Investors own 50% of Toronto

[@FadiD86]

Kudos to you Jordon for always leading with data and facts, I think you're doing a better job educating people about the housing market than most of these sensational headlines

[@ninasethi]

I think the issue with the culture around investors is that "uncle jimmy" style buyers want gain with no risk. Lately with higher interest rates there have been a number of articles on major publications about "Woman Is Losing Money Every Month on Her 4 AirBnB Properties", as if we're supposed to feel bad for her. If I invest in stocks and the value goes down, I have to eat it. If I invest in starting my own business and it fails I have to eat it. But for some reason we are supposed to feel bad when a real estate investor is losing money every month. If they want to treat it like an investment, they should shut up and eat the losses without the government having to bail them out, or decrease interest rates for them. The culture around real estate investing in Canada for the last decade has been "there's no risk, just double your money", and now if reality is going to hit them then we should let it do so.

[@catregime]

Exactly

[@JoseLopez-hp5oo]

The problem is it's "too big to fail" at this point. The boomers all sitting in Florida having lifestyles subsidized by rent income will not allow for it.

[@alexocrypto]

Thanks homie....just gonna move to cottage country...this is rediculous

[@DavidCarroll-rl9bt]

Thank you for your indepth analysis. Living just north of Toronto, Schomberg Ontario. I’ve saved $300000, and am still unable to justify continuing living in Ontario. Looking at moving to New Brunswick, but it’s hard as I will have to leave my family, job etc. I just don’t see any other way of owning a house in this current climate.

[@Gillz34]

You can buy a house what are you talking about😭

[@azieltobias]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[@mellon-wrigley3]

I recently sold my home in the Boca Grande area and am considering investing a lump sum into the stock market before the anticipated rebound, couple of folks have been discussing a potential rally, speculating on which stocks may experience substantial growth during the festive season. Do you have any insight into which stocks these might be?

[@sloanmarriott5]

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[@Gallo-firestone]

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[@lilyhershey1]

​ *@donaldsimeon8606* Who is the professional who is advising you, if you could perhaps tell us? As a novice investing in stocks without the correct direction of a professional, I have lost a lot of money.

[@Gallo-firestone]

Renowned for her proficiency and expertise in the financial market, “Camille Alicia Garcia” my financial advisor, holds a broad understanding of portfolio diversification and is recognized as an authority in this domain.

[@furycorp]

Are you sure you can trust vacancy rate data for a market where vacancies are penalized (Vacancy Tax) vs. ones where they are not? Careful when spreadsheets and charts can blind you to differences in data and data quality. People have used computer vision to monitor buildings and traffic and units for signs of life and no surprise the observed reality vs. reported stats don't line up...

[@adama9032]

Great rebuttal

[@neilirvine7129]

It still wouldn't make a big difference. Falsely reporting vacancy would just be to dodge some tax. He's pointing out that rental cash income isn't covering cash expenses. Maybe you could save a little tax, but you would go from eating 38% of the carrying cost to 100% of the carrying cost... so this can't be a popular option.

[@allanellis5827]

As a custom home builder it disgusts me how much DCs have risen. The municipality I primarily build in has raised their various charges by over 300% in the last 13 years. The home buyer ultimately ends up paying for this municipal gouging. Add in taxes on material and labor costs and the various levels of government make more on a house than the builder.

[@Feedback4Utoday]

finally a guy w common sense - good on you. review of those comments shows the real issue, unwilling to take the risk.. then extremely hateful and upset ... jealous basically re risk-taker having a gain. Has to also be understood that the CoVid inflation was fully govt created - print moneydebt w known outcome of inflation.. etc Very good report

[@CanadianSon]

Great video. The problem is that most people look at the issue but fail to look at why, good job explaining why.

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How to start? How much money needed?

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[@Kathrinlindner-xi6lp]

Thank you for this. Will definitely reach out to her now. Thanks again

[@EEYore-py1bf]

It's not Uncle Jimmy, it's Uncle Jagmeet

[@daniel_foch]

It socializes the cost of affordable housing. Investor loses money so Chad can get a condo on King west for lower than the cost of ownership. Everyone wins

[@adama9032]

You should do a video on this an elaborate there is something here

[@adama9032]

You should do a video on this an elaborate there is something here

[@daniel_foch]

@@adama9032 I'll see if I can get Jordo to feature me

[@secretsofsax4740]

Excellent analysis as per usual, Jordon! 🎉🎉

[@vert911]

I would like to see a video of what led to you selling your company and the decline in business recently that brought you to that decision (or any other factors). What does "selling" your company mean, anyway? All your clients get referred to another agent?

