No citizen wants to live in a shoebox after 30. No one under 30 can afford 500k for a shoe box. No kids can buy a condo. No citizen wants to live in it. Only ppl who bought these condos where mom n pop investsors. Canadians need to breakup with being a landlords of single family units to build wealth. Its our own fault, and the grifters and money launderers took advantage of it.
Most of the condo units are small but they are ok for single person. 250-400 sqf is enough for a single person and there are lot of people are single. If the price is between $250k-$350k including a parking spot then people would buy it. However, the current price is way way higher than that.
The condos were built for and bought by people that never intended to live in them, and as such not very functional in layout, regardless of the actual square footage. Now that the majority of buyers are people looking for a place to live in, they're rightfully not willing to pay for the wrong product. There're no investor buyers anymore as the numbers, rent vs carrying costs don't work.
Most of the condo units are small but they are ok for single person. 250-400 sqf is enough for a single person and there are lot of people are single. If the price is between $250k-$350k including a parking spot then people would buy it. However, the current price is way way higher than that.
@@peterbanh1364 I agree with you. 250k is a lot. The way I have always gone on is the rental is worth what you can get 1% of its value per month in rent. The 1% rule has held for generations. If you can get $2500 bucks in rent the condo should be worth 250k. That’s just how I do it. I personally think rents are going to come way down which will re set values. Speculation basically makes up all the rest. It’s going to get bad.
Poor layouts, poor materials and craftsmanship, small sized, minimal or overburdened public services and amenities, little to no surrounding greenspace, shall I continue?
Simply put, there is only one way to make money in Toronto, buy and sell real estate. we have a doughnut and coffee economy. Sad for the new immigrants
Last quarter, I hit the $100,000 mark, which was exciting but unremarkable. You continue to work, save, and make wise decisions despite the uncertain economic climate. Nevertheless, my portfolio has seen a significant fall in spite of market increases. My goal is to enhance it and optimize the yield.
Everyone needs a margin of safety in their portfolios. I can't offer precise advice, but consulting with a fiduciary advisor is crucial for prudent portfolio reorganization.
While maintaining the balance of your portfolio allocations, de-risk your investments, protect your core holdings, and realize some profits. During my 11 years of investing, 5 of which were spent working with a financial advisor, I have made nearly $2 million in return, which is a 10x return on my own efforts. Best I've done thus far.
*Leah* *Foster* *Alderman* is her name. Generally acknowledged as one of the best portfolio managers in the industry. Simply look up the name. You would locate the information you needed to schedule an appointment.
No citizen wants to live in a shoebox after 30.
No one under 30 can afford 500k for a shoe box.
No kids can buy a condo. No citizen wants to live in it.
Only ppl who bought these condos where mom n pop investsors.
Canadians need to breakup with being a landlords of single family units to build wealth. Its our own fault, and the grifters and money launderers took advantage of it.
Most of the condo units are small but they are ok for single person. 250-400 sqf is enough for a single person and there are lot of people are single. If the price is between $250k-$350k including a parking spot then people would buy it. However, the current price is way way higher than that.
@peterbanh1364 only way that happens is if they ban the purchase of single family units for anything but owner occupy.
The condos were built for and bought by people that never intended to live in them, and as such not very functional in layout, regardless of the actual square footage. Now that the majority of buyers are people looking for a place to live in, they're rightfully not willing to pay for the wrong product. There're no investor buyers anymore as the numbers, rent vs carrying costs don't work.
Average canadian household income is roughly 90k. How the hack people can afford 700k one bedroom apartment lol
When even a terrible government can't prop up an overpriced bubble. Remember every bubble has a pop.
Most of the condo units are small but they are ok for single person. 250-400 sqf is enough for a single person and there are lot of people are single. If the price is between $250k-$350k including a parking spot then people would buy it. However, the current price is way way higher than that.
Yep that is my guess as well. 250k is about as much as these are worth. That’s going to be a tough pill to swallow. Welcome to the bubble.
@@jeffotoole4509 Yep. $250k is reasonable price and NOT cheap. $250k is still a lot of money. It takes decades for an average Canadian to save up.
@@peterbanh1364 I agree with you. 250k is a lot. The way I have always gone on is the rental is worth what you can get 1% of its value per month in rent. The 1% rule has held for generations. If you can get $2500 bucks in rent the condo should be worth 250k. That’s just how I do it. I personally think rents are going to come way down which will re set values. Speculation basically makes up all the rest. It’s going to get bad.
Houses are for banks, not people.
Don't worry Toronto and Canada, money launderers will be back soon...
Poor layouts, poor materials and craftsmanship, small sized, minimal or overburdened public services and amenities, little to no surrounding greenspace, shall I continue?
The prices are too high, demand is too high too
Simply put, there is only one way to make money in Toronto, buy and sell real estate. we have a doughnut and coffee economy. Sad for the new immigrants
Last quarter, I hit the $100,000 mark, which was exciting but unremarkable. You continue to work, save, and make wise decisions despite the uncertain economic climate. Nevertheless, my portfolio has seen a significant fall in spite of market increases. My goal is to enhance it and optimize the yield.
Everyone needs a margin of safety in their portfolios. I can't offer precise advice, but consulting with a fiduciary advisor is crucial for prudent portfolio reorganization.
While maintaining the balance of your portfolio allocations, de-risk your investments, protect your core holdings, and realize some profits. During my 11 years of investing, 5 of which were spent working with a financial advisor, I have made nearly $2 million in return, which is a 10x return on my own efforts. Best I've done thus far.
*Leah* *Foster* *Alderman* is her name. Generally acknowledged as one of the best portfolio managers in the industry. Simply look up the name. You would locate the information you needed to schedule an appointment.
I'm happy that I stumbled into this discussion. My portfolio hasn't done well lately, therefore I think I ought to see a financial counselor.
I bet you the Chinese own 50% of them. Laundered money.
corrupt Canadian
Naw mom n pop investors in Canada are responsible. We did this to ourselves. Outlaw single family rentals for profit.