Toronto's Condo Market is ruthless

[@Ballesteros-d]

I’m 53 and have about $225k liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at dividend paying stocks instead?

[@cortez9978]

after studying the trajectory of great assets like real estate, dividend paying stocks and gold, my conclusion is to buy and invest in what you can afford today! working with a financial advisor can certainly help

[@Marquis-9]

Agreed, I'm in line with having an advisor oversee my day-to-day investing, cos my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio is well diversified and has just 5X in 5 years, summing up nearly $1m as of today.

[@Curran-m-i]

@@Marquis-9 I've worked in real estate for over 25 years and have neglected a major stock portfolio, however I need a different plan now.. mind if I look up the professional guiding you please?

[@Marquis-9]

I'm cautious about giving specific recommendations as everyone's situation varies. Consider independent financial advisors like "SOPHIA VERDEKAL O'NEAL" I've worked with her since the pandemic and highly recommend her. You can check if she meets your criteria.

[@SandraJ.Aleman]

excellent share, curiously inputted sophia verdekal o'neal on the web, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal

[@RandyColby-mj1zm]

Toronto's real estate market has been wild, especially with condos. The demand is so high, and it feels like there's no end in sight

[@cherylhills3227]

But, in a way, it’s not all bad news, especially if you’re already in the market or planning to invest

[@CarlAcevedo-sc3bl]

That’s true. If you’re already a condo owner, it’s great because the value of your property keeps increasing. But for someone trying to get into the market, it's pretty brutal.

[@sebastiaanthijn7982]

It feels like no matter how much you save, the prices keep climbing faster

[@LoydJohnson-kp3jv]

Yeah, it’s definitely challenging for first-time buyers, no doubt about that. But even though the market feels ruthless, there are some positives.

[@AliciaCrone]

The condo market in Toronto is seen as a relatively safe long-term investment, and with immigration, job growth, and more people wanting to live in the city, there’s always going to be demand

[@xdata3267]

Love your videos, I’m a renter downtown still. I burst out laughing at the cease and desist bit 😂

[@LoganGabriel6m]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich.

[@LincolnFelix-s4z]

I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts with experience since the 08' crash

[@GraysonNathan-v8y]

The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.

[@AbigailOliviaq4l]

i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well.

[@GraysonNathan-v8y]

NICOLE ANASTASIA PLUMLEE' is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@AbigailOliviaq4l]

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@ronmortgageguy]

"Whatever the opposite of a Sales Video is" absolutely the best line on KZbin today

[@NavZ3]

@ronmortgageguy - you should do a rant video with Jordon!

[@jay1645]

Stats Can. unemp. nos today 7 yr high lol but still no Minsky moment

[@bblah1]

I am here for every episode of the upcoming series about any cease-and-desisters!

[@jellybeansi]

Starsky & Hutch "do it" intensifies.

[@Kevin-nm9jh]

I really want that series now!

[@austinbar]

I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?

[@rogerwheelers4322]

Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

[@joshbarney114]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@FabioOdelega876]

Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.

[@joshbarney114]

‘’Marisa Michelle Litwinsky’’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@FabioOdelega876]

Thank you for this tip , I must say Marisa, appears to be quite knowledgeable. After coming across her webpage, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

[@magicarcher101]

@ 2:03 I actually laughed out loud 🤣🤣🤣 Im ready for the 12 part series fr

[@rajastylez]

Dude I love your work especially the refreshing honesty. Keep it up!

[@Ban00]

I subscribed the moment i heard they send you cease and desist letters. It means you're doing something right and shining light on the ugly. Keep going and telling the truth!

[@metatrongroove2824]

GOOD. Sick of the corruption and overpricing.

[@bman1990]

Corruption in Canada has become an accepted daily occurrence.

[@garethseltzer1405]

New to this channel - and am hugely impressed. You call it as you see it, and you’re loaded with salient data. Perhaps the best channel following the Toronto condo market, trends, spaghetti lines, interest rates, rentals and their momentum or lack of. Fantastic channel.

[@Precondo]

@@garethseltzer1405 🙏🏼 thank you

[@derick3482]

@@Precondo would you say it's just a phase? it might pick up again?

