I think rental in Toronto has reached the ceiling…And the economy is headed south…pay has frozen for the last 10 years..only few can afford and the rest will crowd together and the landlords will not like that situation..rent has to go down
Canada's domestic economy is heavily reliant on a hot real estate market. If investors get sour on buying Canadian housing, so goes our economy. There will be winners and losers (mainly renters and prospective home buyers that still have jobs) but a net loss for Canadians in general.
The main problem of Canada’s economy is there are no new industries generating new jobs and the only thing fueling growth is domestic consumption and immigrants bringing in their assets from other countries. We need to grow new industries in Canada we’ve been selling beef and lumber for far too long.
Lower condo rent, lower condo prices, leads to lower detached home prices because no body wants to rent a basement if they can rent a cheap condo with view. Many people rely on renting their basement in order to pay for mortgage. Well that option is gone now.
My building is now offering cash to tenants who refer a friend. Mind you, their listed prices is still waaaay too high 3100 for a three bedroom in this building is ridiculous
Lmao then don't rent your house our😂😂 wtf do you expect bro. Part of doing business and the risk. Bro you already have such cash flow positive. Why don't you try opening a restaurant then it brick & motar business. You can also become a drug dealer too. That's easy money
Man I was made to pay 6 months rent upfront from you idiot "investors". I dont feel bad for you one bit. Ill enjoy buying a property at bargain prices in the next 3 years. I know you "investors" love to tag us renters as losers. Welp lets just say I have top 1% income in this country. Close to top 0.5% and I drive a toyota corolla. Wealth whispers. Good luck with your crappy attitude towards the middle and lower class. You reap what you sow.
They never drop substantially. I have heard that for the last 20 years, and they never dropped. Instead, they can stabilize for some time until inflation catches up
Ten units in the apartment building I live in Mississauga , for rent , NO renters, the new landlord drake property management making it difficult for the tenants ,so they are all moving out, fixing the new apartment charging 4000 dollars for an apartment .
@@PrimePropertiesTOThe best part about the new RE market is people actually have to learn market fundamentals. You make 100% of 0 if you refuse a reasonable offer, so it's better to offer things at a price that will move. Prices can't grow infinitely. If you ruin your relationship with your customer base, you will have no customers. It ain't 2021 anymore, it's almost 2025!
Sure, if you have 10-15 years to wait for the price to recover in real terms. A lot of Canadians can't absorb a major correction to house prices because they've based their finances on prices only going in one direction.
@@RealtorInTraining You don't need much new inventory when the population is set to shrink in the next 3 years. There's also a record amount of housing completions hitting the market in 2025.
I have the world's smallest violin for these professional landlords that have profited immensely over the last 4-5 years of artificial inflation and driven good people out of their homes. Rents need to come down by around 30-40% to where they were pre-covid (adjusted for inflation/demand/etc.)
buildings stop getting built and communities stop forming if the money stops, or even reduces. jobs, schools, retail, all depend on the cash these investors have been putting up the last 2 decades
@ I’m no economist and I understand that driving up assets is necessary for the capitalist growth model but I just don’t see how it is a sustainable proposition. It doesn’t happen in a vacuum, sooner or later the chickens will come home to roost & the bubble will burst. We are already in a recession. Homelessness is at an all time high.
Not true. Governments would just be forced to better allocate funds. Most of the tax generated from a hot real estate market is currently wasted on unnecessary programs. The other taxes that exist are more than sufficient for funding a reasonable level of government spending.
We can't afford your overpriced shoebox apartments. Can't wait till we see the landlords crying the blues after years of them squeezing every last dime they could out of renters. When you see landlords offering 1 month free and free tv's you know its their last ditch effort before they have to start to cut prices. Hope you feel the pain.
