Thanks, Tom. I appreciate these market updates. We have had our investment condo since 2010. People who thought Condo ownership would be a quick flip are now facing the reality of today's marketplace. If the investors are currently in a negative position, rent out the Condo and write off the expense including the mortgage interest. This loss can be used as a carry-forward loss against personal income depending if the condo is personally held. Today's marketplace is in a " Hang-on Stage" if you can. These market dips are the reality with any investment and need to be factored into any investment holding.
Investors are leaving not just B/c of interest rates & current slump, but Ontario’s (same BC) policies and Tenancy Boards heavily favoured tenants and punished, no slaughtered, landlords… Why very few people buying presales today… Province will see the effects few years from now…
Condos are such a hot potato scam. The person in the end loses when the building croaks. Even newer ones if theres a major flaw completely screws the owner. At least you made money bro
Investors hammered --> 1) buy Pre-Con: get hammered by 3 levels of taxes; come closing the Developer often doesn't deliver on what you bought but governing bodies favour the Developer which doesn't have to make reparations or good on what Buyer was sold; 2) Buyer gets a Tenant and ya better have yourself a good Realtor helping to vet the best Tenant or you guessed it, LTBO favours the Tenants. No bank/ no bank ever favours Landlord and no money/ no property. Funny that when the balfiff shows up to take your property, suddenly evicting Tenants is a no brainer. Oh, and let's not forget the double of not just home prices and interest rates, how bout the insane increase in insurance rates/ continued municipal taxes and... condo fees which can easily double at time of Closing!!!
So I agree with mostly everything you said there is just one glaring fact here thats kind of interesting. Only 6% of the market is under 500 sq ft and thats the price point with the highest demand. I believe that Demand is starting to outweigh supply in that market and this price point could push up the market a little bit quicker than anticipated
@@lisay3856 Not investors. First time buyers. affordability leads to demand in this price range. I sell a ton of condos. I can see it from the ground up
Hello TH-cam Star- I have watched all your videos. Your videos are very nice but there is some problem with your channel. Your channel is not optimized properly and your channel SEO score is very low, so your channel is not getting good views. If you solve your channel problems, your subscribers will get many views. If you know more details please Drop a reply! Have a Good Day Alamin
Great Content to make decisions!
Thank for the video! Just subbed
Great content. Thank you.
Very informative video. Thanks for sharing your thoughts Tom!
I love these videos, they are professional, fact based and balanced
Thanks, Tom. I appreciate these market updates. We have had our investment condo since 2010. People who thought Condo ownership would be a quick flip are now facing the reality of today's marketplace. If the investors are currently in a negative position, rent out the Condo and write off the expense including the mortgage interest. This loss can be used as a carry-forward loss against personal income depending if the condo is personally held.
Today's marketplace is in a " Hang-on Stage" if you can. These market dips are the reality with any investment and need to be factored into any investment holding.
Another great video. Keep up the good work!
Investors are leaving not just B/c of interest rates & current slump, but Ontario’s (same BC) policies and Tenancy Boards heavily favoured tenants and punished, no slaughtered, landlords… Why very few people buying presales today… Province will see the effects few years from now…
Thanks.. Great information...
Great content. Condos are a disaster. Our company holiday party was at a steakhouse last year. This year, more like pizza party.
My company used to give a week off during Christmas. They canceled the week off, and we have bare minimum holidays.
Condos are such a hot potato scam. The person in the end loses when the building croaks. Even newer ones if theres a major flaw completely screws the owner. At least you made money bro
Great analysis on the future of the Toronto condo market!
Investors hammered --> 1) buy Pre-Con: get hammered by 3 levels of taxes; come closing the Developer often doesn't deliver on what you bought but governing bodies favour the Developer which doesn't have to make reparations or good on what Buyer was sold; 2) Buyer gets a Tenant and ya better have yourself a good Realtor helping to vet the best Tenant or you guessed it, LTBO favours the Tenants. No bank/ no bank ever favours Landlord and no money/ no property. Funny that when the balfiff shows up to take your property, suddenly evicting Tenants is a no brainer. Oh, and let's not forget the double of not just home prices and interest rates, how bout the insane increase in insurance rates/ continued municipal taxes and... condo fees which can easily double at time of Closing!!!
Good video. Thanks. But drop the loud music at the beginning.
Decent video, I love the loud music! Rock on Tom
Thanks for the video, I was rushing to purchase by the end of the year but may aim to close January 2025 now.
Thanks for watching. Hope it was helpful.
My condolences for those who bought property after 2022 because you are so screwed 😂
Maybe the government should stop assisting failed mortgage borrowers and pumping the market then builders would list for realistic prices
The problem is the economy has become completely dependent on real estate l if they do that Canada collapses completely
@@anthonym9130 ^ well said
@anthonym9130 Correct. Unfortunately, Canada does not truly produce hight value-added goods (ratio-wise).
First 🙌🏾
19,000th
I think I'm too old for these videos, I was overstimulated in the first 30 seconds and had to bail. Looks like good content though.
So I agree with mostly everything you said there is just one glaring fact here thats kind of interesting. Only 6% of the market is under 500 sq ft and thats the price point with the highest demand. I believe that Demand is starting to outweigh supply in that market and this price point could push up the market a little bit quicker than anticipated
Are you sure that
@@lisay3856 Not investors. First time buyers. affordability leads to demand in this price range. I sell a ton of condos. I can see it from the ground up
I am hoping to purchase in 2025 at a good price.
Use an experienced realtor like Tom and you’ll be happy in 10 yrs when it doubles in price!!
@RC-fh2lk do the condo fees also double in 10 years?
@ yup
Same
Condo will go back to $300-$450k soon 😂😂😂
I'd rather be watching the Real Canadian Real Estate show. I know you're reading this T and D. Lol.
Never heard of them ;)
@@TomStorey they are really good and informative
@@reds1122 they are likeable goofballs. TTSS is much better
@@reds1122 and get about 5x the comments
Hello TH-cam Star- I have watched all your videos. Your videos are very nice but there is some problem with your channel. Your channel is not optimized properly and your channel SEO score is very low, so your channel is not getting good views. If you solve your channel problems, your subscribers will get many views.
If you know more details please Drop a reply!
Have a Good Day
Alamin