Will Prices Fall and Other Key Questions About Toronto's Condo Market

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  • Опубліковано 21 лис 2024

КОМЕНТАРІ • 49

  • @benho2006
    @benho2006 3 місяці тому +1

    A video that talked about negative amortization mortgages mentioned some banks allow monthly payments to remain unchanged while principal owing goes up. I suspect this enables Investors to feel more comfortable holding and postponing thought selling in a distressed fashion. Holding a paper loss while hoping for a better market.

  • @peej91
    @peej91 3 місяці тому +14

    Definitely all psychological. The sentiment has now shifted. If investors can hold out id say be prepared to hold out for atleast 3-5 years of carrying costs maintenance insurance taxes etc. it all comes down to fundamentals.. sooner or later prices have to match people’s incomes.

    • @suelee5978
      @suelee5978 3 місяці тому +2

      Very spot on ❤

    • @Lifeisapartydresslikeit
      @Lifeisapartydresslikeit 3 місяці тому +5

      You are wrong! Housing will never match our incomes. Please stop with this nonsense. If that was the case everyone would own a home AND if house prices keep falling no one will want to buy a house. No one. Ever!! Come on now guys!!

    • @peej91
      @peej91 3 місяці тому +4

      @@Lifeisapartydresslikeit houses are for families and end users period. To have housing is ephemeral for Canadians and the American dream. You take this away prepare for a major problem and polarity between the rich and poor. High housing prices poison everything. If prices for homes went down families would be able to buy them. And investors can start investing in other things that actually contribute to the countries gdp. If your own renters can’t pay let alone your civil servants who will be able to afford anything. It is not sustainable. Smart ones sold already. And are living in Costa rica

    • @Lifeisapartydresslikeit
      @Lifeisapartydresslikeit 3 місяці тому +1

      @@peej91it’s been taken away! Years ago. Where have you been? I have been a home owner for 22 years and 22 years ago it was unaffordable. So let’s stop the nonsense. If you’re waiting for it to be affordable- I’ll be here waiting for you to tell me when that will be. Owning a home is not for low income families - it never was

    • @peej91
      @peej91 3 місяці тому +2

      @@Lifeisapartydresslikeit low income? I’m talking about the middle class being to able to afford it. And if it doesn’t, be prepared for people to eat the rich at this point. Good luck keeping your homes and your fancy cars safe with that mentality. The next generation needs a chance and will get it. Whether it’s in Canada or not. The Canadian and American dream is not owning a home so someone else can pay for it.

  • @adamnarbeaux5898
    @adamnarbeaux5898 3 місяці тому

    Great presentation. New subscriber.

  • @Ma3kot33
    @Ma3kot33 3 місяці тому +2

    Canada economy wise depends upon USA. And if USA slips into ressesion in few months that will effect jobs here. And nobody make big purchases if they dont feel good financialy.

  • @Relaxlifeisshort2
    @Relaxlifeisshort2 3 місяці тому +7

    Condo prices may but detatched i dont see it happening

    • @CalCalCal6996
      @CalCalCal6996 3 місяці тому +1

      These markets are not wholely independent because many detached home buyers are people who have just sold their condo and are upsizing. If they can't get as much for their condo they have less for their next purchase. It will happen later but it will happen.

    • @Relaxlifeisshort2
      @Relaxlifeisshort2 3 місяці тому

      @@CalCalCal6996 mark my words it wont it good location they will go there is enough money around

    • @charlescg3904
      @charlescg3904 2 місяці тому

      @@CalCalCal6996The amount of obscene wealth in this city is ridiculous as is the poverty. Just going to the gym during the day at a well off suburb and you’ll see how many people have nothing to worry about financial wise and don’t have to work a day of their life. Talk to some of them and you’ll realize they live a different reality. There’s a lot of money in this country, it’s just concentrated in the top wealth brackets but that population size has been greatly underestimated. There’s a lot of hidden wealth….

  • @Lifer996
    @Lifer996 3 місяці тому

    Good info, thanks.

  • @MoisesEsquirolet
    @MoisesEsquirolet 3 місяці тому

    Hi, do you know anyone who provides these sorts of analyses for the Metro Vancouver area? I would appreciate having this data to make smart decisions in my area.

  • @Wolfpack1298--3
    @Wolfpack1298--3 3 місяці тому +2

    The future of the market is bright. Home ownership is a long term plan, people don't sell on low. The good home owners will wait for the rates to go down and then they will go to the market if they want to go to the market. We saw a lot of these fluctuations, don't get stressed and emotional. The new inventory is the new condos. In the next two three years, the inventory will go down because they don't build now. There will be a jump in price. Just keep your condo and wait a few years. A lot of people have a lot of equity in the condos, just get the home line for the next 2 years to pay the difference between mortgage and rent

  • @robertscott8336
    @robertscott8336 3 місяці тому

    Prices are 10 times income for the average (non speculatior) household. ... Vs 3 times in a balanced economy. Of course it's a bubble! Of course prices are going to fall! But the investors holding the bag, they'll hang on tooth and nail before accepting reality and even worse losses.

  • @DrDrae81
    @DrDrae81 3 місяці тому +2

    Someone just lost over $300k on a condo sale but John still claims prices are “sticky “ 😂

    • @CalCalCal6996
      @CalCalCal6996 3 місяці тому +1

      I guess he means asking prices are sticky lol

    • @I.H931
      @I.H931 3 місяці тому

      New condos have lost 10-25%. Condo’s built from 1990-2012 barely went up and barely will decline. Also new condo’s selling as assessments not in the data

    • @davidhughes6048
      @davidhughes6048 3 місяці тому

      He said “prices” not “the price of that one guy’s condo that he overpaid for”. 🙄

    • @DrDrae81
      @DrDrae81 3 місяці тому

      @@davidhughes6048There are plenty of condos selling for 2019 or earlier prices. How sticky is that ??

    • @I.H931
      @I.H931 3 місяці тому

      @@davidhughes6048 there are dozens. I can find you many that have lost 20% of their value!

  • @naturallyaspirated8893
    @naturallyaspirated8893 3 місяці тому +6

    At a million immigrants/year, the condo market won't be crashing anytime soon

    • @DJjussi1
      @DJjussi1 3 місяці тому +4

      Immigrants don’t live in downtown condos

    • @naturallyaspirated8893
      @naturallyaspirated8893 3 місяці тому +4

      @@DJjussi1 you clearly haven't been to a downtown condo before

    • @charlescg3904
      @charlescg3904 3 місяці тому +5

      If these are a million Chinese immigrants with capital, the market will look very different from a million struggling Indian students…

    • @susannachua7305
      @susannachua7305 3 місяці тому +2

      @@charlescg3904Indians will be the next cohort of Chinese immigrants. Highly educated and hardworking! You’ll see in the next few years…

    • @DJjussi1
      @DJjussi1 3 місяці тому +3

      @@naturallyaspirated8893 i used to live in one lol - most immigrants coming are low-income. and they are assigned places to go in canada, they can't just choose to go live in toronto, and they can't afford a condo.
      the condo market will likely crash.

  • @Glin-z1t
    @Glin-z1t 3 місяці тому +1

    Prices have already drop substantially, and if you adjust it for inflation, it's even worse 😂 To all genius RE "investors"

  • @BowtieJDP
    @BowtieJDP 3 місяці тому

    The solution is importing millions of new Canadians so they can live 12 to a 350sqft condo.

  • @jay1645
    @jay1645 3 місяці тому +3

    Article in the G&M, losses will exceed '08 crisis in Canada and Can. banks will have US losses too