[@DiggyT]

The 300k condo dream is coming back

[@tfortube]

Little lower would be nice 150-200

[@jay1645]

@@tfortube No one can predict the severity of a crash lol but Can. real estate primarily due to external money laundering Chinese and the rest broke records in median wage to price esp during that CV blowout. Now lets see .. as Chinese laundering has come to a standstill but we have a lot from the Asian sub continent who are here

[@fanzhang5568]

300k is never coming back in Toronto. Cost escalation in material, labour cost plus shortage and escalation in city charges means no one can build that cheap even land is free. The crash means new build condo is going back to 1,000-1,100 per sf range. 500k for small one bed instead of 600k at peak condo. What will change is we are gonna see less shoebox shitty condo, but bigger and more liveable condos at the near peak condo price. People are still buying condos at 700k for one bedroom but those are large units with liveable space.

[@jz12390]

@@fanzhang5568 I bet it will.. But the government will have to let it happen

[@MrDracula0000]

bro a kitchen by itself cost 30-40 k lol

[@timventuri6670]

2 minute mark, my man is a savage. Much respect for calling them out Jordon.

[@playbak]

251 Jarvis is a gem, got Fillies for their backyard, crackheads hustlin and a starbucks. What's not to love!

[@jay1645]

you mean need to get paid to live there lol

[@wnose]

Pitch to foreign investor: And 251 Jarvis is located only a block from Moss Park, one of Toronto's largest parks

[@jay1645]

@@wnose Closer to Allan Gardens lol

[@charlie996]

I like your honesty. There hasn't been a good precon deal for investors in a long while IMO and it's very apparent now. End user focused units are what buyers want. Developers - build quality homes (ie, as you said boutique condos). Real estate investors - buy a fixer upper, renovate, and rent out or flip them. Either way a quality home is enjoyed by it's occupants.

[@JaBlanche]

On the precon discussion. There needs to be an incentive to buy precon. Paying 30% over resale is not going to work when sales teams can no longer say "the value will increase once the property closes". That's all bullshit now. So where's the incentive? Previously the incentive was that you got a discount off of resale. 20%+ you just had to wait and then your investment would be worth more at closing. That's why I used to buy precon and shy away from resale. Not anymore.

[@earthwormjim6962]

A lease of a 1+den tiny sub 700 sqft condo for $3300 is mind boggling.

[@jay1645]

How long will it take for more people to realize that TO is not worth the cost unless it's say for a Can. passport etc lol

[@LockdownSecurity]

​@@jay1645lol the Canadian passport value will be the focus of the next "unhinged" chart, as in it has as much value as toilet paper. Honestly the new version less than toilet paper, as it's partially hard plastic (hard to wipe with hard plastic)

[@jay1645]

@@LockdownSecurity For most new folks coming here it's probably the only thing left but a lot are taking a harder look

[@MM-pu2ho]

I really enjoy your videos as you back your statements with data. There are other issues with precon. First of all the agreements have so many additional costs on closing that can easily add over 6 % of cost. Such things as increases in development charges, Sec 37, education levies, parkland dedication fees, Tarion, meter installation, admin fees and even PDI fees! They even charge an additional year of property taxes which they inflate above the actual cost. Then add insult to injury builders can provide occupancy of a unit that even is not liveable and does not conform to the Ontario Building Code. In other words they pass the costs to the purchaser yet the unit cannot be lived in. I have been buying precon for almost 2 decades and I have had it. Governments, Federal, Provincial and the City of Toronto just dont get it and trying to get issues addressed through the complex bureaucracy is impossible. Even the Ontario Home Builders Association does not even address issues. Its easier to buy resale.

[@ezDREAD1]

This is the most honest guy in real estate.