[@user-by7ql5zs8u]

House is not an investment don't let the banks and governments get into your heads

[@huskavarnapunkband]

And realtors, builders say it also . Spend your money on Reno's, and you'll get it plus more back.. was only temporary..

[@Raygetto]

To be fair, investors in the classical sense would never buy a property with the EXPECTATION that it cash flows negative. Willingly going cashflow negative into perpetuity betting that price growth more than offsets their recurring losses is most certainly speculation. Imagine I suggested you buy stock in a company (could be a REIT fwiw) that lost money every month, and my "investment" thesis was simply that despite the negative earnings (that were expected to continue without end) that the share price would nonetheless go up. You (probably?) wouldn't be interested, am I right?

[@Rozbiynuk]

There are and were literally hundreds of companies with negative cashflow on the stock market, which were insanely popular (e.g Uber). So yeah, a lot of people will buy on the idea of potential future profitability. Markets (investors) for last 2 decades are absolutely irrational agents.

[@ASoundscapeofOurOwn]

Purpose built rentals also had rent control and many of these investors (who buy up condos) are corps too and finally, corps aren't as likely to be ignorant landlords.

[@BrandonSchleifer]

My problem with investors is they make terrible, stupid decisions then expect me to bail them out with my tax dollars. If investors are going to be allowed to buy at the expense of residence, then the government should not protect investors when things go bad. People hate investors because they make bad investments then steal taxpayer money to pay for them.

[@harshwalia6625]

thank you for sharing the knowledge!

[@acz88]

This is one of your best videos. Throwing jabs and all, love it 😂

[@jcorellana4568]

Genuine question: If there were measures in place to keep "Uncle Jimmy" investors out of the market 10-15 years ago (or at least to limit the number of units that that sort of investor could purchase in a given build), is it possible that prices would have climbed less rapidly, and the market wouldn't be as 'bubbly' today? I don't think people are angry with Jimmy because they don't understand basic supply and demand, and how without buyers, builders won't build. I think they're angry because they don't understand why so much of the pre-2020 supply (i.e. more affordable housing) was allowed to be snatched up by Uncle Jimmy when he already owned multiple units. Or why Uncle Jimmy today is the target demographic for these new builds. (Like, if investors rather than people looking for primary residences are the target market... isn't that the problem? Because potential builders obviously looked at what ol' Jimmy was willing to plunk down on his spec, so when that number kept going up because his previous "investments" were doing well, clearly he's played a part in the mess the city is in now?)

[@briankenney1433]

If uncle Jimmy was able to invest with other Ma and Pa into a purpose built tower there would have been more supply and less direct competition with a FTHB

[@AKATenn]

But what if the builders are also the buyers and sellers, or they're all in collusion, making behind the scenes deals with each other? Then the only incentive they would have is to keep demand as high as possible to keep the bubble inflated. What needs to happen is we need many single home buyers, no mass bulk buyers or speculative buyers... if that happens, then yes, your right. Supply and demand only works if there is enough supply to meet the demand.

[@Precondo]

100% - poor policies and incentives over a long period of time have led us here A big part of the issue is development financing. End-users largely aren't willing to take the risk of pre-construction that may or may not be ready in 5 years. They also don't have the advantage of 5-10% down with CMHC like resale provides. In NYC for example, it's not uncommon for a building to still have a lot of inventory when nearing completion or even after completion. It's uncommon in Toronto - because unless you can self finance the build, you can't break ground until you crack 70% sold. Unfortunately, there just aren't enough end-users who want pre-con specifically, and are willing to take the risk of pre-con, so the sales volume just isn't there to get most projects funded relying on that buying pool

[@jcorellana4568]

I'm not in the market for a condo, pre or post-con; I luckily own a home west of the GTA. However, I imagine the folks who are complaining would be willing to take the risk on pre-con units... just not at these ridiculous, inflated prices. Which, again, seems at least partially thanks to Jimmy (and his realtors) capitalizing on and commoditizing housing for decades. I don't understand how or why such investment-savvy people such as yourself couldn't just apply your knowledge to something less shortsighted, like stocks, startups, or virtually any other form of investment.@@Precondo

[@noodie75]

Very interesting video, London is cheap cause it sucks if you need that chart explained. Lol. I agree with the disenfranchisement bit too you would be pretty pissed off at the guy who won't pump you water cause it doesn't fit his margins. Which is where we are at, housing and shelter are a base human need and developers won't supply it if the don't make money. And people can't afford the prices needed to make housing. Therefore no affordable housing, Though let's not pretend that cutting DC's would make housing affordable in the short term, the market rate is set, and like you said the issue is supply. There are no "bad guys" it a complete failure of the system. It's 50 years of policy concentrated on maximizing ROE over everything else. The goal has been to create vehicles to afford high prices instead of making things affordable. And it worked till it didn't and here we are.

