The ONE - Toronto Condo in $1.6 Billion Debt, Now Placed into Receivership

[@kayvansaberi7819]

Good report. Music is too loud.

[@RaymondKeen.]

For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.

[@SandraDave.]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@hersdera]

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[@hersdera]

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[@SpruceMoose-iv8un]

@Formancando Immigration rates are too high, our infrastructure can't handle it, it's going to take 20 years of construction and 20 years of low immigration rates for costs to come down.

[@geofflepper3207]

​@@SandraDave. With over 100,000 people coming to the GTA each year and not enough new housing being built in Canada and interest rates likely to fall somewhat over the next few years I'm not sure why you anticipate home prices falling. Some forecasts have the GTA rising in population to about ten million people by 2043. All the new people will create demand for housing.

[@jooky87]

Great in depth explanation

[@Joe-mz6dc]

Good video but I suggest you mix the audio quite a bit lower. Maybe 50% lower.

[@mohammedrezahekmat1754]

Thanks Dan for your invaluable information. Appreciated.👍👍👍

[@AnitaSridhar]

What condo builder do you recommend

[@ElonMuskMindShorts]

tridel

[@julianb1474]

I think you are 100% correct wrt the reputation of the developer. My son has a deal for a condo town in a project in the North Beach that is by a very small developer, and has been excruciatingly slow in construction and well past promised dates. I believe that the sub-contractors in a busy construction market simply won't bid to small developers, since they have more reliable generals to bid to, resulting in haphazard construction by the lowest grades of contractors. Delayed construction means increased costs, especially so in a rising rate environment, and then there is the issue of quality. There is an aspect of condo development that I'm not sure you have discussed - that it's the type of development where the developer has the greatest incentive to cut costs in construction, meaning reduce quality wherever possible, and the developer most likely to do this is a small one without a reputation to maintain.

[@WesWoychyshyn]

I do believe that a lot of these events have been preplanned! How do all the wheels all fall off the wagons at the same time?

[@VirtousStoic]

Music is too loud, distracting and annoying. Plz change and lowee thw volume. But excellent video. I just subscribed. Wish you the best in your career

[@nt007]

The buyers have a contract to buy a condo at price X. My question is how come developer can increase the price after contract? Is that legal in Canada? (Referring to some options at the end of the video)

[@kellyhou9594]

Technically, not. But if the developer declare bankruptcy, then it will be the same and why do you want to bother yourself with lawyer cost?

[@greatestsportslegends]

Curious to know if there is a precedent for a class action lawsuit for current owners/investors should the developer/investment bank decide to either cancel the agreements outright or a steep increase is demanded.

[@kellyhou9594]

I don't think much can be done. The developer can also declare bankruptcy. This had happened too.

[@jayblair4344]

very good content

[@kathyfreeman9596]

Thanks for sharing always great updates and thank you for always keeping us informed ❤

[@joessonguf]

Music too loud...

[@richardadams6988]

Who's gonna clean up this mess !!!

[@bobnandez]

Real Estates worst enemy is time because that would increase financial and administrative costs beyond the expected margin of profit and ultimately biting off developers equity. Un unfinished building is a loss for everyone. A finished building could beba loss for developers but at least lenders and customers get their moneys worth delivered.

[@dougiep2769]

It’s just the first. I suspect it will take a lot of banks down when it’s all over. Think I saw a 250 million lose in 3 yrs on a San Francisco property. All the office buildings and condos are way over valued like criminal over valued

[@juniorcampbell2980]

I guess the developer will not be exercising the right to increase the building to 95 storeys. The units in the building seemed overpriced

[@richardadams6988]

So now what !

[@spencerji6162]

Why do not you say something much information before?!

[@kevinl7173]

I think 10.6 billion is more accurate

[@hassanjalal822]

🎉

[@incarnation8985]

About the KEB bank, this guy is not delivering 100% correctly. Better be corrected and clearlify with KEB Hana Bank before go public. It needs to change the terms. He mentioned the name of the Country. It's wrong man. All men from Hong Kong do this wrong thing with their lips. It's wrong man!😮

[@shirleymeier2367]

Karma?