The Inventory People Hate Is About To Get Worse (GTA Condo Real Estate Market Update)

[@porteauloin]

As person with European background living in Toronto - it is infuriating how low the effort in design is in Toronto. From conodo design - Architecture - Urbanism - Etc Investor and politician don't understand what is it like to live in a community... At the end of the day good design is always more profitable - it's not that hard.

[@ashleyconnor8891]

For some, it is very hard

[@milhouse8166]

This is what happens when housing is commoditized. Investors don't care

[@iitsEfnisien]

toronto condo design is soulless

[@stephenfermoyle4578]

You are right..they look at Condos like a stock..not a HOME and a COMMUNITY

[@parthppatel28]

They were essentially making hotel rooms.. 😂

[@eile4219]

Many Hotels have parking, you just need to pay a fee

[@xinleizhang3209]

seriously. looking at these new condo its demoralizing. Its almost as if the city is telling me "you live in a condo, you dont deserve extra space, cloth, to go anywhere but work and sleep." Go and read George Orwell 1984 over and over again, and you'll notice how much closer we are getting toward that reality. just like George Carlin has said before "They want people that are just smart enough to work the machines but dumb enough to accept these lower form standard of living, and sooner or later, they will take everything away from you."

[@miguelconway]

I would say - public storage for no locker but oh that requires a car to get to and from and parking. In NY with all of the subways this works. In Toronto is is as you say a few at best. How about converting these dog crate apartments to public storage? "The music has stopped," as quoted from Jeremy Irons in Margin Call.

[@Carolinapetroska]

Lockers are very important especially for those people who bought a 307 sqft unit. This is the minimum you can offer. Very stupid not to have bought a locker that costs only 5000 or 6000 cad and that the tenant could rent if not needed or even the owner. That's a big mistake. I used to make a 9% return net profit by just renting my locker. It helps pay some bills....

[@sleepyintoronto]

I once bought preconstruction and purchased 3 lockers. It was great at the time, but times have changed. Lockers are great in concept but they get broken into very frequently. I would not keep anything valuable in them.

[@robopalo8041]

I just keep decos and junk there.

[@soniavinodolac3251]

When prices reduce, allow change to Corp. Declarartion to merge 2 small neighboring units to make one livable unit and maybe one of them has a locker and parking space.

[@adamspencer5142]

You need a parking space, if nothing else than for guests, resale purposes, or to rent it out.

[@kellyhou9594]

Most of the new condo downtown does not offer parking and lockers to purchase for buyer with only 1 or 1+1 bedroom. And with parking being so expensive for downtown condo, it does not make sense for investment. ROI is too bad.

[@zevc3591]

You are absolutely right and I 100% agree with you in this matter. It's a totally ridiculous situation not having any extra space for household stuff, especially in modern type of shoebox type apartments. How it's possible to make an investment (buy such an apartment) without thinking or having a plan "B" and totally ignoring common sense, tradition and the reality of potential risk. I see no logic in such "investments" and I have no respect for those who ignore logic and common sense.

[@johnconelly9139]

Everyone got scammed at my condo the locker fine print stated "for bicycles only" and now they are completely useless other than for bicycles according to Fire dept. Glad I didn't pay extra for one. God please help me let go of my disdain and just move on.

[@rfmckean]

Would if be fair to say condos have gotten smaller but freehold has gotten bigger? Does this have to do with common element fees for condos based on sq. ft. while property tax is based on value and not land area?

[@CassiusJohnAdams]

Santo, as a recent end-user buyer having closed just last week, I don't agree with what you say about the parking - when it comes to downtown. I've been watching you for about a year and this is probably the first time I don't agree with what you're saying. Storage, yes. Parking, no. For practical reasons a storage locker is needed. If you're never going to use the parking then the only good reason to have it is because of perceived resale value. That's cyclical. Renting it out for a couple hundred a month is too much hassle, and there are additional condo fees for them. I'd rather spend that extra money on more space. Love your videos and they've helped me a ton!

[@teamsessa]

@CassuisJohnAdams Thank you for your comment. These condo videos and my discussion at the beginning don't focus solely on downtown condos. I mentioned at 4:35 that I could understand it more if you're downtown and then gave the example of condo's in York Region. Located on a subway line but not exactly walking distance to anything else. Much harder to get away with not having a car there. Congratulations on your purchase! We appreciate your support.

