Let's work together, as a society, to prioritize the concept that people should be able to afford homes, generally. Otherwise this is a crap society made of poop.
Haven't watched your show in a while. Last time I did I think MOI was ~3. Condo prices will drop. You can discuss the data, you can discuss MOI, you can discuss rates etc. Nobody wants to live in 450sqft. Period. Will people get into the market? Yes they will but they will want a significant price decrease. Significant to me is $75k on a $500k condo price. With respect to layout, can you please define "great floorplan"? I will be even more specific; define "great floorplan" for a 1 bedroom condo. How much would you say is the dollar value of having a gas bbq on your balcony? 2/10 examples were people buying condos for their kids. This trend might continue because the value will be there for condo buyers. Inventory will continue to build in the condo market. With respect to immigration, what happens IF, (big if) PP turns off the tap on immigration or simply reduces immigration to 125k per year? Do we, as a country need 4M homes? I dont think so and never did. Does each immigrant need their own place to live? Can they even afford to live on their own? How many students were living in that illegal Brampton basement? Do the math people. I expect both rents to drop and prices overall to drop. Including interest rates and that is the "curveball" as most experts on social media have been salivating at the fact once rates drop, prices will go up and you better buy now! FOMO is no more.
Long as C1 keeps slowly going up, I could care less what overall condo market does. However, the longer the cuts go on, the further into cold months we get, higher rents will be and more competitive buying will be. Both push prices upwards as time goes on. Unless massive amounts of people leave the GTA, prices not going down anytime soon.
in 2-3 years 1.5 million immigrants will come and need place to buy all these inventory will be bought and no new buildings will be there since very few precon sold in 2024 prices will go up again so i think best to hold for 2-3 years
They could drop 10% more about. But that's about it. I wouldn't expect much more price depreciation in the gta. Rate cuts will continue to put even condos back in the game for investors
There are definitely some speculative homes out there that shouldn’t be worth as much as they do. Like tiny condos and 1300 Sqft 4 story townhouses. But proper properties ain’t going to tank 50%.
Should look into blackrock and vanguard and other holdings company and look at how much of their holdings are in the housing market. The numbers are insane and it doesnt help anyone but them
Recession started, the crash here !!! The prices has no room unless go down!!!! No return to the peak price any time soon , it will take 10 years from now to go back to Covid peak!!
Thank you for sharing Tom, great information!
Let's work together, as a society, to prioritize the concept that people should be able to afford homes, generally. Otherwise this is a crap society made of poop.
Is that a communist mentality?
Absolutely. We make $95 a year salary but we can’t afford even small home. Absurd isn’t it?
Too much tax drives the cost of building houses up... Too many regulations gatekeep the development...
Condo market will go up in 2028 and that is okay with me. For now it will stay flat.
Will it go up to record high? I wonder how low the floor will be?
Great video, to the point
Haven't watched your show in a while. Last time I did I think MOI was ~3.
Condo prices will drop. You can discuss the data, you can discuss MOI, you can discuss rates etc.
Nobody wants to live in 450sqft. Period. Will people get into the market? Yes they will but they will want a significant price decrease. Significant to me is $75k on a $500k condo price.
With respect to layout, can you please define "great floorplan"? I will be even more specific; define "great floorplan" for a 1 bedroom condo.
How much would you say is the dollar value of having a gas bbq on your balcony?
2/10 examples were people buying condos for their kids. This trend might continue because the value will be there for condo buyers. Inventory will continue to build in the condo market.
With respect to immigration, what happens IF, (big if) PP turns off the tap on immigration or simply reduces immigration to 125k per year?
Do we, as a country need 4M homes? I dont think so and never did. Does each immigrant need their own place to live? Can they even afford to live on their own? How many students were living in that illegal Brampton basement? Do the math people.
I expect both rents to drop and prices overall to drop. Including interest rates and that is the "curveball" as most experts on social media have been salivating at the fact once rates drop, prices will go up and you better buy now! FOMO is no more.
Thanks..
Long as C1 keeps slowly going up, I could care less what overall condo market does. However, the longer the cuts go on, the further into cold months we get, higher rents will be and more competitive buying will be. Both push prices upwards as time goes on. Unless massive amounts of people leave the GTA, prices not going down anytime soon.
What is C1 ??
@@aguantecanada MLS code for the area on Torontos waterfront
in 2-3 years 1.5 million immigrants will come and need place to buy all these inventory will be bought and no new buildings will be there since very few precon sold in 2024 prices will go up again so i think best to hold for 2-3 years
I’m holding for 4-6 yrs then retiring!!$$$$
@@konstantinshapiro4968
Thats why CMHC said prices could go up 89% by 2030
Let's just say if prices drop 50% , they're still going to be expensive because homes shouldn't have been at this price level in the first place.
They could drop 10% more about. But that's about it. I wouldn't expect much more price depreciation in the gta. Rate cuts will continue to put even condos back in the game for investors
There are definitely some speculative homes out there that shouldn’t be worth as much as they do. Like tiny condos and 1300 Sqft 4 story townhouses.
But proper properties ain’t going to tank 50%.
Yeah? Then how do you build them? To loose money?
Ridiculous how uneducated people really are
cannot drop 50% we expect 1.5 million immigrants in 2-3 years that buy condos as cheapest for
m of real estate and push prices up
Bro, I had been waiting for the real estate market to crash since 2008. The price went xxx. Stop waiting for the “crash”.
As of July 2024 , downtown Toronto has 10 months of inventory for condos and of which 55 % are for investors
In July C01 had 6.8 months of inventory and C08 has 8.3. Combined for downtown it was 7.3 months. Very much a buyers market but not 10 months.
Should look into blackrock and vanguard and other holdings company and look at how much of their holdings are in the housing market. The numbers are insane and it doesnt help anyone but them
Canadian housing as well?
@@TomStoreythey’re probably shorting Canadian Housing 😂
But it is still hard to find the right rental property. Not that easy.
Recession started, the crash here !!! The prices has no room unless go down!!!! No return to the peak price any time soon , it will take 10 years from now to go back to Covid peak!!