Buy the house or rent the house? Real estate in Canada. Coming Deflation Will Kill Real Estate Investors Mike Maloney

Please share how is the rent vrs the ownership in your area? What is the interest rate on the mortgage.

17 Responses to Buy the house or rent the house? Real estate in Canada.

  1. mary smith

    For condos and houses I would say Circlapp is an awesome website for finding houses or condos rentals in Canada.

  2. J Pol

    Another thing people should know when buying property is that anyone can put a lien against your property without advising you. You could sell your house in 10 years for example, and find out some contractor had put a lien on it, claiming you owned him money when you did not. Or your relatives may try to sell the house after your death and be told "oh oh, there's a lien on it so we have to take away half of its value" or whatever.

    It's completely absurd that any lien should be allowed to be placed on any property without it being mandatory law that the owner must first be notified by signed registered mail. Why would the LACK of such a law be so DELIBERATE when it makes no sense whatsoever? It can be very dangerous to own property these days. How would you ever defend yourself 10 years after the fact, for instance, if a contractor simply lied in order to one day be entitled to seize part or all of your property? Please comment if you have information that counters what I have said as I too would like to know more.

  3. J Pol

    The dangers of buying property in Alberta is that you receive only computerized copies that can be duplicated and the names changed on any of those documents. No one will give you a valid stamp to prove that in the event that a hacker changed the information, you have a valid copy. Registry offices will tell you they don't own a stamp or stamp pad and despite the assurance that it would be impossible for any hacker to change anything, they also wouldn't want the responsibility if someone did hack into it and change the figures. They will tell you that it would be impossible for any hacker to do this because they would have to hack into three different areas, but of course won't tell you where those areas are. So if any corrupt government ever decided to do the hacking itself, I would imagine this could be easily done. Under no circumstances will anyone in government allow you to have a stamp of any sort, with a signed date and signature that is anything but the computerized printed one. You can't have a live stamp. No one will dare verify that your computerized printout is valid.

    Some registry officers do have commissioners of oaths but they won't provide that service for payment either. (Some may but I don'/t know which yet. You may be able to pay a lawyer a few hundred dollars for a validation stamp though I suppose). Even though Alberta registry offices claim their systems are completely secure and unhackable, no one in government will take the responsibility of giving you any kind of validation stamp that's not a printed one showing not the date you asked for the document but the date you purchased the property, that came off of a computer screen. This leaves some people to believe that their property ownership may one day be at great risk. Why would no one in government DARE give you an authorized non-computerized stamp with a date and signature? Can you trust government. Most will tell you, "never!"

    I can only assume that nothing could be more wonderful for government than when "NO ONE" owns property anymore because then they can charge lifetime interest and raise it at whim, which could be very profitable indeed. In fact, since most homes today are owned by unknown contractors who buy dozens of them (or maybe even far more than that), it seems obvious that forcing people to owe government even more money for a lifetime is part of the world plan. For all anyone knows, it may not even be Canadians themselves that have bought most Canadian land. Does no one care if citizens or government from another country buy out literally all Canadian land or might there be reasons countries might not want their people to know that pretty well every piece of earth their citizens walk on has been sold to some other country?

  4. J Pol

    If you buy property in Alberta, you will not receive a hard copy of any of the documents. Those are sent by the province to a local registry office where you can purchase each document separately for about $20 to $25 or maybe about $100 to $125 for the whole thing. You can't buy this information or papers from the government — only from registry offices. What if you don't know the land number? Well then, you can pay another $25 for the registry office to look up the address to get that land number because the registry office has to tap into the city computers. The city doesn't transfer that information to the land titles' office so you have to buy that also from the registry office. Not only do Canadians pay among the highest taxes in the world, but they are also nickled and dimed to death for every piece of paper they feel they should have a right to – or I guess I should have said "every single piece of COMPUTERIZED paper they receive" which is the only type of paper they are allowed to have.

    If you know of differing information, or even have similar types of information from other provinces, it would be interesting to see your comments, as it's quite scary when a country teaches all of its employees that pretty well no government system is hackable, and when they will not be required to stand up for you if it is, and also when your information is breached, there are no laws stating you must be informed, which is suspicious in itself and which explains why, despite endless breaches of millions of medical and other records, almost no one has ever been advised. Laws are not put in place to protect people; they are put in place to protect government and purposely leave the people as unprotected as possible.