Totally agree!! That whole high rent debacle was nothing but pure greed. What did these landlords think would happen when they made rents unaffordable. People just seek alternative solutions!
serves them right for being GREEDY AF. renters aren't your Income providers .. it was to have money to HELP you in general and help renters have a place to live... NOT to PAY your Mortgage ... it is not our FAULT for your Financial leveraging or your financial situation and we are not the Solution to NOT WORKING.. we make less then all of you ..since you have a HOUSE or Condo lol I mean MAKE it make sense... GOOD I am glad it will go down. Need to be Humbled ... they literally treat renters like garabe and push away ACTUAL good people.. invasive as well . I would love to have BACKGROUND check on my Landlords.... yikes.. and I would love to talk to theri employer and know where they work and their income and their credit score and credit history... to know I am not renting from a SCAMMER or theft/con... or as they would likely say " dirtbage/loser/problem". I hope it is for CANADA across the Board... the rents in Calgary are an abomination ..
I can't speak for the City of Toronto, but Canada's housing shortage is getting bigger each month- despite federal government reductions in immigration. More than 70 percent of Gen-Z households cannot qualify for a mortgage loan on a 1000+ square foot home. So they must be rental tenants. Residential real estate investors are in retreat because (1) the federal government intends to raise the Capital Gains Tax inclusion rate on secondary residences to 88 2/3 percent, (2) most provinces have rent control legislation, and (3) the cost of borrowing is too high for them to make a reasonable return on investment within 5 to 7 years.
I've been expecting this for a while, I've been watching the rental stock go up higher and higher. This could be the final straw to shake out those "investors" who are already renting out condos in a cashflow negative situation.
People are stupid you still need a place to live rent wont go down considerably to make a difference. They will always still be high What do you think all of a sudden 1 bedroom in toronto will drop to 850
Their aunts and uncles live in India. Rupees converted to Canadian dollars is like 1,000,000 rupees equals about 5 cents in Canada. They won't be signing anything.
I wonder given you are a real estate agent who dumps on the Toronto market day in and day out, how are you making a living ? Don’t you rely on convincing people to buy over priced housing ?
Dat bubble just begining to pop. Silent depression not even lower intrest rates will save. This train is in motion towards that bridge outage. RUN FROM CANADA!
For all those people who think T is making idle threats, come January 21 youre going to wish you had never bought that house with 5% down. because RE goes down too.
The landlords with tenants wont lower rents. And my apt hasnt received needed attention in the 3 yrs ive lived here, yet they raise rent maximum amt yearly. A posted non smoking building, filled with foreign students smoking constantly.
Then the tenants should move, and those landlords will have empty units. Landlords only have leverage when there's scarcity. When there's a high vacancy rate, renters hold all the cards and landlords are effectively at their mercy.
We'll weather the storm for two years, and we'll see what 2028 brings when we finally catch up with virtually zero housing starts in the past two years.
Buddy. You can hold reverse auctions in a building so easy. Landlord needs to offer lowest bid. Sit and wait. Do it end of the month. For max pain. 😅😅😅
So let me get this straight, you cant just by a trash product at any price (over pay by double), charge a ridiculous amount and live like Robert Kiyosaki
@PrimePropertiesTO Your presentation doesn't say Q4 data of 2024 are projections. You're comparing actual numbers of Q3 FY2023 with projections of Q4 FY 2024 without telling it is projection figures!! It shows how little you know about the concept of data analysis!
Rents are too high and I say this having a few properties myself against my own interest….but…..the fact the tenant has more power then the landlord is totally screwed up. Rents should be lower and landlords should be able to dispose of their properties as they are pleased to be in a fair market
Let's hope rents keep falling and more and more people move out of canada. Yes slumlords will be collateral damage but honestly we have way to many people just sitting around collecting rent and surfing the net. We have way to many people sitting around living off rent not really producing any other service or goods.
Lower interest rates means most investors are back into positive cashflow. PBRs aren't any cheaper.... the cost to build them are the same to build a condo building... they will be charging the highest rate as well.... and will be the ones losing the most money if vacancy rates go up. They can't reduce their rents either or else they've basically lit their money on fire.
Some units are cash flow positive already. The purpose built rentals actually require more equity than a condo building. That's way more capital intensive. They won't know where rents because they'll their value due to low cap rates.
You have been ripping off the renters for decades creating and benefitting from market manipulation.There are 10s of thousands of Canadians including seniors living in tents this winter so pardon me If I dont give a crap that you wont get your 3k per month per unit.Rents should not exceed 1k per month for a 1 bedroom and less for a studio.
It was never supposed to be this high in the first place.
