My Condo Thread - Page 3

Oh! Well, that's probably better.

wat
2-3 years ago, just before the crash, was probably the worst time to buy

Well, no. Peak is always the worst time to buy, i.e. literally just before the crash. And since prices didn't start to plunge until the introduction of the HST in BC and Ont., the introduction of new mortgage rules, and the increase in interest rates (all of which happened this Spring), he's not far off. Home values will probably drop another 15-20% before the market bottoms out.

This is what I was hearing on the news a few months back. Any idea when you think this will happen? I'm in the market (Toronto) but haven't seen much of a drastic change yet; mind you this is solely based on asking prices, I have no access to sale prices.

Nice! Quite large for a condo -- my TH is only a few dozen sq. ft. larger...

Check out Canadian firms like Gus Design (http://gusmodern.com/)...Gabriel Ross (http://www.gabrielross.com) is a good online retailer, and you probably have an EQ3 (http://www.eq3.com/cat-eq3/splash.html) in Edmonton.

There is also a Winnipeg-based sofa and armchair manufacturer whose name escapes me right now (Earl? or something) that makes some cool, classic pieces.

When what will happen? The crash has already happened. In July 2010, only 6,564 homes sold in Toronto compared to 9,967 the previous July. Nationwide, sales have slumped by 25% since the beginning of the year and prices are now flat. In fact, prices are a lagging indicator. In an environment such as this, many protential sellers simply try to wait it out by putting off selling. But we will see next spring that as all these reluctant sellers put their houses on the market at the same time, prices will be forced down because no one will be buying.

If you're talking about when the market will bottom out, I'd say not before 2015 at the earliest. The last real estate bubble in Toronto burst in the early 90s and didn't regain its previous highs until 2003. But if you mean the time it would take to recoup value on investment, much longer when you consider that each home sale/purchase involves closing fees, realtor commission and land transfer tax which can total over $30k in many cases. People buying now or who bought a couple years ago are going to be in negative equity for years.

Here is some more scientific literature on the topic: https://s3.amazonaws.com/policyalter...ing_Bubble.pdf

There is actually quite a lot of nice art at ikea. I have never bought it since I am not a huge fan of having millions of other people with the same piece (or at least having seen it at ikea) but I have had friends with pieces and they look good and I honestly have *not* seen the same pieces elsewhere. Some of them work particularily well if you assemble similar pieces into a triptych which makes it seem a little more special.

There was a nice print of a part of the chicago skyline (a night shot of s. Michigan) that I considered buying. It was black and white except that my office building and I think 2 neighboring buildings were lit. Then I realized it was stupid to pay the asking price for an ikea print (it wasn't dirt cheap) and why on earth would I want a photo of the place I work on my wall??

Don't rule out buying your stuff at IKEA just because you think that the quality of the items are poorer there. Just because the prices are lower at IKEA doesn't automatically mean that the quality of the items is poorer than more expensive furniture.

If you assemble your IKEA furniture correctly and take care of them afterwards they will last as long as your "better quality items" with the added bonus that you can use the money you save to buy other goods, better quality home entertainment system for example.

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Edited by Radagast - 10/23/11 at 9:10am

I have two IKEA items and they have hold up pretty well. Though I haven't moved...

this dude works for ikea

in Portugal IKEA gives like 10yr warranty for some items, and 30yr warranty for some other items. Where as I see myself having the same decoration for 10 years, 30 years is a very long time!

Nah man, this dude is right.

Of course there is shit from ikea that is made out of cardboard with a thin veneer of wood that will die quickly (like the LACK series of cheapo tables) but there is other stuff that is great.

I have a desk that I have owned since 04 (maybe 03) and has been through many moves (complete disassembly and reassembly). It is still rock solid. But...when I bought it, I knew it was solid. It has a heavy surface (it may be plywood or a hard MDF...not sure) with a real formica/laminate top rather than a thin veneer or layer of paint.

Of course...I also have a Malm dresser with the drawer bottoms falling out and damaged veneer but what do you expect from a dirt cheap (carryover from my first apartment) unit with drawer bottoms made from glorified wooden cardboard.

If you are reasonably knowledgeable about materials/construction techniques...you can tell by walking around the ikea store how long stuff will last. The cheap stuff is good as a filler/short duration object (won't survive many moves) but is not long term. The nicer stuff is built to last (as long as you assemble it to last)

dont you prefer solid wood over that glued together sawdust ? And the design rarely strikes me...