  5. J Pol

    I believe that in Canada, Quebec is the only province entitled to full property rights, because provinces themselves have the right to decide who is allowed to own what, or what they wish to seize from property owners. There are so many property rights laws that conflict with one another it would probably cost tens of thousands of dollars to challenge any, and I doubt any individual would win any case against any province. Who, after all, hasn't heard the expression "you can't fight city hall?"

    Having said that, even when government gives people energy rebates, those rebates somehow end up not in the hands of the people who are supposed to receive it. Instead city hall demands that the government sends them the cheque instead so the larger use could be of more benefit to all of the people than the smaller amount would be to any stupid citizen. That could be because sometimes they feel it's more costly to mail out a $20 cheque to an individual than to gift that cheque as promised to each individual.

    City Councilors do not need permission to steal the cheques to ensure they are spent where THEY want them to be instead of where individuals want to spend this cheque that rightfully belongs to them. They simply make arrangements with governments to instead send the citizens' cheques to them directly. No permission is required from any individual because if they want an individual's money, claiming it would cost more to mail out individual cheques, they and government give themselves the right to ensure the money will be redirected to the councillors. So any government rebate can never be guaranteed. What government says it will do is usually NOT what happens. The way I see it, there is no reason this rebate couldn't be simply credited to an individual's energy or home ownership bill.

  6. Ijlal Elwadi

    I'm looking for homes for sale near Toronto . family style . what area do you suggest for some one coming from United state

  7. B Black

    Move to Canada!!!!
    Here's a Site for Buying Cheap Houses in Canada:

  8. B Charron

    Alexis you should check out this very interesting documentary:

  9. B Charron

    **I am glad i bought my house 19 years ago for almost 1/3 what it sells for today, and I paid it off a long time ago. It's ridiculous how much people pay for them now. I am thinking of renting out my home, buy an RV, Travel, and enjoy my life, but I have to wait until the young ones are gone from our house. You can't beat the minimalist lifestyle of RVing your way to enjoying life, travelling, exploring, learning, enjoying life.**

  10. BugsMr123

    Not really relevant, but it rouses my curiosity … The other side of the picture is the hyperinflation hypothesis. Is it better to own an asset in a period that is threatening a hyperinflation? I'd like to hear your thoughts on that fed into this discussion.,

    I renewed last March for 2.7% I find your numbers really larger than I would have anticipated. Perhaps Ontario takes less land transfer tax?

  11. Type Password Here

    do you receive mortgage & property tax write off on your income tax return as we have in u.s.?

  12. frenchy137

    Great video, I made those calculations a couple of years ago when I wasn't sure if I should buy or rent in the small town I live in Granby (1 hrs from Montreal)> And today I'm glad I decided to rent since my job has just moved to St-Hubert just south of Montreal. I will soon be renter in St-Hubert lol
    I tell all the young people I see not to be too quick about buying a house and think about renting.> I am convince there will be a time to buy houses in Canada for those who don't mind waiting but it's not now when the market is so high.

  13. Larissa M

    As a good rule: Its best to rent, unless its cheaper to buy and you want to stay at the property for at least 3 to 4 years minimum!  Its a numbers game and a personal choice of your time-frame and intent for the property.

  14. Accuracy Marked

    Wow…your land transfer of $5,000. Canadian dollars is huge….we call that the "title transfer" in the states and it's usually only a few hundred dollars…$200 to $400. That house sure does seem overpriced…was that like inner city dwelling in a large established city…like Montreal, or Quebec ….with that kind of money you can buy a new 6,000. sq feet or 667. sq meter home in the united states around most cities- suburbia.

  15. Eden Signal

    Is your scenario based on the average house price in Canada? Are Vancouver prices the same as Quebec for example. Reason I ask is because over here in the UK, the spread on house prices are wild. A house in Scotland or Wales is miles cheaper than England. But in England the spread between say Manchester and London is incredible and ridiculous. Buying a house or renting in London is too much. I moved out 2 years ago, I rent and have bills infused in the rent which is pretty cheap for the flat we have, council tax is lower aswel. Until the housing market crashes, I will never buy.

  16. Gand-Alf

    I know a guy who personally owns probably 30+ houses. Very rich guy. He even says Canadian housing is way overpriced and starting beginning this year has begun to sell all his houses. He thinks it finally crashes in Canada this year…