Monday, February 27, 2012

Trading up estimate = 17 Times for a Condo!

Maybe people will just laugh at this or maybe you will find it EXCEPTIONALLY interesting.

I am looking to trade my Hot Wheels 2008 Dodge Challenger for something more valuable.

I have even done the math. If I keep trading up for something that is at least twice the value it only takes 17 times and I should be able to trade and get a condo.

The Hot Wheels Car - $2
1st Trade - $4
2nd Trade - $8
3rd Trade - $16
4th Trade - $32
5th Trade - $64
6th Trade - $128
7th Trade - $256
8th Trade - $512
9th Trade - $1,024
10th Trade - $2,048
11th Trade - $4,096
12th Trade - $8,192
13th Trade - $16,384
14th Trade - $32,768
15th Trade - $65,536
16th Trade - $131,072
17th Trade - $262,144

And $260,000 should be enough to trade and get a condo here in Toronto.

So it should be possible to do, but it is going to take effort to get the ball rolling.

Just think of all the hours of fun you could have with a Hot Wheels 2008 Dodge Challenger! Plus I am throwing in a link to your website (or charity of your choice if you don't have a website) to sweeten the deal.


Charles Moffat
Toronto, Canada
February 27th 2012


Follow My Quest for a Condo on Facebook

My QUEST for a Condo - Trading up, the Kyle MacDonald Way!

Kyle MacDonald is a Canadian Blogger who created a website called "One Red Paperclip".

What he did was barter and trade his 1 red paperclip for other items and by the end of the year had traded up to a two-story house (seen here on the right).

This is my new quest for this real estate blog. I am going to trade a number of small household items into larger items and eventually, hopefully, get myself a house here in Toronto.

If you've looked at the real estate prices here in Toronto (the average home is almost $500,000) then you can only conclude that people with little means have no chance of ever owning a home because they're stuck in the endless cycle of renting.

Plus my credit rating sucks, so I could never get a mortgage.

But if I can do what Kyle MacDonald did, then perhaps I could trade my way up to a condo. Sounds like a plan!

So how did Kyle MacDonald do it???
  1. On July 14th 2005 Kyle traded the paperclip for a fish-shaped pen.
  2. Kyle then traded the pen the same day for a hand-sculpted doorknob, which he nicknamed "Knob-T".
  3. On July 25th 2005, Kyle traded the Knob-T for a Coleman camp stove (with fuel).
  4. On September 24th 2005, Kyle traded the camp stove for a Honda generator.
  5. On November 16th 2005, Kyle traded the generator for an "instant party": an empty keg, an IOU for filling the keg with the beer of the holder's choice, and a neon Budweiser sign.
  6. On December 8th 2005, Kyle traded the "instant party" to Quebec comedian and radio personality Michel Barrette for one Ski-doo snowmobile.
  7. Less than a week later Kyle traded the snowmobile for a two-person trip to Yahk, British Columbia.
  8. On January 7th 2006, the second person on the trip to Yahk traded Kyle a cube van for the privilege.
  9. On February 22nd 2006, Kyle traded the cube van for a recording contract with Metal Works in Toronto.
  10. On April 11th 2006, Kyle traded the recording contract to Jody Gnant for a year's rent in Phoenix, Arizona.
  11. On April 26th 2006, Kyle traded the one year's rent in Phoenix, Arizona, for one afternoon with Alice Cooper.
  12. On May 26th 2006, Kyle traded the one afternoon with Alice Cooper for a KISS motorized snow globe.
  13. On or about June 2nd 2006, he traded the KISS motorized snow globe to Corbin Bernsen for a role in the film Donna on Demand.
  14. On or about July 5th 2006, he traded the movie role for a two-story farmhouse in Kipling, Saskatchewan.
So in 14 trades Kyle managed to trade up from a mere red paperclip to a house in Saskatchewan.

Certainly I have some household items that, given time, I could trade up and get a condo here in Toronto.

So I am looking around my apartment.

What could I trade away that would be pathetically small and yet worthy of trading?

And then I spotted it...

A Hot Wheels 2008 Dodge Challenger. Like the one shown here, except mine is out of the package. Approx. value is $2.

I am willing to trade my Hot Wheels 2008 Dodge Challenger for something of greater value that is "Easily Tradeable".

I will be tracking the dates of each trade I make, who I trade with and I will be throwing in a link to your website of choice (ie. a charity of your choice if you don't own a website).

Charles Moffat
Toronto, Canada
February 27th 2012


Follow My Quest for a Condo on Facebook

Friday, February 17, 2012

Toronto real estate bubble grows 3.8%

CANADA - House sales are down across Canada, including Toronto where the average house prices continue to go up despite lagging sales. The average price of a home in Toronto is now just under $500,000 as of January 2012.

Sales are down in over half of Canada. One of the biggest declines are in Toronto and the GTA where sales are down 3% (including seasonal adjustments), according to January housing statistics released Wednesday by the Canadian Real Estate Board (CREA.)

New listings are also down a seasonally adjusted 4.3% across the GTA, resulting in very low inventory of new resale properties on the market.

The low inventory (shortage of supply) is helping to drive up the average house price in the GTA by 3.8%, increasing Toronto's real estate bubble. The average sale price in the GTA from December 2011 to January 2012 to $486,654, according to CREA.

It is estimated the average price in the GTA will reach $500,000 by July or August 2012. The average price only needs to go up an extra 2.8% for it to reach $500,000.

The average GTA home was worth about 8.5% more in January than over the same period a year ago, the statistics show.

Across Canada the average price of a Canadian home hit $348,178 in January, up 1.2% from a year earlier.

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