[@f87]

I like your data-driven observations. Keep going!

[@bayindir06]

Just keep the interest rates elevated 1 more year, then see how the prices tumble. Affordability and sustainability are the key factors, we will all be learning.

[@timeverson728]

Investors with the wef. They have a prediction that we will own nothing. Have you thought about the population growth and the decline in ownership? Blackstone is buying in Europe now heard foreign investors will be buying here they are all working together.

[@stephen-he4iw]

Difference is REITs build an entire building specifically for rentals and uncle Jimmy buys condos built for people to own as their principle residence. Canadians arent allowed to invest/specilate in whatever they want. Imagine you couldnt afford your viagra anymore because uncle jimmy and the rest of Canada started investing in prescription medication? Housing is arguably as important as prescription medication and should be on the list of "buy for personal consumption only".

[@neilirvine7129]

This doesn't make sense... The Uncle Jimmy example is someone buying a property (condo) to rent out - so they are not buying it for someone else to own... With the extremely low vacancy rate, no one (individual or corporate) is buying property to hold it off the market.

[@jsedge2473]

This is not even true and doesnt make sense, plenty of corps mass buy "regular" housing. Even though there is barely a difference between condos and apartments. Either can be a principle residence or rentals. In fact plenty of condos/townhome builds are built to rent out the same way you say aparment buildings are supposed to be. You are just arbitrarily labeling these things.

[@MentionBiscuit]

That’s not true there are blocks on Markham with several vacant detached homes on nice upwardly mobile streets that sit empty all year. Cash laundered or parked. They will happily pay vacant home tax and some don’t even live in the country. They need to get money out of China by any means necessary. You go and try to empty the same strategy as a non resident Canadian in Chinese re. They don’t allow it.

[@John577]

They are subsidizing the rental market by inflating the ownership market. Which is driving up rents!

[@stephenrasmussen8160]

This isn't the first time we've seen amateur "investors" pile into an asset class to get rich quick, and it won't be the last time. When the market shifts you'll see them head for the exits, could be beginning now.

[@jsedge2473]

Amateur investors arent mass buying housing. Theyll buy an extra house or two. And where is the market shifting? People have been saying this for years now, and yet even with rates as high as theyll be, housing continues to INCREASE. When rates come down, pries are going to explode again. Nothing is being built, yet governments continue allowing mass immigration, continue allowing foreign investment, continue allow mass corporate investment. There is no supply, but enormous artificial demand.

[@looldrole]

I like your perspective, thanks! Regarding slide at 10:23, how about purpose rental building ? Is there an aggregate decrease or some kind of substitution?

[@Precondo]

first 3Q of 2023 show 2900 PBR starts in GTA, roughly half 2021/22 iirc

[@thecanadian8719]

Money laundering. It doesn't matter if the condo has a tenant.

[@NickBedard]

This

[@Corythehausbaus]

Sounds like it’s not the best time to buy investment condos properties these days

[@freemindcanada9319]

It is speculation. You can't compare people that rent an apartment building vs people renting a condo, 2 completely different consumer types. And yes, speculation would impact the cost of running that property for a mom and pop vs a corporation that owns a rental apartment building or complex. Mom and Pops own condos which are high end and fancy vs apartment buildings are usually very very basic. You are probably too young to remember what Toronto was like before the condo boom back in the 80's and 90's.

[@Kaygee79]

The cost of living is going to continue to go up up up. Not enough being built, government still brining in lots of immigration, supply and demand, simple math, it's crazy. And if they start dropping interest rates, the cost is going to take off again. That's what I can see happening based off these factors. Great video with information that all makes sense.

[@rdanalytics9197]

The problem with “mom and pop” landlords is that these assholes can jack the rent up 50% in a year and have you evicted at any time if they sell the property. If you live in an actual apartment building, they can only raise the rent by 2% and have to have probable cause for evicting tenants.

[@bullgrand]

As govt gets a lot of money as development charges, where do u see economy heading when this revenue (of govt) comes down

[@msveevee07]

Actually historically purpose-built rentals are no longer stable either as the properties are being sold, demolished and condos put in their place, hundreds of renters displaced in the meantime, and the city has been approving these applications

[@jooky87]

Good data review!

