Toronto LOVES Studio Condos (tiny)

[@Matt-YT]

I have lived in small studios. Totally livable when you are younger.

[@davidrockefeller2007]

My sister did as well. I thought it was the coolest place. I’m the heart of downtown where all the fun is, great view. I would live in on and be very happy.

[@Droxal]

The "premium" for studio apartments simply represents how unjustly high the first rung of the property ladder is these days. Housing is a basic need required to survive, so in a city / country without enough housing or enough social housing, of course the premium for these units will be super high. Everyone needs a place to live, so it really is a race to the "cheapest" option. Once you are on the ladder, then you can climb it. But what use is having a ladder when only a rich 50-year-old can enjoy the "luxury" of a 3-bedroom unit.

[@adk4419]

These shoe box condos are moving well with all my international university students. Their parents can afford 400k. It’s peanuts to them.

[@tassosplatis2143]

There's definitely a market for studios. And I think it's not a big deal that developers don't build more 3+ bedroom units. Large families ideally don't want to live in large apartment buildings, especially on higher floors. I'm just perplexed at the rental prices being virtually similar between downtown Toronto and downtown Hamilton.

[@Precondo]

@@tassosplatis2143 also perplexed by that & yeah at 3 bed condo prices most just opt for the townhome a little further out or a detached in the burbs

[@TejkaranSingh-jy9yq]

​@Precondo Hey Jordan, kind of a random question, but what are your thoughts on the Marilyn Monroe condos (50 & 60 Absolute) in Mississauga in terms of buying in them

[@Precondo]

@@TejkaranSingh-jy9yq would ask Nikhil Oberoi about that he knows all the sq1 buildings inside out. Last I heard though, not great at all

[@TejkaranSingh-jy9yq]

@@Precondo will do. Thanks for the reply!

[@user72974]

First condo looks perfectly reasonable for the kind of place I would have liked to live in when I was in my late teens, early 20s, getting started with life. Problem is I was making minimum wage back then. Min wage is about $15/hr now. Can't get a mortgage for a $410k studio condo like that with a wage that low.

[@gurpreetsandhu6714]

Private mortgage bro!

[@user72974]

@@gurpreetsandhu6714 For 16x annual income?

[@jay1645]

Is worth 160K lol wait and see if you get lucky

[@jeffburke170]

min wage, 30K/yr... allow 30% of gross for housing = $9K/yr, ~$750/mo, and that carries how much mortgage? Maybe $120,000? Patience, everyone...escalator up --- elevator down.

[@user72974]

@@jeffburke170 One could also argue that a person starting out their life at the bottom of the wage ladder, making minimum, isn't meant to be able to buy a condo in downtown Toronto right away. So I don't think it's fair to say the true price of that condo should be $120,000. That's probably too low. But there should be some condos available, especially older ones without the latest finishes, in other areas of the province, for $120,000. Or, rent vacancy should be high enough and rent should be low enough that someone could rent a condo like. Either way, there should be homes like that available to minimum wage workers. I think we've failed as a society if we haven't put in place the right conditions for everyone to have access to a home they can afford.

[@vikingvancouver9832]

I really appreciate you speaking your mind and offering up alternative perspectives… with solid logic / rationale. Very helpful for those of us who do not work in the industry. The more good information we get the better understanding we will have about what is going on.

[@MrThogin]

love it... my uncle wife and two cousin lived in 250 sqft box for 25 years. Hong Kong...

[@chorn74]

had a camping trailer years ago that was about 240 sq ft. lol. hope the people buying these condos arent house poor... probably be a relief to get out and work a parttime job on top of their fulltime just to get out of the box.🤣

[@bobsheldon5015]

There are certain fixed costs per condo suite and studio units have fewer square feet to distribute those fixed costs over. I would not consider a premium but it’s the results of a mathematical calculation

[@sebastiencarre2416]

Fire content, i love your channel. Learning a lot on RE as a whole. Very data and math driven. I dont think 280 sqft is inhuman, i lived in one when i was a student and it was more than necessary for just 1 student. What i find more problematic is Toronto is anti family. If you are 3+ people, the struggle is real. It's as if Toronto just want students and slaves who don't want children...

[@adamnarbeaux5898]

“I really have no idea what the point of this video was”. 😂 you’re hilarious Haha 😂😂

[@howy3333]

Heres the answer: Its the bottom end of demand price. thats it. price doesnt get lower... So yes the ceiling of affordibilty

[@hill4377]

You are right. Nobody would be complaining if this was $150k It soon will be. Ask the insolvency lawyers who are now showing contagion all the way to the 1.5m condos. And that is prior to the 40,000 units on the way.

[@Precondo]

@@hill4377 hope so, I’ll buy ten. Imagine the cash flow 👀

[@VinegarMoneyGrows]

You trade full size bed to futon bed to save $600 on rent ($2700 1 bed vs $2100 studio). Many renters take that trade off.

[@Slickpete83]

*When do you think we will see micro condos in Toronto?*

[@jay1645]

3rd innings of collapse long way to go but Carney is at work so lets see lol POS 2x and needs to go much higher 15x ?

[@acadian76]

It's not the size of these apartments that is so much the problem. Many single professional would be fine living in them. It's the prices that is the problem. In Vancouver a studio condo sells for $500,000 and up and to rent the price is around $ 2,600 per month and up. That is too much for most people, even those with good jobs and solid incomes. If these were priced around $250,000 and rented for $1500 - they would be more doable for their target audiences.