It's just about time it balances itself out.
I think rental in Toronto has reached the ceiling…And the economy is headed south…pay has frozen for the last 10 years..only few can afford and the rest will crowd together and the landlords will not like that situation..rent has to go down
Heading south alright to Florida
the whole country better hope not
how is this bad news? This means housing is or will become more affordable
Bad news for speculators
but the dollar goes to crap, everyone loses their job and nobody can afford to have a good life. yeah. awesome.
Canada's domestic economy is heavily reliant on a hot real estate market. If investors get sour on buying Canadian housing, so goes our economy. There will be winners and losers (mainly renters and prospective home buyers that still have jobs) but a net loss for Canadians in general.
Lower rent = lower inflation = lower interest rate by BOC
Lol.
That’s not the only component of inflation it’s not that directly related unfortunately we will still be screwed.
The main problem of Canada’s economy is there are no new industries generating new jobs and the only thing fueling growth is domestic consumption and immigrants bringing in their assets from other countries. We need to grow new industries in Canada we’ve been selling beef and lumber for far too long.
Money printing when you don't have a reserve status currency interest rates go up. You can't fool the speculators- just look at Britian
Affordable housing, how incredibly scary😱
Lower condo rent, lower condo prices, leads to lower detached home prices because no body wants to rent a basement if they can rent a cheap condo with view. Many people rely on renting their basement in order to pay for mortgage. Well that option is gone now.
My building is now offering cash to tenants who refer a friend. Mind you, their listed prices is still waaaay too high 3100 for a three bedroom in this building is ridiculous
Thanks for sharing. I would imagine that's a purpose built rental then they need the right rail to show highlights regardless of the incentive.
I’m more afraid of renters being protected for destroying my property, there seems to be no consequences for renters now who can do whatever
maybe an investment more within your risk profile would be better for you
some professional renters are only there to scope out the place, not pay rent and take everything.
Lmao then don't rent your house our😂😂 wtf do you expect bro. Part of doing business and the risk. Bro you already have such cash flow positive. Why don't you try opening a restaurant then it brick & motar business. You can also become a drug dealer too. That's easy money
Man I was made to pay 6 months rent upfront from you idiot "investors". I dont feel bad for you one bit.
Ill enjoy buying a property at bargain prices in the next 3 years.
I know you "investors" love to tag us renters as losers. Welp lets just say I have top 1% income in this country. Close to top 0.5% and I drive a toyota corolla.
Wealth whispers.
Good luck with your crappy attitude towards the middle and lower class. You reap what you sow.
I live in Toronto I helped landlords with bad tenants
Home price needs to drop substantially, but the government will probably do anything to prevent that
It's going to crash like a sack of potatoes. Wait until end of March
@ what even is there on March mate?
They never drop substantially. I have heard that for the last 20 years, and they never dropped. Instead, they can stabilize for some time until inflation catches up
Then people will lose jobs
Ten units in the apartment building I live in Mississauga , for rent , NO renters, the new landlord drake property management making it difficult for the tenants ,so they are all moving out, fixing the new apartment charging 4000 dollars for an apartment .
Sounds like they're trying to boost their rent roll.
@@PrimePropertiesTOThe best part about the new RE market is people actually have to learn market fundamentals.
You make 100% of 0 if you refuse a reasonable offer, so it's better to offer things at a price that will move.
Prices can't grow infinitely.
If you ruin your relationship with your customer base, you will have no customers.
It ain't 2021 anymore, it's almost 2025!
I’ve slashed my food budget drastically
Sorry to hear
Me too! I call it the Trudeau/Singh diet.
My family can barely afford groceries and Trudy gets 9k$ a month in free groceries
Who cares, real estate is long term. None of this doom and gloom matters. Same old story, on all of these channels.
I care, because this presentation will help me to argue with my landlord to reduce my rent not to increase it
Sure, if you have 10-15 years to wait for the price to recover in real terms. A lot of Canadians can't absorb a major correction to house prices because they've based their finances on prices only going in one direction.
10-15 years with relatively no new inventory past 2026?
@@RealtorInTraining You don't need much new inventory when the population is set to shrink in the next 3 years. There's also a record amount of housing completions hitting the market in 2025.
