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Thread: real estate..... is it true??

  1. #241
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    B.C. is due for a correction. Toronto is going to hum along just fine in 2017.

    The remainder of Canada will be stagnant.

    I want you to point your finger at me. I want you to call me names.

  2. #242
    Holy moly even condo sales are going down in Van

    https://betterdwelling.com/city/vanc...7-in-december/

  3. #243
    Clarks lifting the foreign buyers tax on foreigners with work permits who pay taxes in BC

  4. #244
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    GTA Detached Home Prices Up 28% in January
    http://www.movesmartly.com/2017/02/d...ipalities.html

    Look at some of the gains in some of the cities listed. Aurora up 55%

    I agree with the article that these GTA price increases are unsustainable.

    I want you to point your finger at me. I want you to call me names.

  5. #245

  6. #246
    Saw an article in the G and M.

    A house in Greektown went for over a million. It was on a 20 ft by 78 ft lot. A 1920's built bungalow and advertised as a teardown.

  7. #247
    Quote Originally Posted by Butler1000 View Post
    Saw an article in the G and M.

    A house in Greektown went for over a million. It was on a 20 ft by 78 ft lot. A 1920's built bungalow and advertised as a teardown.
    YAAAAA!!! beautiful....I am looking to sell this year

  8. #248
    Quote Originally Posted by Butler1000 View Post
    Saw an article in the G and M.

    A house in Greektown went for over a million. It was on a 20 ft by 78 ft lot. A 1920's built bungalow and advertised as a teardown.
    It was listed for something like $600,000.

  9. #249
    Quote Originally Posted by SkyRider View Post
    It was listed for something like $600,000.
    $600,000 for a piece of land is quite expensive.

  10. #250
    Quote Originally Posted by exceed View Post
    $600,000 for a piece of land is quite expensive.
    not anymore, In my neighbourhood they buy for 8 to 9 and tear them down

  11. #251
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    http://news.buzzbuzzhome.com/2017/02...tate-2017.html

    http://www.macleans.ca/economy/econo...es-so-what-is/

    So at this point speculation and foreign buyers are driving the market in Vancouver and Toronto. The acceleration of house prices is not explained by population growth (which has been more or less tepid) which the 2016 census shows. Years of low interest rates, alternative lending, and non-traditional living (buying/sharing homes), string job growth and employment, and lack of inventory explained price growth up to now but with record levels of debt there is no reason for prices to continue going up at break neck speed and actually accelerating.

    I think we're entering the final stages before the bubble bursts - hysteria and high speculation.

    The bubble may burst into a soft landing considering the factors mentioned but we'll see.

    I want you to point your finger at me. I want you to call me names.

  12. #252
    Quote Originally Posted by exceed View Post
    $600,000 for a piece of land is quite expensive.
    You're paying in and around $ 1M - $1.5M in the Kingsway area, depending on location, for a tear down on a 1 1/2 storey.
    Sure you can still live in it, but it hasn't been touched since it was built in the 40's or earlier.
    You're paying for the lot.

  13. #253
    Quote Originally Posted by Smallcock View Post
    http://news.buzzbuzzhome.com/2017/02...tate-2017.html

    http://www.macleans.ca/economy/econo...es-so-what-is/

    So at this point speculation and foreign buyers are driving the market in Vancouver and Toronto. The acceleration of house prices is not explained by population growth (which has been more or less tepid) which the 2016 census shows. Years of low interest rates, alternative lending, and non-traditional living (buying/sharing homes), string job growth and employment, and lack of inventory explained price growth up to now but with record levels of debt there is no reason for prices to continue going up at break neck speed and actually accelerating.

    I think we're entering the final stages before the bubble bursts - hysteria and high speculation.

    The bubble may burst into a soft landing considering the factors mentioned but we'll see.
    Houses will not bubble on their own. It will take a major economic downturn, huge job losses within the city. And severe restrictions on foreign investment.

    If you have land it will still be worth huge. I don't see a drop. A temporary leveling maybe. And only until the economy improved. There is just a crapload of money and business in this city.

  14. #254
    Shoot, when I lived in Montreal you could buy a nice new house in Dollard or Brossard for around $22,000 which was basically what a young professional would make in one year at that time. I preferred Dollard because it is on the island whereas Brossard is on the other side of the river. Wonder how much those houses are worth to-day?

  15. #255
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    Would like to see inflation adjusted and currency valuation graphs of the same.
    There's nothing wrong with thinking
    Except that it's lonesome work

  16. #256
    dont have a crystal ball but realestate is still the place to invest for this year.

  17. #257
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    Vacant homes a problem in major cities: https://betterdwelling.com/vacant-ho...ghting-60-tax/

    I want you to point your finger at me. I want you to call me names.

  18. #258
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    Average detached house in Toronto costs $1,573,622
    http://www.trebhome.com/market_news/...watch_0217.htm

    I want you to point your finger at me. I want you to call me names.

  19. #259
    I've noticed a trend where new home prices are much higher than resale. Speculators are treating new home sales like an options contract. Relatively small deposits put down on homes to be built in 1-2 years simply on the basis there is no need to finance until closing with the assumption that prices will be higher at closing. Maybe sell the paper before closing. Good luck. Works for awhile until it doesn't any more.
    Interesting when people say 2017 still a good year to invest in Toronto real estate. Was 2016 a good year too? When it's no longer a good year that usually makes the previous 2 years no longer a good year. Real estate is a long term equity investment. Why look only one year out on a highly leveraged investment that often takes months to close not seconds.

  20. #260
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    Great points, wonky.

    For some perspective here is a documentary about the San Francisco real estate market in 2015:
    https://www.youtube.com/watch?v=SBjXUBMkkE8

    A whole different scale. To date, I think prices there have continued climbing unabated.

    Comment taken from https://www.facebook.com/groups/263249097430694/ "I lived in SF for three months last year- I stayed in a hacker house in the 2nd sketchiest neighbourhood there, shared a room with 7 other women (bunkbeds), 40 in the entire house, and paid as much as people in Toronto pay for a one-bedroom near the downtown core. I've never seen anything like it. I hope Toronto never gets that bad"

    A look at San Fran in 2016
    https://www.youtube.com/watch?v=LVVO8b4vvis

    I want you to point your finger at me. I want you to call me names.

  21. #261

  22. #262
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    Here’s What Artificial Intelligence Tells Us About Toronto Real Estate Prices

    https://betterdwelling.com/city/toro...estate-prices/

    I can't wait for their follow-up article containing AI's real estate market predictions.

    Recall that AI predicted Trump would win the US election when most thought it impossible.

    I want you to point your finger at me. I want you to call me names.

  23. #263

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