Avg Toronto home down over $54 000 in October. Should be interesting to see what the month over month number is for November?!?! Another month like that and most recent buyers wipe out all their equity. Ouch! It's real nice until it turns. Then it gets real ugly fast.
real estate..... is it true??
- Thread starter parisbeautiful222
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Where are you getting your information from? October was a record setting month as is November.Avg Toronto home down over $54 000 in October. Should be interesting to see what the month over month number is for November?!?! Another month like that and most recent buyers wipe out all their equity. Ouch! It's real nice until it turns. Then it gets real ugly fast.
The average home in the Toronto area cost $776,684 in November, up from $632,774 the same month last year, and $4,159 more than the average selling price this October.
I wouldn't trust TREB when it comes to housing affordability. If house prices did fall it would be in the best interest of the boards to hide it for as long as possible like they are doing in BC.
Bloomberg article says 2016 is peak housing for Canada after comparing commissions data with data preceding 2008 housing crash. Basically commissions have peaked and historically 3 years afterwards housing crashes. Believable?
https://www.bloomberg.com/news/arti...16-may-be-the-year-of-peak-housing-for-canada
Bloomberg article says 2016 is peak housing for Canada after comparing commissions data with data preceding 2008 housing crash. Basically commissions have peaked and historically 3 years afterwards housing crashes. Believable?
https://www.bloomberg.com/news/arti...16-may-be-the-year-of-peak-housing-for-canada
Why is it that same source quotes month over month in Vancouver but then conveniently jumps to yearly data for Toronto. LOL. Very convenient! TReB numbers show $55000 drop in October from September. Those CMHC rule changes are very powerful. Takes away a large number of buyers on the bottom rung. In turn breaks the entire chain. I guess I still could be wrong. Time will tell, but I did say previously those rule changes are probably the end of this great run.Where are you getting your information from? October was a record setting month as is November.
The average home in the Toronto area cost $776,684 in November, up from $632,774 the same month last year, and $4,159 more than the average selling price this October.
Housing has been stagnant or declining in almost all markets in Canada except for Vancouver and Toronto. Vancouver is now correcting that foriegn investment has dried up. But Toronto appears unscathed. Supply at record lows and demand very strong. Condo absorption rates very high. No evidence of significant speculation and foreign investment in Toronto like there was in VanCity. Looks like prices wil continue increasing in Toronto in 2017.
Probably a lot of help from mom and dad fueling the Toronto market like in these stories (lucky bastards): http://torontolife.com/city/life/the-bank-of-mom-and-dad/
Probably a lot of help from mom and dad fueling the Toronto market like in these stories (lucky bastards): http://torontolife.com/city/life/the-bank-of-mom-and-dad/
^^^
I agree that the whole bank of mom and dad strategy is a house of cards.
In related news: "Toronto's Middle Class Is About To Be Priced Out Of The Condo Market"
http://www.huffingtonpost.ca/2016/12/03/condo-prices-toronto_n_13395896.html
I agree that the whole bank of mom and dad strategy is a house of cards.
In related news: "Toronto's Middle Class Is About To Be Priced Out Of The Condo Market"
http://www.huffingtonpost.ca/2016/12/03/condo-prices-toronto_n_13395896.html
^^^
I agree that the whole bank of mom and dad strategy is a house of cards.
In related news: "Toronto's Middle Class Is About To Be Priced Out Of The Condo Market"
http://www.huffingtonpost.ca/2016/12/03/condo-prices-toronto_n_13395896.html
this enables people to never be fully responsible and self sufficient for their own lives. moral of the story, shit costs money. plan ahead and dont rely on other for your own short comings. sometimes you have to do without till you can afford to have what you want.
Chinese investors shifting to Seattle and Toronto
http://www.theglobeandmail.com/news...se-buyers-to-seattle-toronto/article33211473/
Those who want to buy a home might soon be competing with Chinese investors who can buy three multi-million dollar homes with a cashiers checks.
http://www.theglobeandmail.com/news...se-buyers-to-seattle-toronto/article33211473/
Those who want to buy a home might soon be competing with Chinese investors who can buy three multi-million dollar homes with a cashiers checks.
As hot as Toronto is, I think a slowdown in price acceleration is inevitable next year. Can you imagine if by November 2017, detached home prices in Toronto went up another 30%, just like they did from November 2015 - November 2016? This would make the average detached home in Toronto worth over $1,700,000!
If that happens, I'm going to sell all my properties and retire somewhere warm where costs are a fraction what they are here. Seriously. Wouldn't stick around for the crash that follows.
If that happens, I'm going to sell all my properties and retire somewhere warm where costs are a fraction what they are here. Seriously. Wouldn't stick around for the crash that follows.
Hullo everybody,
Its 2017 and finally it looks like a correction has started in BC:
https://betterdwelling.com/city/vancouver/43-homeowners-list-broadway/
The free market is a wonderful thing.
Its 2017 and finally it looks like a correction has started in BC:
https://betterdwelling.com/city/vancouver/43-homeowners-list-broadway/
The free market is a wonderful thing.
Holy moly even condo sales are going down in Van
https://betterdwelling.com/city/vancouver/vancouver-condos-sales-decrease-23-7-in-december/
https://betterdwelling.com/city/vancouver/vancouver-condos-sales-decrease-23-7-in-december/
GTA Detached Home Prices Up 28% in January
http://www.movesmartly.com/2017/02/...up-over-40-in-hottest-gta-municipalities.html
Look at some of the gains in some of the cities listed. Aurora up 55%
I agree with the article that these GTA price increases are unsustainable.
http://www.movesmartly.com/2017/02/...up-over-40-in-hottest-gta-municipalities.html
Look at some of the gains in some of the cities listed. Aurora up 55%
I agree with the article that these GTA price increases are unsustainable.
Saw an article in the G and M.
A house in Greektown went for over a million. It was on a 20 ft by 78 ft lot. A 1920's built bungalow and advertised as a teardown.
A house in Greektown went for over a million. It was on a 20 ft by 78 ft lot. A 1920's built bungalow and advertised as a teardown.
YAAAAA!!! beautiful....I am looking to sell this yearSaw an article in the G and M.
A house in Greektown went for over a million. It was on a 20 ft by 78 ft lot. A 1920's built bungalow and advertised as a teardown.