[@rdefacendis]

Existing owners in Toronto would have to come to terms with a very large property tax increase if development charges are scaled back in any material way. Municipal politicians are cowards. They don't want to raise taxes to the level that the city can actually cover its expenses without demanding ridiculous development charges on new builds (which is on top of the city land transfer taxes). It will be interesting to see the extent to which TO finances significantly deteriorate in the next budget cycle. RE sales and new construction activity is WAY down, which will lead to significant shortfalls in development and land transfer tax revenue. The worst is yet to come. Forget the exploding population narrative.. you are looking at growth figures in the rear view mirror. Foreign studies have been drastically cut in Ontario.. 50%... foreign worker allocations are now being slashed and the govt is revisiting the more mainstream immigration target of 500,000... I can see that coming down below 400,000... so that upward sloping curve you showed on your video is going to bend downward significantly in the first 6 months of 2025. Both supply and demand is going to dry up....

[@Ste_louis]

Yupp, existing homeowners in Toronto have had their existence subsidized by development charges on new housing projects. Heaven forbid they pay their fair share in property taxes

[@BoogieBoogsForever]

They could actually tax the corporations. I agree the governments are cowards for not doing this.

[@roupenohanian5652]

I like how detailed his videos are 👍

[@user-hj2wh2rz7e]

251 Jarvis St used to be a werid hotel weird vibe day and night. And one day just gone, I past that intersection for years back when I lived in DT.

[@IAMDEH]

Toronto apartments are crazy. Buildings are empty, but they're literally asking on average for $2400/month to rent a 1 bedroom apartment. The buildings are empty lol

[@BlagoP]

Because that's what they need to cover the mortgage, tax and maintenance payments, and they refuse to rent it for less. We'll see how long they can keep it up.

[@ImyManzProductions]

Curious as to how long they can hold out. Every month going by is 2k+ not collected.

[@yohh-hj1lf]

2:22 interviewing actually sounds like a great content.

[@adamli1904]

25% decrease is actually pretty good. Look at the new Zealand index. XLB is down about 30% from its height. TLT is down over 35% from peak. Toronto condos (not prebuilds) held up pretty well. Right now the market is pricing in about 8 cuts by the BOC and thats only to cut it to neutral. If unemployment keeps rising at the speed it does more aggressive cuts probably are needed. I wouldn't sell at a discount either if I was a condo developer.

[@petez2610]

“251 is a scary place to deliver food, let alone live there”

[@Paul-qg3iw]

Your context is superb - bordering on public service. Watched from London Eng;)

[@dealman3312]

I had so many people register for a Collingwood project. Constantly calling. Then the project was scrapped. Spent decades up here. It’s still very waspy. Lamb is re purposing the grain elevator to hotel/condo. The current challenge is waste water plant can’t handle the new development and is being upgraded, hence building permits will trickle

[@Precondo]

@@dealman3312 collingwood quay is launching right now finally

[@tradingwithcertainty4738]

God like analysis and commentary! Respect for speaking the truth.

[@jay1645]

Looks like sellers still getting lucky and finding buyers , needs another 50% crash and burn lol .. that studio in Jarvis for 410K overpriced and not worth more than 175-200K lol

[@tarawang5466]

Good luck. The replacement costs of a 400 square feet condo at $1,100 pdf, $440,000 is the floor. Unless we go back to the times when minimum wage is $6.75, $400k is the absolute floor.

[@sharinglungs3226]

@@tarawang5466in market crashes you can go below replacement costs. I don’t see 90’s prices coming back as that’s just absurd but we could see them in inflation adjusted dollars. I don’t see that happening as we would be in a depression.

[@jay1645]

@@tarawang5466 In '08 had bought a place for $250 in the US off Detroit MI and sold it for 135K 4 yrs later so all depends on the severity of the crash which no one can predict lol ! FL had condos with 1 resident rest were bankrupt etc lol

[@mohammadhoseinabbasi9993]

if you buy a condo for a $1m and sell it for a $1m it was not a neutral purchase! it was a HUGE loss! 1- You lost 5% of your money to your agent. 2- You lost the difference between monthly rent and mortgage payments which you could invest and get a return off. 3- You lost the return you could have made by investing the downpayment in something else. 4- All the legal fees, maintenance, condo fees, etc. are all losses as well which could have been investments in something else!

