@@SellingReality Phoenix, where housing values are inflating partly because of monied Californians, Canadians, and investors buying homes here. Of course, for those of us who have been here for decades and who didn't make their money in places like Canada and California, housing is now unaffordable for anyone who didn't get on the property ladder decades ago and rents have gone through the roof. Fortunately, I bought a foreclosure in 2010, sold it for a good profit nine years later, and used the profit as a large down payment on a condo closer to downtown. But young people from here have zero chance at ever owning any home, let alone one like the ones in this video.
@@timward3116 Absolutely, you've really hit the nail on the head with that observation. It's a tough situation all around. I can imagine how frustrating it must be for young buyers in Phoenix, watching the dream of homeownership slip further away. Your own journey with the foreclosure and condo purchase is quite the rollercoaster, but it's great to hear you found a way to navigate the market. It's just a shame that it's getting trickier for others to follow suit. This conversation definitely needs to keep going-it's too important to ignore.
@@SellingReality I'm not a smart investor type. Just cautious. And I have always tried to buy less than I seemed to be able to afford because, well, you never know when plague and pestilence are going to hit, LOL. Really, I just kind of felt my way in the dark and was fortunate. Here, my very modest 1975 condo (863 sq. ft) has increased at LEAST 60% in value in five years and my mortgage payment is literally one-quarter the going rent (thanks to a low interest rate and a big downpayment). But I honestly don't know how anyone under 40 survives unless they're married and have two incomes. I loved the neighborhoods in your video, though. Just beautiful! And the homes are spectacular. Very fun to watch!
Hi Tim, Many young buyers in Toronto are leveraging the "Bank of Mom and Dad" to enter the market. Parents are remortgaging their homes and providing substantial down payments as gifts. Have you begun to observe a similar trend emerging in Phoenix?@@timward3116
Pinned by Selling Reality @SellingReality 4 days ago Thinking of moving to Toronto? Let us help! Call or Text: 416-618-4424 Email: elizabethmachula@gmail.com Request a time for a phone chat or zoom: calendly.com/elizabethmachula
I knew about Wychwood Park my entire life since I lived just a few blocks from there when I was a kid.
Wow. If I only had tons of money (and were Canadian), these neighborhoods would be the place for me!
Most middle-class Canadians find these neighborhoods out of reach and are drawn to the US for better affordability and value. Where are you from?
@@SellingReality Phoenix, where housing values are inflating partly because of monied Californians, Canadians, and investors buying homes here. Of course, for those of us who have been here for decades and who didn't make their money in places like Canada and California, housing is now unaffordable for anyone who didn't get on the property ladder decades ago and rents have gone through the roof. Fortunately, I bought a foreclosure in 2010, sold it for a good profit nine years later, and used the profit as a large down payment on a condo closer to downtown. But young people from here have zero chance at ever owning any home, let alone one like the ones in this video.
@@timward3116 Absolutely, you've really hit the nail on the head with that observation. It's a tough situation all around. I can imagine how frustrating it must be for young buyers in Phoenix, watching the dream of homeownership slip further away. Your own journey with the foreclosure and condo purchase is quite the rollercoaster, but it's great to hear you found a way to navigate the market. It's just a shame that it's getting trickier for others to follow suit. This conversation definitely needs to keep going-it's too important to ignore.
@@SellingReality I'm not a smart investor type. Just cautious. And I have always tried to buy less than I seemed to be able to afford because, well, you never know when plague and pestilence are going to hit, LOL. Really, I just kind of felt my way in the dark and was fortunate.
Here, my very modest 1975 condo (863 sq. ft) has increased at LEAST 60% in value in five years and my mortgage payment is literally one-quarter the going rent (thanks to a low interest rate and a big downpayment). But I honestly don't know how anyone under 40 survives unless they're married and have two incomes.
I loved the neighborhoods in your video, though. Just beautiful! And the homes are spectacular. Very fun to watch!
Hi Tim, Many young buyers in Toronto are leveraging the "Bank of Mom and Dad" to enter the market. Parents are remortgaging their homes and providing substantial down payments as gifts. Have you begun to observe a similar trend emerging in Phoenix?@@timward3116
Pinned by Selling Reality
@SellingReality
4 days ago
Thinking of moving to Toronto? Let us help!
Call or Text: 416-618-4424
Email: elizabethmachula@gmail.com
Request a time for a phone chat or zoom: calendly.com/elizabethmachula
Baby point is pronounced babby
@thecityplanner Yeah, it's like trying to swim upstream when the pronunciation doesn't match the spelling, right?