Here in Calgary I have a home that is worth $15,000 sitting on a lot that is close to half a mil. Most of the homes that sell around here are torn down and newer mansions built.
Beats renting... which is what I've been doing for the past 25 years.Yeah, we're making a killing on this place.
Not necessarily and congratulations. It does feel better to own, in my opinion.Beats renting... which is what I've been doing for the past 25 years.
However, I just bought my first house last month (deal closes on June 1). So now I can start shoveling money into my *own* hole.
http://www.thisislondon.co.uk/resta...ails/Five+London+pubs+close+a+week/article.doFive London pubs close a week
By Elizabeth Hopkirk, Evening Standard 14.02.07
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The Hog in the Pound has been sold to developers
The Red Lion in Soho has already shut
Last orders has been called on The Phene Arms in Phene street
The Intrepid Fox in Wardour Street is no more
London pubs are closing at a rate of almost five a week, campaigners warn today.
Research by the Campaign for Real Ale shows that the capital lost 230 last year - a 53 per cent increase in the rate of closures compared with the year before.
The group says the loss of historic watering holes is damaging the character of high streets across the capital.
Or Yahk...Here's to hoping I can find a decent place under 500k in Burnaby... or New Westminster... or Coquitlam...
The social impact of high land costs is devastating.This Affordable Housing Would Stay Affordable
By CAITLIN KELLY
Published: April 15, 2007
FINDING affordable housing in Westchester — the nation’s seventh-most expensive county, according to census data — is never easy. Even long-term residents of properties built with county, state or federal subsidies inevitably face steeper housing costs when their homes eventually revert to market rates.
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Some 240 properties have already lost their price caps this year, and 4,000 more in 11 communities will soon follow suit.
Last month, County Executive Andrew J. Spano proposed the creation of a land trust whose goal would be to preserve affordable housing in perpetuity. A coalition of 15 developers, housing advocates, bankers, lenders and county officials served as advisers to create the trust, which is expected to be operating by July. The trust will set up a bank of land, donated by towns, villages or cities; developers will be able to build affordable housing for rent or sale on parcels from that bank, which will remain the property of the trust, rented out in 99-year leases.
“There is not enough, and a decreasing amount, of subsidized housing in Yonkers,” said Jon Shenk, executive director of the Cluster Housing Resource Center, a nonprofit housing advocacy group. “It’s a problem.” Residents of subsidized housing who soon face higher market rates fear losing their homes, he said.
Tanya Mahboob, a tenant at the Whitney Young apartment complex in Yonkers since 1999, has heard that her rent will probably rise $300 from the $1,300 a month (30 percent of her salary) she now pays for the affordable-housing three-bedroom, two-bathroom apartment she shares with her three sons. None of her sons, ages 18, 19 and 26, have full-time jobs, but all are now looking for work to help her financially, she said. “It would be scary for me if they weren’t here to help,” she said. “I’d have to look at moving or take on a second job.” Ms. Mahboob, who works as a project manager for Starwood Hotels, called the rent increase “a big change a lot of people weren’t prepared for.”