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Housing prices Internationally

From the pic a little wallboard, tape, texture,
and paint are in order. Some really tall people
must have owned it before to have
a shower head 8 feet from the floor.
This of course is if their building codes are
anything close to ours.
 
5.7 hemi said:
Check this out!

Kiwi, what’s going on down there?


https://apple.news/AQZ9iFH5sTuWyKJgV4aQVQg
Click to expand...
That particular house is a high price because of the location....the house is worth nothing.

A developers dream....and a renovators nightmare.

That house or one similar hit the headlines over a year ago. House prices have continued to rise every month for the past few years now, and even though the Reserve Bank Governor has used his magic toolbox, the situation has spiralled out of control even faster.

My house is worth nearly 3 times what it was 5 years ago, putting my equity percentage up very high. Problem is if I sell and move somewhere else, I have to pay more for the next place. Houses in my area sell within a couple of weeks now, and some don't even make it to market. Everyone wants to live in the nicer areas now that mortgage interest rates are the lowest ever....around 2.5%...sometimes even better depending on the term.
 
1STMP said:
From the pic a little wallboard, tape, texture,
and paint are in order. Some really tall people
must have owned it before to have
a shower head 8 feet from the floor.
This of course is if their building codes are
anything close to ours.
Click to expand...
That house is an older one - 30's era styling....no insulation, no nogs in the walls - just studs & sarking (horizontal boards) with hemp scrim over the top to fix the wall paper to. Standard corrugate iron roof....probably quite cold and drafty....a nightmare to heat in winter.
Likely only one power outlet in each room, and dodgy wiring going by the pictures.

BTW....I watch enough HGTV to know that there's nothing wrong with OUR building codes and standards. :D I have seen some pretty shonky work going on in those renovations. I'm a sparky, and I reckon I could do a better job than a lot of those so-called building contractors.

I even up-skilled this week learning how to plaster the drywall board. :thumbsup:
 
Many people here, in your situation, would sell high, move into a fixer upper and renovate, then do it all over again. Moving up in value each time.
 
Housing prices (and rentals) in my part of Canada is out of control, with most selling much higher than the asking price. Residential only...commercial properties not so much. Its forcing kids to live longer at home or god forbid, get a roommate. Back when I was a youngster I could never afford a rental on my own.
My issue with rising housing prices is we pay property taxes on the value of the home. They can only raise it inclemently but every year property taxes go up.
 
The only way to realize any REAL profit from the sale of stupid high homes, is sell and move to where you get the bang for your buck! Out of state, or out of neighborhood.
 
You truly never own a home once it is paid off. Doesn’t matter if you paid cash or financed it, you never own it. Miss a few property tax payments and you’ll see that don’t own it anymore. A home is the only thing that once paid for, you still don’t own.
 
Nog is a Ferengi on Deep Space Nine......

images?q=tbn:ANd9GcTMhuca-IQ1WvuJ_DPfPQlTlhHaHYiQLMRT2A&usqp=CAU.jpg
 
Nog = a small block or peg of wood.
 
69a100 said:
I know what I use the term "nog" for, but what is it for walls? Thanks
Click to expand...
upload_2021-7-16_8-27-49.png
upload_2021-7-16_8-27-49.jpeg


Some people south of here call them 'dwangs'. I guess everyone has a different name for them.
They basically brace the studs. Additionally we use steel angle bracing elements, and 'Braceline' plaster board for the walls that call for it. This house is brick-clad on the lower exterior, so a layer of plywood is fixed to the outer walls - other side of the bitumen impregnated paper that is visible.
 
slepr1 said:
My issue with rising housing prices is we pay property taxes on the value of the home. They can only raise it inclemently but every year property taxes go up.
Click to expand...

exactly! It’s a way to collect more And more taxes from us working folks. You can’t argue the tax valuation with them because houses sell for more than asking to the first guy to make and offer.

and you can’t move Easily because it just coats more for all the fees and taxes with a higher sales price.
 
If my county tax assessor told me my house is being valued at 600k, my response would be, “congratulations, ya just a new house”!
 
Ghostrider 67 said:
Many people here, in your situation, would sell high, move into a fixer upper and renovate, then do it all over again. Moving up in value each time.
Click to expand...


Problem is there are no fixer-uppers.

99% of the available houses are flips that have already been "fixed-up".

Finding "distressed" property was hard enough before the frenzy.

Dang near impossible now.
(My guess is real estate pros turn on their developer friends and those properties don't go any further)

Occasionally there will be one with an already fixed asking price.

...and it will eventually sell.
 
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