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1983 380 SL
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4,002 Posts
In Canadian cities like Vancouver or Toronto, you would be lucky to get a 1 room apartment for those prices.
Years ago I had an affiliate office in Toronto (I was in the software business). At the time the Canadian's living within 100 miles of the US boarder comprised something like 90% of the total population. Big business in Canada was about 1/10th the size of their US counterparts but the Canadian standard of living was more or less on par with their US neighbors to the south. What did it take to sustain that standard of living in a country that was 1/10th of the US in almost every way except landmass???? Taxes... lots and lots of taxes. I don't know if that's changed or not., perhaps our Canadian friends can comment.
 

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1987 560SL (L.Tonk) [92,700 miles]
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465 Posts
I lived in California for 20 years before moving back to Canada. Taxes are higher, but not astronomically so. The effects of living in a small market (higher prices, less availability) are more pronounced, I think. I pay higher taxes, so less take-home money, but my quality of life is higher so I figure I've come out ahead in the bargain. What I have noticed (and what drove me to move back) is that people just seem more content here, even though they seem to have less. That's just one man's observations.

Canada's real estate bubble is pretty advanced, fueled by low interest rates (1.5% mortgage anyone?), population growth (both internal and immigration), and the concentration of the economy in a few key cities. Average residential price in my town (and this is a Tier 2 city; not Toronto/Vancouver) has gone from $425k to $775k in just 3 years. Mortgages are all ARM equivalents so things will not be pretty if rates go up.
 

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Premium Member
'72 350SL, '85 300D, '98 E320, '19 Subaru Outback (sold '14 GLK250)
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11,686 Posts
I don't think much has changed. Canada is rich in resources and a relatively wealthy country. It's a misconception that taxes are high. My wife and I both had an average tax rate this year of 12.9%. We also get healthcare and other social benefits that you may have to pay for in the USA, if you can afford them.

There are many countries in the world with economies and population 1/10 the size of the USA (or even less). Some of those arguably, may have equal, (or better) average living standards than those in the USA. A lot may depend on how living standards are defined.

While working, I spent quite a bit of time in the USA. Also have relatives there. In retirement, before Covid, we spent 25% of our time in the USA. So do know a bit about it. You do have better winter weather than us :)

Many years ago, I immigrated to Canada and happy that I did! We do enjoy visiting the USA.

Anyway, enough of that - getting off my soapbox :)
 

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1979 450SL UK spec
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2,203 Posts
Well I got a call today from the Real estate agent, the owner of the one with the vegatable plot accepeted an offer so its off the market. That is unusual for Scotland, what normally happens is, once you have viewed, you put in a "note of interest". Once the owner has 2 or more notes of interest, they go to a closing date/time, at which point it turns into a blind auction, you have one shot to put in your best offer and the owner chooses the one they prefer.

The agent told me that after being on the market for 7 says only, the owner was fed up with viewings and had seven notes of interest and instead accepted a verbal offer. Doing this means they left money on the table but then thats their perogative.

Anyway it went for more than £50,000 over the valuation.

I think we will need to offer at least £50k over the valuation to get the other one.
 
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