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Baby, we got a bubble!?

cruzin4u said:
Thank you for taking the time to respond, George.

Lately it seems there are more and more listings popping up on MLS. I know there was mention of a shortage of listings for detached homes, however the past week I have noticed a steady stream of new listings in my area. Not sure if that means anything :).
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You are right we are seeing more listings come to market in April, lets see if the supply gets eaten up by demand.

On a personally note, I know you said you are Aston Martin type of man, but you may like the Black Beauty here too :) I don't mind to meet up for a coffee and chat about housing, stocks, nickel etc.

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Condo George said:
You are right we are seeing more listings come to market in April, lets see if the supply gets eaten up by demand.

On a personally note, I know you said you are Aston Martin type of man, but you may like the Black Beauty here too :) I don't mind to meet up for a coffee and chat about housing, stocks, nickel etc.

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Nice wheels George.

Tell me please, where do you see condo prices going in the high end luxury market?
 
The high end lux market has been trending lower for a few years now and has underperformed the broader condo market, I expect that trend to continue, with the exception on maybe 2 towers, the high end lux market is seeing more selling than buying and most are under water when all costs to purchase are taken into account.
 
I feel like it's time for me to make a contrarian prediction: middle class ppl in Toronto will move to the 'burbs from their condos, lower class ppl will continue to rent (that includes myself :D) and the upper classes will start moving into boutique-scaled high end condo buildings and townhomes like you see in NYC etc. My timeframe: c.2018-2030.
 
Condo George said:
The high end lux market has been trending lower for a few years now and has underperformed the broader condo market, I expect that trend to continue, with the exception on maybe 2 towers, the high end lux market is seeing more selling than buying and most are under water when all costs to purchase are taken into account.
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Thank you for your thoughts. Which 2 towers?
 
cruzin4u said:
...
Lately it seems there are more and more listings popping up on MLS. I know there was mention of a shortage of listings for detached homes, however the past week I have noticed a steady stream of new listings in my area. Not sure if that means anything :).
Click to expand...

There have definitely been an increase in listings all over the city, however, I'm not seeing the properties moving at the pace that it was in the last few years. People in the financial sector chalk it up to the cold, hard winter that we've been having but even as the weather is warming up and sellers start to collectively list their properties for sale, I see a lot of detached homes in sought-after neighborhoods sit for multiple weeks without any deals being struck. I'm very curious as to how this is going to play out once May swings around and we finally get a real spring.
 
CMHC rules changes:

"The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income validation, and will offer no insurance on Canadians seeking to purchase a second property.
Self-employed Canadians can still qualify for CMHC insurance, but must be able to provide proof of their income levels, the agency said.

It estimated the changes would affect less than three per cent of the units it insures. Given the limited use of these products, their discontinuation is not expected to have a material impact on the housing market, the agency added."
 
KA1 said:
By the time you finish coffee, I am sure, you would have sold him a condo:)
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lol yes at 11 Wellesley Condos


But seriously, I was hoping for a meeting of the minds coffee, learning from each other. You never know, we may end up being good friends if we ever get that first coffee.
 
lol, I don't know about other owners maybe coffee in South Beach but this Maybach and Bentley owner is an average simple man :)

Here goes.

Tim's at Bay and Wellesley
McDonalds at Vic Park and Finch
Starbux in Main Street Unionville Markham a country setting
Place across the street from Riverdale Park for a cappuccino another great experience
 
Condo George said:
lol yes at 11 Wellesley Condos


But seriously, I was hoping for a meeting of the minds coffee, learning from each other. You never know, we may end up being good friends if we ever get that first coffee.
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We already are friends George, just virtually :)

I'm not really a retail investor kinda person. But I would love to see the condo market continue to grow and thrive.
 
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