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Unfortunately I suspect you are right. Given condo market vast escalation they gave you an extension knowing only too well that they can resell (I assume its a condo) at a significant premium to what you paid. I suspect they would even refund you your deposit since they will make much more...

The King East: The government knows exaactly what it was doing. It is in election mode and the threat they fear is the NDP taking away votes from the Liberals and the Conservatives winning by default. So they are positioning themselves to take the NDP vote. They are appealing to renters by...

I am going to guess that Admiral Beez is older than you...possibly retired. If so, preservation of capital often is more important than return on capital. The Admiral sounds like he has been very responsible and will not be dependent upon others to fund his "risk taking" if/when there is a...

What exactly does application for consent: Accepted mean? the project has been approved or what is the consent being requested if it has not yet?

I believe you have described that you have a larger 2 bedroom unit and I believe those are in demand from downsizers and in relatively short supply...hence probably explains the demand. Do you know who bought...what age demographic? I suspect maybe a "retiree" or someone thinking about retiring...

Agree with condotenant interest rates will go up....but I am not so sure they will do anything more than go up 1/2 of 1% and then the question will be to watch what happens. With so much of the Ontario well being dependent on real estate (around 35% of GDP I read somewhere if correct), if this...

Actually average prices are up even over all of last year but falling rapidly. Essentially we are back to around Dec 2016/January 2017 pricing "on average". However, there has been less higher end product sold so the averages are somewhat deceiving as more lower priced product results in a...

Actually 42 I believe you are correct with everything you stated but my understanding though I could be wrong is that the first phase and second phase of Cityzen's 2 towers are both proceeding at the same time (in other words the North and South towers are both going up together). The 2nd...

2 thoughts regarding the highlighted comments: 1) I do not think we will actually have a period of long stagnation. I suspect if/when the sentiment changes, if it changes radically, there will be a drop in price...though the question is at what time do the "bargain hunters" reenter. My...

I think you have to listen to your lawyer and realtor but I rather suspect they will be co named in any law suit because they should have picked up the error in the numbers. Frankly, more so the realtor/vendor who should be expected to provide correct numbers. From what you say now and I am not...

I agree with most of your quote and thesis but for the last point point highlighted and my disagreement would apply to other factors as well besides immigration, but let's use the immigration argument. While some immigrants are higher net worth immigrants and do contribute to the overall...

To me and I don't fully follow, it depends on what where you both talking about in the negotiation. Were you agreeing to give him $22K profit or were you agreeing to a final price. It seems to me that you agreed to pay a total price of $376K. How you arrive at that figure is almost irrelevant...

I am by no means an expert but in my experience Your lawyer if he is reviewing it may be able to get a cap on the closing costs. You should see. Some builders offer in the sale to cap the closing costs..For e.g. $5K for a 1 bedroom, $8K for a 2 bedroom. You will probably have to pay for the...

" Fledgling snowbird here. Canadians are definitely feeling the pinch but from what I can see they aren't selling out. Instead, they are more willing to rent out the places they own. If they don't own, they are shortening up or cancelling rental plans. I know a number who are continuing to buy...

I did not realize it was this much. In response to this and your previous post I still think it is a stretch to say the extent of the fraud is the same as in the U.S. I don't believe it is but simply do not have data to come up with that conclusion. If you have, then provide it please...

nrb: I agree: But the following has to happen. Interest rates can only rapidly rise if there is inflation. This is unlikely unless the economy improves significantly. So look for more time at very low interest rates or very slight/gradual increases. With the exception of the US, pretty much...

I stand by my statements Migos. I never said there was no mortgage fraud here. However, the scale I believe is very different between what was going on in the US and what has happened here. I agree there is some. However, the Home Capital example and the small group of brokers is hardly...

"This strategy would only have merit if you're guaranteed real estate values continue rising at the same historical rates." From the article: "If you’re primed to buy anyway, then listen up. Stop trying to save a 20-per-cent down payment and get into the market now. A popular and sensible bit...

The bolded comments depends on where they are from. Given the Yuan is pegged to the USD probably to a degree. Most other currencies have not fared well against the USD...e.g. the Euro, the Japanese Yen etc. The CAD until recently did relatively well compared to most other currencies and...

Along these lines, I recall buying in 2001 on paper a condo to be built for 2004 which in fact was closer to 2006 when ready. I thought it was fairly fully valued in 2001. David Madani of Capital Economics was recently quoted as saying houses will come down 25-30% I believe as I recall. It...