Where the fuck are you getting your numbers from??If 5% are foreign investors and 95% are regular Canadians then how is the 5% getting the blame for what's going on?
Where the fuck are you getting your numbers from??If 5% are foreign investors and 95% are regular Canadians then how is the 5% getting the blame for what's going on?
Land is protected as parkland and leased for about 75 more years in a sweetheart deal .I can see Toronto Island opening up for condo development plus perhaps a connecting bridge built. Island residents will fight tooth and nail but the real estate land there is just too valuable to pass up
Wow, I never heard of that!Land is protected as parkland and leased for about 75 more years in a sweetheart deal .
It will not be developed
But what about Cherry Beach and Tommy Thompson Park?? Also both leased out??Land is protected as parkland and leased for about 75 more years in a sweetheart deal .
It will not be developed
I read articles from various news sources, then average it out.Where the fuck are you getting your numbers from??
Okey dokey, maybe you're smarter then me thenI read articles from various news sources, then average it out.
Google is your friend
Foreign buyers are not the problem here.the govt intervention can and will be circumvented as well, this takes a while to set up all the mechanisms to do this. So at some point foreign buyers will be back.
Interesting analysis using several years of data: http://torontorealtyblog.com/archives/20057Prices are down year-over-year for detached homes: http://business.financialpost.com/r...ices-fall-amid-growing-pool-of-homes-for-sale
I hope there is a crash next year. Opportunities like it come but once or twice in a lifetime. The last time it happened in the 90s... if you picked up a house in 1996 when house prices had tanked to their lowest level from the high of the late 80s, you were golden. My generation has never had such an opportunity and I hope it's around the corner.
Nope. And detached doubled to tripled in the time since.So Toronto did not follow the US bubble of 05-06 and burst in 07-08?
Hind sight is always 20/20. If you picked up a bitcoin for $1 in 2013, it would be worth $20000 now.Prices are down year-over-year for detached homes: http://business.financialpost.com/r...ices-fall-amid-growing-pool-of-homes-for-sale
I hope there is a crash next year. Opportunities like it come but once or twice in a lifetime. The last time it happened in the 90s... if you picked up a house in 1996 when house prices had tanked to their lowest level from the high of the late 80s, you were golden. My generation has never had such an opportunity and I hope it's around the corner.
That article was ad-supported buy your local real estate agents :biggrin1:So much for that foreign buyer fear mongering
https://www.cp24.com/news/non-resid...idential-property-owners-in-toronto-1.3727639
According to this article, demands and investment-speculation from domestic residents are the sources of real estate's price hike.So much for that foreign buyer fear mongering
https://www.cp24.com/news/non-resid...idential-property-owners-in-toronto-1.3727639
Define domestic residents. I'm betting several ownership are under incorporated holding companies. And the sole shareholder is offshore with a Canadian lawyer to front.According to this article, demands and investment-speculation from domestic residents are the sources of real estate's price hike.
I personally know someone who has rented at least 5 apartments / condos in Toronto and has profited from conversion of long term rental properties to Air BnB rentals. That is probably the main reason why rents are so high in Toronto.
It's a sad thing in this society because it's all about "greed".
Its not just about greed. If you rent long term you completely lose control of your property, the tenancy act is pretty absurd. Why should someone invest 500K and lose complete control of the property for a lousy 2K/month in rent? Why can't you write a lease that has a start and end date that both parties can agree to? Its all pretty ludicrous. If the govt wants to impose these terms on landlords it should subsidize them and provide other financial incentives.According to this article, demands and investment-speculation from domestic residents are the sources of real estate's price hike.
I personally know someone who has rented at least 5 apartments / condos in Toronto and has profited from conversion of long term rental properties to Air BnB rentals. That is probably the main reason why rents are so high in Toronto.
It's a sad thing in this society because it's all about "greed".
The person whom I know hasn't actually bought a condo for 500k or more. What he has done is to sign a long-term lease with a landlord pretending that he wanted to live in those 5 or more apartments or condos. Instead, if the apartments are not fully furnished, then he furnished them by picking things up from the garbages where people threw things away such as mattresses, couches, coffee makers and whatever he can find for free. Then he has listed in the Air BnB those 5+ apartments / condos which he has rented as a "long-term" from the real landlords.Its not just about greed. If you rent long term you completely lose control of your property, the tenancy act is pretty absurd. Why should someone invest 500K and lose complete control of the property for a lousy 2K/month in rent? Why can't you write a lease that has a start and end date that both parties can agree to? Its all pretty ludicrous. If the govt wants to impose these terms on landlords it should subsidize them and provide other financial incentives.