ILuvTO
Active Member
what is overvalued? people need to stop basing it by average household incomes and think that the average household should be able or worse, entitled to buy a home. look at world class cities in the world (new york, tokyo, london, paris, hong kong, etc.), the average household cannot afford to buy and live in the city. toronto and vancouver and moving towards being top cities in the world, so gone are the days of affordable housing for the average family.
we need to stop thinking Toronto of the past, thinking it's just a cycle of ups and downs of the housing prices. Toronto has evolved and it's time to compare Toronto in light of other top cities and how their housing prices have changed
I've said this before in this thread, and I will say it again.
Real Estate Bulls base their bullishness on vague things (TO is a world class city, people need a place to live, etc, etc).
Real Estate Bears base their bearishness on actual numbers (incomes, price to income, price to rent, debt to income, household formation vs new construction, etc) in comparison with historical norms.
If the bulls could give me some raw numbers to back up their position I would love to hear it. So far all I have heard are vague things that border more on wishful thinking.