There are many illegal rooming houses in Toronto. (Ever notice when a house catches, 30 people are left homeless.) The City turns a blind to illegal rooming houses because they are an unofficial form of "affordable housing".
real estate..... is it true??
- Thread starter parisbeautiful222
- Start date
What would start a crash is if government curtails immigration.
Do u folks have any idea how many wealthy middle eastern poeple want into Canada and Australia and new Zealand. Millions of secular wealthy middle eastern people (this includes secular and atheist jews BTW) r sick of the religious tribal bull shit and want out. And they have the money to buy a house in Toronto. And we're not even talking about the millions of Chinese, Koreans and Vietnamese who have oodles of money and want out of the crowded semi authoritarian far East. Oh and BTW! California, South America, and Africa r running out of water so their wealthy folks r next in in line to buy a house in safe secure utility abundant Toronto. .
The Word is out all over the world folks.... Canada is the place to move to if u want a safe secure place to live and u have some cash.
Do u folks have any idea how many wealthy middle eastern poeple want into Canada and Australia and new Zealand. Millions of secular wealthy middle eastern people (this includes secular and atheist jews BTW) r sick of the religious tribal bull shit and want out. And they have the money to buy a house in Toronto. And we're not even talking about the millions of Chinese, Koreans and Vietnamese who have oodles of money and want out of the crowded semi authoritarian far East. Oh and BTW! California, South America, and Africa r running out of water so their wealthy folks r next in in line to buy a house in safe secure utility abundant Toronto. .
The Word is out all over the world folks.... Canada is the place to move to if u want a safe secure place to live and u have some cash.
Some people (yes, there will always be some people) who criticize Canada for "robbing" these other countries of their best and brightest. BTW: Haven't these folks heard of Bill C-51?
I think the difference now is that population density has created more demand than supply of homes. Many more people are living and working in the city than in 1989. There is more than a million more people in the census metropolitan area today than in 1989, yet no more land created for new detached homes over that time.
Condos are something else. I wouldn't expect them to appreciate very much for some time. There is plenty of inventory and even more supply on the way. We could see a softening or correction in the condo market. But even then, I wouldn't expect anything dramatic, unless jobs disappear rapidly.
Toronto has high home ownership which stands at 70%. I expect this will decrease in the coming years to around 50% as it has in most major cities. When it becomes too expensive to buy a home, people who would have bought a home in years past, will have two choices - rent in the city close to work and amenities or move to the burbs and face hours long commutes to work.
In the 90s people left the city in droves for the big house in the burbs. Now people are leaving the burbs in droves to live in the city. Unless that trend reverses again, it will also help to stabilize the housing market and add extra protection against any type of major housing crash.
Transfer of Assignment - Purchase and Sale Agreement
- Purchase and Sale Agreement dated July 2013.
- Interim Occupancy Date of Oct 2015
- Possible closing date Spring or Summer 2016.
- New unit in Townhouse/condo development in west GTA
- good investment/rental income property
Please PM if you may find this opportunity of interest to you.
- Purchase and Sale Agreement dated July 2013.
- Interim Occupancy Date of Oct 2015
- Possible closing date Spring or Summer 2016.
- New unit in Townhouse/condo development in west GTA
- good investment/rental income property
Please PM if you may find this opportunity of interest to you.
Certain types of condos are growing in demand too - the type that are harder to find. There is a sea of one bedroom condos, but two+ condos with large size is not so easy.
http://www.thestar.com/business/rea...o-market-feels-heat-as-house-prices-soar.html
This article elaborates on some of the reasons for high home prices (basically supply vs demand): http://www.thestar.com/business/rea...nges-pushing-housing-prices-out-of-reach.html
It also includes some interesting stats at the bottom:
$409,000
Amount of combined mortgage and consumer loan debt carried by the average GTA household thanks to rising house prices and lure of low interest rates, according to consumer credit reporting agency Equifax.
