Toronto Real Estate-Will The House Prices Keep Going Up

[@Johnny-ty1dg]

The demand is there but it's not from Canadians who work and live here. Foreign demand + low interest rates = inflated house prices. Prices will continue to increase as long as interest rates stay low and foreign speculators keep buying up houses. Many of the major Canadian banks, if not all of them, offer mtg's with 35% down with no income/affordability test for certain types of buyers.

[@jbmop]

But demand isn't matching the fundamentals. This is a classic bubble.

[@Paul-eu3qs]

Toronto is in a bubble. Biggest debt ratio ever. Demand is an issue but so is the foreign buyers, which is driving up the market. The government doesn't care about Canadians. They want the Land Transfer Tax. The only way it will go down is if the rates go up and they do something about the money launderers. Low rates is very dangerous, you cannot just look at your monthly payments. You still will have a HUGE principal and WHEN rates go up, the crash will begin. And they will go up. Also, the amount of immigration in Toronto is way too high, the is also driving up the housing market. Thanks to the Liberal government that know nothing about the economy. DO NOT RE-ELECT TRUDEAU, HE IS AN AMATEUR.

[@olsza6969]

100% right

[@Paul-eu3qs]

Thank you! Glad someone sees it the way I do. It is getting out of hand and not enough people are talking about it. Many Canadians do not realize the corruption. I believe I just heard that Wynn lowered hydro rates because of an upcoming election but didn't she say that there was no way they can be lowered? This is more evidence of how fake these politicians are and how greedy they're. We are being played and looking foolish. But I am more concerned about how the government is allowing us Canadians to be pushed out. I live and work in Toronto, why should I be pushed out? Why should I buy a condo that is 100% overvalued? It's not worth it even with low interest rates. People need to focus more on the Principle amounts and not the monthly payments. Also, the banks and brokers in general approve people for mortgages so easy, even if they would not really legitimately. All you do is pay for example an extra 3k directly to the broker and there you go, approved. Good luck! The people who say we are not in a bubble are either in the real estate sector or possibly own a home and do not want to believe it. If you own a home and sell what can you really buy?

[@olsza6969]

I think there is more of us, but being in the classroom where all students treat us like a nuts is hard to survive especially that we do not to be a slaves of the mortgage system. Luckily they do not charge us for air yet.