Page 7 of 7 FirstFirst ... 34567
Results 145 to 163 of 163

Thread: Toronto Housing Market Implodes: Prices Plunge Most On Record

  1. #145
    Quote Originally Posted by Phil C. McNasty View Post
    I can see Toronto Island opening up for condo development plus perhaps a connecting bridge built. Island residents will fight tooth and nail but the real estate land there is just too valuable to pass up
    Land is protected as parkland and leased for about 75 more years in a sweetheart deal .

    It will not be developed.
    Unlike other I don't need to compensate my shortcomings with a big sig.

  2. #146
    Quote Originally Posted by Butler1000 View Post
    Land is protected as parkland and leased for about 75 more years in a sweetheart deal .

    It will not be developed
    Wow, I never heard of that!

    But if you say so, dammit! Thats protected land for a long time then, Jeezus!!


    EDIT: at least not till 2092........LOL

  3. #147
    Quote Originally Posted by Butler1000 View Post
    Land is protected as parkland and leased for about 75 more years in a sweetheart deal .

    It will not be developed
    But what about Cherry Beach and Tommy Thompson Park?? Also both leased out??

    Stupid deals if so. Thats prime real estate!!



  4. #148
    Quote Originally Posted by Phil C. McNasty View Post
    Where the fuck are you getting your numbers from??
    I read articles from various news sources, then average it out.
    Google is your friend.

  5. #149
    Quote Originally Posted by HEYHEY View Post
    I read articles from various news sources, then average it out.
    Google is your friend
    Okey dokey, maybe you're smarter then me then

  6. #150
    the govt intervention can and will be circumvented as well, this takes a while to set up all the mechanisms to do this. So at some point foreign buyers will be back.

  7. #151
    Quote Originally Posted by nottyboi View Post
    the govt intervention can and will be circumvented as well, this takes a while to set up all the mechanisms to do this. So at some point foreign buyers will be back.
    Foreign buyers are not the problem here.
    Don t believe me?

    Google what percentage of Canadians own real estate. Hint it's a historic high, as is the debt. Add historic low interest rates and you have the cluster fuck that we are witnessing todat.

  8. #152
    Prices are down year-over-year for detached homes: http://business.financialpost.com/re...homes-for-sale

    I hope there is a crash next year. Opportunities like it come but once or twice in a lifetime. The last time it happened in the 90s... if you picked up a house in 1996 when house prices had tanked to their lowest level from the high of the late 80s, you were golden. My generation has never had such an opportunity and I hope it's around the corner.

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

  9. #153
    Quote Originally Posted by Smallcock View Post
    Prices are down year-over-year for detached homes: http://business.financialpost.com/re...homes-for-sale

    I hope there is a crash next year. Opportunities like it come but once or twice in a lifetime. The last time it happened in the 90s... if you picked up a house in 1996 when house prices had tanked to their lowest level from the high of the late 80s, you were golden. My generation has never had such an opportunity and I hope it's around the corner.
    Interesting analysis using several years of data: http://torontorealtyblog.com/archives/20057

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

  10. #154
    So Toronto did not follow the US bubble of 05-06 and burst in 07-08?

  11. #155
    Quote Originally Posted by lampbreaker View Post
    So Toronto did not follow the US bubble of 05-06 and burst in 07-08?
    Nope. And detached doubled to tripled in the time since.

    We have banking rules and no subprime market. As well as mortgage insurance.
    Unlike other I don't need to compensate my shortcomings with a big sig.

  12. #156
    We do have a subprime market in Canada. They're called insured mortgages provided by CMHC. However, our underwriting is far superior than the subprime mortgages that were handed out like candy in the US. Even in our "shadow banking" systems such as credit unions, underwriting is much more stringent.