5
Average percentage a year that mortgage carrying costs have climbed in the last three to four years, just because of rising house prices.
$1,700
Average monthly rent in the GTA of investor-owned condos largely geared to middle-income earners.
$18,000
Average development charges now levied on a new condo in the City of Toronto, which has increased fees more than 100 per cent. The 905 regions charge even more, citing the costs of new infrastructure.
$28,000
Development charges for a single-family home in the 416.
$140,000
Annual income needed to finance a single-family home in the GTA, which TD says now costs about $740,000.
http://www.thestar.com/business/rea...o-market-feels-heat-as-house-prices-soar.html
This article elaborates on some of the reasons for high home prices (basically supply vs demand): http://www.thestar.com/business/rea...nges-pushing-housing-prices-out-of-reach.html
It also includes some interesting stats at the bottom:
$409,000
Amount of combined mortgage and consumer loan debt carried by the average GTA household thanks to rising house prices and lure of low interest rates, according to consumer credit reporting agency Equifax.
5
Average percentage a year that mortgage carrying costs have climbed in the last three to four years, just because of rising house prices.
$1,700
Average monthly rent in the GTA of investor-owned condos largely geared to middle-income earners.
$18,000
Average development charges now levied on a new condo in the City of Toronto, which has increased fees more than 100 per cent. The 905 regions charge even more, citing the costs of new infrastructure.
$28,000
Development charges for a single-family home in the 416.
$140,000
Annual income needed to finance a single-family home in the GTA, which TD says now costs about $740,000.
So, if I buy banks stocks, and the market crashes, the banks will end up holding a bunch of real estate, their profits will drop due to the money they are losing on real estate - I will lose money on the stock.
Leverage? The main reason the Americans got into trouble is their fragmented banking system let people over-leverage. This is rather difficult in Canada, as they make you prove your income, and won't let you borrow past about 40% of your net monthly income for all your credit.
Last point......the banks don't hold the mortgages for long. They are bought up by the bond markets.
Banks stock always bounce back. Just buy the "Big 5". The biggest real estate fortune in recent memory were the Reichmans. They went bust, their banks are still around.
Right....but per my previous post, the mortgages have been sold and carried in the bond market. So they aren't making on the spread.
I don't disagree bank stocks aren't a good investment, I think their profits are based on other products.
But I thought foreign investors make up little to no part of Toronto real estate buyers? Yet this story makes it sound like Toronto real estate is getting widespread support from foreign investors who see a haven for their money.
Toronto Real Estate shills really need to get their stories straight.
Toronto Real Estate shills really need to get their stories straight.
Another reason Toronto’s real estate market may keep defying skeptics
Good new for those who own in the Toronto market:
http://business.financialpost.com/i...-real-estate-market-may-keep-defying-skeptics
A potential replay of 1986-1988 since conditions are very similar now.
"From 1986 to 1988, nearly 60,000 Albertans, on net, left the province for greener pastures elsewhere, and almost all of them showed up in Ontario.
The province took in a net 110,000 migrants from other areas of the country over that three-year period"
http://www.theglobeandmail.com/repo...s-suddenly-large-at-cineplex/article25358928/
Luxury home sales surge in Toronto, Vancouver
“Both cities face growing domestic and international demand for top-tier housing, along with inventory shortages in prime neighbourhoods, particularly for single-family homes,”
"In Toronto, sales of homes over the $2.4-million mark rose 46 per cent, while those topping $4-million climbed by “a notable” 72 per cent.
The respective numbers for Vancouver were 52 per cent and 71 per cent."
Good new for those who own in the Toronto market:
http://business.financialpost.com/i...-real-estate-market-may-keep-defying-skeptics
A potential replay of 1986-1988 since conditions are very similar now.
"From 1986 to 1988, nearly 60,000 Albertans, on net, left the province for greener pastures elsewhere, and almost all of them showed up in Ontario.
