College Park, Oakville, ON - Blog

Flashback to 1969... Is housing really more unaffordable today?

thomas.ferguson@century21.ca — Tue, 21 May 2013 00:00:00 GMT

Flashback to 1969... Is housing really more unaffordable today?

We keep hearing it on the news, from government, economists and banks... housing is more unaffordable today than it was for previous generations. Is it really as much as people claim?

We thought we would take a look and see at what the differences are.

In 1969 the average household income was hovering at around $8000.00 per year. Most were single income and if you made $10,000.00 a year, you were considered to be well paid. A new car would cost you anywhere from $600.00 to as much as $25,000.00 depending on the make and model. A quart of milk was about 10 cents, a loaf of bread the same.

If you wanted to buy a single family home in Toronto, you would be paying anywhere from $25,000.00 to as much as $100,000.00 (if you wanted a mansion). Today that seems like a steal of a deal, but let's take a look at some of the differences between then and now...

In 2001 the average size of a home was about 1700 square feet, 58% had 3 or more bedrooms, 57% have one and a half or more bathrooms. In 2001, 76 percent of homes had a washing machine, 73 percent had a dryer, 56 percent had a dishwasher, and 44 percent had a kitchen sink garbage disposal; 58 percent of homes had a garage, and 80 percent had an outdoor deck or patio. In 2001, 82 percent of homes had some form of air-conditioning and 55 percent had central air

Compare that to 1969... the average size of the home was LESS than 1200 square feet. Fewer than half of homes had three or more bedrooms and only 30 percent had 1.5 or more bathrooms, in fact not even all homes built in 1969 had central heat (only 38%) or air conditioning (11%). Can you imagine not having plumbing? Only 93% of new homes came complete with Sinks, toilets and bathtubs!

In 1969 a starter home was just that, a starter home - there were very few of the amenities that we enjoy today. Granite counter tops, stainless steel appliances, etc. were not even options that were available. The cost to build a home... around $21.00 per square foot compared to over $150.00 today.

We also need to take a look at what it took to qualify for a mortgage. In 1969 you need a minimum of 25% down payment, and you could not have a GDS higher than 30% and TDS of 40%. That meant that to buy a basic small starter home you needed to come up with $6250.00 - on an income of only $8000.00 before tax, it took families years to save to buy the home.

With interest rates at 12.5% and the need to save $6250.00 it would appear that homeownership was unattainable, however rates of homeownership in Canada have remained fairly steady since 1969, and in fact have been increasing for the younger generations.

Home ownership is expensive, and as the cost of housing has gone up it has been more challenging. No longer is it easy for a single income family to buy a home, but it can still be done. There are options for mortgage financing that can assist you in achieving your dream, the best person for you to speak to is a licensed real estate professional and mortgage professional.

Taken from Centum Mortgage

Fore! The Kids

pamela.prescott@century21.ca — Wed, 15 May 2013 00:00:00 GMT

Third Annual Bradford Children's Charity Fund Golf

Tournament

Century 21 Heritage Group Ltd.'s 3rd Annual Children's Charity Fund Golf Tournament recipient for 2013 is Talon Collett.

Talon is a vibrant 6 year olf boy who has faced a challenge in his life called Acute Lymphoblastic Lukemia. Diagnosed on September 11, 2009, Talon has endured regular chemotherapy treatments that have needed to be administered on a daily basis orally and in the form of injections.

Although the chemotherapy treatments have currently ceased, they have left Talon with a weakened immune system, as well as other parts of his body. Talon often experiences numbing in his hands and feet, making mobility a challenge; decreased muscle control, particularly affecting his eyes and vision; thin membranes in the ears, which causes sporadic ear bleeds, and back pain from the lumbar punctures where chemotherapy was administered to aide in recovery. Doctors have told the Collett family that Talon needs to be re-socialized and taught to be a child again.

Aside from all of the challenges and changes that Talon has endured, he is looking forward to re-socializing and getting back to a regular life.

Talon enjoys video games and has a special interest in space and the universe; the sea and sea creatures. He also enjoys singing karaoke with his younger sister Tempest (3 years).

As a result of Talon's diagnosis of Acute Lymphoblastic Lukemia he now also reqires the aide of certified professionals:

A Physical Therapist (P.T.) and Occupational Therapist (O.T.) to assist, develop, maintain, and recover his daily living skills.
An Applied Behavioural Therapit (A.B.A.) and Speech Pathologist, to assist him with his High Functioning Autism (H.F.A.)
And a Neurologist and Psycologist to aide him with Post Traumatic Stress Syndrome (P.T.S.S.) and Autism (H.F.A.).

These therapies come at an excessive cost to the Collett family. they require any support possible to help Talon work his way towards the life of an average 6 year old boy. Your support this year would mean so much to the Collett family and Century 21 Heritage Group Ltd. at this year's 2013 Bradford Children's Charity Fund Annual Golf Tournament.

This year the Golf Tournament will be held at The Highland's Golf Club in Bradford, Ontario. Come and join us for a game of golf, lunch and dinner. Other ways to support include, but are not limited to, prize donations and hole sponsorships. Please contact the Golf Tournament Co-ordinator Luis Moniz* with interest.

For additional information and sponsorship

opportunities please contact Luis Moniz* at

905 775 5677 ext. 5367

*Sales Representative

2459 Baintree Cres North

salil.joshi@century21.ca — Tue, 14 May 2013 00:00:00 GMT

Home for sale, this is a true diamond in the rough, it need work to bring it up to par but with location of home and the up and coiming schools and developments and commerical properties, this home is truly an investement to be had. Pls visit the site for more info or contact me to set up a private showing. www.2459baintreecresnorth4sale.com

85 MICHIIGAN AVE

gurpreet.sekhon@century21.ca — Tue, 14 May 2013 00:00:00 GMT

85 MICHIGAN FOR SALE - MAVIS/ STEELES, BRAMPTON -

LOVELY BRICK DETACHED TWO STORY FINISHED BASEMENT WITH 2 BEDROOM AND 4-PC WASHROOM SPACIOUS EAT IN KITCHEN WITH BREKFAST AREA SEPARATE ENTRANCE TO BASEMENT. CLOSE TO PUBLIC SCHOOL, SHOPPING AND TRANSPORTATION.

CONTACT GURPREET SEKHON 905-673-3100 FOR FURTHER INFORMATION