigations for gaming registration (pretty much anybody who works in or in relation to a legal gaming facility in Ontario has to be registered by the AGCO). I lost track of the number of first-generation Canadian who were highly qualified in a range of professions who came through looking to be employed as table dealers.
Many of our systems are somewhat goofy. My wife has two nieces who received their medical training in the UK (or Ireland, I can't remember). Both had to jump through many extra hoops as 'foreign trained doctors'. Surely they can discern between UK medical standards and South Sudan.
Jonny5
Senior Member
Surprise! Bidding wars and houses selling for hundreds of thousands over asking are back again, as buyers churn through the limited supply and deal with a rising interest rate world where buying now means (temporarily) paying less interest than buying later.
What a fascinating quote. There's always a reason they have to advise you to "buy now, at any cost."
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What a fascinating quote. There's always a reason they have to advise you to "buy now, at any cost."
Undead
Senior Member
I detest realtors.
Admiral Beez
Superstar
IDK, never in my 24 years here in Cabbagetown have I seen so many houses taking weeks and weeks to sell.
https://www.realtor.ca/map#ZoomLevel=16&Center=43.666230,-79.368790&LatitudeMax=43.67304&LongitudeMax=-79.35180&LatitudeMin=43.65942&LongitudeMin=-79.38578&Sort=6-D&PGeoIds=g10_dpz83vjg&GeoName=Cabbagetown, Toronto, ON&PropertyTypeGroupID=1&PropertySearchTypeId=1&TransactionTypeId=2&BuildingTypeId=1&Currency=CAD
These prices are insane still. $2+ million for three floor semis? Who can afford these? When I bought in 1998 it was well under $300k, or about four times our household income after tax income. Now it's about fifteen times our current income. Jeez.
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afransen
Senior Member
If you look at transactions, looks like most of the recent ones in Cabbagetown are hundreds of thousands below asking, or well down from earlier transactions. A lot of deals falling through on valuations.
lenaitch
Senior Member
I was reading an article, somewhere, a few days ago that outlined a couple who bought a house near the end of the low-interest/high price wave, then either couldn't get enough for their house or it wasn't moving (can't remember) and ended up selling the house they just bought for $60K less just to get out of it.
Admiral Beez
Superstar
Ouch. Unless you can easily float both, never buy a house until you’ve sold your house. You don‘t remarry until the current spouse is divorced or expired.