I have the world's smallest violin for these professional landlords that have profited immensely over the last 4-5 years of artificial inflation and driven good people out of their homes. Rents need to come down by around 30-40% to where they were pre-covid (adjusted for inflation/demand/etc.)
buildings stop getting built and communities stop forming if the money stops, or even reduces. jobs, schools, retail, all depend on the cash these investors have been putting up the last 2 decades
@ I’m no economist and I understand that driving up assets is necessary for the capitalist growth model but I just don’t see how it is a sustainable proposition. It doesn’t happen in a vacuum, sooner or later the chickens will come home to roost & the bubble will burst. We are already in a recession.
Homelessness is at an all time high.
Not true. Governments would just be forced to better allocate funds. Most of the tax generated from a hot real estate market is currently wasted on unnecessary programs. The other taxes that exist are more than sufficient for funding a reasonable level of government spending.
We can't afford your overpriced shoebox apartments. Can't wait till we see the landlords crying the blues after years of them squeezing every last dime they could out of renters. When you see landlords offering 1 month free and free tv's you know its their last ditch effort before they have to start to cut prices. Hope you feel the pain.
Totally agree!! That whole high rent debacle was nothing but pure greed. What did these landlords think would happen when they made rents unaffordable. People just seek alternative solutions!
serves them right for being GREEDY AF. renters aren't your Income providers .. it was to have money to HELP you in general and help renters have a place to live... NOT to PAY your Mortgage ... it is not our FAULT for your Financial leveraging or your financial situation and we are not the Solution to NOT WORKING.. we make less then all of you ..since you have a HOUSE or Condo lol I mean MAKE it make sense... GOOD I am glad it will go down. Need to be Humbled ... they literally treat renters like garabe and push away ACTUAL good people.. invasive as well . I would love to have BACKGROUND check on my Landlords.... yikes.. and I would love to talk to theri employer and know where they work and their income and their credit score and credit history... to know I am not renting from a SCAMMER or theft/con... or as they would likely say " dirtbage/loser/problem". I hope it is for CANADA across the Board... the rents in Calgary are an abomination ..
I completely agree with you
You speak the truth.
Renters have been footing the bill for landlord lifestyles for 15 years now. That's not how it works.
I can't speak for the City of Toronto, but Canada's housing shortage is getting bigger each month- despite federal government reductions in immigration. More than 70 percent of Gen-Z households cannot qualify for a mortgage loan on a 1000+ square foot home. So they must be rental tenants. Residential real estate investors are in retreat because (1) the federal government intends to raise the Capital Gains Tax inclusion rate on secondary residences to 88 2/3 percent, (2) most provinces have rent control legislation, and (3) the cost of borrowing is too high for them to make a reasonable return on investment within 5 to 7 years.
I've been expecting this for a while, I've been watching the rental stock go up higher and higher. This could be the final straw to shake out those "investors" who are already renting out condos in a cashflow negative situation.
dropping interest rates has pushed most buyers back into positive cashflow.... people that have held for a while are definitely making money.
@@GreenBeanGreenBean Rates will spike higher next year as inflation soars.
@@GreenBeanGreenBeanlol I swear you're either on drugs or need drugs.
People are stupid you still need a place to live rent wont go down considerably to make a difference.
They will always still be high
What do you think all of a sudden 1 bedroom in toronto will drop to 850
😂😂😂😂 right? Well find the bottom shortly.
Keep wishing and maybe your wishes will come true.
most of the 5 million people wont be leaving because there is no effective mechanism to do so. their aunts and uncles will sign leases for them.
Their aunts and uncles live in India. Rupees converted to Canadian dollars is like 1,000,000 rupees equals about 5 cents in Canada. They won't be signing anything.
@@parkerbohnn indians have 17 aunts and uncles and at least one of them owns 3 houses in brampton
Just wait till we get 2M more randos in 2025
I wonder given you are a real estate agent who dumps on the Toronto market day in and day out, how are you making a living ? Don’t you rely on convincing people to buy over priced housing ?
because these scum bags are using a joint scare tactic effort on social media to scoop up deals for themselves
Dat bubble just begining to pop. Silent depression not even lower intrest rates will save. This train is in motion towards that bridge outage. RUN FROM CANADA!
