Demand wasn’t there. Demand is here in Toronto/GTA. I’m not sure why because this country is s&$@ and I am looking to leave. But I do own multiple properties here. Want to sell and move to the US
So something blew me away today. Right now over the next few years I heard 1200 multifamily buildings are going to be completed. With what is happening that is a an absolute sh-t storm coming right at us. At some point rookie mom and pop speculators are going to realize there is absolutely no exits for them. That is when we see panic. We ain’t there yet the fever has not gotten to 104 yet. Watching this train wreck unravel in real time is absolutely fascinating. The stories that will be told will be epic.
The problem is the market over the last 15 years has been in a MASSIVE speculative bubble and now that bubble is popping... Prices will drop like a lead balloon 🎈
Prices won't drop that much because the demand is still there from all the immigrants coming in the country. Until they shut the flood gates of immigration the prices will remain high unfortunately.
Most people buying homes right now, myself included, are doing research and listening to things like this. We all smell blood in the water. Personally we made an offer on a home 30 days ago which was rejected and since then they’ve come back to us twice trying to unload the property. So I think anyone that doesn’t need to buy isn’t and is still just waiting.
I only have 1 eye on the market. The most probable outcome is evident to those who have done their research. My eyes are on people who are in the industry and to see how they behave lol
The problem is the *prices*, pretax median household income in Toronto is ~100k. The Canadian banks and Canadian gov can keep playing this game where they pretend a bunch of broke people buying million dollar re is sustainable but the red alert is flashing.
Buyers are waiting for the prices to drop further and not the rates
keep dreaming lol
Keep waiting
I don’t have to wait or dream because I’m a senior homeowner with no mortgage 😂
@@fawadkarimzaad9016
Nice. Dream come true.
House price in China dropped below 9:54 2016, nearly 40% down, dream comes true.
Demand wasn’t there. Demand is here in Toronto/GTA. I’m not sure why because this country is s&$@ and I am looking to leave. But I do own multiple properties here. Want to sell and move to the US
What are the Municipalities included in the Toronto area?
It consists of all the municipalities in York, Durham, Halton and Peel regions along with the City of Toronto
@@john_pasalis thanks John. Really appreciate your show. Very informative.
So something blew me away today. Right now over the next few years I heard 1200 multifamily buildings are going to be completed. With what is happening that is a an absolute sh-t storm coming right at us. At some point rookie mom and pop speculators are going to realize there is absolutely no exits for them. That is when we see panic. We ain’t there yet the fever has not gotten to 104 yet. Watching this train wreck unravel in real time is absolutely fascinating. The stories that will be told will be epic.
Is it 1200 in the GTA or a specific market? I find the answer really just to hold long.
Your comment is a train wreck.... english please!
@@katethegardener my grammar was pretty bad you are right. I will do better.
The problem is the market over the last 15 years has been in a MASSIVE speculative bubble and now that bubble is popping...
Prices will drop like a lead balloon 🎈
dream on lol
@@sanhtu77is your investment down?
Prices won't drop that much because the demand is still there from all the immigrants coming in the country. Until they shut the flood gates of immigration the prices will remain high unfortunately.
Most people buying homes right now, myself included, are doing research and listening to things like this. We all smell blood in the water. Personally we made an offer on a home 30 days ago which was rejected and since then they’ve come back to us twice trying to unload the property. So I think anyone that doesn’t need to buy isn’t and is still just waiting.
I only have 1 eye on the market. The most probable outcome is evident to those who have done their research. My eyes are on people who are in the industry and to see how they behave lol
The problem is the rates, who can afford 700k mtgs
The problem is the *prices*, pretax median household income in Toronto is ~100k. The Canadian banks and Canadian gov can keep playing this game where they pretend a bunch of broke people buying million dollar re is sustainable but the red alert is flashing.
But look around! Thats who’s holding the houses?! Duhhh