Comments on: Here’s How Bad Canadian Restaurants Are Doing Into The COVID-19 Pandemic

By: DB

DB — Tue, 17 Mar 2020 19:42:39 +0000

danyo.
i thik yu don kno what bob did saying.

By: carlton

carlton — Tue, 17 Mar 2020 19:41:54 +0000

In reply to Daniel.

When people in canada are getting laid off, pandemic running wild, country is in a recession, oil prices are 30 bucks we need58 to keep people employed), manufacturing is in a downturn, consumers are filing bankruptcy at record rates.

What on earth could keep the world’s 2nd largest bubble inflated?

The only demand there will be in canada will be for welfare cheques!

By: Marc

Marc — Tue, 17 Mar 2020 19:11:01 +0000

In reply to Brad. They don't sound like very smart investors, considering the TSX is hugely undervalued and housing has no market right now.

By: Marc

Marc — Tue, 17 Mar 2020 19:00:28 +0000

In reply to Daniel. Economic inefficiency means workers just move. Why would I stay in Toronto if prices aren't in line with incomes for an extended period of time, when Montreal or New York City are now cheaper? This is what happened to Montreal in the late 80s. Prices became so inflated, that a major disruption to the economy made everyone move to a cheaper city – Toronto. Powers shift very quickly after a real recession, which Canada hasn't had in almost 30 years.

By: Brad

Brad — Tue, 17 Mar 2020 18:21:03 +0000

In reply to Bob. Yeah a few people I know are exiting out of the equities market and are looking to park the money into real estate for the time being. I'm in a new area and there's a new build just 5 houses down and it saw over 40+ people during last weekend's open house (I'm not in Toronto) and it's now sold. Mind you that's obviously not in Toronto prices, but it still went for 925k.

By: Daniel

Daniel — Tue, 17 Mar 2020 17:04:18 +0000

In reply to Bob. Hi Bob, Real estate is the biggest investment Canadians make. We will not sell your our condos for cheap price. Sellers dictate prices. If you want cheap prices, I will simply live in my condo and wait until I can sell it to you for high price. Otherwise, I will not sell it to you. Understand?

By: Bob

Bob — Tue, 17 Mar 2020 16:48:46 +0000

With hundreds of millions of people now desperate to get out of China, and Canada willing to sell real estate to anyone with a chequebook, none of this will make the slightest dent in local real estate prices. Canadian real estate is the only asset class on the planet that has not dropped. Vancouver area realtors I know say their has been an absolute buying frenzy the past few months. No price is too high.

By: Travis Hunter

Travis Hunter — Tue, 17 Mar 2020 16:40:18 +0000

In reply to Ian.

Same in Vancouver. Iconic places are citing rent and commercial property taxes as the primary cause. Tax burden shouldn’t be placed entirely on businesses. They should be distributed better amongst the community, since these are commodities that help with valuation.

https://www.theglobeandmail.com/canada/british-columbia/article-iconic-vancouver-restaurant-bishops-to-close-due-to-rent-taxes/

By: Kathleen Thomson

Kathleen Thomson — Tue, 17 Mar 2020 16:36:05 +0000

Thanks for this. Would appreciate more commercial coverage if possible.

By: Ian

Ian — Tue, 17 Mar 2020 16:32:47 +0000

Good point about Toronto, traffic was dropping before the pandemic. Restaurant turn over is very high, and new ownership is rotating fast. There is one place by my house that flipped 3 times last year, and the last owner has it listed now for sale.