Tuesday, August 23, 2011

Ontario cottage market in stasis

Well, it's been a very quiet time at the lake this summer.  I guess it's been the price of gas, or that everybody is in debt up to their eyeballs.  All the 'first generation' cottage owners are nearly dead.  At the landing I saw this crippled old man with a very fancy party boat (on pontoons).  I said "Nice party boat." and he said that it wasn't the reason he bought it, it was the only thing he could get in to!

Not just for parties!

Really, how many extra years just this buy you, if you only have boat access, like most of our lake?  So, the old neighbours are selling because they want a road-access cottage.  Turns out that the market is stalled, and there are several cottages for sale on the lake, and I've also seen quite a few deserted cottages that are probably caught up in probate.  This always happens when the sellers are looking at the past boom, and buyers are all sinking their money into Toronto condos.  :)  Don't know how long this will last.

1 comment:

Anonymous said...

Funny that the youth are thinking short term and sinking money into 1 bedroom condos. Where will the Echo generation live when they have kids and the Boomer's won't give up their homes and move into condos?

Too bad cottages aren't an option...