[@pancakes3ful]

There's tons of land west of the greenbelt why isn't it being developed

[@123catz]

Government regulations not letting anyone build!

[@hang5260]

I’ve been living in my 430sqf studio for 3 years now that I paid for less than 400k for, it’s totally livable for one person. Now that I’m married I’m planning to rent it out, the monthly cash flow will break even.

[@Marshal_Dunnik]

"You can cook breakfast in bed...in bed." lol

[@Cameron_David_]

That New York map is brutal.

[@Kevriyal5654]

Totally agree, suburbs in GTA are much nicer, therefore carry a premium compared to other major cities ghetto outskirts.

[@peterbanh1364]

Tiny studio Condos are NOT a problem. However, sky high price is the problem. If the price of a 250-350 sqf condo unit including a parking spot is $250k-300k then it is reasonable. There are lot and lot of single Canadian people and all they need is a small place to live.

[@robanderson4586]

That’s a great analysis thank you!

[@Turklean]

Great content man. Thanks.

[@fatimaalzahra2644]

Can you tell us how many developers are asking their commission back, because from 2018-2022 you sold lots of condos. Are you paying them back?

[@stephenfermoyle4578]

very very sad that is is actually a conversation !!! nice that you finally put in the ''in and out fees'' what about lawyer fees, don't you rent till the building is registered?

[@Precondo]

@@stephenfermoyle4578 Centrecourt goes straight to closing no interim occupancy

[@howy3333]

Maybe the title should have been: Toronto SHOULD love studio condos...

[@ColdHardToronto]

How much for a coffin apartment?

[@fp2687]

Do u have any thing in Durham region

[@prash99]

All Studios and 1 Bedrooms within an individual building sell at a PSF premium. If paying studio PSF for a 3bdrm you're getting ripped off.

[@davidrockefeller2007]

Great channel

[@javiersantos4385]

Best videos! although I don't always agree 🙂

[@AllMyHobbies]

The premium you talk about only accounts for price per square foot, which is a stupid metric. It doesn't take the count. The fact there is a base amount somebody's willing to pay for an individual unit then as unit gets bigger, they'll pay slightly more. Think of it more like tax brackets what's the marginal price? Somebody will pay for 10 extra square feet from one bachelor to the next bachelor. In reality two bachelors, they are 10 ft.² difference probably would sell for the same price.

[@thespacesbetweenstudio3346]

who the heck is living in 267sq feet? That's a dorm room.

[@adk4419]

International U of T students. 400k is nothing to their parents

[@gems.studio]

I may buy one of these and rent it out sometime next two year. I am not going buy them new at premium - they worth the same sq.ft. as the other units on the same street - which is almost half of the price tag from the developer. This concept has been proven in Hong Kong as these shoebox units were eventually fell to that number - only when you are so lucky to get it sold in the 2nd hand market. 😮

[@CorporateShill66]

Rather live in a tent in a park.

[@stephenfermoyle4578]

and all the fees and costs when you sell. crazy stupid

[@TheDefiantSpace]

Video summary: theres no such thing as a bad product just a bad price

[@CityEstates]

Studios = Cashflow!

[@nishali3343]

Are students renting these studios? How long are these leases, 1 yr ,2 years?

[@jay1645]

Roughly half of mortgage holders have yet to face higher rates ( tostar) headline today. Party just getting warmed up or in 3rd innings of the collapse ? Can only see corp. buyers like Blackrock to replace the money laundering groups (China in deflation) to light a fire again as the mkt. tanks in the next 1-3 yrs. so need to see rules around them too ?

[@MrKYT-gb8gs]

Studios aren't marked up enough?!! This guy should be in jail

[@servethesongs]

Sheeple in their 500 sqft prisons

[@frederickmooney2581]

Nobody loves these, the market is flooded with them and the only people buying are investors looking for short term rentals and people that can’t afford anything else 😂

[@Bunnyone000]

i'm selling mine studio, near Billy Biship airport. Anyone?

[@praneeth_010]

Dear [jordon], I hope this message finds you well. I’ve reviewed the thumbnails currently in use and believe there is an opportunity to enhance their impact. As a thumbnail designer, I can offer improvements to make them more engaging and effective. If you’re interested, I’d be happy to discuss this further and show you some of my ideas. Looking forward to your thoughts. Best regards,

[@dissatisfaction]

Do you mew?

[@Precondo]

mew? Like mewtwo?

[@EricAlHarb]

It’s a supply and demand issue. Lots of supply and limited demand. How do you figure they are selling “incredibly well”? How many are selling?

[@Precondo]

@@EricAlHarb selling well relative to other Condo types

[@theguywiththehat99]

Need to move that self-thumbnail as you're blocking some of the content..

[@dtuyyyy]

ur so creative making up topics on the fly

[@anthonygrisanzio6782]

it's the layout that absolutely sucks

[@howy3333]

People stay in hotel rooms all the time comfortably. This is a wonderful layout with an open view and its affordable. Its fantastic!

[@unfortunatelyrob2635]

I think the 3bed unpopularity is just the old values that you cant raise a family in an apartment. I hear that all the time, go get a house. I dont think thats true and its just a reflection of the people I know... middle class. Working class does not have a choice. Single moms are raising kids in apartments, but they arent affording 3bed either. Its too poor for rich people and too rich for poor people.