Toronto's real estate

Canadian Real Estate Investing Discussion
FinancialAdmin
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Toronto's real estate

Postby FinancialAdmin » Tue Jun 03, 2008 1:42 am

I want to start a discussion about the Toronto's real estate market. In my opinion this market is severely overpriced and it will come crashing down very soon. I know that this opinion is not popular amongst the Toronto home owners, but investors should control their emotions and buy when the prices are low and sell when prices are high. After the great run we had in the GTA/Toronto real estate market in the last few years, the only way is to go down.

Please share your opinions?

spencer
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Joined: Thu May 29, 2008 8:46 pm

Re: Toronto's real estate

Postby spencer » Tue Jun 03, 2008 6:02 pm

I live in GTA and I can tell you that affordability and Toronto real estate shouldn't be used in one and the same sentence. This is artificially inflated market, due to crash hard really soon. Canadians and Torontians refuse to accept that there is a huge real estate bubble in Canada, but that will not stop prices from correcting. We are seeing the first phase of housing market crash that will be both painful and prolonged. This first phase is characterized with complete denial of the bubble, but soon will be replaced by panic in real estate markets as the housing crisis progresses.

gonzo13
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Re: Toronto's real estate

Postby gonzo13 » Tue Jun 03, 2008 6:21 pm

I don't know how it is in Toronto but I think Canada is different from US and the real estate market won't crash. It may slow down a little but it will not crash.

theway
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Re: Toronto's real estate

Postby theway » Thu Jun 05, 2008 6:59 pm

gonzo13 wrote:I don't know how it is in Toronto but I think Canada is different from US and the real estate market won't crash. It may slow down a little but it will not crash.


It looks like you are a homeowner or you are looking to buy soon. Am I right? The Canadian real estate market is not that different than the US one, and the Canadian economy is closely related and dependent on the US economy. You do the math.

stocks
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Joined: Wed Jun 04, 2008 1:27 pm

Re: Toronto's real estate

Postby stocks » Fri Jun 06, 2008 6:26 pm

I'm a Toronto home owner, and I don't think that there is a problem with the real estate market here. Look at the prices year over year - they are still going up. I don't see why everybody is crying "the sky is falling", when the market is doing just fine.

juliusfaraday
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Re: Toronto's real estate

Postby juliusfaraday » Sat Oct 04, 2008 7:20 am

its going higher but not far from previous investments

FinancialAdmin
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Re: Toronto's real estate

Postby FinancialAdmin » Fri Oct 17, 2008 6:06 pm

juliusfaraday wrote:its going higher but not far from previous investments


No, it's not going higher, actually it's going down. The first half of October 2008 had 21% less sales compared to October 2008. The really bad news for homeowners in Toronto is however that the price declined 15% for the same period. This is what I call an outright crash. Here is the source:

http://www.torontorealestateboard.com/consumer_info/market_news/news2008/pdf/nr_101708.pdf

proplanner
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Re: Toronto's real estate

Postby proplanner » Mon Oct 20, 2008 11:16 am

gonzo13 wrote:I don't know how it is in Toronto but I think Canada is different from US and the real estate market won't crash. It may slow down a little but it will not crash.

Even I think in the same way. Real estate market may be slow down a bit but won't crash.

theway
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Re: Toronto's real estate

Postby theway » Mon Oct 20, 2008 2:34 pm

proplanner wrote:Even I think in the same way. Real estate market may be slow down a bit but won't crash.


It looks like you are in the US. What makes you think that the market won't crash. What do you call 15% price decline year-over-year?

proplanner
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Re: Toronto's real estate

Postby proplanner » Wed Oct 22, 2008 7:15 am

If you compare it with other channels of investments like stocks or funds, real estate won't fluctuate like they do.


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