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

  1. #409
    Quote Originally Posted by wonkyknee View Post
    LoL. Now the Hamilton real estate market is the way to go? LOL.

    Even just before the last real estate market crash, Hamilton prices were up. Rexdale and Jane/Finch side splits were going for $400 000 before they dropped to $180 000. Last think I'd do late in a market cycle is speculate in a crappy area. Worst move possible!

    This is an election year. I fully expect JT to get rid of the 2% qualifying rule. Maybe even bring back 30 year amortizations. Maybe increase CMHC mortgage insurance to 1.2million or 1.5million. I hope one of these things staves off a collapse. But make no mistake, this is no time to pay full price for an investment property.
    whats wrong with the hamilton market? its not toronto, but you can make money here. Im not a flipper but I do like to buy a property undervalue so I can make money before hand and then get some sweat equity out of it. the issue is low inventory and people willing to pay over its value. realtors are speculating based on what ifs and "could sell" for as potential to make money on flips.

    Im patience..... just like the stock market, there is always a correction.

  2. #410
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    Quote Originally Posted by clules View Post
    Toronto Average Prices 1980 to 2013 as per Toronto Real Estate Board

    Thanks that was informative!

  3. #411


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

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

  4. #412
    Profitability of residential real estate is greatly exaggerated today. I didn't want to play roulette and invested in herringbone shed construction. As for me, agricultural private business has more opportunities for growth today.

  5. #413
    Guess who the target market is for this project:

    New development at 481 University Ave......Occupancy is not until 2025

    Highlights TD;DR:
    279 sqft Studio: $489,000
    457 sqft 1Bedroom: $782,000
    605 Sqft 1Bed + Den: $1,001,900
    692 Sqft 2Bed: $1,101,900
    Parking: 1 spot = $120,000 (can only be purchased if your condo price is over $1M)
    Maintenance: "approx" $0.75/sqft...aka $1+ for a sqft

    Oh ya...they also want $10,000 in 30 days
    If this sells out quickly, you'll know that Toronto no longer belongs to Torontonians nor Canadians.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

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

  6. #414
    Quote Originally Posted by Smallcock View Post
    If this sells out quickly, you'll know that Toronto no longer belongs to Torontonians nor Canadians.
    Don't kid yourself. the majority of condo sales are going to Torontonians and their thirst for multiple investment properties

  7. #415
    Quote Originally Posted by wonkyknee View Post
    Don't kid yourself. the majority of condo sales are going to Torontonians and their thirst for multiple investment properties
    That's what our incompetent civil servants tell you. Drink the Koolaid.

    Here's the problem. The data they are collecting is flawed. They do not look at who numbered companies are incorporated to unless they're investigating someone for tax evasion. Most Asian investors are operating under numbered companies.

    I am the 3rd generation in Toronto real estate. The number of Asian and Middle East buyers buying without even stepping foot in Canada is absurd.

    Our federal government should have instituted a tax on foreign buyers to purchase real estate. It would cut into the investor's profits but they'd still buy because they are either diversifying their portfolio or hiding money that's been evaded from taxes in their home country. That's the truth.

  8. #416
    I don't listen to heresay. I've seen first hand the numbers of units sold in condo developments to friends and family and insiders. The real estate Cool Aid is full of FOMO. Its full of people thinking they got an early insider buy. Its full of people buying into an up and coming area. Even the tradesmen are getting paid by issuing condos rather than cheques. Sure to a common person without any idea of the actual numbers it seems like a lot of foreign buyers. And make no mistake there are lots of foreign purchases and corporate buyers, but nowhere near the numbers of local multiple unit purchasers. Not by a long shot.

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