[@Theguys1]

You never mention the fact that you can’t just “ rent” without condo Board approval.owners do not want strangers wandering the halls. So, it’s not just a matter of finding someone to rent, or turning your unit into an AirB&B.

[@163WaysToLive]

"Where do people put their stuff?" What stuff? Remember, in the future: You will own nothing and you will be happy.

[@MapleCanada-w6g]

That woke agenda will go away with Trudeau. Political winds have changed

[@quixomega]

This is why I bought mine with parking and a locker.

[@GianniVitucci]

Not " investors" rather "speculators"

[@sc00bs63]

the vacant home tax is going to make it worse

[@makerKID5]

They're try their best to fraudulently skirt this tax. It won't affect them.

[@tapersaud]

The parking spot is not a problem for those who choose to live without one, unfathomable for NA car brain. Cargo bikes if you have kids or need to do a big grocery shop. The locker is a bigger issue

[@CassiusJohnAdams]

Agree. I just bought my first condo and had no desire for parking... I didn't overlook units with parking, but they seemed like more hassle because I'd either need to rent it out or sell it. But the locker was an absolute must!

[@PastelP-b4u]

I have a bit over 1300sqft on one level, garden w fruit trees and a decent sized detached framed shed. I would LOVE more space/storage. I don't understand how anyone could live in these tiny units w no parking, no storage locker. The inventory needed speculator buyers, and airbnb to be booming forever, bc how could anyone live in one of these and have hobbies that require a bit of space? or live in one as a couple and not step on your partner's toes? or be able to find a roommate to help with the mortgage? what, have someone sleep on the kitchen floor to help w increases in mortgage renewal/and rising condo fees? And without big price gains YoY no end user will be eager to buy one w the thought it's easy to sell and upsize in a cpl yrs for something w enough space to have a baby.

[@Lifeisapartydresslikeit]

If they make them bigger what happens to maintenance fees? I don’t understand how people pay $600 to $1000 for maintenance fees

[@mitc8141]

Maybe when the price drops low enough, you can buy 2 beside each other, knock out the wall and make it into a proper condo.🤣

[@robopalo8041]

can you?

[@primeartifacts6467]

most torontorians are woke as eff. They think everything revolves around bicycles and EV Ubers. And they are doing great job for environment.

[@adamnarbeaux5898]

NOPE. All my 2bed 2 baths, NO PARKING NO LOCKER. Profited SWEETLY every time! 😂

[@quixomega]

That time is over. Hope you're already out.

[@justinaldrich1719]

get your dog crate here bahaha

[@baseline6786]

Next yr Santo 🎅 will be tooting a different horn for real estate. Won't be so gloomy

[@adamnarbeaux5898]

IKR, who would want such a gloomy agent?!?

[@quixomega]

Prices so high, very gloomy. Crash is coming but I'm not sure I agree with you that it will be next year.

[@teamsessa]

Hi Baseline, I’m not gloomy brother. Actually, always positive. But I do often speak about the pitfalls and negative situations.

[@ant31891]

Next year, I promise everyone commenting will have a gloomy outlook when it comes to Canadian RE

[@cindybrown9898]

people need two parking spaces

[@petert1692]

All condos should be a minimum of 900 sq. ft.

[@Carolinapetroska]

Why ??? Just because you say so ????

[@SophieMarin-b8u]

Stop calling it a condo. Call it a coffin

[@siddiqze]

My apologies but I do not agree with you. You get what you pay. Increase your budget and you will get the parking and locker as well. You said that it is a starting point and starting point starts with few compromises. Otherwise you won’t even get on the ladder. Just my 2 cents. Btw, not all condo investors are in trouble.

[@adamnarbeaux5898]

He likes to think we all are. Not a good trait for an agent! That’s for sure.

[@quixomega]

The main problem with condo investors is that they're bag holders in a market where prices are falling. If you're cash flowing, you'll be ok unless rents crash. If you're not, you're losing money every way and that's a terrible investment. Better to sell.

[@teamsessa]

I do not believe all condo investors are in trouble. I work with and know many that are doing g just fine. It’s the wannabe investor that is in trouble.

[@Lifeisapartydresslikeit]

These videos are not about you. It’s about half of the people. No one is attacking everyone. How can he speak on what is happening in the city. It’s some people! It may not be you…. Relax!

[@datruth4766]

Folks...

[@agoquintal]

Your lose everything..