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Showing posts with label Toronto. Show all posts
Showing posts with label Toronto. Show all posts

October 13, 2017

Toronto Houses Are Losing Value At A Rate Of $100,000 A Month

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  3. Toronto Houses Are Losing Value At A Rate Of $100,000 A Month
REMercsChamp 2 weeks ago#1
http://www.huffingtonpost.ca/2017/09/06/toronto-houses-are-losing-value-at-a-rate-of-100-000-a-month_a_23198863/

Just wait 8-9 months and you can get a house in Toronto for free, or wait a year and people will pay YOU to own a house!
BootyGif 2 weeks ago#2
FLUFFYGERM 2 weeks ago#3
haha wow canada's economy really is tanking, eh?
ssj3vegeta2 2 weeks ago#4
K181 2 weeks ago#5
An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


I think they'll be fine.
The poster formerly known as Kakarot181: July 2, 2002 - March 14, 2012.
Irregardless, for all intensive purposes, I could care less.
FLUFFYGERM 2 weeks ago#6
K181 posted...
An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


I think they'll be fine.


$400,000 decreases in a matter of months means the bubble is popping
kuwab0 2 weeks ago#7
apocalyptic_4 2 weeks ago#8
Good houses in the GTA area are $700'000 to over 2 million.

It's been unaffordable to live in the area for years.
PSN: Adrian396
XBL: Prime Legacy Nintendo ID: Apocalypse
REMercsChamp 2 weeks ago#9
apocalyptic_4 posted...
Good houses in the GTA area are $700'000 to over 2 million.

It's been unaffordable to live in the area for years.

Like I said, wait 7-8 months and you can grab yourself a home for $0
K181 2 weeks ago#10
FLUFFYGERM posted...
K181 posted...
An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


I think they'll be fine.


$400,000 decreases in a matter of months means the bubble is popping


Yup, and that'll screw over the people looking to flip (HGTV) and folks with just bad timing, but longterm owners will be fine as the market will recover and rebound over the span of years.
The poster formerly known as Kakarot181: July 2, 2002 - March 14, 2012.
Irregardless, for all intensive purposes, I could care less.
Butterfiles 2 weeks ago#11
any reasons why?
FLUFFYGERM 2 weeks ago#12
K181 posted...
FLUFFYGERM posted...
K181 posted...
An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


I think they'll be fine.


$400,000 decreases in a matter of months means the bubble is popping


Yup, and that'll screw over the people looking to flip (HGTV) and folks with just bad timing, but longterm owners will be fine as the market will recover and rebound over the span of years.


i'm sure everyone thought the same thing in 2007
REMercsChamp 2 weeks ago#13
Butterfiles posted...
any reasons why?

Can't find anyone to buy them - there's barely anyone even living here, there's rows and rows of giant, empty properties everywhere you turn.
REMercsChamp posted...
Butterfiles posted...
any reasons why?

Can't find anyone to buy them - there's barely anyone even living here, there's rows and rows of giant, empty properties everywhere you turn.


Why?
K181 2 weeks ago#15
FLUFFYGERM posted...
K181 posted...
FLUFFYGERM posted...
K181 posted...
An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


I think they'll be fine.


$400,000 decreases in a matter of months means the bubble is popping


Yup, and that'll screw over the people looking to flip (HGTV) and folks with just bad timing, but longterm owners will be fine as the market will recover and rebound over the span of years.


i'm sure everyone thought the same thing in 2007


All depends on the market, but the housing market has recovered in many places, particularly in wealthier regions not centered around bubble housing growth. For established cities like Toronto, they're guaranteed still have growth as the economic center of Canada. They'll be fine within 2-3 years.
The poster formerly known as Kakarot181: July 2, 2002 - March 14, 2012.
Irregardless, for all intensive purposes, I could care less.
(edited 2 weeks ago)reportquote
REMercsChamp 2 weeks ago#16
LethalAffinity posted...
REMercsChamp posted...
Butterfiles posted...
any reasons why?

Can't find anyone to buy them - there's barely anyone even living here, there's rows and rows of giant, empty properties everywhere you turn.


Why?

It's a ghost town - no jobs, no immigration, people leaving en masse.
FLUFFYGERM 2 weeks ago#17
K181 posted...
FLUFFYGERM posted...
K181 posted...
FLUFFYGERM posted...
K181 posted...
An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


I think they'll be fine.


$400,000 decreases in a matter of months means the bubble is popping


Yup, and that'll screw over the people looking to flip (HGTV) and folks with just bad timing, but longterm owners will be fine as the market will recover and rebound over the span of years.


i'm sure everyone thought the same thing in 2007


All depends on the market, but the housing market has recovered in many places, particularly in wealthier regions not centered around bubble housing growth. For established cities like Toronto, they're guaranteed still have growth as the economic center of Canada. They'll be fine within 2-3 years.


nope. the supply of homes will exceed the demand for a long time.
REMercsChamp posted...
LethalAffinity posted...
REMercsChamp posted...
Butterfiles posted...
any reasons why?

Can't find anyone to buy them - there's barely anyone even living here, there's rows and rows of giant, empty properties everywhere you turn.


Why?

It's a ghost town - no jobs, no immigration, people leaving en masse.


I thought Toronto received lots of immigrants? Is it just too expensive to live there?
REMercsChamp 2 weeks ago#19
LethalAffinity posted...
REMercsChamp posted...
LethalAffinity posted...
REMercsChamp posted...
Butterfiles posted...
any reasons why?

Can't find anyone to buy them - there's barely anyone even living here, there's rows and rows of giant, empty properties everywhere you turn.


Why?

It's a ghost town - no jobs, no immigration, people leaving en masse.


I thought Toronto received lots of immigrants? Is it just too expensive to live there?

Too expensive? House prices are dropping $100,000 a MONTH! Even those $1.2M detached homes in the nice area of the city will be ZERO dollars in a year!
(edited 2 weeks ago)reportquote
FightingGames 2 weeks ago#20
right on time. i have been needing to buy a house in GTA
REMercsChamp 2 weeks ago#21
FightingGames posted...
right on time. i have been needing to buy a house in GTA

They'll soon be giving houses away in Toronto along with a combo meal from McDonalds...burger, fries, drink, throw in a house for $1.50 extra
CruelBuffalo 2 weeks ago#22
https://globalnews.ca/news/3771677/luxury-real-estate-vancouver-toronto/

Seems the real reason is because the government is going after non-Canadians just buying homes for investment purposes
joe_stalin518 2 weeks ago#23
They won't become worthless with a value of 0 $ , they will keep falling until people start buying again but they won't hit 0 that's just stupid
Leveling off anywhere between 100K-500K, but this was long overdue for Canada cause housing prices were pretty fucking stupid
how does super mario world work without updates?
Relax I know what I'm doing,I been killing topics since 1987
(edited 2 weeks ago)reportquote
REMercsChamp 2 weeks ago#24
joe_stalin518 posted...
They won't become worthless with a value of 0 $ , they will keep falling until people start buying again but they won't hit 0 that's just stupid

Don't be ridiculous. There's going to be rows and rows of vacant properties, you can just walk into them and take them for free
joe_stalin518 2 weeks ago#25
They will keep lowering the prices til people start buying again, Canada is a good place to live.people want the house but can't afford over a million not everyone is a 30+ year surgeon , they will fall into around the 250 k-700 K depending on location, once it hits the spot where people making normal college salaries 60K-150 K the people will start buying again . If you want free property your going to have to take a piece of Detroit and deal with any/all bull shit that happens like poison water, dead body's in a striped car on blocks that was abandoned on your parcel of land arson if you have a dwelling on the parcel .
how does super mario world work without updates?
Relax I know what I'm doing,I been killing topics since 1987
averagejoel 2 weeks ago#26
if this housing crisis gets any worse, everyone will be able to afford a home!
peanut butter and dick
REMercsChamp 2 weeks ago#27
joe_stalin518 posted...
250 k-700 K

250k? Try 2.5k
Capn Circus 2 weeks ago#28
By browsing Google Street maps in Toronto for a bit, a lot of the houses don't really look all that impressive for an average of $1M. Not sure how average salaries are there. 