[@Pingers_]

How are the pre-con price evaluations being determined? I assume a lot of the value, if not all the value in purchasing a pre-con has disappeared because of the over-estimated appraisal? Either way, great video as always, appreciate the in-depth explanations

[@jasonlarry123]

Can you PLEASE make a video on buildings where you got defamation letters for? Companies need to understand this is a consumer market...if your product is shit, do better. great video btw

[@CritCommanda]

343 square feet? What if someone has possessions, where do they put it? Do you have to choose between having a bed and having a table? Or is this channel strictly about the investment side, further perpetuating the problem?

[@djgrows7962]

Bro I just subbed for that cease and desist part i love you lol

[@charlesstuart8313]

Insightful. Regarding rates. Historically, declining rates are a disincentive to buy. Stable and slightly increasing rates motive buyers off the sidelines.

[@tylermadigan447]

Me and my partner are looking to buy our first place, prices have come down a bit and with interest coming down so we're looking at getting into a town house. whats your opinion on buy condo vs town home as a first place and later resell value? just subscribed love seeing someone tell it how it is

[@matthewhurst307]

If investor-focused preconstruction isn't selling do you think there will be an increase in end-user-focused developments in downtown Toronto?

[@MeriamG-hc8wy]

Youre the best. Keep the great content coming!

[@rzmk8620]

Market already crashed. 30% Pricing already down in many markets. Media wouldn’t use that word because they invest in real estate as well via many ways.

[@user-le2hu1ct4t]

There are also two things almost no one ever adjusts for, inflation and population. When you can get 4%+ in a cash money account, your nominally flat RE price isn't flat, and sales numbers already look terrible but adjusted for population they are downright apocalyptic.

[@Ste_louis]

Here for the eventual docuseries

[@javiersantos4385]

Best source of information

[@BotBot-y5c]

Those who will buy a detached home have to sell their condo first. Only 2%-3% of condos are selling. Therefore detached home prices is linked with high degree to condo market. They are not separate. Even if investors want to buy detached home, they have to sell their condo first. Condo prices will go down considerably before detached home markets picks up. You can't build fourplex anywhere in Toronto and good luck having this approved so real estate investors are not jumping into this business adventure. Real estate investor will not jump in the detached market because prices are not going to grow like crazy in the next 5 years so they won't get great return on their investments and they can't rent the house because many condos are going to be listed for rent for cheap monthly amount.

[@lawrenceweston922]

Good points!! Never thought about it that way

[@djsouf5604]

Mortgage assumes a 20% down payment at 1:44 just fyi ( about 84k cash)

[@jj-ry8xv]

what do you think of the toy factory in liberty village? do you think it is a good building and management? thx in advance!

[@jooky87]

30% are $1k cash flow negative per month!?

[@AdrianoDiPasquale]

Hey brother. I used to live in 580 Kingston road. They are ran by first service management. I would love to chat a bit about them. I have never seen such corruption

[@MH_Bikes]

Condos are the canary in the coal mine. Nobody wants to live in 330sqft shoebox.

[@aghaaliraza87]

LOL cease and desist comment!! I almost want you to get one to enjoy a full series dedicated to a terribly designed building.

[@lw1379]

What about the resale market?

[@Neoscarface6342]

Excuse me but studios at 400k?! That is insanely overvalued

[@torontovo]

Hey Jordan, could you do a video navigating the assignment market what to look for when it comes to purchasing ?

[@MommaKnowsBestest]

Love the honesty

[@throwawayanon]

Can we expect luxury condo market($2m+) to take a big hit as well?

[@jay1645]

They already have but their owners can sit on it for longer also

[@JustMe-kt7xj]

Interesting video. One point is that I think is relevant is those units that closed in 2020 where only 40% were negative cash flow have probably spike to 80% plus being negative cash flow if they were in variable rate mortgages. People be HODL now. 😂😂😂

[@fredwinslow744]

got to respect your takedown of the ceaseand desist letters !! those are the people who have given power would control free speech. None of us likes to be criticized, but this is the point of a free market and free speech ✌🏽✌🏽

[@wabdih]

lol the rant at 2:00 was great

[@StevenLeTa]

looking forward to getting more thoughts from you!

[@Andsegs]

2:00 to 2:20 lol! Subscribed

[@WeZoomin]

I think what scares the buyers are the maintenance fees are rapidly rising in every single condo. Buyers can buy it but keeping it becomes a flip coin.

