Inside Toronto's slumping condo market | The Big Story

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  • Опубликовано: 8 сен 2024
  • There's a record number of Toronto condominiums on the market right now, and despite record immigration, and an ever-worsening housing crisis, nobody seems to want to buy them.
    So how hard is it to offload a condo in one of North America's hottest property markets? What happened to all of the motivated buyers? And what does the trend say more broadly about the state of Canadian real estate?
    GUEST: Diana Zlomislic, Housing reporter for The Toronto Star
    Episode link: play.headliner...

Комментарии • 26

  • @andrewcrook2240
    @andrewcrook2240 2 месяца назад +16

    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.

    • @peterbanh1364
      @peterbanh1364 2 месяца назад

      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.

    • @andrewcrook2240
      @andrewcrook2240 2 месяца назад

      @peterbanh1364 only way that happens is if they ban the purchase of single family units for anything but owner occupy.

  • @ENTHUSIASTICFIFAFAN
    @ENTHUSIASTICFIFAFAN 2 месяца назад +16

    Average canadian household income is roughly 90k. How the hack people can afford 700k one bedroom apartment lol

  • @kenny1514
    @kenny1514 2 месяца назад +6

    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.

  • @TBA-zv9qt
    @TBA-zv9qt 2 месяца назад +10

    Don't worry Toronto and Canada, money launderers will be back soon...

  • @lesktube
    @lesktube 2 месяца назад +7

    Poor layouts, poor materials and craftsmanship, small sized, minimal or overburdened public services and amenities, little to no surrounding greenspace, shall I continue?

  • @thaimanclark
    @thaimanclark 2 месяца назад +6

    Houses are for banks, not people.

  • @ianleslie6971
    @ianleslie6971 2 месяца назад +6

    When even a terrible government can't prop up an overpriced bubble. Remember every bubble has a pop.

  • @dirtlump
    @dirtlump 2 месяца назад +9

    "Slumping" Condo market ? the GTA Condo market is already in freefall into a CRASH !

  • @AdamWright8fool
    @AdamWright8fool 2 месяца назад +49

    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.

    • @LouisMorganxb3
      @LouisMorganxb3 2 месяца назад

      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.

    • @palebiss1646
      @palebiss1646 2 месяца назад

      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.

    • @palebiss1646
      @palebiss1646 2 месяца назад

      *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.

    • @ms_christinejones
      @ms_christinejones 2 месяца назад

      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.

  • @peterbanh1364
    @peterbanh1364 2 месяца назад

    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.

  • @neeluswar
    @neeluswar 2 месяца назад

    The prices are too high, demand is too high too

  • @masseysubra3165
    @masseysubra3165 2 месяца назад +1

    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

  • @thaimanclark
    @thaimanclark 2 месяца назад +13

    I bet you the Chinese own 50% of them. Laundered money.

    • @cafeconspanishgranny
      @cafeconspanishgranny 2 месяца назад

      corrupt Canadian

    • @andrewcrook2240
      @andrewcrook2240 2 месяца назад +4

      Naw mom n pop investors in Canada are responsible. We did this to ourselves. Outlaw single family rentals for profit.