Toronto Escorts

Have Toronto housing prices peaked?

fictionfactor

Active member
Feb 18, 2013
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105
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Funny reading all those comments above eg would take a Nuclear war for the prices to come down. In the GTA the drops are already here . Some examples Brampton Listed home end Feb 2.7M finally sells this month for 1.8M, Halton Hills Listed a few months back for 2.6M sells for 1.9M. I think we still have a ways to go. Hopefully the BOC stops raising the rates which I feel would stabilize the market
 

poker

Everyone's hero's, tell everyone's lies.
Jun 1, 2006
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We may go into, or come close to a recession. That should cause a temporary slow down in the market. But the pure greed, and the number of investors and speculators out there, it will bounce back. And once it does, and growth with be issued as justification for sending prices further into the stratosphere.

When the crash does happen, a lot of investors are going to be wiped out.
 

Anbarandy

Bitter House****
Apr 27, 2006
10,088
2,733
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We may go into, or come close to a recession. That should cause a temporary slow down in the market. But the pure greed, and the number of investors and speculators out there, it will bounce back. And once it does, and growth with be issued as justification for sending prices further into the stratosphere.

When the crash does happen, a lot of investors are going to be wiped out.
We need to tax and tax and tax the fuck out of the investors and speculators, mom and pop speculators too.

We need to implement special investor and speculator operations that mandate that they MUST finance, not 'pay in cash', 100% of their purchases at a 20% special mortgage rate over a 30 year term.

We nee to eviscerate this 'mine, mine, mine, all mine' mindset that housing is nothing, nothing at all, but a financial asset.
 

poker

Everyone's hero's, tell everyone's lies.
Jun 1, 2006
7,746
6,009
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Niagara
We need to tax and tax and tax the fuck out of the investors and speculators, mom and pop speculators too.

We need to implement special investor and speculator operations that mandate that they MUST finance, not 'pay in cash', 100% of their purchases at a 20% special mortgage rate over a 30 year term.

We nee to eviscerate this 'mine, mine, mine, all mine' mindset that housing is nothing, nothing at all, but a financial asset.
I’m not sure is that was sarcasm.
 

Anbarandy

Bitter House****
Apr 27, 2006
10,088
2,733
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I’m not sure is that was sarcasm.
Not a joke, but over the top on the taxing and financing points in order to stress the point that whatever bullshit keeps being spewed by the property, real estate and investor/mom and pop investor sectors about their reasons for residential prices being so high, that the real reason is that 'housing' is now nothing, nothing at all but another investment class or asset.

This wasn't the case pre-great recession.

Who the hell bought a home to live in 15, 25, 40, 50 years ago because it was a great way to "make money"?
 

poker

Everyone's hero's, tell everyone's lies.
Jun 1, 2006
7,746
6,009
113
Niagara
Not a joke, but over the top on the taxing and financing points in order to stress the point that whatever bullshit keeps being spewed by the property, real estate and investor/mom and pop investor sectors about their reasons for residential prices being so high, that the real reason is that 'housing' is now nothing, nothing at all but another investment class or asset.

This wasn't the case pre-great recession.

Who the hell bought a home to live in 15, 25, 40, 50 years ago because it was a great way to "make money"?
thank you. You articulate shit better than me. I appreciate that.
 

artificer

New member
Nov 15, 2021
21
13
3
I do hope it falls. Been paying student loans for 5 or so years. Thanfully the interest rates dropped in 2020.

In today's day and age, most people can't even afford homes
 

poker

Everyone's hero's, tell everyone's lies.
Jun 1, 2006
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Niagara
The Humanity Project:

According to StatsCanada, the average household income in Canada is 66K. The average income of a single person household is 34K.

The average price of a home in Canada is now 816K, an almost 100% increase in 6 years.

Real estate is now part of Canada's top three "industries", along with oil and gas, and mining.

Think you can buy a home if you just pull yourself up by your bootstraps?

If you use the CMHC "housing affordability" calculator for a 66K household with a 50K down payment and $1100/month non-housing related expenses, it says that household can afford a $292K house.

According to the housing affordability calculator, a household would need to earn 134K, have 100k downpayment, and no more than $1100/month in non-house related expenses to afford a $816K home.

According to StatsCanada, only 10% of Canadian households earn over 100K per year. That means that 90% of Canadians cannot afford an average Canadian home. Those without family wealth or access to wealthy co-signers have very limited options. Rent is also going up faster than income.

Stats were all taken from the public StatsCan website, the CREA website with mortgage estimates from the CMHC website.
Credit: Rhoneil Marie
#Housing #Rent #AffordableHousing #Families #WorkingPoor #CostOfLiving #Canada
 

angrymime666

Well-known member
May 8, 2008
972
536
93
the problem is people dont want to live in areas that have affordable housing. for example you can buy a brick bungalow in north bc and not the main cities for under 200k. you can buy a fixer upper out east for under 100 and a nice house for under 200k.

people want to live in popular areas and those areas have limited houses for sale and an over supply of people wanting to buy them.
 

fall

Well-known member
Dec 9, 2010
2,745
680
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We may go into, or come close to a recession. That should cause a temporary slow down in the market. But the pure greed, and the number of investors and speculators out there, it will bounce back. And once it does, and growth with be issued as justification for sending prices further into the stratosphere.

When the crash does happen, a lot of investors are going to be wiped out.
Going into recession (i.e., unemployment and low inflation) would be the best-case scenario. Unfortunately, we are aiming for the stagflation.
 

Spunky1

Well-known member
Feb 25, 2019
983
836
93
According to StatsCanada, only 10% of Canadian households earn over 100K per year. That means that 90% of Canadians cannot afford an average Canadian home. Those without family wealth or access to wealthy co-signers have very limited options. Rent is also going up faster than income.
Is that 100k gross or net? Buddy told me he made over 100 grand one year and around 40 went to Taxes. Took home 60 something. Sad
 
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