Comments on: Toronto Real Estate Correction Hits Pause, Prices Jump $27k Higher

By: R2d2

R2d2 — Sun, 09 Apr 2023 03:55:26 +0000

If the US could not forestall it’s RE and leveraged bubble collapse in 2008, neither can Canada.

The only question is will the govt of Canada offload the losses of banks and real estate flippers onto others – those who did not part take in the bubble nor reap its profits.

Institutions like CMHC seem to exist to pass the loss from banks onto the people, but this is moral hazard.

By: MEM

MEM — Thu, 06 Apr 2023 05:14:38 +0000

I don’t know which way this will go in the near term but I have a few thoughts. First, crazy long amoritizations cannot end well. Second, rate hikes haven’t hit the bulk of folks who are locked in, that is a next year issue. Third, anecdotally it seems a lot of high value GTA homes have sold recently which may skew the average price upward. Fourth, if we are going into recession as it seems we are then job losses will hit hard and should force selling. Fifth, we have pushed the day of reckoning out and out and out, but I doubt we will see no reckoning ever especially with rates of indebtedness and crazy income to house price values.

By: Daniel Hrabarchuk

Daniel Hrabarchuk — Wed, 05 Apr 2023 18:02:59 +0000

1,000,000+ immigrants are coming in, at least half will end up in Toronto. Hopefully they can all find jobs, all will put pressure on housing. So the prices will go up but not for the right reasons. We need the growth, no doubt, but we also need a plan.

By: Average Man

Average Man — Wed, 05 Apr 2023 17:06:01 +0000

Canadian housing will never collapse. It will just collapse the rest of the economy.

By: Ray

Ray — Wed, 05 Apr 2023 16:48:20 +0000

It’s all a scam to keep the people thinking everything is fine even with higher rates. They can deceive all they want but in the end housing is still unaffordable with higher rates or 0% rates. Pick one.