OT: Has anyone purchased a Tour Des Canadiens condo?

[Poulet Kostopoulos]

The MTL real estate market had been hit really hard by the separatist movement in the 90s hence most of houses probably doubled in value in the past decade or so. If the average house costs 400k now no way the same one will be worth 800k in 10 year.

I was gonna comment along those lines.

People comparing MTL to Vancouver or Toronto forget that there is a political uncertaintly inherent to this city whenever the PQ is in power. I think that's a big factor that worries me the most. Otherwise, these rare condos are good investments.

 

[coolasprICE]

Please. I buy most of my dry goods once a week (or less). About 4 or 5 times a week on my way home from school I buy my meat and vegetables that I need for dinner. This literally takes about 10-15 minutes tops.

Please explain to me how spending an hour or two shopping once a week is any different than splitting it up incrementally.

Of course, the biggest benefit of this method is that you are buying your produce and meat fresh and eating it that day.

A single student this is easy. As an older person who works 50 hours a week, with possibly wife and kids, this becomes annoying. It's easier for some people to set aside 1 day with a few hours of shopping. Of course I can't generalize this as a rule of thumb for everyone.

 

[oohhkev]

quick note to bring the conversation back to the original discussion point: the TDC is now completely sold out..

spoke to an agent today to see about getting a 2nd one and he said there's a waiting list of 20 people with deposits already submitted waiting to jump on any reserved units that get freed up.

again, not saying this means that this is the wisest investment to make right now, just bringing to light my opinion that if youre looking for the safest real estate investment to make downtown right now, TDC would be it. for comparison, the building across the street (l'avenue) has been on the market for 4 months and is about 40% sold..

 

[buddahsmoka1]

A single student this is easy. As an older person who works 50 hours a week, with possibly wife and kids, this becomes annoying. It's easier for some people to set aside 1 day with a few hours of shopping. Of course I can't generalize this as a rule of thumb for everyone.

I really don't see a difference. We are talking about a 10-15 minute stop on the way home.

If you have enough time to stop for a coffee on your way to work (or whenever) or any other various frivolous activities people do to cater themselves everyday without thinking, then you can easily do the same for buying some food for dinner. Having children or working full-time really has no bearing on this. Actually, having a spouse makes this process easier because there are two of you.

 

[Player 61]

After raking leaves in Lachine over the last week, I've been doubling up my lotto bets!

I think the concept of living on top of the Habs s great, but I would probably miss the 5 Min walk with the Labrador to cast a few for Bass on the St-Lawrence. I'll re-think that! When the Turcotte Inter-Change comes down & it takes me 3 hours to get to Montreal...

 

[coolasprICE]

I really don't see a difference. We are talking about a 10-15 minute stop on the way home.

If you have enough time to stop for a coffee on your way to work (or whenever) or any other various frivolous activities people do to cater themselves everyday without thinking, then you can easily do the same for buying some food for dinner. Having children or working full-time really has no bearing on this. Actually, having a spouse makes this process easier because there are two of you.

Unfortunately families of 4 or 5 or even more have a lot more things to buy..and its not just food. Of course there will be times where theyll buy fresh foods and stuff on a non shopping day..but thank goodness for freezers ...


And it's not as easy to orchestrate 2 person buying plan on a daily basis expecially if there's a lot a little things for kids and adults

Lastly if you can get the wife to leave the house for a few hours of shopping you are laughing enjoying football

 

[thom]

Does anyone have info about if Guy Lafleur is invested in the project because he seems to involved quite a bit?

 

[LyricalLyricist]

Please. I buy most of my dry goods once a week (or less). About 4 or 5 times a week on my way home from school I buy my meat and vegetables that I need for dinner. This literally takes about 10-15 minutes tops.

Please explain to me how spending an hour or two shopping once a week is any different than splitting it up incrementally.

Of course, the biggest benefit of this method is that you are buying your produce and meat fresh and eating it that day.

You spend 2 hours a week grocery shopping and you're alone? Holy ****. I can do my weeks groceries in 10 minutes with a car.

 

[Stasis]

Would buy a mid-priced unit if I won the lotto, as a pied-a-terre in Montreal with great views and proximity to everything I'd care for on a weekend trip. Rangers/Sabres vs. Habs game, dinner at a nice restaurant, rooftop terrace and bar. Perfect. Would have another in NYC and then a big ass house somewhere out in the country... probably Bucks County, PA.

As a main residence? Not a chance in hell, not even at $250k.

 

[LyricalLyricist]

Serious question.

With all the condos being built isn't this not as optimal an investment as it would be owning one in the present time?

