Baby, we got a bubble!?

[evandyk]

Oh, I'm aware of the problems, but those units are still being rented out, the landlords are just grumpy that the rents aren't paying both their equity and interest payments on their mortgage at current interest rates. Prices will correct. Sadly, it will cause a bunch of pain in the number of new units coming in the next few years.

 

[Admiral Beez]

Oh, I'm aware of the problems, but those units are still being rented out, the landlords are just grumpy that the rents aren't paying both their equity and interest payments on their mortgage at current interest rates. Prices will correct. Sadly, it will cause a bunch of pain in the number of new units coming in the next few years.

I would not be surprised if in the next two decades we increasingly see retrofits of these investor-focused buildings where several shoebox units are combined into two or three bedroom units that are more suitable for owner occupancy, especially families.

http://www.twindo.ca/uploads/7/4/8/0/7480311/3200675_orig.jpg

This fellow from ten years ago, see below is trying to talk people out of the idea.

Combining Multiple Condo Units | Toronto Realty Blog

I’ve seen this done countless times, but I have never seen it done effectively. I’m sure there’s an old adage, or a saying, that explains something to the effect of, “It’s best use is for that which it was intended.”...

torontorealtyblog.com