[@hd7704]

I really appreciate your excellent information and analysis. However, as an American, I have to disagree with the idea that Canada's GDP compares unfavorably. US GDP is the most inflated, distorted, and illusory in the world.

[@JamesSmith-yb2vi]

Right spot on. Thank you SIR! 700k for a rat box, nope Merci, I do not buy that.

[@bluedragon266]

bro you're savage, i love it

[@kwang10]

What is the cash flow definition in your video ?

[@neilbertram1922]

Great video. I missed you, man 🙂

[@JoseLopez-hp5oo]

Rates may come down ,however I expect property taxes and condo fees to take drastic jumps as engineering studies are updated with new cost of repairs. Cities are getting clapped as costs increase.

[@infillvaluecreation]

posted a long boring diatribe elsewhere about how I was building at 165$ a foot for semi detached homes, in 2018, just to survive while these presale deals were 10X my cost for a condo with no land and people lined up to buy.

[@tarawang5466]

Why do we automatically assume investors put 20% down and say the investment is CF negative? How do we know?

[@VersaceSuite]

The cost to carry the 80 percent is higher than the rent. It's been this way for over 5 years in Toronto condo market. In the past however investors would be willing to lose cash flow every month since the units would appreciate in value every year. But last few years no appreciation means no equity growth to go with cash flow loss. It's not a debate that condos are cash flow negative. The only folks who make cash flow are investors who pay in cash for property. And if you pay half a million in investment and it's not going up in value you nay no want to do that anymore lol it's going down now

[@jay1645]

@@VersaceSuite the smartest or luckiest folks in the room are the ones who sold during the CV blowout top .. know a few and are not coming back anytime soon lol. All waiting for the Minsky moment lol

[@tarawang5466]

@@VersaceSuite you make the assumption that everyone put 20% down but why? And what about the ones who purchased in 2010, 2015, 2017…how are they CF negative? Yes, there are a few people who bought in 2022 and does not have the financial strength but these are isolated cases, not the market norm.

[@robertross8565]

Excellent analysis. Do you know someone who can do a similar analysis in the Vancouver market?

[@makobrkic1988]

They should also update the zoning. and fast-forward all approvals. If we need 4 years just to get a new zoning, construction will be expensive!

[@AlekseiPerepelitsa]

condos should always be cheaper than townhouses. Not always the case in the GTA, but I am hopeful it will change.

[@jooky87]

Development costs pay for the infrastructure to service the building and take all the shit coming out of the building into the sewage system, you can’t cut it

[@Precondo]

the DC's in Toronto are double and triple Chicagos/NYCs on a % basis of unit cost. Do sewers cost more here? Why?

[@jooky87]

@@Precondo yes because people in TO take bigger dumps

[@Ste_louis]

@@Precondo ... because property taxes are 3x in Chicago? I'm a bit confused. Do you not know that development charges are this high because they're subsidizing our absurdely low property taxes?

[@Precondo]

@@Ste_louis im very well aware of that and have spoken about it in a lot of videos. Excessively taxing new supply (that would eventually create the recurring prop tax revenue) makes little sense imo

[@BoogieBoogsForever]

I have no sympathy for the speculators. I hope it falls through and one day regular people can afford a reasonable non-shoe box again.

[@youtubeuse2024]

Hi could you please advise people not to buy/ rent in I CE. The elevators are constantly broken and hot water is frequently non existent.

[@roadmap999]

I think the 15% profit is a bit light. They are targeting a 20-25% return on these projects.

[@firewoodlake]

Cloverdale mall is is actually a great area. You can buy one there for 500,099$ for like a 900 square foot.

[@JaBlanche]

Dundas Square Condos is crap but was priced very cheaply when it launched. I have nothing good to say about this building. There are many Dundas Square condos out there too. I could go for days...but I own in some of them so I can't talk too candidly 🙂

[@Precondo]

people did very well on it & in its defence a lot of recently completed projects are very rough around the edges

[@donm2067]

​@@Precondo*ahem* you meant luxurious right?

