Who Took The Real Estate Market?
Who Took the Real Estate Market?
Has the Real Property market been stolen? Who Took the Real Estate Market? Why is it so difficult to afford a home in major cities throughout Canada? Conversely why is it so affordable or cheap to buy a home in urban areas? Did one major Real Estate Developer purchase every house or housing development? Or was it many Developer’s, as part of conspiracy to compel the increase of housing costs?
It may seem as though there is a concerted effort, by an elite aristocracy to bolster home costs. But this is a paranoid perspective that should cease. Instead, let us focus on what is actually happening. Firstly, it seems as many streets where there were once bungalows or small shack-like shanty town dwellings are being replaced by large box multi-leveled structured dwellings.
Where are these independent builders getting all of this seemingly newfound cash flow? Possibly this influx of money is coming from foreign investments / investors. It could seem like foreign investors sent relatives to buy up many areas and populate them with immense building that look like houses. Entire families could reside in these super-structured domains for many years, all the while paying for utilities and maintenance upkeep fees. Eventually these houses will be so at a high increase far over above the general market price for so-called comparable residences. The homes being used in the comparison, which are not even similar in design, size or structural integrity. This is perhaps a major issue of concern.
With a new standard being set for house sizes, homeowner’s are listing their dissimilar properties at outrageously high-prices in an effort to compete with homes that are not even slightly related. It seems we may have partially determined the cause of the ever-increasing house listing crisis – egoism (great big egos). A great desire by home sellers to fetch a high price for their average house puts potential buyers into a financial dilemma.
This translates into big business for loan companies, mortgage agents / brokers and trust companies. These financial powerhouses will be able to set high interest rates for loans and mortgages, as so-called standard loan processing fees. This process can be interpreted as being a great farce by a hard working person who just wants to be able to afford a home. The result is many potential home buyers will need to find a place to dwell in undesirable but affordable areas. Is there an elite status for home ownership?
Posted on: March 2, 2015, by : Zack Steel