Trump was elected interest rates are going higher not lower.
For all those people who think T is making idle threats, come January 21 youre going to wish you had never bought that house with 5% down. because RE goes down too.
All temporary workers if they are employed and citizens are unemployment… what happens trw 6 people stay in 2 bedrooms
McDonald's dont pay that much
Still not affordable, should be more lower
The landlords with tenants wont lower rents. And my apt hasnt received needed attention in the 3 yrs ive lived here, yet they raise rent maximum amt yearly. A posted non smoking building, filled with foreign students smoking constantly.
Sorry to hear. Unfortunately this sounds more common than most thing.
Then the tenants should move, and those landlords will have empty units. Landlords only have leverage when there's scarcity. When there's a high vacancy rate, renters hold all the cards and landlords are effectively at their mercy.
Trudeaunomics at work for the people
Kick that pothead out of Ottawa.
Woohoo 🎉🎉
Lots of people are going to be finding out for the first time that all investments have risk, including amateur landlording.
We'll weather the storm for two years, and we'll see what 2028 brings when we finally catch up with virtually zero housing starts in the past two years.
Spoken like a strong condo investor 💪
Buddy. You can hold reverse auctions in a building so easy. Landlord needs to offer lowest bid. Sit and wait. Do it end of the month. For max pain. 😅😅😅
Trump tariff can lead to interest rate hikes to 8 percent to stem inflation
I think it’s a buy the dip opportunity
Depends on your financial situation. Not one size fits all
So let me get this straight, you cant just by a trash product at any price (over pay by double), charge a ridiculous amount and live like Robert Kiyosaki
Wow! Rent in TORONTO is cheaper than SURREY 🏘🏃♂️🏃♂️🏃♂️🏃♂️🏃♂️🏃♀️🏃♀️🏃♀️🏃♀️🏃♀️
@PrimePropertiesTO
We're in December 2024. How could you present data for the Q4 of 2024?!
This can't be published before January 2025!!
Those are projections based on earnings
@PrimePropertiesTO
Your presentation doesn't say Q4 data of 2024 are projections. You're comparing actual numbers of Q3 FY2023 with projections of Q4 FY 2024 without telling it is projection figures!! It shows how little you know about the concept of data analysis!
Rents are too high and I say this having a few properties myself against my own interest….but…..the fact the tenant has more power then the landlord is totally screwed up. Rents should be lower and landlords should be able to dispose of their properties as they are pleased to be in a fair market
Doubt that'll be happening anytime soon in Ontario.
2 words = Owner-occupied
💪💪
Show must go on
Let's hope rents keep falling and more and more people move out of canada. Yes slumlords will be collateral damage but honestly we have way to many people just sitting around collecting rent and surfing the net. We have way to many people sitting around living off rent not really producing any other service or goods.
Right? Thank you!
I don’t feel so good condo sisters
Really depends on when you bought
Just subbed
💪💪
Rent will go down more
If Justin T resign .
Fake news
Lower interest rates means most investors are back into positive cashflow.
PBRs aren't any cheaper.... the cost to build them are the same to build a condo building... they will be charging the highest rate as well.... and will be the ones losing the most money if vacancy rates go up. They can't reduce their rents either or else they've basically lit their money on fire.
Some units are cash flow positive already.
The purpose built rentals actually require more equity than a condo building. That's way more capital intensive. They won't know where rents because they'll their value due to low cap rates.
We went from not enough to we have too much. lol so dumb
Welcome to Canada lol
The inflation will balance itself
Are you running for Prime Minister soon? Lol
"You'll forgive me if I don't think about monetary policy." -- a former drama teacher
What population decline are you talking about??
BE WARNED! If you move to Toronto, you'll have to live with Canadians ALL AROUND YOU!
Sounds like a positive to me lol
Canadians would be fine with me. Non Canadians filling the streets with hate and protests is the issue.
You have been ripping off the renters for decades creating and benefitting from market manipulation.There are 10s of thousands of Canadians including seniors living in tents this winter so pardon me If I dont give a crap that you wont get your 3k per month per unit.Rents should not exceed 1k per month for a 1 bedroom and less for a studio.