[@Precondo]

@@donm2067 yes my mistake opulent etc

[@briansmith5239]

RIP to all pre sale investors in Toronto and Vancouver that need to close this year

[@jay1645]

Have'nt seen one with Chinese flyers, pricing and agents in a long time lol

[@jimc9516]

who buys Collingwood Quay as a "vacation property"?? you can go on a luxurious vacation 3 times a year for $20k/yr, but to own that property you'd need to cough up a good $200k up front and then another $60k/year!

[@Batman94-m6g]

I have a student housing project I am trying to launch in QC. I started with landlord deals and renovated their units. Now that we have students and everything is great, they want to evict us and pretend like we never had a deal. Even when you are a group of young people trying to help your community, boomers have no problem putting you to the street and lying to your face with a smile. I truly think it's the generation holding Canada back from innovation because they're so scared of not being able to afford retirement, they have no self-awareness about the fact they are cannibalizing their own children for their own comfort.

[@sebastiencarre2416]

oh they know they are cannibalizing their own children, they just have to look at the debt. Only thing boomers ever done is piling debt on the back of their children so they could have a good life. Now that their children are broke and can't afford anything, they are trying to scam immigrants. "Please come in my basement and pay me thousands for that". Psychopathic generation.

[@maxpayne7419]

But real estate prices only go up! And therefore investors can borrow huge sums and easily make money. It’s a no brainer.

[@robanderson4586]

How do you find out what % SOLD has been achieved on a specific presale condo currently under construction? If not 70% then the developer must be using private financing right?

[@Precondo]

if not 70% then they just don’t break ground (in most cases - some can afford to go ahead regardless). Altus the only one I know of who has the project level data (paywall)

[@robanderson4586]

Reason I’m asking is that there’s a project in Hamilton, The Design District (Emblem Developments) with 3 Towers and I’m pretty certain they did not have anywhere near 70% when they broke ground a year ago and probably don’t now.

[@stephenn88]

@@robanderson4586builder can hold many units they want to as long as they have deep pocket

[@Precondo]

@@robanderson4586 design district towers 1 & 2 are 85ish and 75ish percent sold

[@robanderson4586]

@@Precondo ok that’s better than I had thought thank you for the information. You are an assignment specialist - do you work in the Hamilton market (when times are right for the Assignment business)?

[@gsmanage6734]

You speaking facts

[@sc00bs63]

comrades, Charmian Chow is not going to decease your taxes, if anything they will go up more.

[@Aaa-f7o5e]

A property is only worth the income of the inhabitants of the city in which the property is located in. The only reason the prices were high was because artificial sources such as immigration, and till 2019 they allowed foreign investors. Further there is also private equity, if you remove these factors even with a construction shortfall the prices would never have been this high. Therefore always oppose private equity, uncontrolled immigration and foreign investors. Pressure the government to open up the construction market by allowing any foreign firm that wishes to build in Canada, of course subject to safeguards. Vote out governments quickly never give a second chance or else none of your kids are going to get off the rental market.

[@tarawang5466]

Where is GTA housing going to be in 3 years time? - 750,000 new Torontonians - 3 years stoppage in constructions - rates at under 3% You have taken the differences from the absolute peak and we saw isolated losses of 20%. This is hardly a crash or fire sale. How do you explain the low volumes and sellers not budging on prices? It can only be interpreted as a mistake in evaluating the financial strengths of homeowners/investors, and now we are in a rate drop cycle.

[@justinjones5281]

Nah most people just can’t do all the maths.

[@Precondo]

to back this comment a little bit, it's worth noting in the urbanation report they showed that 75% of newly closed condos in 2024 were financed by big 5. If the assumption is the average condo investor is cash-strapped and over levered, you'd expect to see more B-lenders in that market

[@MR007-r3f]

Hey Pumper, No matter how hard you try it won't fly.

[@jonah11111]

Is it possible that the subtle news about immigration policy being massively turned around has cooled future demand expectations?

[@zhongguoguanerdai-lw9oq]

"I'm not the government or anything" well you might as well be buddy, you offering a plausible way out is still more than theyve done.

[@larrycanada2100]

I’m thinking about how fewer international students and temporary foreign workers will change the mid term demand for Toronto condos.

