URGENT! Toronto Condo Crisis Is About To Get Worse

The presenter has taken great care in preparing
this video, however makes no representations or warranties with
respect to the accuracy or completeness of its content. The contents
of this video should not be considered a substitute for
professional financial advice. Please consult a financial professional
before implementing any of the strategies described in
this video. The presenter shall not be held liable
for any loss of profit or any other financial damages, including
but not limited to special, consequential, incidental, or other
damages.

[Icecold]

400 sq/ft 600K condo. Perfect place to spend 80% of your after tax income and raise a family.

[MizMite]

They destroyed every aspect of life in the city from broken roads due to cement trucks pounding the roads to blocking out sunlight. Reap what you sowed.

[peterbanh]

The small size is not the problem, the problem is sky high price. A single person would want to live in a 250-400 sqf with a parking spot if the price is around $250k-$300k. There are a lot of single people these days but the price is too high for what it worth.

[TheRobertpainter]

Let’s call it what it is…a Bubble! Bubbles pop, we need this bubble to pop or our kids will never be able to afford anything.

[marcuslatansa]

2 beds Condos will go to 400k average and 1 bed to 280k average .. before it happens nobody will buy

[derekm]

"Investors flocked to buy these condos"... that's what was said. Yes, because in 2020 money was loose. The government put $600 000 000 000... into the economy, effectively doubling the national nominal debt, but not adding or supporting the production of any associated real value. They think, quite stupidly, that money is wealth and value, when in fact it is only a store of wealth and value if there is actual real wealth and value (production of natural resources, goods, services, etc.) in the economy to support it. But, all their policies since they were elected were to destroy Canada's ability to create wealth and value through the production and export of resources, goods and services. So, as an analogy, what there really is, is a whole lot of slices being cut for a shrinking pie, I.e. inflation. This whole damn economy is built on a house of cards called real estate. If the "value" of things in the economy is to go up, then it's necessary that production of valuable things goes up, but not just one type of thing (housing, in particular, condos). Right now the value of our money is being taken away from us, it's evaporating, and it's because of a whole bunch of stupid nonsense ideology and incompetent and stupid policy related to the stupid ideology. The dude below talking about increasing 5yr rates... he's right over the long run. Yeah, right now the five year is low because the "un-invert" is tracking down, but what wasn't addressed is that GDP per capita is declining, which means that investment in the economy is declining, which means that every time the government has a bond issue the people who buy bonds are saying "what can you do for me?". And if the answer is "we don't have anything worth investing in", then they're gonna say " give me a better rate if you want me to take your paper". And, the government will have to, or they will have to cut spending... and in the long run, they're going to have to cut spending anyway, or a friggin orange is going to cost twenty dollars. Why is everyone so surprised that investors are losing their shirts in the condo market in the big cities in Canada? They're not losing anything... it's the same damn property that it was in the same damn towns... it's just that their money is worthless now compared to what it was worth a few years ago. It has no stored value. It's that simple. And the ones responsible for the loss of the value still have their jobs, while all the people who lost the value of their money are slowly but surely losing their jobs. If you think it's bad now... just wait for it baby, because the giant to our south is about to roll over, and when it does we're gonna get crushed. If the US dollar crashes, and it looks like that's more probable each passing day, it's going to drag the Loonie with it, and we got nothing... no lumber, no oil, no production markets and your friggin orange is going to cost you your firstborn. If the government continues to spend the way they're spending, and continue to chase investment out of the country... well we're going to suffer the fate of countries like Greece and Venezuela, and that's not so bad in their climates, but it probably sucks pretty bad in winter in our latitudes. There'll be a bunch of empty and half finished condos with no heat or lights in downtown TO. Apologies for the rant, but I'm getting pretty sick of seeing millionaires who don't understand where the value of money comes from whining about how they're losing it all. "Investors" should have invested in things that produce wealth instead of tulips, or .coms, or condos for Air B&B... real investors did, and now they're selling off assets to sit on hordes of cash to buy up the deals when it all falls apart. Warren, Ray, Robert, Peter... Why is gold so high? Why is oil so low? What do you suppose is going to happen on Thursday when the two largest transportation giants stop bringing your stuff to COSTCO, Canadian Tire, The Port of Vancouver, The Port of Halifax, Sask Grain Pool, and so on, and so on... Do you really think the people who took the value of your money away in 2020 are going to be able to to get the Teamsters back to work??? haha, that's a good one. I do mean this when I say good luck to everyone, to all my fellow citizens, I sincerely hope that we can make it through this so that we can continue to thrive and give. That's a worthy aspiration.

