The Toronto Condo Crash Is Imminent
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- Опубліковано 1 жов 2024
- Stuck with a condo nearing completion and worried about the market? You're not alone. Let's break down your options: close or assign?
As we navigate these uncertain times, many are finding their pre-purchased condos aren't appraising at expected values. With the market down, you're faced with two choices.
First, you could assign your property, selling your agreement to another buyer before closing. It might seem like an easy out, but with assignments stalling in the current market, finding a buyer willing to take over at a big profit is tough.
Alternatively, you could close on the property, taking on monthly losses due to negative cash flow. This is a gamble, betting on the market's eventual recovery. Remember, closing means committing to years of potential financial strain unless the market swings back.
The root of this dilemma? A market boom driven by low interest rates during the pandemic, leading to high purchase prices now misaligned with current values. Whatever path you choose, it's a decision weighed heavily by the market's unpredictable nature.
Struggling to decide or need more insights? Book a call below and let’s chat.
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Thats for your insights. However, I disagree based on the underlying economics. Supply relative to demand is the key driver for housing here. With record levels of immigration, there is likely no crash imminent in my view.
Then we agree on the same thing. The actual video goes on to refute this blog post that I saw, our real estate market really isn't going to be crashing any time soon.
bad info
Time for the government to heavily tax anyone who has more than one house. Time to stop the rent-seeking behaviour.
We already get taxed heavily. To discourage more "rent-seeking" will discourage more development. It's investors that fund projects to get them off the ground, not end users. Besides, more rental inventory is good for tenants.
Love the videos atmosphere 🔥
Thanks for your insights!
if the 130 historical interest rate average is 4.75% dont count that the rates must drop is not really a theory thats plausible.
What? 130 year interest rate? You mean 30 year?
Anyway, I don’t think the neutral overnight lending rate is where it’s at now, it’s more like 3% or below.
Thanks.
130 year ...
would you say 2026 is when you would really see supply shortage?
I would think a little later, closer to 2027+, based on the rate hike timeline that started in 2022-2023. It takes about 4-5 years to get a project sold and built.
Scrolling thru the videos and noticing the Ukrainian flag 🇺🇦 in the background. Well, now I'm even more motivated to watch the video, like & comment.
Slava Ukraini!
no
You have a lot of good insights but you're talking a bit fast. I think you could slow down and expand on some of your thoughts. I don't live in Toronto but I am interested in what's happening in other real estate markets. If you could give more background for your observations, I think it would be helpful for people like me.
Thanks for the feedback! I'll slow it down for the next video.
Settings --> Playback Speed --> set it to 0.75. I personally prefer the fast talk so I can get through quicker.
Exactly 👍
Ukraine flag in the background, your about to hear the worst take of your life