[@jay1645]

Fewer renters lol

[@Edu-hx9sz]

I simply refuse to buy. Let my investments grow. Real Estate valuation won in the past, but in the last years, my portfolio is growing faster

[@1dbvvdb1]

A 15-20% real estate drop os expected when markets have went up 50-75% in like 5-10 years. Condos are getting blown out ptetty hard also due to Airbnb restrictions.

[@markhunt5019]

Queen’s University ~$7,000 for tuition compared to ~$56,000 for international students. Vancouver has 23,600 International students all paying over double in tuition to Canadian students. In 2023, there were over 1,000,000 international students in Canada. Take all of this tuition money out of the Universities and Colleges and what do you think happens. (Hahaha…, I’m not talking about more dorm rooms being available for anyone who is whining about that pseudo-crisis.) Also, take all the rent that many of those students were paying and all of the purchases they were making in Canada. And you wonder what might happen in the Canada economy. Oh, and then just cut immigration in general. And then, fake-news a lack of supply in housing. Ok, check the January 2025 numbers. But before you do. Make a solid prediction now. Oh, almost forgot to mention… international student enrolment is down 54% already this year. If a group of factories laid off 500,000 workers can you imagine? And the difference between $7,000 and $56,000 is equal to some people wages for a year. That’s one student paying the wages.

[@TheDudecof]

This country is in such a weird place…our best strategy for solving problems is to dampen one set of problems by creating a whole new set of problems lol

[@ab78001]

​@@TheDudecof yeah it's sad that our economy is pretty much just housing and international students.

[@donm2067]

​@@ab78001That has been the grand strategy since around 2005. All good things come to an end.

[@jay1645]

@@ab78001 And stagnant wages as plenty of supply plus wage thefts so some win and others lose. Stats Can unemp nos today 7 yr high lol

[@RobertTerbrugge]

That's not exactly accurate from the perspective of many Canadians: First of all, Canadian families pay decades to support domestic colleges and universities. Of course the fees should be lower than foreign students who have contributed zero prior to enrolling. Secondly, the foreign students that are being targeted are studying in strip mall diploma mills and want to work 40 hour work weeks. I could never have completed my own professional degree while working 40 hours on top of a full course load. The diploma mill students were in it for the PR only, the studies were dubious at best. Thirdly, the students in the long-term will be a net negative to the Canadian economy. Canada needs skilled trades, skilled medical and skilled professionals. Many students that cannot speak English capably and have nothing essential to offer Canada. Fourth, the temporary visas were temporary. That was known in advance. No government promise was made to Indians or others. That is solely the responsibility of student consultants and wishful thinking on the part of foreign students who thought they could get a PGWP and then a PR card. Fifth, since Trudeau took office in 2015 he increased the PGWP from 80k to 400k - that is a 500% increase without any additional supply of housing and nothing planned. Mark Miller and Sean Fraser have failed. Trudeau has failed. Sixth, if legitimate colleges and universities are financially impacted, then like the private sector, cut wages and benefits. Eliminate defined benefit pension plans. Eliminate tenure. Reduce benefits. Join the real world and operate with domestic revenue, not foreign student fees. By cutting foreign students, by allowing immigration from qualified immigrants only, in step with housing starts, that is sustainable for Canada.

[@edblair5253]

Great vid.

[@MattDelovino]

our new condo sold in 2021 for 640, looked at prices today 550 average.

[@josephkrengel]

"Nobody seems focused on reigning this in" he says while giving advice on how to exacerbate the problem.

[@Gmoney0830]

Construction worker: the company that extends gas lines and utilities to all new developments in the GTA Has not broke grown on any new developments. What do you think will happen to the market?

[@julia-ne7fy]

The numbers on development fees come from the developers. Most developers are private and we have no idea how much they make. They don't want to pay tax. Not a new story.

[@AdamEgret]

"I'll give you 200k. That's my final offer". Can't wait go unit by unit with that sentence on repeat.

[@stephenn88]

Go to Edmonton

[@SNieX0]

Timigration, Lulu Lemon on the hot seat also today, lots of issues