Tiny units with high prices and high maintenance fees in poorly managed buildings. That sums up the bulk of the Toronto condo stock.
@Blazecfc
4 ай бұрын
If they built them to rent they 100% would build the units bigger and better.
@Ajibolaa
2 ай бұрын
@@Blazecfcspot on. They know it’s built for investment so they can skim on size and ramp up the price but people have gotten to the point that they understand they don’t have that kind of silly money people were asking and getting souring Covid of all times. Plus all the downtown scams were the realtor gets his friends to bid against a legitimate bidder can’t be done anymore cause no one is willing to pay full price.
@pistolpete247
Ай бұрын
3 star hotels charging 5 star prices
@divboo6284
3 ай бұрын
I live in Midtown Yonge Eglinton. I decided to move out. My landlord’s been struggling to find a new tenant. It’s a shoebox studio condo priced $1900 ... he has until july1st to find someone new.. I think he’s struggling so bad
@iwatchwithnoads7480
Ай бұрын
He can just reduce the price if he wants a tenant
@divboo6284
Ай бұрын
@@iwatchwithnoads7480 He didn't. He has to raise rent cause condo fees went up pretty high. He is just following the market trend
@robertkennith7866
3 ай бұрын
the greed of developers has finally caught up with them, we could stop building condos for 50 years and still have a surplus, they've over saturated the market with low quality, half empty buildings noone want to live in used as investment properties, they've focused on maximizing their profit at the expense of our city paying for the infrastructure.. maybe now they can build rental housing which is what our city actually needs, not cater to the small section of society who can afford to buy property..
@stephenfermoyle4578
3 ай бұрын
The great thing about you is you present reality with clarity the new pre condos are 2 expensive for first time buyers and the numbers do not work for investors.
@tonu5393
4 ай бұрын
There is a seeming boom in the rental market (GTA and especially outside/GTA+ area) for several reasons including CMHC/MLI Select Financing - would be interesting to compare that side to see if it's having a tangible impact on pre condo construction (ie developers potentially opting for a rental project compared to condo)
@TheDavidAlexander
4 ай бұрын
I'm curious if you have any idea why condo sellers refuse to reduce their prices? Supply and demand states that if you can't get a sale at a particular price, you need to reduce the price in order to sell. Are they all just losing money because they think lower interest rates will save them?
@zeshaanali8157
4 ай бұрын
Yup, they are all using line of credits and credit cards to pay the monthly bills, it'll take a few years for their cash runs out
@keepitreato
4 ай бұрын
They think it will come back in 6 months when rates are cut. Unfortunately it will not come back ever to the way it was. I see 6 years of flat pricing
@adamz5744
4 ай бұрын
Folks there is lots of reach people that don't have to use line of credit to pay extra for mortgage paymemt or so. They're making big bucks every day. Most of people that making coments here are on base salary, can't afford to rent and waiting for crash to finally afford something. That's won't happen 😅
@PierreWong-hr9yr
4 ай бұрын
Many individuals have not had the chance to explore the world's most exciting and fast-paced cities like New York City, London, England, Hong Kong, and Japan. These cities are known for their world-class amenities, cutting-edge technologies, and diverse populations. However, owning a condo in these cities is a sign of affluence and wealth, and only a select few can afford to do so. Sadly, there are also people who value material possessions over meaningful relationships and personal growth, which can lead to a shallow and unfulfilling existence.
@kunal8520
4 ай бұрын
Its because the few who agreed to pay the higher price won’t qualify for mortgage if the seller has sold at lower price to someone else in the same building. Game of appraisal. Thats why they would rather give a ‘porsche’ and ‘goldbar’ as incentive than to lower the price
@deedee7780
4 ай бұрын
I really love the honesty! Resale condos are also down btw.
@eliasmardani1564
4 ай бұрын
someone's been busy, Precondo 3D is amazing Thanks Jordon !
@SteveKarrasch
4 ай бұрын
I'm here for the comments.
@mgdubya27
4 ай бұрын
Crash, bang, boom, amirite?
@EricAlHarb
4 ай бұрын
Not enjoying that sweet sweet 6% per annum return on investment on your capital gains? 😂
@sshah2545
2 ай бұрын
Based on your comment, I will assume you’re not an owner. Enjoying your -100% gains on paying rent every month? Do you people think before you speak?
@EricAlHarb
2 ай бұрын
@@sshah2545 housing is a depreciating asset historically returning less than the market and about 1.5% more than the risk free rate. Yeah I know what I’m talking about. Let’s discuss housing next year and see those sweet sweet returns.
@sshah2545
2 ай бұрын
@@EricAlHarb housing is absolutely a depreciating asset. Land is not. Short of banks, institutional investors, management firms or govts, with the ability to dramatically diversify their portfolios across markets and currencies, risk is always higher in the market. Calculating against an index is one thing, but very few investors buy into the index itself. The CAD is an especially trash currency. So, while you may well know what you’re talking about, most people don’t. Land, and ability to monetize land in a relatively low-risk way, throw a tenant is a very safe bet in Canada. Nobody’s seeing 6% returns right now in real estate. But balanced against greater than 10% YoY, likely to be seen again, I’d take real estate over a Canadian market investment any day. Especially in this socialist craphole of a country.
@elkahuru
4 ай бұрын
Interested to hear your take on the role of the Ontario Landlord Tenant Board in investors shying away from investing in the GTA and preferring to invest in Alberta.
@Precondo
4 ай бұрын
Great point
@jasmines.6325
4 ай бұрын
There need to be new laws for management standrds that guarantee pools and things are properly serviced, like food, random inspections and big fines
@tonycarvallo1489
4 ай бұрын
One of few who are willing to highlight the current market…honestly.
@extractwise
4 ай бұрын
I enjoy the insights you provide
@ykhov
4 ай бұрын
People laugh when the stock bubble chart were posted in 2022. We are now in Fear stage. Then Capitulation, Despair and Return to normal. Human emotions never change.
@vsoco
4 ай бұрын
So if developer costs are so sticky and profit margins already at a minimum, the only way for condo prices to go down more from here is something catastrophic like a mass bankruptcy of developers with inventory being sold at deep discounts in liquidation proceedings
@displayname7t4
4 ай бұрын
Hey love your content! I was wondering if you've ever done similar analyses for the Quebec housing market?
@mackhughson3722
3 ай бұрын
Mass layoffs in union construction jobs. Low-rise sector. Heard of a drywall company that once had 200 employees, they are now at 40 and looking to cut more.
@YTad2
3 ай бұрын
That’s okay. With all the buildings still going up, it will mean a drop in prices.
@freeflowtrader
Ай бұрын
It’s not dead enough yet. I personally don’t tend to think condo as a way of making a profit but something to suit lower income housing needs. The feasibility just isn’t in the place, sometimes maintenance fee shoot up to higher than property tax monthly amount so it’s not a good investment. But if it was 30% cheaper than before or even a bit more cheaper it’ll help some people not ending up in the streets homeless due to economical reasons, don’t forget condo also have renting units. Sometimes it isn’t about the money, it’s about too much money. Now that just has to come down to how to negotiate better deals for renters wait that’s p.m and premiers responsibility. Investors? They already lost money what do you expect from them?
@Kevriyal5654
4 ай бұрын
While listening to this video, all I could think is condos are overvalued. I think they decrease around 10-15% more across the board.
@keepitreato
4 ай бұрын
20-25 more like it
@kbenk108
4 ай бұрын
And yet builders and developers keep building them…so the numbers must somehow work, otherwise they wouldn’t build. Also I wonder why so many single family houses are being demolished and new houses are being built, instead of just being renovated. Your comments?
@oshanehall3470
3 ай бұрын
Wait till you have a major issue in the unit and learn who pays for what. Or how quick the condo board wants to put a lien on your unit for excess expenses they charge to you because it’s your units fault.
@marihutten
3 ай бұрын
Well lots of us can't afford houses on a single salary and the amount of people not getting married is larger so it's not like nobody buys condos to live in. I did not for investment but to live in and the reserve on my board is huge. People also buy with zero research.
@retrogamer82
3 ай бұрын
What about current developments who’ve gone bankrupt? The condo tower near Yonge & Bloor “The One” which is left half built they defaulted on 1.2 billion in loans
@kathrynlegear2865
3 ай бұрын
If we do not have some crazy government policy - like rent controls - the market will come back when buildings can be rented at a price that rents to cover expenses !
