Baby, we got a bubble!?

[KA1]

Toronto world's 4th most livable, just behind Vancouver. Watch/wait for overseas investors to scoop properties -- houses/condos --. There goes any chance of bubble busting
http://www.cbc.ca/news/canada/toron...-vancouver-toronto-calgary-in-top-5-1.3194833

 

[Migos]

James, to answers your question: We are in the greed or delusion stage in my opinion.

 

[Midtown Urbanist]

Japan in the late 1980s was in the greed and delusion stage. We are nowhere near the craziness and delusion of the Japanese asset bubble.

And once the bubble does pop, I bet you housing prices will still be quite high in Toronto and Vancouver, just as it is in Japan 25 years later.

 

[KA1]

Now read what 'experts' say about 'bubble bust'. RBC downplays chances of housing market crash.

http://www.bnn.ca/News/2015/8/19/RBC-downplays-chance-of-housing-market-crash-in-Canada.aspx

 

[wang888]

James, to answers your question: We are in the greed or delusion stage in my opinion.

Great chart. Toronto is so in denial.

 

[wang888]

Japan in the late 1980s was in the greed and delusion stage. We are nowhere near the craziness and delusion of the Japanese asset bubble.

And once the bubble does pop, I bet you housing prices will still be quite high in Toronto and Vancouver, just as it is in Japan 25 years later.

Not true. I was in Japan last year and u can get a decent 2 bedroom for $300,000 CAD. And since we are about 1:1 currency. It's pretty affordable. My friend also makes $50,000 for day care. Lol

 

[James]

James, to answers your question: We are in the greed or delusion stage in my opinion.

I like this chart. I'm not one of those perma-bears salivating over the notion of a bubble burst by any means but I do think when it comes to finances, one has to be a realist. I don't doubt that we could be in the delusion stage at all.

 

[Midtown Urbanist]

Not true. I was in Japan last year and u can get a decent 2 bedroom for $300,000 CAD. And since we are about 1:1 currency. It's pretty affordable. My friend also makes $50,000 for day care. Lol

Where? In Tokyo?

 

[urbandreamer]

The stock market crash should impact the Toronto market by October. I expect it will be a quiet winter in Florida for Toronto realtors.

 

[Migos]

Cash buys and illicit money: Federal audit probes Vancouver’s real estate industry for money-laundering
http://news.nationalpost.com/news/c...ers-real-estate-industry-for-money-laundering

Vancouver’s booming real estate industry is being targeted in a federal money-laundering audit that could potentially lead to massive fines and jail time for realtors.

Ottawa’s increased examination of Vancouver real estate deals has been under way for several months and has been revealed in a Province investigation that obtained rare internal data and risk-analysis reports from Canada’s financial intelligence unit, Fintrac.

Documents obtained under access to information law — and The Province’s interviews with a wide array of B.C. real estate professionals, money laundering experts and Fintrac officials — suggest dramatic under-reporting of large cash transactions and suspicious transactions that realtors and developers are responsible to make to the federal government.

“We have significantly increased our examinations in the Vancouver area,” a Fintrac official said. “Our compliance people are not happy.”

Specific money laundering risks in Canadian real estate, according to the independent report obtained by The Province, include buyer concealment loopholes involving lawyers and legal trust funds, a “high number of cash transactions” and a lack of “quality or ethics infrastructure,” and “disengagement” with compliance rules.

“The purchase of Canadian real estate assets with offshore money and or by offshore persons was noted as a significant risk factor,” the report said.

A previous investigation by The Province showed Vancouver’s airport leads North America by a wide margin in the millions of undeclared cash seized from Chinese citizens.

It's a house of cards.

 

[EricBrandt]

9880 sales for July 2015 up 728 from last July

 

[NorthYorkEd]

We are nowhere near the craziness and delusion of the Japanese asset bubble.

Really?

Crooked west end house on the market for nearly $700K

http://www.cbc.ca/news/canada/toronto/crooked-west-end-house-on-the-market-for-nearly-700k-1.3154669

An extreme fixer-upper is for sale on the west end street.

It has a roof that dips, uneven front doors and a semi-detached house that slants way off to one side. But the cost remains in the upper edges of the real estate market.

 

[James]

Canadian home prices predicted to rise despite economic uncertainty


Canadian home prices are expected to rise a more than 5 per cent this year and 2 per cent in 2016 even as the economy weakens, a Reuters poll has found.

http://www.theglobeandmail.com/report-on-business/economy/housing/canadian-home-prices-predicted-to-rise-despite-economic-uncertainty/article26115367/?service=mobile

 

[James]

Fears of Toronto housing collapse ‘exaggerated’: Report

The biggest risk to the housing market would be a “sharp increase in unemployment or interest rates that erodes demand.”

Fears that Canada – and Toronto in particular – has a housing glut that could lead to a catastrophic U.S.-style downturn are “exaggerated,” says a new analysis of the national real estate market by BMO.

http://www.thestar.com/business/per...onto-housing-collapse-exaggerated-report.html

Everything's all good. Carry on.

 

[NorthYorkEd]

Hearing the banks talk about the housing market reminds me of this guy: