As I said before. They are planning a couple dozen new ones on Yonge downtown, supposedly up to 90 stories. And eying every major intersection.Condo prices are still going up every month.
Serious condo shortage in Toronto right now, and they're running out of room to build new ones
I'm guessing they will build condo buildings that have stores on the ground floor. That way you keep the shoppers happy while still creating living spaceAs I said before. They are planning a couple dozen new ones on Yonge downtown, supposedly up to 90 stories. And eying every major intersection.
Remember the council is now addicted to the land transfer tax for revenue. No way they don't approve more
Some of them multi-level shopping and some floors commercial. The new trend is not leasing but selling "condo" business space as well.I'm guessing they will build condo buildings that have stores on the ground floor. That way you keep the shoppers happy while still creating living space
And the cost of land has skyrocketed so much that in some cases it's becoming financially unfeasible to build on and make a profit.they're running out of room to build new ones
They will build higher. Latest I've been reading prices will continue to rise. I haven't seen a slowdown yet.And the cost of land has skyrocketed so much that in some cases it's becoming financially unfeasible to build on and make a profit.
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 upThey will build higher. Latest I've been reading prices will continue to rise. I haven't seen a slowdown yet.
The developers will figure out a way. What else will they do? Quit?
And.... people who are paying for the skyscraper-prices are those brown, blue and black eyes...They will build higher. Latest I've been reading prices will continue to rise. I haven't seen a slowdown yet.
The developers will figure out a way. What else will they do? Quit?
Some of them are leaving or expanding into the US. The US market now accounts for a greater share of profits for some developers than Canada/Toronto.They will build higher. Latest I've been reading prices will continue to rise. I haven't seen a slowdown yet.
The developers will figure out a way. What else will they do? Quit?
The rumor is most foreign buyers are corrupt Chinese government people looking to launder their money into Canadian real estate because of our lax lawsRampant speculation in the B.C. condo market: http://business.financialpost.com/r...rush-sparks-local-and-foreign-flipping-frenzy
Those are the rumors, facts on the other hand show that its a tiny minority no different than in the US.The rumor is most foreign buyers are corrupt Chinese government people looking to launder their money into Canadian real estate because of our lax laws
Its not so much that its a tiny minority, its how much that tiny minority is going after the top-end real estateThose are the rumors, facts on the other hand show that its a tiny minority
If 5% are foreign investors and 95% are regular Canadians then how is the 5% getting the blame for what's going on?Its not so much that its a tiny minority, its how much that tiny minority is going after the top-end real estate
Though the catalyst was government intervention demand dropped, inventory is rising (particularly in detached homes, but also all other segments are decelerating), and prices are still very expensive/sticky. Looks a lot like the final stage of a bubble http://www.movesmartly.com/2016/02/how-to-avoid-buying-at-the-peak-of-a-real-estate-bubble-.htmlThe market is now balanced.
http://news.buzzbuzzhome.com/2017/11/5-charts-show-torontos-housing-market-finally-balanced.html
I hope a correction is imminent in 2018 or beyond. I was far too young to get in during 1996 when prices dropped to their lowest levels after the 1990 crash. Since real estate is cyclical, the opportunity is bound to repeat itself.
There is an argument to be made that we're in the hypersupply stage in the cycle: https://betterdwelling.com/canadian-real-estate-works-in-a-cycle-heres-where-we-are/
