First We Tried Tiny Condos, Now Are Tiny House Rentals Going to Help Our Housing Crisis?
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- เผยแพร่เมื่อ 11 มี.ค. 2024
- #torontorealestate
Connect with me and my agents at Realosophy Realty to discuss your personal real estate situations here:
www.movesmartly.com/meetjohn
Today, I discuss the perennial question most people have about Toronto's housing market - is it a bubble that's about to burst?
Read my accompanying blog post here
www.movesmartly.com/articles/...
To learn more about the last time I called Toronto's housing market a bubble, check out my reports below.
My 2017 report - Freeholds on Fire: How Investor Demand for Houses is Driving Up Prices in the Greater Toronto Area
www.movesmartly.com/investors...
My February 2021 report - Toronto’s Suburban Housing Bubble
www.movesmartly.com/move-smar...
Connect Further:
X-Twitter: @JohnPasalis
Email: askjohn@movesmartly.com
#torontorealestate
Yes let me turn my house into a rooming house. I should be able to do it
Thanks John! Interesting and informative as always. I'm living in Switzerland for six months, and oddly they just seem to build comfortably-proportioned family-sized units. I don't know if that's due to their zoning laws or what, but the micro-unit isn't a thing over here as far as I can tell.
means government asked people to help to resolve housing issues, then the home owner's put big $$$$down, build extra units, then tenants do not pay rent, the owners wait for 10 to 12 month to evict tenant's , still can not get the rent vack after evictions
Great analysis as always John. My “problem”, if I can call it that, is what prevents so many from bringing supplemental supply on to the market. I have a home. I’d like to add a suite, generate some income, etc. After watching friends go through the nightmare of permitting and dealing with Toronto inspectors (when they show up, ill-informed) why the hell would I do any of that? The very people with the ‘room to spare’ are often older and with the equity on tap. 24-30 months to generate what, $1500 a month to pay down the $150-250,000 it costs for the job? Costs aside, the thought of dealing with the city turns my stomach.
You can’t build more square footage and keep prices low in the downtowns. You need housing to spread out. The government needs to have a master plan to allow new housing supply and focus on providing infrastructure for efficient transportation both roads & public transport. There’s no point of having small transport authorities in each city like TTC, Go etc. it should be 1 for the Greater Metro Area so this can be coordinated efficiently.
Advocates try to fix something and always end up breaking several other things.
Thanks for the informative talk. Referring to tiny condos, I really would like to know more of your thoughts about it. Do you still consider the downtown tiny condos as a good investment in the furture? Due to the trend of building such units, it seems to me that this large amount may not be comsumed by the market in the future. Especially considering the decentralization tendency.
Great points to consider closely.
But I’d love to know your thoughts on mega mansions with 2 people living in them with double lots in some cases. What should their property taxes look like since they are swallowing prime real estate to let the rest of us know how wealthy they are. And good for them!! I wish it for everyone but, you have to pay a ransom to build 15000 sq/ft on an acre or more for 2 people who travel half the year.
Developers should be free to develop how they see fit. The wealthy can.
The typical condo investor has disappeared because the math doesn’t make sense so I don’t think that the freedom to build whatever means micro condos will be built. The market will dictate what gets built.
I’ve preached for 3 years why developers don’t build multi unit homes on the same lot - and now some are because the market needs these types of homes.
To close, I simply don’t want the government getting involved in developing anything other than for the needy because they only screw up everything else they touch in their quest for political points. Especially in Ontario and Toronto. Affordability has to be removed from the discussion because what it means for some is certainly different than for another - irrespective of who tells us how to measure affordability.
Hi John and thank you very much for this interesting idea about increasing density, but there's no place that I've heard you mentioned increasing the capacity of the infrastructure to support this higher density. If you're going to have three times as many washrooms and three times as many loads on electric circuits, is this something that needs to be built before we can go ahead with intensification?
Let China build the tiny house if Canadian can't build houses cheap enough
Can you please do a presentation why Garden Suites have been such a failure? 645sft back yard ADU's have been mush more successful in other markets.
You and your gang, keep talking and talking and talking.People seem to enjoy your narrative and pour out their hearts to you....yet i never see a response? ''you don't find the time, you make the time'' Joan Crawford. i am sure a response would make most of these viewers happy. Astounding..you want people to listen to you and yet you do not acknowledge them.
Hey Mommy Dearest, you know it’s not a phone-in talk show, right?
Although twenty 300sf units may generate more rent than four 1500 sf units, are we sure that the former is really more profitable? Building many small units costs much more than fewer large units, so if we looked at this in a total cost and total revenue across all units I'm not sure that building smaller units is profit maximising. Isn't what is driving the drive to smaller units is that builders and unit purchasers are looking at the cost per unit as a result of capital and financing constraints. My hypothesis is that if you looked at the typical condo building on a whole building level the unit mix made up of predominantly small 1 br units is not profit maximising, but is cost minimizing on an individual unit level. I don't have data to validate the hypothesis, John would you be able to test this?
Until gov will not energize investments into transit expansion, people will clutter around city centres pushing prices / sqft up.
Population should be spread evenly with communities around and access to walking distance network of amenities.
Ummmmmm no. There are infrastructure issues with this "out there" proposal. You can't go from one kitchen and three toilets in a building envelope to 20 kitchens and forty toilets ... without dealing with water, electrical and sewer infrastructure...
Can you imagine garbage day??? How shall we line up the 20 blue bins at the end of the driveway.. oh yes.. .right there, next to the five foot high mountain of trash... So... no.