They should just sell their house and move to Texas, Louisiana, etc. $500,000 will get you a gorgeous new home. 3-4 bedrooms, brand new, nice neighborhood, etc.
"I think that man will be president right about the time when spaceships come down filled with dinosaurs in red capes" - Tom Hanks
Capn Circus 2 weeks ago#29
joe_stalin518 posted...
They will keep lowering the prices til people start buying again, Canada is a good place to live.people want the house but can't afford over a million not everyone is a 30+ year surgeon , they will fall into around the 250 k-700 K depending on location, once it hits the spot where people making normal college salaries 60K-150 K the people will start buying again . If you want free property your going to have to take a piece of Detroit and deal with any/all bull shit that happens like poison water, dead body's in a striped car on blocks that was abandoned on your parcel of land arson if you have a dwelling on the parcel .


Detroit. You can buy a house for 5k but it's completely trashed, you're the only one on the block, and the area is virtually unlivable. 

I'd like to see a reality show where someone transforms it into a secured fortress and attempts to live there.
"I think that man will be president right about the time when spaceships come down filled with dinosaurs in red capes" - Tom Hanks
FightingGames 2 weeks ago#30
Capn Circus posted...
By browsing Google Street maps in Toronto for a bit, a lot of the houses don't really look all that impressive for an average of $1M. Not sure how average salaries are there.

GTA has a growing tech industry with big companies like AMD, Sony, ASUS, and IBM established there. It's an attractive area for people to work and raise a family
#31
(message deleted)
Sir Will 1 week ago#32
joe_stalin518 posted...
They will keep lowering the prices til people start buying again, Canada is a good place to live.people want the house but can't afford over a million not everyone is a 30+ year surgeon , they will fall into around the 250 k-700 K depending on location, once it hits the spot where people making normal college salaries 60K-150 K the people will start buying again . If you want free property your going to have to take a piece of Detroit and deal with any/all bull shit that happens like poison water, dead body's in a striped car on blocks that was abandoned on your parcel of land arson if you have a dwelling on the parcel .

Stop taking what he says seriously.
River Song: Well, I was off to this gay gypsy bar mitzvah for the disabled when I thought 'Gosh, the Third Reich's a bit rubbish, I think i'll kill the Fuhrer'
SGT_Conti 1 week ago#33
FLUFFYGERM posted...
haha wow canada's economy really is tanking, eh?

What
Posted with GameRaven 3.2.2
SGT_Conti posted...
FLUFFYGERM posted...
haha wow canada's economy really is tanking, eh?

What

Hasn't the real estate market really been falling in Canada?
REMercsChamp 1 week ago#35
UnhndredDescole posted...
SGT_Conti posted...
FLUFFYGERM posted...
haha wow canada's economy really is tanking, eh?

What

Hasn't the real estate market really been falling in Canada?

Hell yeah it is! There are rows upon rows of empty vacant houses in Toronto being sold for under $100,000. The government is so desperate to get rid of these properties that they're actually giving you tax breaks and other incentives for buying them.
SGT_Conti 1 week ago#36
UnhndredDescole posted...
SGT_Conti posted... 
FLUFFYGERM posted... 
haha wow canada's economy really is tanking, eh?

What

Hasn't the real estate market really been falling in Canada?

Mostly in Vancouver and Toronto, but housing bubbles burst. The governments of those areas took steps to deliberately deflate it because an outright pop is painful for anyone who does own a house there. It's got little to do with Canada's economy, which has been improving over the past year.
Posted with GameRaven 3.2.2
(edited 1 week ago)reportquote
Darkman124 1 week ago#37
This is what I was talking about when I said these huge city bubbles are prone to popping once anything happens to cut investor/speculator interest down. Hadn't counted on government action intentionally popping it though.
And when the hourglass has run out, eternity asks you about only one thing: whether you have lived in despair or not.
Sir Will 1 week ago#38
SGT_Conti posted...
Mostly in Vancouver and Toronto, but housing bubbles burst. The government's of those areas took steps to deliberately deflate it because an outright pop is painful for anyone who does own a house there. It's got little to do with Canada's economy, which has been improving over the past year.