Also, people bring up baby boomers and all that. My parents are baby boomers, my dad is 67 years old. Not for anything but in 10 years he might not even be around anymore(knock on wood) and people are talking like they will be desperately seeking out condos are driving the price up. I kind of feel entirely different, I kind of feel when this large group of individuals gets older and starts passing away many houses will be up for sale and much of the population may decline. I don't see how this drives the demand for condos up. The supply will continue to grow but demand won't.

 

[SeriousHabs]

Hi guys,

My name is Scott Gomez. You may have heard of me. I wanted to buy a unit in Tour des Canadiens, but unfortunately I can't afford it.

Love,
Gomer

 

[Madevilz]

Hi guys,

My name is Scott Gomez. You may have heard of me. I wanted to buy a unit in Tour des Canadiens, but unfortunately I can't afford it.

Love,
Gomer

fail

 

[Mike8]

Serious question.

With all the condos being built isn't this not as optimal an investment as it would be owning one in the present time?

Also, people bring up baby boomers and all that. My parents are baby boomers, my dad is 67 years old. Not for anything but in 10 years he might not even be around anymore(knock on wood) and people are talking like they will be desperately seeking out condos are driving the price up. I kind of feel entirely different, I kind of feel when this large group of individuals gets older and starts passing away many houses will be up for sale and much of the population may decline. I don't see how this drives the demand for condos up. The supply will continue to grow but demand won't.

Immigration and foreign investors are the primary drivers for the real estate market.

 

[Poulet Kostopoulos]

Immigration and foreign investors are the primary drivers for the real estate market.

Agreed.

Maybe in the early days of the condo boom, the baby boomers had a lot to do with it but not anymore. The high-end condos are mostly bought by foreign investors. Mid to low-end ones are bought by immigrants and the younger population. "Buying" is the new renting nowadays.

 

[buddahsmoka1]

You spend 2 hours a week grocery shopping and you're alone? Holy ****. I can do my weeks groceries in 10 minutes with a car.

You either don't cook often, don't buy whole foods or are using hyperbole.

It takes me 10 minutes alone to pick out proper fruits for the week.

 

[Anksun]

500$ per square feet is not a steal in Montreal, that's for sure.

That said, i guess it's the market right now.

I wouldnt buy this if i had the intention to sell in less than 5+ years (at least). the reselling condo market have slow down quite a bit in the canadian economy recently for the 1st time in... yeeeaars. Be caucious.

I'm not the one to be to nervous about a drop back in prices however, if you're buying to stay there a few years, go for it.

 

[buddahsmoka1]

Never mind, I am talking to nothing.

 

[Poulet Kostopoulos]

I recall someone said they sold out? Strange because I just received an email from them telling me to take an appointment for a sales presentation.

 

[Team_Spirit]

250K is a price I would like to pay for a Downtown condo in Vancouver. I think a 250K condo in Downtown last existed sometime in the mid-90s. **** is indeed on another level here. A one-bedroom in Downtown goes for at least 500-600K nowadays.

This is a great website for those considering investing in Vancouver's real estate market. I do not think it is this crazy out East:

http://www.crackshackormansion.com/
http://www.crackshackormansion.com/part2.html

is this real? omg

 

[tinyzombies]

I recall someone said they sold out? Strange because I just received an email from them telling me to take an appointment for a sales presentation.

Just means they want to talk you into something higher. Imagine the parties you could throw after all those events? You could get every hot chick up to your place.

 

[Ice Poutine]

I like where the condos are but they're way too far from the Bell Centre. I would have to WALK all that distance to see the Habs play because theres no bus route between the condos and the Bell Centre...

 

[Account Terminated]

----N/A----

 

[ThaDevilGirl]

is this real? omg

The website is both funny and sad at the same time.

 

[Rahan]

http://blogues.lapresse.ca/lapresse...1/09/montreal-le-prix-des-condos-baisse-de-2/

But but but.. prices never fall!

Could get worse, maybe won't, but only goes to show you nothing goes straight up

 

[CN_paladin]

http://blogues.lapresse.ca/lapresse...1/09/montreal-le-prix-des-condos-baisse-de-2/

But but but.. prices never fall!

Could get worse, maybe won't, but only goes to show you nothing goes straight up

Given the world-wide growth stagnation, much foreign capital is needed for local economy.

Canada hasn't allowed many investor immigrants in lately and besides McGill and Concordia, French universities in Quebec have very little appeal to Asian students for obvious reasons.

When I went to UofT, I made dozens of friends straight out of China who paid cash for their half a million downtown condos and Bimmers/Benz. The money they spend on eating out and drinking alone far exceeded my entire annual budget of living in Toronto. No wonder most of them never minded the 25k/year tuition. Yes those are the Asian that people often see checking out dozens of LV and Chanel bag at European airports.

McGill and Concordia still have many of privileged students but it's nowhere remotely comparable to the number Toronto and Vancouver attract. Hence it is in my opinion that Montreal's real estate market doesn't have much upside but slow steady growth is expected.