Toronto Home Prices Could Reach Peak Levels by 2025 (CMHC Report)
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- เผยแพร่เมื่อ 8 เม.ย. 2024
- Toronto Home Prices Could Reach Peak Levels by 2025 (CMHC Report)
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I love CMHC's predictions.... the opposite ends up happening 😂
They were right on the last report tho.
Do they connection with God? How can they know future ?
@@PrimePropertiesTOwhich report ?
This is just bluff … who is going to buy ?
@PrimePropertiesTO I'm sorry which report... amidst unemployment climbing... BOC cutting up in the air... how are we suppose to peak in 2025? That's an upside of more than 40% in some areas. IMO this will not come into fruition. Maybe they have a crystal ball
@@ragurajaguru incomes skyrocketing, lower financing costs (eventually), and absolutely no new supply.
don't you know CMHC is the house inverse index? whatever CMHC said, we just need to follow opposite direction! Never have that accurate correlation -1 level , only CMHC can make it!! Amazing
😂😂
What’s the matter… sales low? No commission these days. 🤔.
It’s laughable that housing prices will peak in’25
maybe CMHC is concerned about my income lol
This report was most likely written before OFSI said they will be putting the 4.5 LTI cap on mortgages, and as Zhen said before the government said they will be greatly reducing immigration.
Each and every time the government makes a rule - the housing market skyrockets. No one believes me. By 2027 we will see 2022 prices again. Stay tuned
@@Lifeisapartydresslikeit So hope is your strategy... good luck with that.
I suspect so too.
@@Jo-mf2vu actually, hope is YOUR strategy.... lol!
Exactly my point Greenbean. @Jo-mf2vu I’ll be back here in 2027 to laugh at you. Are you telling me homes won’t be worth $200,000 more than what they are now? You’re out to lunch. Hope should be your strategy!! I’ll bookmark this. Always remember the government is suffering when sales are down in real estate. Soon the market will be stimulated and you’ll see people bidding up homes again. Who do you know who doesn’t want to own a home? Especially with more condos and townhouses being developed. I have a detached home and two townhomes as rentals and I’d never purchase a townhome again. Detached homes aren’t commonly built anymore and will be more favourable so naturally the housing market will get back to the 2022 peak. I’ll pray for you though. Worse, if they change the amortization rules!! From 30 to 35 or 40 years. I’m here with my popcorn 🍿- let’s watch and see
Why rush to sell likely dropping price? I was going to sell but now I keep. Collecting rents isn’t better?
Depend son each persons finaciail situation. If you have 1m in cap gains, not uncommon, its a big hit.
Condo investors beware. You will be competing for renters against a government that will be bringing large quantities of purpose built rentals online in the next 5 years (many at below market rents). This will put a ceiling on rents and downward pressure on the value of your condo. Cash flow negative with a flatlining value of your investment, spells doom. The only decent store of value real estate option now is single detached. They are not building those anymore. The number of single detached homes expressed as a percentage of what will be exploding total housing stock will fall dramatically in the next five years - making this form of housing much more valuable over time. You are much better off partnering with someone if you can't afford a detached on your own, as opposed to picking up a condo on your own.
Or, how about folks who just don't want to spend $900,000 on a rundown, teardown freehold?
If you read my post, you will know that I was referring to investments. I’m not suggesting that you would buy a $900,000 rundown shack to live in yourself. As a store of value, single detached homes, regardless of their condition, are poised to rise more quickly in the next 5 to 10 years than any competing form of housing.
Duly noted. I will exit by 2050 when they finally complete all the studies and public hearings of such developments.
You may want to consider getting out a touch earlier…. lol. The government at all three levels is taking rental housing as an “all hands on deck” priority… Any existing or potential politician that dares to ignore this crisis… shall do so at their own peril!
@@rdefacendis Right. Only 10 years too late. Everyone with half a brain saw this crisis coming, but nobody was angry as their homes kept going up in value and other inflation remained low.
The real question is what is going to lose value faster. Paper money or real estate?
the one that is least scarce
Potentially yes bc the amount of ppl on the sideline waiting.
More people on the sideline waiting to sell than you realize.
@@Jo-mf2vu waiting to sell for higher prices yes.
@@baseline6786 As Zhen said they will probably all come on at once when first rate cut comes, that will push MOI way up, and sellers will be forced to lower prices to sell. Buyers won't be competing for a 25 bps cut in variable rates.
@@Jo-mf2vu it will bring buyers out too. And sellers expectations for higher prices and holding out for these higher prices. They didnt just wait the last 2 years to lower their prices if they don't have to sell.
@@baseline6786Most buyers these days are planning to live in the property they buy. And most of those have already bought or are already in the market. The influx of buyers you are hoping for are the speculator group, but they aren't coming back without a 200 bps drop in variable. Meanwhile current speculators are bleeding money on properties they wanted to assign before they were forced to close. Many have taken on really expensive loans to make it happen. They are hoping to cash out with higher prices that hopefully will cover what they have invested, no profit, just enough to save face and be able to say they did not lose money. There is a lot of bad situations out there. Buyers have the upper hand. Even with rate cuts.
But apparently condos will never go up $1 again?
how much is your rent?
@stephenn88 $0. I bought. So called condo 'investors' in the last 10 years did not make it easy.
@@andrewmccoll1582 so why are you crying like a babe
@stephenn88 because the condo investors (who live in nice freehold homes) drove apartment prices up stupidly high, and eliminated potential for good future appreciation on them (shafting FTHBs one last time who can now only afford a condo). Oh, but they'll keep seeing their large detached houses go up 10% a year.
It will lol. Just low compared to freehold.
i wish my salary goes higher next year
Fingers crossed for you
Yes so many immigrants coming to the country
Not for long.
@@PrimePropertiesTO well rumor has it Trudeau is gonna announce a mortgage change in budget next week and people think it is extended AMs for people putting less the 20% down, how will that fuel the market?
I'm not sure why this is surprising. Even if it reaches its peak again by 2026, the house will have lost close to 15% of its value when you account for inflation since 2022.
Bingo!!
Yupppp
RIP Canada time to leave