[@adrianhutchinson5467]

Rentals do have different capital sources, up to and including government lands… and we don’t build purpose built rentals like we build luxury condos. Currently a renter is subsidizing the end user/ investors marble countertops and hardwood floors. 😂 and purpose built rentals save the gst now. Not saying investors aren’t a part of the solution but this narrative they are ACTUALLY the victims/ the most ethical players in the game is false, and many are in for a tough lesson when the bubble finally pops.

[@ruthpicknell224]

Purpose built apartments need to seriously make a come back and have the manager on site to maintain the property!

[@CalCalCal6996]

Most were built by cmhc and sold at cost to pension funds and other long term investors. They do not do that anymore, they are now only focused on the M and not the H in CMHC.

[@jchong416]

If anyone is the greedy party it's the government. What do they do other than put their hand out and blame others for the high cost of housing?

[@Rflows100]

That line will get old soon afterall who pays for them?

[@jonathankr]

Ignoring purpose built co-ops? In 25 years when the mortgage is paid off, their low rent cost impacts the market and drops rental prices atb.

[@yosebv]

Great insights, would you ever be interested in doing a breakdown of Vancouver's RE market?

[@acz88]

Just take this analysis and add like 10%-20% to the numbers and you got Vancouver market 😂

[@huskavarnapunkband]

Toss in gang money launderers and CCP make up 45% of west van homes.

[@sheldrake1111]

4:16 That vacancy rate chart is from 2016. What is it in 2023?

[@acz88]

Even lower. I own rentals in Hamilton every time I put up a unit for rent I get 20-50 messages a day just on FB marketplace. Some people are so desperate the stories they share is just heartbreaking.

[@Precondo]

Q3 2023 vacancy is 1.2% in Toronto (and 3.1 in NYC, if wanting same comparison)

[@Lifeisapartydresslikeit]

Same! If I list my rental on kijiji for my basement apartment I take down the ad in 7 days. I will have at a minimum 90 responses and it’s overwhelming. There’s a lot of young adults who don’t want to live with mom and dad. Lots of students, new immigrants, single people who are divorced and people living on ODSP/Ontario Works. Some people on this platform need to be a landlord to understand the demand out there

[@adama9032]

The problem with jordan an all the toronto property focused gta channel's is most grew up in the madness an built their careers in it. Also are greatly effected by any pessimistic or catastrophic outcomes whether its due to colleagues or personal networks everyone is attached to this market. So there is a clear conflict of interest in the analysis and unless you can fully subtract yourself out of the gta property market you'll just not be able to give advice or analysis that's not conflicted from the reasons above. To bad because I see in this coming down turn an opportunity for an insider like you in Toronto real estate who has fully disengaged from the market to give more unconflictes genuine sober analysis an gain massive youtube success in building a channel from it. Because in all these podcast they are industry insiders that are obviously conflicted.

[@Rflows100]

Yes it's a reason why many things spoken may fly over people's heads as there's nothing substantial to use in overcoming these market conditions. Very vague and so much dancing around the fact that there is profitability in inflating house prices every year and If possible, every month. Probably because deep down they know that it is a predatory practice but they cant seem to help themself as they have (intentionally or unintentionally) limited their capacity for wholesome knowledge. It's pretty sad to be in such a position where your going the extra mile to inform people but unfortunately to their own detriment. Hence it would be better that they didn't inform them at all in such a situation. In other words doing more harm then good. It's as if they instinctively know that they have to pump the market in order to maintain validity in such predatory practices. They may even see it as 'doing their part' for the realty speculators cause. A truly delusional effort for a truly delusional outcome. Notice now how some of these realty agents and investors who come out with videos tend to address the peoples issue with investors but fail to go to the root. It's almost as if they are trying to pander and not come across as the 'bad guy' but at the same time maintain their current predatory position so as to gain more approval. However that time is soon to pass for it has all been found out. Such practices can no longer be continued for they attempt to legitimize greed as a justification in displacing many people out of real opportunities

[@BlagoP]

In this case percentages are meaningless. If a government tax goes up from say $1 per sq ft to $10 per sq ft that's a 900% increase, "oh shit, that's huge", but it's not, it's only a $9 per sq ft increase. But if a broker's fee goes up from $50 per sq ft to $100 per sq foot, it's "only 100%" right? Wrong, it's $50 per sq ft which is a massive increase. The point is is that brokers have to disappears. Get rid of the middle man. The builder should be selling directly to the buyer.