@CognoscereSui
3 ай бұрын
Thank you so much! This was GREAT!!
@goodcatfilms4276
3 ай бұрын
Same with Kitchener Waterloo I’d assume?
@user-by7ql5zs8u
4 ай бұрын
When prices are out of range for most people no wonder sales are lagging. Sell something that people want and affordable I bet it would be sold out instantly
@wc4109
4 ай бұрын
Justin Trudeau “we’re gonna build 3.9 million homes by 2031!” Housing industry “But HOW?? Interest rates sky high! Nobody’s buying, so we can’t build!” JT “Aahhhh, we’re gonna build 3.9 million homes by 2041!”
@mikeyb7786
3 ай бұрын
Just like he promised in 2015
@Flat10squirrel
3 ай бұрын
Tiny floor plans with all square footage for amenities. You go to the apartment to sleep. They have bar, Libraries gyms, pools etc. Units built for single millionaires.
@masonharper4610
3 ай бұрын
Maybe they could move some of these units if prices drop 50-60%.
@Michael-pg7rv
2 ай бұрын
Construction starts plummeting while immigration is surging. What a nightmare for the market.
@sshah2545
2 ай бұрын
What nightmare? Why build something that nobody can afford while paying 6% interest on the construction costs? Wait until there’s another million people here looking for a home, and no homes. The construction kings will make billions, LITERALLY overnight. What nightmare?
@mateofernando5066
4 ай бұрын
When will we see the real price crash of 40-50% of the housing market in the GTA?
@jodiekohut9443
4 ай бұрын
Is that what you want? People to lose their homes.? Loser
@RealCatch22
4 ай бұрын
Not in your lifetime.
@afzalshaikh2128
4 ай бұрын
Never
@-Nab-
4 ай бұрын
It already completely crashed in terms of gold. Problem is paper money also crashed so you don’t see it happening nominally That’s what massive money printing does
@user-by7ql5zs8u
4 ай бұрын
Never ever due the current government policies artificially inflating demand
@jasperalberts7647
3 ай бұрын
East Durham non-boutique new build over 1100/sqft…let’s watch.
@eddybigdata8794
4 ай бұрын
Very interesting video. Loving the 3d model!
@staytruefoundation3768
4 ай бұрын
Ngl the 3D map of the city would be dope art/merch to sell! I would blow up - frame and put it in my stu! 😁
@billm3210
3 ай бұрын
Developers are putting a full stop as they cant get what they want per sq ft not the costs. Also like all these are over priced sboe boxes. Take most of Air BNB and see where supply goes.
@skipj5480
3 ай бұрын
I'm sure people will buy them if the prices are reasonable
@andreirmx007
3 ай бұрын
Thanks for this video!
@jorgesebastian8338
4 ай бұрын
You're back
@ShemAhmad
4 ай бұрын
Great breakdown
@stephenfermoyle4578
4 ай бұрын
maybe if they all did not look the SAME SLIDING DOORS in a BEDROOM! HORRIBLE KITCHENS ETC ETC ETC
@f87
4 ай бұрын
Precon challenges and immigration trends should favour resale pricing and sales especially when interest rates slowly move down. Resale currently reflects rate impacts on highly leveraged investors. Price movement is plateauing. That’s it. Basic economics.
@markhunt5019
4 ай бұрын
Ok, I’ll say the potentially unpleasant. “If you had to choose between investors and immigrants, which would you choose?” I’ll even give the answer that should be deemed correct. Immigrants bring money into Canada in significant amounts and they also generally have high skill levels because of how our immigration works. Investors simply try to flip houses and when they do they cause the prices to inflate away from average Canadians. Laws control which you get: investors or immigrants or both or neither. The Five Eyes countries have allowed many more immigrants over the last 5 years, although the UK and Australia very recently are trying to pull back. The reasoning for all countries increasing immigration was to increase GDP. Flip the script and see what you get. Stop immigration. Let Condo inventory go to 15,000-20,000 and what do you think is going to happen. Interest rates will go down, and investors will come back? Who will the investors think that they are selling to? The premise that there are massive amounts of buyers on the sidelines waiting for some drop in the rates, and who are willing to buy at these “still inflated prices” is nonsense. Also, with the increasing debt loads of many of those on the sidelines, any drop in interest rates won’t stop them from merely treading water for a long time. Immigration keeps the Ponzi scheme playing more reasonably, than the investor Ponzi scheme, and ultimately there is a choice.
@markhunt5019
4 ай бұрын
Btw, the Calgary “immigration” makes the point.
@slotreality
3 ай бұрын
Condos is not investment in Ontario ever. You might even loose in the long run. Its all part of the conservative plan of Ontario.
@MichaelThoman
Ай бұрын
Jail cells?
@howy3333
4 ай бұрын
2 bed condo market not too bad. 1 bed market is stale
@mgangat
2 ай бұрын
TO is done!
@howy3333
4 ай бұрын
You also promod calgary heavily..
@grabys447
3 ай бұрын
No more CCP $ coming in Canada needs to build up its tech and oil and gas sectors and stop relying on real estate to grow its GDP
@JaBlanche
4 ай бұрын
Welp, that was depressing.
@gimusk5667
4 ай бұрын
Done!
@DrDrae81
4 ай бұрын
I warned you that U.S. stocks were a better investment than Canadian dirt. Sorry you all got rekt. 😂
@stephanecaron1
4 ай бұрын
I have 3 condos currently in Toronto. One of then used by my daughter attending university. Closing on two more within 2 years. I am living in Quebec City. All precon purchased.
@YafetZ
4 ай бұрын
ur daughter is fortunate.
@Kevriyal5654
4 ай бұрын
Only God can help you.
@stephenfermoyle4578
4 ай бұрын
you are fine...do not fall for this nonsense
@stephanecaron1
4 ай бұрын
@@Kevriyal5654 D'ont think so.
@hssu9076
4 ай бұрын
Trudeau wants civil unrest. I agree with you, "unhinged" is the perfect word re: immigration vs supply
@davidhughes6048
4 ай бұрын
What an odd comment.
@hssu9076
4 ай бұрын
@@davidhughes6048 why don't you watch the video, I'm quoting his direct comment. If you actually watched it, you'd understand.
@davidhughes6048
4 ай бұрын
@@hssu9076 I just came to see what the tin foil hat types had to say. Sir, you performed as expected. 🤣 Trudeau is clearly an anarchist. 🙄
@hssu9076
4 ай бұрын
@@davidhughes6048 ok, 1) I am a woman, 2) I'm not a conspiracy theorist, 3) my comment was neither tailored nor directed to anyone who didn't watch this video... Go away, troll... And take Trudeau and Freeland with you!
@hssu9076
4 ай бұрын
@@davidhughes6048 Let me clarify: I'm a woman, and my comment is specifically addressed to those who have watched and comprehended the video. If you haven't, disregard my comment.
@johnf321
4 ай бұрын
The biggest scam extra money on necessary things like security pools mentenence fees up to 700 to 1000 for what so builders can collect money for nonsense the banks and government should step in and tell them max 300 per month and that is plenty.
@RCLapCar
3 ай бұрын
You do realize that the builders only set the initial maintenance fees and after the first year or so the condo board elected by the condo owners takes over and can set any fees they want. Any complaints about the condo fees should go to the condo board who is elected by the owners.
@andrewsteel5271
3 ай бұрын
Prediction: the pre construction market in Canada will not have a meaningful sustained rebound for 20 years.
@daniel_foch
4 ай бұрын
Hi sir my name is Blackstone I would like to buy 1000-2000
@blackpanda7298
4 ай бұрын
😈
@alil2005
4 ай бұрын
finding deals now is the best time for this. Rent will go up with high immigration.
@MarlonYonge
4 ай бұрын
You people need to stop talk about high immigration! 97% of those people coming to Toronto are refugees and student you know the rest
@afeudale
4 ай бұрын
I'm always amazed at people who work in relevant industries but don't take the time to research *why* we are allowing so many immigrants. It's not some "liberal takeover plan", it's a necessity with an aging population and no one to pay the taxes as they get older. Any country in the same situation as us (aging population) is doing the same thing. Just get used to it (it's a good thing!) and stop this rhetoric of a different government (conservatives) changing things when it comes to immigration. They need to keep immigration high regardless of politics.
@RCLapCar
3 ай бұрын
Ok genius and in what magical housing do you propose we put these immigrants into? Also maybe we should force these immigrants to go to places that have lower housing costs. This country is giant, I'm sure other areas can easily build cheaper housing for them all. No need to try to squeeze them into the GTA anymore.
@happyslave6783
4 ай бұрын
These are not homes. These are shoeboxes nobody wants to live in for more than 6 months.
@Lifeisapartydresslikeit
4 ай бұрын
With high maintenance fees!!
@Jp1904lt
4 ай бұрын
Then maybe you should go rent one of those tents instead
@retrogamer82
3 ай бұрын
Yup man made prisons
@famicomnintendo
3 ай бұрын
@@retrogamer82 aren't all prisons man made?
@xpacjack9168
3 ай бұрын
Thats the worst part this feedback rarely gets mentioned its horrible and it is not worth the price
@tobyhowell1140
3 ай бұрын
Realtor here. I have never represented a client who actually wants to buy a small new condo and live in it themselves. In 9 years. My clients that want to live in condos buy the old units in old buildings without amenities for the square footage. Developers need to take note. Investors are not incentivized to buy these now.
@CorporateShill66
4 ай бұрын
One thing I noticed with these new condos is that almost none of them have parking anymore. Studios, 1-beds, 1+1s and even 2-beds don't include a parking spot. In a good area a parking spot will run you 100k+
@retrogamer82
3 ай бұрын
That’s bcuz you will own nothing and be happy
@as-is89
3 ай бұрын
yup insanity, the building will let a parking company come and have paid parking
@JA-mq9ti
3 ай бұрын
It is ridiculous, people can't afford homes, they have to turn to condos but they don't have enough parking...
@Ajibolaa
2 ай бұрын
@@JA-mq9tioh there’s enough parking they just lease it to a company who then turn around and bill you in you’re own building
@uboddakayala
4 ай бұрын
The last couple of years the population growth in Canada is largely driven by students and temporary workers. These individuals are unlikely to stay in condos where a one-bedroom unit rents for $2,500. Instead, many seek more affordable options, such as basement rentals in Brampton and Mississauga, which are in high demand product. However, new immigration rules are expected to slow the influx of students and temporary workers over the next couple of years.
@blackduckfarmcanada
4 ай бұрын
Slow, but not stop!
@divboo6284
3 ай бұрын
@@blackduckfarmcanadaCan’t stop. Canada needs immigration so bad..
@crumbledcereal5508
3 ай бұрын
@@divboo6284 This is a misnomer and led to extremely bad planning and the crisis we are currently seeing. Canada has typically allowed approx. 250k people per year. We’ve built our infrastructure around this. Trudeau has tripled and quadrupled (if you include students) that overnight, and has now announced 500-600K for each of 2025 and 2026!! They are not letting in only doctors, nurses or bricklayers. Use your common sense. Canada wide, we build 220-270K new housing dwellings last year. We’re getting that amount of new people in the Toronto/GTA alone! The math doesn’t work. The reasons why the hospitals and ALL other social services are in a crisis, is because of this! You let in a million people the last year, then your hospitals are going to be over burdened, leaving tax paying citizens with waiting times for surgeries over a year and a half! This does not include the undocumented, which have taken up all the homeless spaces and hotels and resulting in crime increases, and resulting in $1.3 Billion last year to house them. 90% are coming through airports, a federal responsibility. We do not need half a million people per year! We need 200,000 QUALIFIED and SKILLED immigrants per year. This Trudeau government has created all these crisis and needs to be voted out so that we can take a pause and stabilize.
@TheBlindandDeafLifeGuard
3 ай бұрын
Lol do you really think the PC party will put a end to this wage suppression? They are the architects of wage suppression. PCC is our only hope now as sad as it is to say.
@MichaelThoman
Ай бұрын
Especially the house with 25 students sleeping on mattresses in the basement of a fellow countryman.
@daniel_foch
4 ай бұрын
Fuck he’s back… there goes my subscriber growth trend
@Lj22
4 ай бұрын
Buy something he is selling in Port Rico , this way he is distracted there and we can enjoy our growth in GTa 😂
@pistolpete247
Ай бұрын
I guess you're foched lol
@jobber1984
4 ай бұрын
People will leave Canada. Simple as that.
@LisaReisRealtor
4 ай бұрын
Correction: they are leaving…in droves. I will be too…soon!
@ag-om6nr
3 ай бұрын
And this is a problem ?
@mischa1880
3 ай бұрын
@@ag-om6nrWrong people are leaving.
@ellenmorse8559
2 ай бұрын
I’m already gone! 🙋♀️
@andrewmccoll1582
4 ай бұрын
What about condos outside downtown T.O. which are not sub 700 sq ft? I never see this segment mentioned but they are a big part of the relatively livable space. P.S. Great video!
@FireASAP
2 ай бұрын
that 3D model really shows the future of Toronto... all the blue, massively over priced units purchased from the builders in the recent years... when they come due now and in the next few years... all units will sell for less. I assume those " investors" will only be able to take equity out of their primary home to close or get out of the deal. Cut the loss.... just heard from a lawyer friend of a building in Toronto... don't have the address but 2 different people, same building, units purchased for 770k.... 550 ish sq ft.... both assigned for 500k. took the loss of 270k and have to re-finance primary home.... biggest loss and will take forever to recover from these losses..... and not many talking about it.
@Blazecfc
4 ай бұрын
Can they just build units to RENT? Condos are a terrible investment and they are too small to actually live in. Just a waste for all involved.
@paul1862
3 ай бұрын
It's impossible to evict bad and non paying tenants
@professorchaos9
4 ай бұрын
Condo market looks pretty dead here in Montreal too
@displayname7t4
4 ай бұрын
"It's a little odd" haha
@mezzuna
4 ай бұрын
I work in these installing plumbing system's. Some of them are absolutely tiny inside. Rediculously small. Making USSR commie blocks look generous!
@Precondo
4 ай бұрын
The block apartments were 6-7 sq m per person You can’t even legally build close to that small in Ontario lol I know what you mean though, they get smaller every year
@TomStorey
4 ай бұрын
Welcome back.
@sazzadbhuiyan3490
4 ай бұрын
Hats off..... ❤ For your very honest forecast
@djb-w8m
Ай бұрын
what fool would have a forever mortgage ?? That's what some maintenance fees appear to be at .60 cents to more than 1.50 a foot or more depending on the area? I guess it's more expensive to maintain a building at Yonge and Eg then it is at York Mills and Don Mills? I say Cow chips! Among other important reasons why not to buy , No wonder they are crashing
@alexsmith-ob3lu
4 ай бұрын
Thanks for the this video. It should be interesting to see how things will play out in the next 6 years from now.
@shtewps
4 ай бұрын
Good to have you back
@bpd9660
2 ай бұрын
Don't buy.. prices dropping massively
@vbyssey100
2 ай бұрын
Affordability or stagnant income a factor - Prices beyond the reach of the average wage earner -
@nandanair1601
3 ай бұрын
where are all the new immigrants moving into? Serious question...
@larrycanada2100
4 ай бұрын
The market is smarter than any one puny human. Sales are down, prices are down, rents are down but population is up. The market is telling you your predictions might be very wrong. Be very careful young man. Be prepared for the very unexpected. You youngies have no experience with a market depression.
@Chibling
3 ай бұрын
Just normal depression, before conscription.
@K_mckay
3 ай бұрын
New ghettos all over Toronto now
@skeezixcodejedi
4 ай бұрын
Population is a funny thing and ofc I'm no expert; however if you look at many countries inthe world, there are very aging populations; many large countries are going to be old people with few kids, cratering their production, cratering their economies, presenting all kinds of problems, over the next 20 years; it is commonly estimated that Canada is one of the few that might have a leg up here, due to a fairly large immigration of _young people_. So, it _is_ weird on a lot of fronts nowadays, but maybe it will pay off 10 years or more from now, we'll have to see. The problems come now, but the payoff comes later is the promise. Tough to swallow when our young today are screwed for jobs, screwed for homes, but .... we shall see :/
@rajastylez
4 ай бұрын
That's a good point but they didn't have to be so extreme in the numbers. Unfortunately we will pay the cost for now.
@lorraineioannou
3 ай бұрын
You get it. If you see what’s happening scrips the world with zero population growth (people not having children) you’ll understand why immigration is critical to the economy despite the political optics. We have to fix housing to keep up though.
@galactic904
3 ай бұрын
UBI (Uni Basic Income) will subsidize 50% of the Condo Rentals by 2028. Great plan, and a great restructuring of social democratic affordable housing for people with incomes lower than $60,000
@sshah2545
2 ай бұрын
Guys, this is clickbait bullshit at its finest. This man usually makes good videos, but this isn’t true. The market is slow, it’s NOT dead. Anyone expecting a “crash” is on crack. Some people are selling, they’re broke, they don’t plan ahead. The rest? You think anyone is planning on losing $150-200K? F**k no. Wait it out. Want to own a home? Want to live downtown? Pay these slow prices now, pay higher prices when interest rates drop, or pay MUCH MUCH higher prices when interest rates drop and the rental market reaches saturation. Immigration is a huge cause of what’s happening here, but it’s not the only. When the money runs dry, people flock to the big city. Real countries. Real, international countries have many big cities. Canada has 1. Vancouver is a retirement village. Montreal is French, and therefore awful. Toronto is the only big, high-wealth city in the country. Want to make some real money to survive this brutal economy? Come to TO. I have friends country wide who know how TERRIBLE a city Toronto is, but they’re considering and now planning to move here. Don’t believe everything you see online. Nobody’s giving up their property so you can have it for a steal. Buy ASAP. That is always the answer. Buy as soon as the intersection of income, opportunity, and financing makes sense. Real estate is a long term store of wealth, whether or not whiny socialists like it.
@propheteyebert7063
Ай бұрын
Owners bleed $300-$800 per month to hold on to a condo. Many cannot afford it, especially if they lose their job.
@radiogaga123
4 ай бұрын
great content
@Mckenzieharrs
3 ай бұрын
The central bank raised interest rates 10 times between March, 2022 and July, 2023, bringing its benchmark rate to 5 per cent from 0.25 per cent in one of the most aggressive monetary policy tightening campaigns on record. It has held the policy rate steady at 5 per cent over the past six rate decisions. Condo prices have not declined in a way consistent with these increases. Could that be why new condo sales are so low. Should owners be reducing prices to sell?
@adk4419
3 ай бұрын
If the condo market is so bad why all these new buildings planning to be built? 9 building alone are going to be built in the Cloverdale mall area. I can’t see them all being sold. This is not including new buildings planning to be built along dundas from Islington to 427. Time to move to cottage life😊
@Disgruntled_Canadian
3 ай бұрын
4:10 if anyone hasn’t realized yet that Trudildeau did this intentionally then I don’t know how to help you. Don’t worry, I’m sure BlackRock will swoop in and buy them to rent back to the public.
@monkeycheeks101
3 ай бұрын
Once interest rates goes up and these landlords can't afford their mortgages, I presume many will be forced to sell art low prices, opening up the rental market and reducing rent. Toronto has has artificially high prices since Ford ruined affordable housing. I hope all these greedy landlords file bankruptcy , after they banked on price gouging the working class. No one if going to pay more for these dumpy condos. People don't even want to pay the current market rates. Housing shouldn't be an investment, it's a basic need. Go invest in real technology or something else besides hoarding vital resources and inflating the price.
@CityEstates
4 ай бұрын
economy class to Calgary, let's go!
@John577
3 ай бұрын
Housing has been stagnant during massive inflation. It's already crashing by 20-30%.
@eric2005
4 ай бұрын
Great video! Missed you. The investors going to Calgary aren’t necessarily Toronto locals, flight difference doesn’t matter.
@amansjourneys2
4 ай бұрын
in your opinion, is this a good time to invest in the toronto condo market or is it better to wait since there is such a bear market going on?
@Metryingatlife
3 ай бұрын
Ali express money pits. Ford’s legacy for cutting the red tape to build.
@howy3333
4 ай бұрын
However preconstruction has also had very little supply..
@bruce7773
3 ай бұрын
How about Vancouver
@rebel8711
3 ай бұрын
Canadas population growth compared to toronto retail market... Shouldnt we be comparing toronto population growth? If the majority of people are moving to another province that would effect demand
@jordonscrinko7112
3 ай бұрын
GTA grew by 233K people after accounting for outflows from July22 to July23, making it (still) the fastest growing area in Canada by population
@bryankerr9174
4 ай бұрын
More and more renters need to share a place. Dog-crate condos are too opulent for Canada's renters.
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