Baby, we got a bubble!?

[urbandreamer]

Meanwhile, the stock market is headed much much higher--new p&f target: 12550 INDU http://stockcharts.com/def/servlet/SC.pnf?c=$INDU,P&listNum=

What it means? Spring 2011 hard bounce up in T.O's market, imo.

 

[cdr108]

Meanwhile, the stock market is headed much much higher--new p&f target: 12550 INDU http://stockcharts.com/def/servlet/SC.pnf?c=$INDU,P&listNum=

What it means? Spring 2011 hard bounce up in T.O's market, imo.

what's p&f ?

 

[urbandreamer]

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:pnf_charts

 

[Condo George]

Thxs Sim, yes you are very right, now KA1 dont get teary eyed lol

I was at Mercer today, it was windy so my hair was all over the place lol

Prices from $231,900 for 363 sq ft studio in the Podium, one beds start $301,900 496 sq ft
$ 272,900 for 442 sq ft studio in the tower, one beds from $321,900 for 500 sq ft

Re launch

 

[cdr108]

Thxs Sim, yes you are very right, now KA1 dont get teary eyed lol

I was at Mercer today, it was windy so my hair was all over the place lol

Prices from $231,900 for 363 sq ft studio in the Podium, one beds start $301,900 496 sq ft
$ 272,900 for 442 sq ft studio in the tower, one beds from $321,900 for 500 sq ft

Re launch

are you saying you expect a re-launch CG?
wasn't this project released in March 2010 ... that's what it seems according to posts by other members in the 'The Mercer' thread .

did those prices come down ($600/650+ PSF for podium/tower, respectively) as others had mentioned they started at $700+ PSF in March 2010 ...

anyone have the floorplans ... their website doesn't appear to be available

 

[JayBee]

are you saying you expect a re-launch CG?
wasn't this project released in March 2010 ... that's what it seems according to posts by other members in the 'The Mercer' thread .

did those prices come down ($600/650+ PSF for podium/tower, respectively) as others had mentioned they started at $700+ PSF in March 2010 ...

anyone have the floorplans ... their website doesn't appear to be available

It's a relaunch. I still think the prices are "meh". Is it possible to get a 500sqft condo downtown <$300K?

 

[KA1]

Thxs Sim, yes you are very right, now KA1 dont get teary eyed lol

I was at Mercer today, it was windy so my hair was all over the place lol

Prices from $231,900 for 363 sq ft studio in the Podium, one beds start $301,900 496 sq ft
$ 272,900 for 442 sq ft studio in the tower, one beds from $321,900 for 500 sq ft

Re launch

If you were to include estimated cost of parking (30,000.00) and a locker (5,000.00), then, p.s.f. cost of a 500 sq.ft unit comes to appx 713.00 sq.ft.

Under the current economic environment, builder seems to be too optimistic. I have a feeling that sooner or later, there will another re-re-launch with lower prices or bargains will be available to someone who dares to ask.

 

[lafard]

It's a relaunch. I still think the prices are "meh". Is it possible to get a 500sqft condo downtown <$300K?

Think about that 300k mark. Not only is it impossible to get much below that, but demographics don't support that level.

Looking at the central waterfront tract ( statscan 5350012.00 if you want to look it up. It's from Bathurst to York, south of Front)

a) Half the units are occupied by single people that live alone.
b) the median income of these occupants is around 45k.
c) The biggest demographic group is 25-29 year olds; 30-34 is a close second and it tapers off gradually above that. The typical resident is in their early 30s - hardly peak earning years.

Most of the rest are DINK couples, which have an average household income of around 82k.

The total average household income was 66k.

The average home value in the tract in 2006 was 320K. It would of course be much higher today. This price level could be supported at 4x income - barely - were all units occupied by DINKs. Of course, only about 40% are. On average income the ratio was about 5.5. Of course nowadays it's quite a bit higher than that while it's dubious incomes have kept up with the ongoing economic uncertainty.

According to Stats Can, in 2006 fully half the units in the neighbourhood were rented. Considering how the area is very strongly dominated by newer condo buildings, particularly CityPlace, this is itself a warning sign. Behind the majority of those rentals is an oversized mortgage just like any other owner's.

The reality is that current conditions are completely, totally out of line with justifiable values. The justifiable price in the central waterfront is in the mid-200s at 4x income, which is a reasonable long term goal. This is 20% less than 2006 prices, and they're probably closer to 35% overpriced today.

(I am ignoring the "downtown premium". This area will always attract more affluent residents and will be correspondingly more expensive, no matter what the GTA's real estate market does. South of Front is not a super-rich area anyways)

 

[Condo George]

Ka1

parking at Mercer is $45,000

cost in new towers is usually $40,000 to $50,000

Hard to find a spot for $30,000

 

[JayBee]

If you were to include estimated cost of parking (30,000.00) and a locker (5,000.00), then, p.s.f. cost of a 500 sq.ft unit comes to appx 713.00 sq.ft.

Under the current economic environment, builder seems to be too optimistic. I have a feeling that sooner or later, there will another re-re-launch with lower prices or bargains will be available to someone who dares to ask.

You don't count parking in the ppsf cost. And even if you were to do that....why not include the square footage of the parking space and locke?r...lol. That's why parking.locker is typically separate from the ppsf cost.

 

[Condo George]

Not only is parking a whopping $40,000 to $50,000 cost but there is also maint fee that comes with parking and locker, here is an example at Maple Leaf Square.

Parking added cost to maintenance $81 a month
Locker...................................$20 .........

I dont recommend to any of my investors they buy parking or locker for any one bedroom or smaller, one bed and den maybe, two bed and up - yes

Usually can rent for about $150, some areas $200 for parking, factor in your maintenance............. I know there is a resale component but I dont think its worth the extra coin and carrying costs especially on small units in locations close to ttc or path just my 2 cts

 

[Condo George]

Balcony, parking, locker is never incl in the ppsf nor should be included in the listing as net or unit sq footage, it should be for a balcony eg....... 550 sq ft plus a 75 sq ft balcony

 

[Condo George]

Jaybee , look at Bathurst and Lakeshore for under $300,000 some dont like the area, but it is a value play you can get a 500 sq ft one bedroom new for $250,000s

 

[cdr108]

It's a relaunch. I still think the prices are "meh". Is it possible to get a 500sqft condo downtown <$300K?

Jaybee , look at Bathurst and Lakeshore for under $300,000 some dont like the area, but it is a value play you can get a 500 sq ft one bedroom new for $250,000s

it's amazing how things have changed in less than 5 years ...

500 SF is considered a 1 bedroom unit;
and $300K is 'reasonable' ?!?

 

[KA1]

I have been addressed to as ".. lol" by both Condo George and JayBee. I hope it is a complimentary term.

By the way what does "..lol" stand for?

Thanks in advance.