[@Precondo]

Except the government fees represent over 20% of the total cost and the broker fees less than 5% of total cost lmao

[@BlagoP]

@@Precondo Break those "fees" down for us, slick. "Fees" is something different than taxes. A lot of things can be thrown into the word "fees'. And my point still stands. Builders need to be selling directly to buyers. On top of that, the whole "lower margins" statement is another useless point because their profits have increased. Margins are meaningless, it's all about profits. But hey, it looks better when it's worded as "lower margins", right?

[@Precondo]

@@BlagoP ive broken them down in more than one video lol

[@toast-cj]

I think we are missing the point when we say investors aren't buying up enough pre-sales to hit the 70% mark. The root of the problem is that these developments need to happen regardless of whether its profitable for investors, housing should be treated as a public good not a business. We don't suddenly stop building roads and infrastructure because its not profitable we keep doing it in hopes that it helps out communities and we can recoup the benefits from a healthy society in the long run

[@danhworth100]

What about if government got into building non market housing. That’s the best idea I’ve heard. Housing as infrastructure. You build it because it’s needed.

[@Rflows100]

Nah that's socialism. Building must always be supplied by the market. If not your happily walking into communism. Canada is already socialist in many ways, and how has that worked out so far? And do not say that it is not socialist because if it wasn't you wouldn't have to pay taxes. Always remember there's only one Government of significance and that is the Government of The Creator, King Yeshua, the source of Life itself whose ways are eternal in nature, whose insurance is unmatched, whose healing is wholesome. There's no better Governor other than Him who reigns supreme, Yeshua.

[@howy3333]

I had such good timing for developing....

[@dougiep2769]

I think you missed the word “bad” in that head line

[@howy3333]

Very interesting. There are other benefits with building rental in that CMHC will let the builder pull money out FYI but great info as always...

[@winchangkou]

Hey Jordan, is it to the developers advantage if they sold 100 percent of the units , to built it as quickly as possible at the present time where they could suspect that not purchasers cone cone up with the mortgage this high or it would not affect the builders, your input please?!! 🙏

[@paulshealthfitness7922]

Where do you find the latest stats for rental market inventory?

[@Precondo]

TRREB

[@jessek8114]

Just build more. Simple as that. Free up zoning, fuck all the borough council, and build more housing and multiplexes. NIMBYism is the root of all of this problem. Plus, equalize the tax treatment between all other assets and housing. Either impose cap gain tax on primary home sales or remove cap on other asset sales.

[@lcbrianyuen]

mom&pop investors unlike corporate, for holding power therefore less tendency to mitigate risks. A larger pool of corporate investors are more awared of the risks involved in the long term investment. Housing market in low interest rates environment created a mentality that its a better than a term deposit account ' safe '.

[@catregime]

But then they get upset when renters don’t want to pay THEIR mortgages lol…bc we want to pay our own mortgages, not yours!

[@angelawood2978]

Did you actually watch the video? Did you get to the part about government fees/taxes/charges?

[@Japanese_king]

It's my unit, my rules, and I'll set the price. If someone can't afford it, not my problem at all. Just simply stay away and find what you can afford, no one is forcing anyone😊

[@acz88]

Here we go with the mental gymnastics lol

[@jsedge2473]

Then go pay your own mortgage lol. Who CHOSE to move into a rental that they couldn't afford? Sounds like you did. This is like going into a store and shouting "I dont want to buy YOUR clothes I want to by MY clothes" Uhhh... Okay then leave the store? 😂

[@shauncameron8390]

You're free to go find a bank willing to grant you a mortgage.

[@vert911]

just because someone wants or needs something to happen, doesn't mean its going to happen. For most people, the opposite will happen. GTA prices going to the moon. Outside GTA will see massive COVID era correction.

[@Rflows100]

Doesn't mean it's not gonna happen either. Thus you are merely just promoting your position. It's pathetic really. There's a reason why greed is destructive in nature. Always remember Yeshua reigns supreme!

[@research1747]

Great Job - Thank You !

[@EricAlHarb]

The issue is condos aren’t regulated like purpose built rentals

[@CityEstates]

Toronto “investors” - guy with a detached and a HELOC.

[@Precondo]

certainly inefficient

[@lundion]

Those guys have been killin it for years

[@jchong416]

How dare you try to get ahead or even dream of better

[@CalCalCal6996]

We're going to experience a rout of these investors unlike anything we've seen since 1930. The coupling of a deep recession coupled with government scrambling to demonize someone is going to be a potent mix that could spell disaster for small time landlords.

