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GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30 (a.k.a. Real Estate Thread)

Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

CaptainBolduke said:
So you're ignoring that all houses in the city are still going over asking?

The new rules will likely make bidding wars smaller, but it won't impact prices in the City of Toronto. They'll still go up.

I'm still baffled at where you got the 30% reduction from. Nothing like that exists in Toronto. I wish it did...
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TREB just lost its appeal case to have their stats private, if this holds it will change the way real estate is reporter in GTA.. here is an example why they dont want it public. This is a fact example btw. house is listed at $1.34 , no offers , price reduction and still no offers, after several price reductions with a final ask of $1,040,000 the house sells at $1,050,000 and the realtor is allowed to advertise it sold over asked... that is a true sale that happened in Nov-2017... TREB sells real estate..they apparently have hooked you...
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

legoalie said:
what fake news am i saying? I base every thing on facts and charts..
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Your take is much appreciated. I'll take that over milquetoast "projections" all day. Projections are pretty useless in real markets where fear (either fear of losing money or missing out) rule the roost.

It's like people forgot (or are too young to remember) what happened in the 1980s boom boom halcyon days of Toronto real estate. Things went south fast and it took over a decade for the market to recover.
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

Comparing Calgary and Vancouver to the GTA is also apples and oranges. Vancouver suffered a dip by restrictions to foreign investment, and Calgary relies heavily on oil for employment.

GTA is a far more stable housing market.
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

CH1 said:
Your take is much appreciated. I'll take that over milquetoast "projections" all day. Projections are pretty useless in real markets where fear (either fear of losing money or missing out) rule the roost.

It's like people forgot (or are too young to remember) what happened in the 1980s boom boom halcyon days of Toronto real estate. Things went south fast and it took over a decade for the market to recover.
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What does it matter that real estate evaluation is basically what legoalie does for a living and has for quite some time.

Just post some projection from some mediocre source, that's all the proof you need.
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

Habs4Life said:
Comparing Calgary and Vancouver to the GTA is also apples and oranges. Vancouver suffered a dip by restrictions to foreign investment, and Calgary relies heavily on oil for employment.

GTA is a far more stable housing market.
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Another myth , foreign buyers made up 7.7% of the sales which was proven by CMHC. the hype in Vancouver is FOMO which is the same as in Toronto.. it is brought on by locals /investors. Yes Calgary was brought on by Oil, which is an outside influence that spanked the market.. real estate is only as strong as its economic benefits.. fact is, when interest rates go up, home values come down... buying power shrinks... BOC will be raising the bank rate coupled with the 2% stress test, how in the world is TO immune to that..
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

Habsy said:
What does it matter that real estate evaluation is basically what legoalie does for a living and has for quite some time.

Just post some projection from some mediocre source, that's all the proof you need.
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I think he is agreeing with me
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

Habs4Life said:
Comparing Calgary and Vancouver to the GTA is also apples and oranges. Vancouver suffered a dip by restrictions to foreign investment, and Calgary relies heavily on oil for employment.

GTA is a far more stable housing market.
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stability don't last forever
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

There won't be major drops in Toronto. House prices will continue to go up - like they currently are and projected to.

There has been no 30% reduction in Toronto like LeG claims. The stress test and new rules will shrink the buying market, but it won't impact house prices in TORONTO.

Each house in Toronto will continue to get multiple bids.

I ask anyone on this board to go to buy a house today in Toronto. You will have to pay over the asking price no doubt.

I wish a million dollar house would suddenly be only worth 700K. But that ain't happening in Toronto, obviously.
 
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Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

TheCountofMonteCristo said:
Unless you are selling, who cares whether values drop?
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this is so true.. the mindset has changed, people buying today think in terms that a home is an investment first and a home 2nd.. they throw all their eggs in that one basket.. when you buy real estate to live in it should be thought of as a home, a need, and in it for the long term.. real estate will go up and down (unless you live in the Captains hood)..
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

legoalie said:
this is so true.. the mindset has changed, people buying today think in terms that a home is an investment first and a home 2nd.. they throw all their eggs in that one basket.. when you buy real estate to live in it should be thought of as a home, a need, and in it for the long term.. real estate will go up and down (unless you live in the Captains hood)..
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Families buy into the dream of a home, a house. A condo doesnt cut it for most families. Canadian cities are running out of land for new home developments, so the demand for a house will always be there.
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

wiseguy1 said:
Families buy into the dream of a home, a house. A condo doesnt cut it for most families. Canadian cities are running out of land for new home developments, so the demand for a house will always be there.
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Yup.

I'm 36 with 2 kids.

Nearly all people in my situation want a house or town house. Not a condo. Obviously.

I would continue to rent before I buy a condo with my family situation. That's not uncommon at all in TORONTO.
 
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Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

wiseguy1 said:
Families buy into the dream of a home, a house. A condo doesnt cut it for most families. Canadian cities are running out of land for new home developments, so the demand for a house will always be there.
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people have been buying into the dream of a home for decades.. the demand will always be there, people need a place to live, the demand is usually dictated by feasibility and economic stability, people will always find an alternative place. (unless you live in the Captains Hood );
 
Re: GDT: Game #40 | Sharks @ Canadiens | Jan 2, 2018| 7:30

legoalie said:
this is so true.. the mindset has changed, people buying today think in terms that a home is an investment first and a home 2nd.. they throw all their eggs in that one basket.. when you buy real estate to live in it should be thought of as a home, a need, and in it for the long term.. real estate will go up and down (unless you live in the Captains hood)..
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worse. many have become accustomed to using their home as a perpetual ATM.
 
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