# Oakville, Ontario



## Andrej (Feb 25, 2010)

Is it just me, or is there a ton of $million + listings in Oakville these days? Is there an over-supply or are they selling? Empty nesters? Declining values? Any thoughts?


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## HaroldCrump (Jun 10, 2009)

Andrej said:


> Is it just me, or is there a ton of $million + listings in Oakville these days? Is there an over-supply or are they selling? Empty nesters? Declining values? Any thoughts?


I suspect most of them are lakeside properties, south of Lakeshore Blvd.
Between Port Credit and say Guelph Line, south of Lakeshore Blvd. are the $1M+ homes.
I believe many of them are well over the $1M mark - these days $1M doesn't seem to buy you much in those parts.
There are houses in Mississauga far from the lake that are around the $1M mark.
It is crazy.


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## I'm Howard (Oct 13, 2010)

No HC, it is Toronto Real Estate.


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## petea4 (Dec 24, 2010)

Lakeside properties in Oakville are much more than 1M. 1M wont even buy you a lot, never mind a house. You'll need closer to 3M. The 1+M homes are common north of Lakeshore Blvd, and as stated above, in Mississauga. 

There must be alot of money out there to have houses turning at these numbers. Or alot of leveraged debt. 

I don't see these declining. All the houses around me are moving fast, with multiple offers, above asking. This past Wed 2 fixer uppers were accepting offers. One at 428K had 27 offers, and sold for 530k. Another at 510k had 9 offers, and sold at 570k. 

Crazy.


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## sags (May 15, 2010)

Like the old saying, "those who have nothing, have nothing to lose",

Why not leverage up, use the bank's money,(who are only too willing to lend with the CMHC guarantee), and hope the price just keeps climbing?

No problem.......until there is a problem.

I was on the TD Bank website looking at their fixed income products. I was surprised to learn that Mortgage Backed Securities are fully guaranteed by the CMHC. Nice............if the housing market collapses, tax payers will be on the hook to those investors as well.

No wonder Flaherty and Carney are getting a case of the twitches.


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## Berubeland (Sep 6, 2009)

Not sure about now or the listings on Oakville either, but the last time there was a correction it was much more obvious in the outer fringes of the GTA. 

I remember driving through a side street in Mississauga one weekend and there were for sale signs on each street corner for as far as the eye could see.


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## Andrej (Feb 25, 2010)

I'm not surprised about the price, but I am surprised about the quantity. I thought these owners would at least hold out until the spring when the market is primed.


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## kcowan (Jul 1, 2010)

Most people like to time their moves for spring or summer. Add in the prospect of rising interest rates and you have an impending event. Realtors love that.


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## kubatron (Jan 17, 2011)

I wonder how many of the sideline armchair QBs calling foul there really are out there. You guys are starting to sound like the people calling for the end of the world before Y2K.


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## kcowan (Jul 1, 2010)

This group is driven by financial ratios and when they get out of whack as they are in some cities, we sound the alarm. It is usually only realtors who claim that this time its different!


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## Berubeland (Sep 6, 2009)

kubatron said:


> I wonder how many of the sideline armchair QBs calling foul there really are out there. You guys are starting to sound like the people calling for the end of the world before Y2K.


Warren Buffet Quote On homeownership: “But a house can be a nightmare if the buyer’s eyes are bigger than his wallet and if a lender – often protected by a government guarantee – facilitates his fantasy. Our country’s social goal should not be to put families into the house of their dreams, but rather to put them into a house they can afford.”

Crazy Talk I know....


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## Four Pillars (Apr 5, 2009)

Berubeland said:


> Warren Buffet Quote On homeownership: “But a house can be a nightmare if the buyer’s eyes are bigger than his wallet and if a lender – often protected by a government guarantee – facilitates his fantasy. Our country’s social goal should not be to put families into the house of their dreams, but rather to put them into a house they can afford.”
> 
> Crazy Talk I know....


I think Warren is getting senile.


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## loggedout (Dec 30, 2009)

Andrej said:


> Is it just me, or is there a ton of $million + listings in Oakville these days? Is there an over-supply or are they selling? Empty nesters? Declining values? Any thoughts?


Nearly all of the homes along the Lakeshore all the way from the east end of Oakville to the west end of Burlington are over 1 million dollars. I am not sure where the market for these homes come from. I live in the SW end of Burlington and know the demographic of the area is very old, so it will be interesting to see what happens when these people start dying off.


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## brad (May 22, 2009)

loggedout said:


> Nearly all of the homes along the Lakeshore all the way from the east end of Oakville to the west end of Burlington are over 1 million dollars.


Another reason why I wish my father had kept the house we lived in when I was born, which was on Watersedge Road in Clarkson. I was born in Oakville General Hospital, but we moved to the US when I was a few months shy of 1 year old.


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## kubatron (Jan 17, 2011)

Berubeland said:


> Warren Buffet Quote On homeownership: “But a house can be a nightmare if the buyer’s eyes are bigger than his wallet and if a lender – often protected by a government guarantee – facilitates his fantasy. Our country’s social goal should not be to put families into the house of their dreams, but rather to put them into a house they can afford.”
> 
> Crazy Talk I know....


agreed. we should put people in houses they can afford.

disagree on the continuous notion that house prices MUST fall. it's almost as prevalent as 2 years+ ago, when everyone said house prices MUST rise.

what if neither happen?


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