real estate..... is it true??

[angrymime666]

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.

 

[Mishman527]

Toronto Average Prices 1980 to 2013 as per Toronto Real Estate Board

Thanks that was informative!

 

[Smallcock]

Good summary of the market:
http://www.century21.ca/scott.ingram/blog/2019_Toronto_Real_Estate_predictions

 

[Smallcock]

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.

 

[wonkyknee]

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

 

[HOLLYWOODG]

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.

 

[wonkyknee]

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.

 

[Smallcock]

Last night I spoke to a 20 year old stripper who said that she recently bought a condo at parklawn and lakeshore.

I have no idea what's going on anymore. I had predicted a bigger correction than what we saw in the second half of 2017.

Brad Lamb recently said that 60%-70% of new condos are being sold to investors. A few years ago that number was 50% and seemed really high. I keep thinking this isn't going to end well, yet the market keeps humming along. Major markets around the world are feeling a squeeze from NYC to London to Sydney yet Toronto has remained unfazed.

 

[Larry G]

I did buy and sell many homes and did good for myself, but you really have to know the market. Watch the area, and other homes near by. But after buying and selling a few, I am now sick of moving and renovating. That was in my younger days. Now I am in my forever home. But yes you can make good money.

 

[superstar_88]

Is it true that the property in average will loose 10 to 30% in value in the next few year in canada? Appenrently the property are 30% overvalued... Im looking to invest in real-estate, i just don't know when and what!!! I've been reading a lot about it but everyone says the opposite! What do you guys think about it? especially toronto market i'm talking about.

Well, you know the answer to that now.

 

[Smallcock]

Record December: http://www.trebhome.com/files/news_releases/news2020/nr_market_watch_1219.pdf

 

[malata]

i see price of homes going up 50% this decade due to shortages in the 6

 

[Bigdaug]

i see price of homes going up 50% this decade due to shortages in the 6

Who's going to be able to afford that though! Wages have been pretty much stagnant for decades now!

 

[Ladarrl]

Hi guys, I have a question. Do any of you have real estate abroad? If so, where? If not, where would you like to buy it in the future? I'm interested in real estate in the Emirates, I'm going to buy an apartment there, I liked a few options here https://korter.ae, but I need to collect a little more money

 

[Smallcock]

Looks like this spring will see insane 2017 prices again.

 

[Goodoer]

The historically cyclic housing cycle is off the rails... Tough for anyone to predict. People with property (on-paper wealth) want more and will leverage to get more.

What I don't get is the size of the homes... Tiny condos in Toronto (and even the 'burbs) and large homes outside of Toronto. I understand the builders build what will make money, but the cities have to do something to curb silly development.

The Big Builders/Developers already own the land and completely control all aspects of the market. They can pause developments, then cancel contracts in order to charge more... They are politically connected so there is no pressure to change.

 

[Bigdaug]

Anyone think this stock market collapse will effect the housing market?

 

[smuddan]

I started looking for a 1 bedroom condo in the Bay Street corridor for my daughter and found out that the market has skyrocketed within the past few weeks. Some units have been sold for $50-80,000 more than a comparable unit sold for just in January.

 

[TOraps23]

The historically cyclic housing cycle is off the rails... Tough for anyone to predict. People with property (on-paper wealth) want more and will leverage to get more.



The Big Builders/Developers already own the land and completely control all aspects of the market. They can pause developments, then cancel contracts in order to charge more... They are politically connected so there is no pressure to change.

This is true and this is why our market is so fucked up

 

[Smallcock]

The average condo price in the City of Toronto is now a record $722k!