By: Alan

Alan — Wed, 06 Apr 2022 00:43:56 +0000

The beginning of the end for greedy speculators.
A great time for the average Canadian who doesn’t own a home. A great time for small business.

By: V

Wed, 06 Apr 2022 00:15:19 +0000

30% drop minimum

By: Agent bob

Agent bob — Tue, 05 Apr 2022 19:38:25 +0000

For some time now it has made no sense to buy real estate for a long term investment. Most people buying in the last year are dumping, or now trying to dump investment properties because they have gained so much equity in the last 6 months.
Of course the market has especially gone crazy because the government , as of this past January, was supposed to put a 2 year moratorium on non resident buyers. They voted it down in the end of February; shame on them, so now there is not the same frenzy on non residents to buy before they were going to be shut out.
Hence, the market has slowed down and only the suckers are buying now.
I’ll give you an example on how it makes no sense for an investor to buy now. Let’s say you buy a townhome for 1 million . In most parts of the gtha you will get ,at the most, about $3000.
If you put down 20% you are left with a mortgage of $800,000 which carries for ,at today’s rates, about $4000 PER MONTH.
Add average tax of 400 per month and then average maintenance of $450 per month and your total carrying cost is $4850 per month.
It is costing about $1850 per month to carry it.
Makes no sense unless you are a money launderer or a rich non resident that care little for costs.
It only makes sense for those investors and many are even leaving them vacant.
Crack down on money laundering and non residents and you will definitely see prices fall.

By: C.Rose

C.Rose — Tue, 05 Apr 2022 16:55:22 +0000

The beginning of the end is upon us. People will be surprised by how quickly real estate prices will be affected by rising interest rates.

Comments on: Toronto Real Estate Sales Fell 3x Faster Than New Inventory, Enters Balanced Market

By: Alan

By: V

By: Agent bob

By: C.Rose