The province took in a net 110,000 migrants from other areas of the country over that three-year period"
http://www.theglobeandmail.com/repo...s-suddenly-large-at-cineplex/article25358928/
Luxury home sales surge in Toronto, Vancouver
“Both cities face growing domestic and international demand for top-tier housing, along with inventory shortages in prime neighbourhoods, particularly for single-family homes,”
"In Toronto, sales of homes over the $2.4-million mark rose 46 per cent, while those topping $4-million climbed by “a notable” 72 per cent.
The respective numbers for Vancouver were 52 per cent and 71 per cent."
More good news for Toronto real estate.
If new condos keep being built, there is the possibility of over-saturating the market.
However, for the time being, the record inventory is being swallowed, so there is still more demand even for condos than supply. Prices for new and resale condos continue trending upward despite the record number of condo completions coming into the market.
http://globalnews.ca/news/2096204/torontos-condo-market-is-on-fire-as-sales-surge/
If new condos keep being built, there is the possibility of over-saturating the market.
However, for the time being, the record inventory is being swallowed, so there is still more demand even for condos than supply. Prices for new and resale condos continue trending upward despite the record number of condo completions coming into the market.
http://globalnews.ca/news/2096204/torontos-condo-market-is-on-fire-as-sales-surge/
An example of why real estate is still such a great deal in Toronto.
The median annual household income in Manhattan is $66,739, yet the average condo/co-op apartment in Manhattan is now $1.8 million.
Think those increasingly smaller new two bedroom condos selling for $700k in Toronto is bad? It's a steal compared to a 754-square-foot apartment that goes for $1.28 million Manhattan.
Whatever is in short supply goes up in value. Toronto is a long way away from lacking in supply of condos, but our low rise housing market is virtually a mirror image of Manhattan's high-rise market right now, bidding wars and all.
http://www.bloomberg.com/news/artic...artment-prices-reach-record-amid-bidding-wars
The median annual household income in Manhattan is $66,739, yet the average condo/co-op apartment in Manhattan is now $1.8 million.
Think those increasingly smaller new two bedroom condos selling for $700k in Toronto is bad? It's a steal compared to a 754-square-foot apartment that goes for $1.28 million Manhattan.
Whatever is in short supply goes up in value. Toronto is a long way away from lacking in supply of condos, but our low rise housing market is virtually a mirror image of Manhattan's high-rise market right now, bidding wars and all.
http://www.bloomberg.com/news/artic...artment-prices-reach-record-amid-bidding-wars
Another interest cut may be on the way! 
http://www.thestar.com/business/rea...-fire-to-toronto-vancouver-house-markets.html
“It’s another log on the fire for the Toronto and Vancouver housing markets,” says economist Sal Guatieri, vice president of BMO Economic Research, who expects to see a cut next week in an attempt to kickstart lagging growth.
http://www.thestar.com/business/rea...-fire-to-toronto-vancouver-house-markets.html
“It’s another log on the fire for the Toronto and Vancouver housing markets,” says economist Sal Guatieri, vice president of BMO Economic Research, who expects to see a cut next week in an attempt to kickstart lagging growth.
You did read this part right? Is there not an obvious need to reconcile sagging growth (and in some circles a possible recession) with a real estate market that hasn't corrected in years?Another interest cut may be on the way!
http://www.thestar.com/business/rea...-fire-to-toronto-vancouver-house-markets.html
“It’s another log on the fire for the Toronto and Vancouver housing markets,” says economist Sal Guatieri, vice president of BMO Economic Research, who expects to see a cut next week in an attempt to kickstart lagging growth.
Surely this isn't telling us anything, right?
http://www.theglobeandmail.com/glob...008-as-new-mortgages-decline/article25482492/
Watching housing prices out of context is a bad, bad idea.
http://www.theglobeandmail.com/glob...008-as-new-mortgages-decline/article25482492/
Watching housing prices out of context is a bad, bad idea.