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

  13. #157
    Quote Originally Posted by Smallcock View Post
    Prices are down year-over-year for detached homes: http://business.financialpost.com/re...homes-for-sale

    I hope there is a crash next year. Opportunities like it come but once or twice in a lifetime. The last time it happened in the 90s... if you picked up a house in 1996 when house prices had tanked to their lowest level from the high of the late 80s, you were golden. My generation has never had such an opportunity and I hope it's around the corner.
    Hind sight is always 20/20. If you picked up a bitcoin for $1 in 2013, it would be worth $20000 now.

  14. #158
    So much for that foreign buyer fear mongering

    https://www.cp24.com/news/non-reside...onto-1.3727639

  15. #159
    Quote Originally Posted by HEYHEY View Post
    So much for that foreign buyer fear mongering

    https://www.cp24.com/news/non-reside...onto-1.3727639
    That article was ad-supported buy your local real estate agents

  16. #160
    Quote Originally Posted by HEYHEY View Post
    So much for that foreign buyer fear mongering

    https://www.cp24.com/news/non-reside...onto-1.3727639
    According to this article, demands and investment-speculation from domestic residents are the sources of real estate's price hike.

    I personally know someone who has rented at least 5 apartments / condos in Toronto and has profited from conversion of long term rental properties to Air BnB rentals. That is probably the main reason why rents are so high in Toronto.

    It's a sad thing in this society because it's all about "greed".

  17. #161
    Quote Originally Posted by NiceToMeetYou View Post
    According to this article, demands and investment-speculation from domestic residents are the sources of real estate's price hike.

    I personally know someone who has rented at least 5 apartments / condos in Toronto and has profited from conversion of long term rental properties to Air BnB rentals. That is probably the main reason why rents are so high in Toronto.

    It's a sad thing in this society because it's all about "greed".
    Define domestic residents. I'm betting several ownership are under incorporated holding companies. And the sole shareholder is offshore with a Canadian lawyer to front.

    There were entire buildings where foreign investors were given fest crack before hitting the public.
    Unlike other I don't need to compensate my shortcomings with a big sig.

  18. #162
    Quote Originally Posted by NiceToMeetYou View Post
    According to this article, demands and investment-speculation from domestic residents are the sources of real estate's price hike.

    I personally know someone who has rented at least 5 apartments / condos in Toronto and has profited from conversion of long term rental properties to Air BnB rentals. That is probably the main reason why rents are so high in Toronto.

    It's a sad thing in this society because it's all about "greed".
    Its not just about greed. If you rent long term you completely lose control of your property, the tenancy act is pretty absurd. Why should someone invest 500K and lose complete control of the property for a lousy 2K/month in rent? Why can't you write a lease that has a start and end date that both parties can agree to? Its all pretty ludicrous. If the govt wants to impose these terms on landlords it should subsidize them and provide other financial incentives.

  19. #163
    Quote Originally Posted by nottyboi View Post
    Its not just about greed. If you rent long term you completely lose control of your property, the tenancy act is pretty absurd. Why should someone invest 500K and lose complete control of the property for a lousy 2K/month in rent? Why can't you write a lease that has a start and end date that both parties can agree to? Its all pretty ludicrous. If the govt wants to impose these terms on landlords it should subsidize them and provide other financial incentives.
    The person whom I know hasn't actually bought a condo for 500k or more. What he has done is to sign a long-term lease with a landlord pretending that he wanted to live in those 5 or more apartments or condos. Instead, if the apartments are not fully furnished, then he furnished them by picking things up from the garbages where people threw things away such as mattresses, couches, coffee makers and whatever he can find for free. Then he has listed in the Air BnB those 5+ apartments / condos which he has rented as a "long-term" from the real landlords.

    So he indeed pulls those 5+ apartments/condos from the long-term rental market and converted them into Air BnB for his own profit. To me, it's the "greed" driven.

    I'm sure he's not the only person who does this. It's probably another thousands people who are doing the similar things and pulling thousands of long-term properties out of the long-term rental market and into Air BnB.

Page 7 of 7 FirstFirst ... 34567

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •