Just because people are transacting more, doesn't mean that prices will follow. Clearly, there is a massive oversupply of condos. Immigration growth has been cut, and this will also negatively impact this segment. I think flat to down is still the trend.
condo prices have barely moved for the last 2.5 years, even with everyone and their dog bashing them...... meanwhile declining rates will flip most owners back into cashflow positive. While it will take a while for the effects of rate cuts to be felt, by spring/summer next year the peak of new supply will be done and over with and on the downward slide to nothing. Prices are more likely to be going back up to peak around 800k on average than down by the summer.
@@GreenBeanGreenBean prices have fallen. It's a fact. Some segments are down between 50-20% from peak. It really depends where you look. Downtown was hit hardest. Rates are also not going down as quickly as most anticipated. Bleed will continue.
@@Prediculous hard to be as wrong as you are. The only parts of the market down 20% from peak were the ones that went up 200%, you always forget that part. Downtown was hit the least, it is the area that prices are holding up the best. The areas hit hardest are the fringe areas 2 plus hours away that bid housing up to 2m each... that is the only area down 20% because there still ain't no buyers that wanna commute 2 hours. Rates are down fast and will continue to go down fast, BoC went from 5 percent down to 3.75 percent.... and will be going down to 2.5 percent. In case you didn't notice, the toronto condo cashflow index chart already shows most (new) investors back into positive cashflow.... entirely because of falling rates because rents are down a small bit.
@@GreenBeanGreenBean I'm not talking about residential single homes. I'm strictly talking about condos. The only sales that have happened were the ones that were marked down.
here we go!!! more talk....Your Condo listings always look great..because you get great properties, unique and your styling is flawless...the ''elephant in the room'' is..... 1 They all look the same, with bad finishes and to many ''same kitchen'' ''same tile same floor '' with the plastic bedroom door on tracks. does not cost that much more to switch it up ....2 they have been treated LIKE a ''STOCK OPTION'' rather than a HOME.3 Nothing is ever good enough? 4 investors/ flippers...well not much to say about that..cause we all know were that has taken the Market. People all over the world live in Apts/ Condos...in Chicago the Condos are amazing...cause they do not tear everything down, like Toronto. it was the CHICAGO HISTORICAL SOCIETY that saved the FLATIRON BUILDING in TORONTO from the wrecking ball. That sums all 4 points up.
Is this a true statement. Smaller developers are forced or prefer to build less and delay projects because the development fees in this city is crazy. I have a coworker required to pay 215k in development fees at closing on a 1million dollar home.
Landlords closing on all these new condos and renting them out at a loss to tenants is reducing the wealth gap. New condos are anywhere from 5-7k a month for owners and 2.5-3.5k to rent.
Great breakdown of the Toronto condo market-helpful insights for anyone navigating these shifting trends!
The Toronto condo market has become a fantastic wealth transfer. Wealth is transferring from condo buyers to condo renters.
Renting is a much better option than buying. Rent and invest the difference in index funds. Keep it simple folks.
Just because people are transacting more, doesn't mean that prices will follow. Clearly, there is a massive oversupply of condos. Immigration growth has been cut, and this will also negatively impact this segment. I think flat to down is still the trend.
condo prices have barely moved for the last 2.5 years, even with everyone and their dog bashing them...... meanwhile declining rates will flip most owners back into cashflow positive. While it will take a while for the effects of rate cuts to be felt, by spring/summer next year the peak of new supply will be done and over with and on the downward slide to nothing. Prices are more likely to be going back up to peak around 800k on average than down by the summer.
Definitely. Prices will continue to fall, just like demand. No interest.......Owners are desperately trying to get rid of them asap
@@GreenBeanGreenBean prices have fallen. It's a fact. Some segments are down between 50-20% from peak. It really depends where you look. Downtown was hit hardest. Rates are also not going down as quickly as most anticipated. Bleed will continue.
@@Prediculous hard to be as wrong as you are. The only parts of the market down 20% from peak were the ones that went up 200%, you always forget that part.
Downtown was hit the least, it is the area that prices are holding up the best. The areas hit hardest are the fringe areas 2 plus hours away that bid housing up to 2m each... that is the only area down 20% because there still ain't no buyers that wanna commute 2 hours.
Rates are down fast and will continue to go down fast, BoC went from 5 percent down to 3.75 percent.... and will be going down to 2.5 percent. In case you didn't notice, the toronto condo cashflow index chart already shows most (new) investors back into positive cashflow.... entirely because of falling rates because rents are down a small bit.
@@GreenBeanGreenBean I'm not talking about residential single homes. I'm strictly talking about condos. The only sales that have happened were the ones that were marked down.
She is pretty with a great smile.
Condo casino run is over, the sooner you realize it, the better it is.
here we go!!! more talk....Your Condo listings always look great..because you get great properties, unique and your styling is flawless...the ''elephant in the room'' is.....
1 They all look the same, with bad finishes and to many ''same kitchen'' ''same tile same floor '' with the plastic bedroom door on tracks. does not cost that much more to switch it up ....2 they have been treated LIKE a ''STOCK OPTION'' rather than a HOME.3 Nothing is ever good enough? 4 investors/ flippers...well not much to say about that..cause we all know were that has taken the Market.
People all over the world live in Apts/ Condos...in Chicago the Condos are amazing...cause they do not tear everything down, like Toronto. it was the CHICAGO HISTORICAL SOCIETY that saved the FLATIRON BUILDING in TORONTO from the wrecking ball. That sums all 4 points up.
1.2 million temp residents expired in 2025 and must leave- Toronto Star. No demand for condo at all.
Much cheaper to rent than buy
Is this a true statement. Smaller developers are forced or prefer to build less and delay projects because the development fees in this city is crazy. I have a coworker required to pay 215k in development fees at closing on a 1million dollar home.
These 200 sq ft unliveable shoe boxes are the problem. Make liveable spaces not slave shelters.
Less population less condo to buy
Landlords closing on all these new condos and renting them out at a loss to tenants is reducing the wealth gap. New condos are anywhere from 5-7k a month for owners and 2.5-3.5k to rent.
What happened' ultra low rates FOMO and MASSIVE amounts of speculation has created an ENORMOUS bubble 🫧.
And now that bubble is popping...