[@MentionBiscuit]

Hahahaha!!

[@EricAlHarb]

Developers will eventually bite the bullet and list for way way way less

[@jeffreyl2598]

Yup because they have operational cost. If they lay off all staff then their company will go under. So these developers will keep lowering profit to "breakeven" when the canadian economy tanks hard!

[@Precondo]

@@jeffreyl2598 the unfortunate reality is current pre-con prices are already priced for perfection (12.5-15% profit margin). There's not much room. They'll just cancel the sites, or receivership, as we're already seeing tons of

[@EricAlHarb]

@@Precondo let’s see how that works in the long run.

[@adrianhutchinson5467]

Disingenuous to say that condo investors are ‘subsidizing’ the housing market as anyone buying an extra condo through a mortgage isn’t actually using their ‘hard earned money’ to buy the condo they are in fact speculating that the price will go up indefinitely (even when prices are already totally untethered to incomes). Most are using cash to buy them and therefor are making a healthy profit. Not sure if your just coping as you are worried your own speculative investments are at risk during this inevitable bubble burst but don’t appreciate the easily identifiable fib.

[@howy3333]

I think Q sold 80%% on the waterfront. It will be interesting to see how bellwoods sells.. I still think that theyll sell enough

[@dougiep2769]

Bad investors own half of Toronto. Why everyone is leaving. International gang run disaster

[@louismartin4446]

Excellent vid….bottom line..if we do not get rid of the socialist cancer (growing liberal/socialist politicians), housing will not increase and prices will NOT go down but go up. As always, less government is better for society and capitalism raises the water to allow everyone’s boat to float.

[@JR_55591]

People need to stop investing in housing. One house per family is enough! When you buy more houses you force families into the streets. I hope you guys realize this. What goes around comes around. Its Karma!

[@Precondo]

your premise only works if we assume you leave the second home you purchase vacant, which almost nobody does

[@research1747]

In order to understand what happened you need to go back and track when rent control and rental condo conversion - when the city stopped conversion of rental buildings to condominiums - this caused todays problems - the people that screamed about rent control and apartment conversions created this problem !

[@braden4526]

Interesting video. I'd like to see how that co-relates to the fact that, up until 2019 when we left the city, we could see many empty condos from our condo at Yonge & Gloucester. Obviously these were investor owned with the intent to either flip them or rent them at exorbitant rates. I can't imagine that much has changed since then.... other than what the owners feel that they can charge for rent

[@jeffotoole4509]

All the action in Toronto might as well be summed up by the condo market. The houses are what people live in the condos are the ones they speculate in. Toronto really is a very sick animal. If you look at China they have basically 3 condo units for every family that lives in the country. They literally have 3x what they really need. What happens there? The normal person can’t buy a home!!!! This is to a part what happens in Toronto. What is happening in China right now. Home prices are in free fall. Those people that were locked out what’s going on with them? They ain’t buying. Solution drop interest rates. The Chinese have already done that. Why do we have boom bust cycles? Human speculative emotion. You always have a boom and a bust. Canada will follow.

[@ILoveTinfoilHats]

China has a net migration that is a higher magnitude negative than Canada's is positive. That's a difference of about half a million a year between the two countries. Sports cars to minivans.

[@jeffotoole4509]

@@ILoveTinfoilHats why does everyone bank all their hopes and dreams on migrants? The migrants right now are living in tents down by the river!!! These migrants are not buying 700k condos. Am I the only one that gets this??? The amount of lessons that are going to be learned will be spectacular

[@sebastienl-ricard1475]

​@@ILoveTinfoilHatsChina's birth rate was 1.16% in 2021 and urbanization as a percentage of total population of 1.1 %. Meanwhile Canada had an urbanization rate of 0.11% and a birth rate of 1.44%.

[@GreenBeanGreenBean]

You sure love being wrong 100% of the time, all day every day. Condos are barely priced above construction value. Houses are priced at a spread of 500k-1 mil over a condo and it sure doesn't cost that much to build a house....especially when most house builders cut corners like a mofo. Is there a thing you have EVER been right on, over your 10000+ posts on every real estate channel board...........NOPE.

[@acz88]

We have boom and bust cycles because of the Federal Reserve 😊

[@mrwarbucks9717]

Investor's 😂 more like speculaters and degenerate gambler's

[@IloveTide1997]

How many are immigrants?