^ that
River Song: Well, I was off to this gay gypsy bar mitzvah for the disabled when I thought 'Gosh, the Third Reich's a bit rubbish, I think i'll kill the Fuhrer'
REMercsChamp 1 week ago#39
Anyone want to list their hauls here in the Toronto housing market? I just picked up 3 detached properties for $15,000
Making Canada great again
so ill wait another 3 years then get paid millions and a free house?

Deal ill even listen to drake 24/7
Ask me if I would eat da booty.
REMercsChamp 1 week ago#42
Letron_James posted...
so ill wait another 3 years then get paid millions and a free house?

Absolutely - they'll be begging you to take it. They'll pay you any amount of money to grab these unwanted properties.
#43
(message deleted)
Good, Toronto's housing situation is world famous for how shit it is.
SGT_Conti posted...
Mostly in Vancouver and Toronto, but housing bubbles burst. The governments of those areas took steps to deliberately deflate it because an outright pop is painful for anyone who does own a house there. It's got little to do with Canada's economy, which has been improving over the past year.

why is an outright pop painful for homeowners there
You're such a boring characterless entity. Try getting laid once in a while and maybe you'll have friends and find out what a "joke" is. - derrate
#46
(message deleted)
Canada
Housing is redicoulous in Toronto but I still wouldn't call it a bubble bursting just yet. The market is still correcting itself.
Clevo P775 QHD 120hz / i7 7700k 4.5GHZ / GTX 1070 8GB / DDR4 16GB/ 256gb m.2 SSD /Magni-Modi DAC_AMP combo/ ie800. Laptop on the outside. Desktop on the inside.
(edited 4 days ago)reportquote
SGT_Conti 4 days ago#49
Eh, it's not really the market correcting itself if it's being impacted by a foreign buyer tax. As I mentioned before, it's more of a deliberate deflation of a bubble by the government before it can burst.
Posted with GameRaven 3.3
(edited 4 days ago)reportquote
the_cajun88 4 days ago#50
  1. Boards
  2. Current Events
  3. Toronto Houses Are Losing Value At A Rate Of $100,000 A Month
    1. Boards
    2. Current Events
    3. Toronto Houses Are Losing Value At A Rate Of $100,000 A Month
    Yaridovich 4 days ago#51
    FLUFFYGERM posted...
    K181 posted... 
    An average single-family home in the city of Toronto went for $1.191 million in August, the city's real estate board reported Wednesday


    I think they'll be fine.


    $400,000 decreases in a matter of months means the bubble is popping


    Yeah you know, those slow-popping bubbles. Fucking hated when my mom got me slow pop bubbles as a kid. I'd blow one then have to wait like a half hour while it popped.
    Posted with GameRaven 3.3
    (edited 4 days ago)reportquote
    But Republicans told me Canadians have no money because of high taxes to pay for healthcare. How can they afford a million dollar house?
    Jake Peralta: World's Grossest Pervert
    NeonOctopus 4 days ago#53
    apocalyptic_4 posted...
    Good houses in the GTA area are $700'000 to over 2 million.

    It's been unaffordable to live in the area for years.

    Do more side missions or taxi missions and you'll get it
    Thanks Trudeau
    Some say that his voice can only be heard by cats, and that he has two sets of knees... all we know is, he's called the Stig.
    Mberer 2 days ago#55
    Tryhaptaward posted...
    Making Canada great again
    SubtletyRefuge 11 hours ago#56
    Is this related to the Sears closing down?
    Real subtle
    SGT_Conti 11 hours ago#57
    SubtletyRefuge posted...
    Is this related to the Sears closing down?

    You mean Bombardier?

    https://www.thebeaverton.com/2017/06/sears-canada-renames-bombardier-government-will-bail-bankruptcy/
    "I may not have gone where I intended to go, but I think I have ended up where I needed to be."
    Monolith1676 10 hours ago#58
    I thought Canada was supposed to be so great.
    Gears of War 1 Assassination Legend
    REMercsChamp 6 hours ago#59
    Today's haul - 6 detached properties in the nice area of the city for $6.99 and they came with a side of chicken mcnuggets
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    3. Toronto Houses Are Losing Value At A Rate Of $100,000 A Month