2024 Toronto Condo Market | Boom Or Bust? 📈
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- เผยแพร่เมื่อ 18 พ.ค. 2024
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Video Chapters
00:00 - Intro to Condo Market
00:14 - Buyer Types
00:40 - Book A Call
01:09 - Factors for Buyers/Sellers
01:23 - Market Trend Analysis
03:14 - 2024 Predictions
04:36 - Key 2024 Factors
06:41 - Buyer Strategies
09:59 - Seller Advice
11:38 - Closing Remarks
The opinions expressed herein are solely that of Tom Storey, not Royal LePage or the TRREB, and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement. This is not financial advice. - บันเทิง
![[TH] 2024 PMSL SEA W2D4 | Summer | โอกาสสุดท้าย ของสัปดาห์สอง](http://i.ytimg.com/vi/aswciGrYovo/mqdefault.jpg)
It's not so simple. The rates would need to plummet for prices to really move upward. The next 6 months will be fascinating to see for the 600K mortgages up for renewal
Agreed. But you could see 3-5% price growth with today’s rates and low inventory. Just like we saw in the first 6 months of 2023. It’s anyone’s best guess. I think it is that simple. People love to overcomplicate it.
Summer time is going to be ugly. Lots of people coping and convinced themselves that is the magic time when interest rates will drop. Let's see if that happens, they better pray every single morning and night that it happens. IF that doesn't come true, it's going to be a bloodbath. Everyone will try to sell and sellers will be begging people to buy their condos. This will be mostly from the investors of condos that no longer have a positive cash flow from it.
Absolutely. A rate drop won't happen until the US economy is in recession, which is very unlikely.
Job losses are fast and furious. Not tough to tell they are in the middle of one now lol. The lag is long
Even if rate drop it is coming from a weak economic condition so its not to save the house markets but slow down the economic deteriorated economic condition. Just look at 2023 December employment only 100 jobs are added, the expectation is 15000, its not even close. This one bed condo is toast, we want a raise a family. This one bed condo just won't cut, i believe a bloodbath for the toy condo.
one of those 100 was me coming out of retirement lol@@tomacml5741
Even when rates do eventually come down it will only be .25 which won't do much, nevermind the fact that rates aren't actually the only issue. It's sentiment as well. If people think prices are falling or at risk of falling they won't want to overpay. They will hold off.
With rate cuts coming, prices will surge again. Simple as that.
Core inflation stuck at 4% for months and you speak of rate cuts? stop watching the main stream media. No cuts in 2024.
Nope. They would go down even more.
@@workpulkit I’d like to hear why you believe that.
If rates come down by a significant amount, it means that unemployment is up and we are in a hard recession. This means that people will be forced to sell eventually because of inability to pay their mortgages.
good time to bankrupt your friends in a real life monopoly game@@keithiverson6687
in summer there will be MORE inventory but no buyers as it is now.
Hi Tom, love your content. Would you take 5.59% for 4 and 5 year fixed term or 5.85% for 3 years fixed or variable considering current forecasts? Thanks!
I would personally take the 3 year fixed, but I would want to know the penalty first.
Scotia Bank offer 5.23% for 3 yr fixed for rental condo yesterday
CIBC offer 5.5% for 2 yr fixed for self use
Bust in 2024. Boom in 2025!! 💯
Condo market in my area is on fire again. Such different markets.
Fleetwood baby!! If I had liquid cash I'd be calling you Steve-o
I think it will take about 2 years to see low 2 percent interest rates again and if you can hold on to your investment by renting even if you loose some, you will still be better off when selling when it’s sellers market 🎉 but if you’re desperate then best of luck 🤞
Rate cuts come when shit hits the fan lol
It's hit already, our leaders are just insulated.
Condo market will be frozen in 2024 because investors are seller's not buyer's so you eliminate 70%of the buyer's market. Negative cash flow is the killer.
If you're under 40 you must buy as much RE in Canada as you can, then hold at least until you turn 60 and thank me in 2043 or later. Hire Tom in TO if you want the right direction there, if not then definitely find a wise investment savvy Realtor to navigate the purchase. Eat your heart out Bill Ferguson.