Prices seem to have bottomed out but there are more properties coming on the market than being sold so ????
Is the housing bubble about to burst
- Thread starter K Douglas
- Start date
New construction, condos and housing, stopped being built about a year ago due to falling prices. New inventory should continue to hit the market until the end 2028 or so, it takes 2-3 years to finish up the already started projects.
I would wait until the end of 2027 before looking seriously.
I would wait until the end of 2027 before looking seriously.
Eventually, the influx of new buyers will put pressure on the housing market as current over supply dries up. However, it will be awhile before that happens. I’d say 2026 / 2027 is a good time to get in as you’ll be buying at a low.
Carney will bail them out also. Socialism for the rich and Capitalism for the working class.
If it is for living then err on the side of being a bit early, I think mid 2027 is fine, 2026 is just way too early IMHO.
If it is for investing, then I would wait until something big is about to happen or has happened; interest rates take off, Carney is opening the immigration doors, etc...
If you buy right now and offer a fair market price, the seller's head might still be in 2022/2023 and not accept a reasonable bid. Sellers need to be tenderized a bit more by falling prices before they become reasonable.
Has the market bottomed out? Almost bottomed out? How much more to go? All speculation. We won't know until after the fact.
If the choice is between investing in US realty vs GTA then consider the following:
USD:CAD $1 gets you $1.40. Interest rates US Fed vs BoC: 2pts. Mortgage Interest rates probably double that. Will these last until prices hit bottom? Who knows.
Demographics, economic activity etc that attracts people to the GTA.
Taxation: Only you/your accountant can assess that.
More like Communism for the working class. Everywhere I go now in the GTA all I see are signs for proposals to build more sky rises. Scratching my head wondering who is gonna buy these or live in them.
That was one of Justin Trudeau's master plan. That is one of the reasons he wanted mass immigration. He wanted densification then gentrification. Countries like China has many vertical cities, high tall skyscrapers with overpriced condos. Each person will be a money making machine for the government and corporations.
China is knocking down many of those condo towers because people didn't buy them. I'd like to see what happens down the road with all the overpriced concrete shoe boxes across the GTA.
In Canada Carney bails out condo developers and sends the bill to taxpayers instead of knocking them down or letting them sell at a loss.
Bad idea if you are a non-resident. Many non-resident rules that adversely affect you and cut into your rental income and capital gains. Also, Ontario landlords are beset by rent control, high property taxes and rip-off utilities costs. Also, profane vacancy penalties and taxes imposed by the Federal Liberals under Trudeau and continuing under Mr Carpetbagger Carney.
