The Condo Game [CBC Documentary]

[salsa]

Posts regarding the earthquake/condo apocalypse have been moved to the new earthquake thread.

42



Just kidding

I've been away from this thread for a few days, so I had the pleasure of reading several pages of this earthquake diatribe (oops I said it). Sorry for interrupting, please carry on with this important and totally relevant conversation.

 

[Ex-Montreal Girl]

You know, you might find a lot of people who are very used to high density living just don't respond because they see you as part of the background, with no malice intended. It'd just be exhausting to acknowledge everyone all the time. For you it may seem very natural because it's still this very new thing, but for others it'd be like acknowledging people in the subway.

If you needed help, I bet many of those lads and lasses who apparently ignore you would quickly come to your aid.

I think there's a critical mass beyond which it becomes anonymous and people are less connected. Also, if the building has a lot of renters, especially younger ones, the turnover may be higher. I'm just guessing.

Our building is very sociable in that it's not too big and 90% of the people are here for the long haul. They're not people buying their first homes with an eye to selling and moving on. They are downsizers from houses or people who chose condo living a long time ago because they didn't want the hassle of home-owning, or travel a lot and want to be able to lock the door and leave.

Also we have lots of dogs, which means another layer of community.

Our concierge's desk can also be the glue which brings people together plus we have various in-building clubs (book, bridge etc.) and parties.

P.S. We have earthquake insurance. LOL.

 

[TOperson]

Just because a couple people on here have (so far) had a nice time in their condo does not negate the unique risks and hassles that are possible - and have actually happened in significant numbers - with condos. Any condo development can turn bad at any time. All it takes is a few incompetents on the condo board.

 

[Ex-Montreal Girl]

Just because a couple people on here have (so far) had a nice time in their condo does not negate the unique risks and hassles that are possible - and have actually happened in significant numbers - with condos. Any condo development can turn bad at any time. All it takes is a few incompetents on the condo board.

That's true.

But then, houses get termites and basements leak and foundations crack. And that includes brand new builds.

Rental apartments can get bedbugs and lousy landlords and high crime.

If the majority of condo owners and dwellers had negative experiences, nobody would live in them. There would be a million "for sale" signs.

Life ain't perfect.

 

[js97]

I think it's slightly disingenuous for someone like Adam Vaughan to say anything considering most of those condos in his ward did not have to go to the OMB, and he's championing restaurant row developments. Has anyone actually seen his donation list?

Also, yes, I would say the Ontario Liberals are in the pockets of developers...


on another note, I believe TD or HSBC have stopped financing condo units smaller than 400sq feet (or some measure to that affect)

 

[TheKingEast]

I think it's slightly disingenuous for someone like Adam Vaughan to say anything considering most of those condos in his ward did not have to go to the OMB, and he's championing restaurant row developments...

on another note, I believe TD or HSBC have stopped financing condo units smaller than 400sq feet (or some measure to that affect)

I rolled my eyes whenever he talked.

 

[doug]

But then, houses get termites and basements leak and foundations crack. And that includes brand new builds.

Condos get bedbugs, basements leak, pools leak, roofs leak and foundations crack. And that includes brand new builds.

Condos get lousy boards, management companies, and owners who rent to lousy tenants.

If the majority of condo owners and dwellers had negative experiences, nobody would live in them. There would be a million "for sale" signs.

If the majority of home owners had negative experiences, no one would be buying houses, and their value wouldn't be appreciating at a higher rate than condos.

Life ain't perfect.

Agreed

 

[TheKingEast]

Is stuff like this done in houses?

I see so many new condos with this crap

As you can see. There is a half foot gap if you close the door completely because it butts up against the ledge. I see 2 and 3 bedroom units with this concoction. How is one supposed to live in rooms that don't even have doors that close? Granted, some builders have done a good job of using hung doors or hiding sliding doors in the walls and such. But this is something you can't see through plans. It's given to you and you have to live with it. Tarion won't help you either. You will have to renovate your place so that it has a door. LOL.

 

[SunriseChampion]

You asshole!
I spent ten minutes staring at that photo, looking for a build flaw, and could only come up with design flaws....and then I scrolled down.

 

[TheKingEast]

You asshole!
I spent ten minutes staring at that photo, looking for a build flaw, and could only come up with design flaws....and then I scrolled down.

 

[MisterF]

Is stuff like this done in houses?

Of course it is. Bad design and shoddy construction has been a staple of housing for decades. Mike Holmes has made a career out of fixing those problems. The whole premise is part of what made Arrested Development so great. This has been happening in condos on a large scale for the last decade or so, but it's been a proud tradition of the detached housing industry for 60 years.

But yeah...that photo is pretty bad. Just goes to show that you should buy somewhere that's already built, whether it's in a house or an apartment.

 

[freshcutgrass]

As you can see. There is a half foot gap if you close the door completely because it butts up against the ledge.
But this is something you can't see through plans

What...the plans showed a sliding door closing directly onto a window? That's even more idiotic. I'm sure the layouts are terrible and look that way on the plans. Plenty of red flags on spec condos...if you know what you're looking for. If you don't, then you should be sticking to existing real estate and leave the speculating to the punters.

 

[TheKingEast]

Of course it is. Bad design and shoddy construction has been a staple of housing for decades. Mike Holmes has made a career out of fixing those problems. The whole premise is part of what made Arrested Development so great. This has been happening in condos on a large scale for the last decade or so, but it's been a proud tradition of the detached housing industry for 60 years.

But yeah...that photo is pretty bad. Just goes to show that you should buy somewhere that's already built, whether it's in a house or an apartment.

I understand that houses have their own issues, but I don't see design flaws like this. Design flaws that are promoted too. Many new condos have these flimsy sliding doors which are marketed as "modern", "open", etc...

You are right though. Buying already built dwellings are a better option. Especially now since pre-con is now just as expensive or more than resale.

 

[TheKingEast]

What...the plans showed a sliding door closing directly onto a window? That's even more idiotic. I'm sure the layouts are terrible and look that way on the plans. Plenty of red flags on spec condos...if you know what you're looking for. If you don't, then you should be sticking to existing real estate and leave the speculating to the punters.

Plans don't show a lot of things. The benefit of buying spec condos before was affordability. Now, spec condo pricing is so high, it makes absolutely no sense to purchase over resale. New condo market is DEAD.

 

[freshcutgrass]

The benefit of buying spec condos before was affordability. Now, spec condo pricing is so high, it makes absolutely no sense to purchase over resale.

That's an interesting point. I wonder how the numbers have changed regarding the average price appreciation between pre-construction and registration.

Although condo resales seem to be more popular than new sales. Third quarter numbers for new condos is 3,049 (down 8% from last year), as opposed to 4,207 condo resales (up 23% from last year).

New condo market is DEAD.

With roughly 13,000 new condos projected to be sold in 2013, it has certainly slowed from huge peak numbers in the last couple of years, but those numbers in any other city would be considered a huge boom.