Todays prompt word for our stroll challenge is Progress. Property values in Toronto are really high and seem to be continuing to rise. I bought my home in 1991, as a Power of Sale, which meant that the bank was trying to get rid of it at a fairly decent cost, probably because they had had to foreclose on someone. It needed a lot of superficial maintenance but has proven to be a wonderful, sturdy, well built home. At the time I was quaking in my boots wondering how I would manage the mortgage and taxes and upkeep on my sole middle income salary, but with a bit of scrimping, (and a border for a while), I managed to eventually pay off the mortgage and keep my sanity without too much trouble. But now….every house in my neighbourhood sells within a couple of days, and almost always over asking, at what I consider astronomical prices. Bungalows (like mine) get torn down and monster homes built in their place. Gardens and green space are disappearing. We sit outside a lot on the porch and watch the world go by, or work in the garden, or in the winter, shovel, but we rarely see any of our neighbours out - everyone seems to stay inside. Companies are hired to maintain the lawns or plow, or they are left unkempt. Is this progress? It's good for me I guess - certainly the value of my home is way more than I ever imagined. (And I'm lucky right now to have good neighbours who probably won't move in the near future)
. But I worry about the "youngsters" coming into the market and buying homes that are surely putting them into financial stress… and what would (will) happen if the interest rates increase? I often wonder why people want to buy a home if they aren't interested in keeping a garden or maintaining their yards and buildings. I also watch as some of these new homes are being built and see a lot of poor craftsmanship (especially in new condo developments), and wonder what will happen in 10-20 years when these places start falling apart. Progress? I'd rather see affordable housing and a change in direction to smaller homes with more yards and green space. (Is my age showing???)
. But I worry about the "youngsters" coming into the market and buying homes that are surely putting them into financial stress… and what would (will) happen if the interest rates increase? I often wonder why people want to buy a home if they aren't interested in keeping a garden or maintaining their yards and buildings. I also watch as some of these new homes are being built and see a lot of poor craftsmanship (especially in new condo developments), and wonder what will happen in 10-20 years when these places start falling apart. Progress? I'd rather see affordable housing and a change in direction to smaller homes with more yards and green space. (Is my age showing???)
2 comments:
Love your thoughts on this and also having it reflected in your art journal!
I see Canada is having similar problems to Australia - prices through the roof, unaffordable rents, and monster houses or where I live multiple dwellings - town house complexes with a shortage of parking so cars clog up the street. Thank goodness for great neighbours where we live - long may they stay.
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