The NASDAQ with all it's technological might barely doubles every 10 years. The financial capital of the world New York city's RE prices went nowhere between for 15 years between 2005 and 2020. Assuming with certainty that Toronto RE prices will double in the next decade is BS. That happened the last decade, but this doesn't mean it will happen in the next. For that to happen we need massive and historically unprecedented economical expansion or a massive devaluation of the Canadian Dollar which will cause massive inflation (Check Argentina, Turkey, Venezuela, Zimbabwe, etc...). RE in developed countries historically appreciate at the rate of 2.5%/year. My advise: Don't count on 8%/year, it's not normal.
In the next decade? That’s a lot of time to make that sort of prediction. A lot of regime uncertainty. I’d say in the mid to short term supply will catch up and demand will be tamed. The real estate market in Canada is poisoning our economy. And it’s more exposed than ever. Interest rates ain’t coming down this year. There is no evidence to support that it will. That also goes for the u.s. we wouldnt lower before them as it will adversely affect our dollar. By end of 2024 we will need to see job losses for them to cut. Demands still too high.boc is worried about this. If everyone pools back into the market it’s counter productive to taming inflation. Which is more important for the boc.
How is supply going to meet demand when 500k to 1.2 M immigrants are still being injected into Canada with building permits lagging behind 10 years? Please provide a logical answer.
@@ScruffyWarlord immigration is leaving in droves. They can’t afford to live here. And policies are already hampering the school sector, temporary workers and slum lords oh and capital gains.
@@ScruffyWarlord lmao you make no sense. Immigration trend is going down now. Mid to long term supply will catch up. Immigration can’t and shouldn’t be used as a selling point for institutional investors hogging homes. The condo market currently is taking a beating now. Whether we have immigrants or not. There is uncertainty in the housing market now.
⏰TIMESTAMPS⏰
00:00 Introduction
01:21 Average Price Could Hit $2M In Next Decade
02:11 5 Year Historical Average Price
this is how it is right before it gets crazy again
thanks for sharing!
100%. We have a very similar economy to Australia and prices there are nearly double here in Canada. We'll be catching up that over the net 3-5 yrs.
Right! I agree
Lol so funny. Nothing is selling right now.....
Inventory is up, though our average days on market is still only around 30 days!
The NASDAQ with all it's technological might barely doubles every 10 years.
The financial capital of the world New York city's RE prices went nowhere between for 15 years between 2005 and 2020.
Assuming with certainty that Toronto RE prices will double in the next decade is BS. That happened the last decade, but this doesn't mean it will happen in the next. For that to happen we need massive and historically unprecedented economical expansion or a massive devaluation of the Canadian Dollar which will cause massive inflation (Check Argentina, Turkey, Venezuela, Zimbabwe, etc...).
RE in developed countries historically appreciate at the rate of 2.5%/year.
My advise: Don't count on 8%/year, it's not normal.
great input!
NOPE 😂
haha, please share why you believe this!
Buyers don't have the money
In the next decade? That’s a lot of time to make that sort of prediction. A lot of regime uncertainty. I’d say in the mid to short term supply will catch up and demand will be tamed. The real estate market in Canada is poisoning our economy. And it’s more exposed than ever. Interest rates ain’t coming down this year. There is no evidence to support that it will. That also goes for the u.s. we wouldnt lower before them as it will adversely affect our dollar. By end of 2024 we will need to see job losses for them to cut. Demands still too high.boc is worried about this. If everyone pools back into the market it’s counter productive to taming inflation. Which is more important for the boc.
How is supply going to meet demand when 500k to 1.2 M immigrants are still being injected into Canada with building permits lagging behind 10 years? Please provide a logical answer.
@@ScruffyWarlord immigration is leaving in droves. They can’t afford to live here. And policies are already hampering the school sector, temporary workers and slum lords oh and capital gains.
@@peej91 and who do you think they will replace those immigrants that are leaving with? More immigrants.
@@ScruffyWarlord lmao you make no sense. Immigration trend is going down now. Mid to long term supply will catch up. Immigration can’t and shouldn’t be used as a selling point for institutional investors hogging homes. The condo market currently is taking a beating now. Whether we have immigrants or not. There is uncertainty in the housing market now.
Valid points, thanks for sharing!