The truth of the matter is that the RE has become the main investment vehicle for a good portion of the population and money is cheap and under inflationary pressure. The only way to deal with the runaway prices is to raise the interest rates and/or drastically increase inventory.
Housing and Condos are going to crash
- Thread starter thadude
- Start date
You are not wrong... I would add curbing immigration would ease demand, but that's not going to happen.
Where are we gonna put them all? In the next 25 years the entire golden horseshoe will be a single megacity. there is lots of room
There may be some additional land being squeezed but the golden horseshow, depending on where you want to draw the line , is now mostly greenbelt. Most of Durham, York , Peel , Halton and Hamilton are green zones . ( That will have to change and construction approvals given much faster if we want to keep up ) Trudeau put his 25,000 Syrian Refugees in hotels. If we had ample supply we wouldn't have 50 competing bids per house and insane prices.
Growth in rural Ontario at odds with Places to Grow plan | ontario construction report
ontarioconstructionreport.com
At the time he said he will issue annual reports on how they are doing. Has anyone seen these reports?
It's not the number of people, it's where they settle. Ontario is a huge piece of territory, but our infrastructure makes it impractical for people to settle outside of the GTA. Successive governments and other "visionaries " are dreaming about the high speed rail corridor to Montreal. In reality we need a high speed (real high speed) corridor between Windsor- Toronto and Sudbury-Toronto. The North is EMPTY;how about a special economic zone for Sudbury and North Bay? It is within our power to offer immigrants, especially families, a shortcut to Canada if they commit themselves to settle outside of the GTA for 5 years(before they qualify for citizenship). We can easily offer tax incentives and legislative support for businesses to operate away from the GTA to offset the costs of logistics. But, that would require decades long commitments and our planning is measured in 4 year intervals.
Condos have always been a scam imo. I've always seen it as a empty scheme to get people back into the city. I'm glad some people are starting to understand having a Starbucks within walking distance isn't a win in life.
The scam is property tax revenue and maximizing land use. I have no problems with condos. I have a problem with shoe boxes.
Yes but billionaire investors can buy up units faster than developers can build them. And when I say units, it's not just condo units or apartment complexes any more. It's detached homes - https://dailyhive.com/vancouver/developer-single-family-homes-rentals-canada-1-billion
The 'financialization' of housing is now here. A whole new ball game is under way.
Articles like this may start popping up in Canada too.
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I don't know about anyone wanting to come to canada not sure about the rest of the country but ontario sucks! Pay about 60 percent in taxes your nickel and dimed (everyone out to rob you) to death cost of living is horrendous weather sucks public transportation sucks and to top it off we're under a dictatorship thats got us locked down like rabid dogs and robbing the tax payers blind.
I would much rather live in the United States or other countries before ever coming here.
I would much rather live in the United States or other countries before ever coming here.
Then kindly piss off and move to 'Murica. Just don't come crawling back here when the US medical system bankrupts you.
Hamilton is going to be the place to live in the near future. Most people are getting priced out of T.O.
People are now starting to get priced out of Hamilton too.
If a company plans to invest a billion dollars over the next 5 years, there is low chance of this happening
https://globalnews.ca/news/7950579/developer-buy-1-billion-homes-canada-housing-market/
https://globalnews.ca/news/7950579/developer-buy-1-billion-homes-canada-housing-market/
The problem is lack of supply. Canada's population grew twice as much as new housing over the past 5 years. And Canada is a very desirable place to live which makes our "product" attractive. Relatively good social services, tolerance, lower crime and taxes than the US and Europe (I'm including private health costs in US taxes since health is what so much of our taxes pay for), good job prospects and schools, beautiful environment with low extreme weather problems. There was a Forbes article years ago surveying the vulnerability of major cities around the world to environmental harm (rising waters being a big one for so many cities) in the next 50 years and the article's conclusion was to buy Toronto real estate due to the looming environmental refugee crisis because we have almost no risks (earthquakes, floods, drought) while higher temperatures will make it more pleasant.
In Toronto especially we need to mandate more family size condos since the open land is long gone. Yet you can still walk down most of Bloor/Danforth without seeing a building over 2 stories even though the subway runs under it. Perhaps work from home will spur more development outside of the Toronto area as well.
In Toronto especially we need to mandate more family size condos since the open land is long gone. Yet you can still walk down most of Bloor/Danforth without seeing a building over 2 stories even though the subway runs under it. Perhaps work from home will spur more development outside of the Toronto area as well.
The whole city of toronto is a scam. The city isn't designed to hold this many people, but they need people to keep the system afloat.
From my observations, condo owners are usually more in love with living in the city than actually living in a condo.
so you think given the choice between their condo and Drake mansion they would choose the mansion?
