Housing Market GTA
- Thread starter catchall
- Start date
exactly why i posted that other thread here.
I don't know anyone, ANYONE buying a house right now except for a few investors in select areas or circumstances.
however, I have an employee of mine looking for a house. she makes $80k/yr, her hubby $74k, and they are having a hard time finding something both desirable and affordable.
I don't know anyone, ANYONE buying a house right now except for a few investors in select areas or circumstances.
however, I have an employee of mine looking for a house. she makes $80k/yr, her hubby $74k, and they are having a hard time finding something both desirable and affordable.
I have been searching, but I am unhappy with the quality vs. location vs. price range at this time. Granted, I am looking in the 905, but either the houses have a postage stamp sized lot, they are a handyman special, or they are in the middle-of-butt-fuck-nowhere. At least the ones in my price range, meaning <$400,000.
This is a shitty time to buy in my opinion.
This is a shitty time to buy in my opinion.
the condo market is again saturating , seems some people never learn. Houseing in the 905 is available depending on your needs. A mid 400k house is available but the house might not meet your needs for a home. I would expect a small" correction" sometime late summer. The inventory is staying on the market longer and the agents are listing at all time high prices to get the listings. Something has to change, the only thing supporting this market has been the mortgage rates. If that changes upwards all bets are off.
Condos are different the free-standing home market, and should not be compared. Condos are expected to do well for a few reasons. First, many are downtown and there is a return to and excitement with downtown living. Second, you can get a very decent condo for around $350,000 - like over 1,000 square feet. By decent, I mean in a good area of Toronto, and something that is is designed somewhat well. Condos may be small, but if people want to live in Toronto at an affordable price in a good area of the city with ammenities, the condo market has the house market beat. Also, as gas prices move upwards, more people want to be close to the city in an affordable way.Sukdeep said:Condos seem to be a real problem. Supply is high (and increasing), yet sellers still seem to be in la-la land asking for exhorbitant prices. The funny thing is, look at the listing pictures. Many are of vacant units. If they don't rent, they have to sell....
Now, if prices start falling in the housing market, we'll see how long the condo market can sustain itself, but I think the high prices are totally justified. However, I wouldn't invest in one. Seasoned investors I know call condo economics "voodoo economics".
Housing market in many areas of the city is still strong, even with dreaded double hit of the new Toronto "MILLER" transfer tax, homes in good pockets are still selling for top dollar. Vaughan, Richmond Hill, New Market all still going strong.
The homes sitting on the market is usually because of unrealistic home owners trying to cash in with unrealistic selling prices.
Low interest rates is what is still driving the market, even with the gloom and doom of the media. Having said this, a bubble can burst very quickly as we know from the past.
The homes sitting on the market is usually because of unrealistic home owners trying to cash in with unrealistic selling prices.
Low interest rates is what is still driving the market, even with the gloom and doom of the media. Having said this, a bubble can burst very quickly as we know from the past.
rayden said:Housing market in many areas of the city is still strong, even with dreaded double hit of the new Toronto "MILLER" transfer tax, homes in good pockets are still selling for top dollar. Vaughan, Richmond Hill, New Market all still going strong.
The homes sitting on the market is usually because of unrealistic home owners trying to cash in with unrealistic selling prices.
Low interest rates is what is still driving the market, even with the gloom and doom of the media. Having said this, a bubble can burst very quickly as we know from the past.
And it will burst.
You may be right, escalating gas prices will have an negative affect on our economy, so I do tend lean towards a bursting bubble. Although I don't think it will be this coming summer.catchall said:And it will burst.
Damn it stop buying gas from Esso, sorry for possibly hi-jacking this thread, but gas prices drive me NUTS! Force Esso, which I believe has some ties to Exxon, feel the pinch and have to compete by lower prices. I KNOW I may be dreaming.
