Comments on: Toronto Condo Prices Drop, But Buyers Are Paying “Over Ask”

By: Paul

Paul — Thu, 12 Aug 2021 06:17:03 +0000

In reply to Ben. Ah nope. Insurance premiums are on the rise. Expect the trend to continue.

By: flipg

flipg — Tue, 10 Aug 2021 23:34:46 +0000

The Great Thing about a Debt Based Economy like Canada’s: it can crash anytime.

Then the Bankers can utillize Gates Patent # 060606 (“”Cryptocurrency system using body activity data”) microchip in some kind of collar; throw debtors into holes armed with picks and shovels; and previously nonproductive energy can be harnessed and translated into crypto tokens for their creditors.

I fully expect indentured servitude to be back in vogue by 2030. Those high rollers with a pocket full of Vancouver and Toronto mortgages will be first in line at the Gulag.

History has important lessons.

Wakeup and smell the Brimstone.

By: Dar Robbins

Dar Robbins — Tue, 10 Aug 2021 22:47:12 +0000

No Duh.
BoC wont stop buying MBS fromCMHC.
They even told us that they will put a floor on RE prices.

By: Ben

Ben — Tue, 10 Aug 2021 18:28:21 +0000

In reply to GTA Landord. Maintenance fees have also been declining since the pandemic, since insurance rates are lower when everyone is home (less fire damage ,etc). I don't expect that to be the normal once things reopen again.

By: GTA Landord

GTA Landord — Tue, 10 Aug 2021 18:26:49 +0000

Condos were negative cap before the pandemic. Imagine where they are now.

By: Jamie

Jamie — Tue, 10 Aug 2021 18:16:48 +0000

Two things can be true at once, it depends on the narrative buyers are listening to. Everyone I know looking for a house thinks prices are going to rise a million percent every month, and it’s their path to financial freedom.

Meanwhile, people selling property arent’ in a rush to get rid of their places, and are trying to enjoy the summer before selling. Even in a cold market, property in Toronto will always sell, it just takes longer. Enjoy the summer. Can always buy a place after the lockdowns are back in the fall.

By: Peter Drunken

Peter Drunken — Tue, 10 Aug 2021 17:44:03 +0000

In reply to Robert. It's 10% of the gain, for the first month against higher demand. At half that velocity you're looking at prices going negative in 5-6 months for a place half o investors are already negative cap by $12k per year. Ignorance is bliss.

By: Robert

Robert — Tue, 10 Aug 2021 17:24:33 +0000

$3k – you call it price decrease? :)))
It can be considered as rounding difference (either way) just because different months different type of units are sold (composition changes) so there are natural fluctuations.