[brianpereira]

The party really starts when the 5yr bond starts uninverting and curling higher

[cincin]

The thing to remember is that no one is having children and fertility rates are dropping dramatically year over year. There is no need for detached homes anymore as the ‘family’ unit is collapsing.

[robbieboyrobbieboy]

People will have no choice but nto live in condos. Detached houses are becoming more unaffordable. Once this new condo inventory gets absorbed, condos sales will skyrocket

[Cd]

I keep hearing people want single family homes and more homes need to be built to meet this demand but where is the space for this in Toronto, Mississauga, Oakville? There is no space. The only space for single family homes is far into the suburbs but no one wants to live that far away from GTA. Buyers need to change their mindset and realize condos are really the only option for first time buyers

[tylerdurden]

People may not want to live in condos or rentals, but they WILL live in them if all other options are unaffordable. This is the way the entire rest of the world works. It'll be no different here.

People don't want to live with roommates either, but they're doing it just to get by.

The future of Canada is rentals. The rental market will be very strong going forward. Rents have only softened a bit due to all the new condo completions. Once that added inventory dries up, it's going to resume where it left off.

[dirtlump]

The 'problem'.... is the now absolutely massive "store" of unserviceable cpi inflation valuated in Big Bank Mortgage Portfolios.... those asset "chattel" valuations now correcting "mark to Market" into still 4.5 Million Mortgages renewing (750K NEGAMS) here through Q4/2026.
Outright Deflation is now inevitable at any BoC rate into recession, albeit, still maintained positive above the zero bound on the 2% inflation target against any resurgence in "debasement" based Debt expension NOT serviceable within already all used up 'future' gdp/gdi capacity.
This is a Real Estate correction that will attenuate into a Debt crisis for Canadian Banks and the wider Canadian Financial just waaaay too much DEBT and not enough servicing income at any 'normalized' rate against debasement/resurgent speculation.

[CristianEnacheRealtor]

This fall of 2024 is set to be even better for our buyers. Remember the importance of location? Now, choosing the perfect spot has never been easier.

As for our sellers, preparing your property to its fullest potential is the key to securing the highest price.

#Canada #RealEstate #CristianEnache #Realtor

[GreenBeanGreenBean]

No new supply for the next decade and people think prices will go down guess what, there's a reason why you can't build in vancouver for 200k anymore.... everything that goes into that building costs 3x to 10x more.... so the price is 10x let me know when labour taking a large pay cut and city development taxes be going down.

Demand for housing is still at record highs, just that qualification is the bottleneck with these high we quickly turning into Mexico where the millionaires still build their waterfront million dollar and all the workers live in that is the result of high interest rates.

Builders don't build houses because they cost 2 mil or if you can't afford a condo then you sure can't afford a house.

[patrickgamache]

What's going to happen is with all these new rental properties? The government's going fill them up with new immigration and Taxes are going to go up and up. The builders know this why they're turned them into rentals.

[parthppatel]

More apartment means more rentals, more downward pressure on housing prices, means YOU AND I get to buy house at a LOWER PRICE !!! Yippee!!! But we'll have to wait a 1 year to couple years for this to play out..

[KrisH-yvnu]

Should not have sold that stupid yellow metal 🤣😂🤣😂🤣😂🤣😂🤣😂🤣

[Joe-mzdc]

Real estate agents on YouTube pretending that they're not part of the problem.

[insanegixxerdude]

1988 all over again. Yaaa buddy…cabs here! 😂

[dougpatterson]

People are much more willing to rent a suboptimal home than buy one. ON THE CONDITIONS THAT:
- it is short-medium term
- it is affordable
- it enables them to upgrade down the road by being affordable NOW