I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Mind if I look up your advisor please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
I've been stuck with the popularly ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for putting this out, it has rekindled the fire to my goal... was able to spot Melissa Terri Swayne after inputting her full name on the web, she seems highly professional with over a decades of experience
The greediness of the construction industry has built some small apartments of 400 square feet. I called them pigeon holes. I would like to see some of those builders live in them.
@@justinjones5281 It is greed. The government was selling these condos for the last ten years + to non Canadians overseas, this is what began the uptick in OVERPRICED condos. Look at markets in the US, Chicago, North Carolina - a 500sq ft condo is nowhere near $1M. Government greed, corporate greet, policy incompetence and corruption is how the market got here.
A 1m home if CMHC insured you would need 100k down minus 28k CMHC insurance = 928k mortgage for 25 years. At 5% interest it would take 16.5 years to reduce the mortgage to 500k where you would not lose your deposit. Monthly payment: $5,397 Total interest: 691k Investing the same 100k held in a TFSA into S&P 500 after 16.5 years = 459k (tax free). Invest 100k plus $5397 every month for 16 years = $2,912,012
This price correction is a loooong time coming, so it's hardly shocking. The only way condo investors can avoid losing a big chunk of their investment by selling is obviously to turn those condos into rentals, which would provide a much needed supply of rental units, especially in Toronto. That's the silver lining of this whole mess.
Anything.... is only 'worth' what someone else is willing to Pay ! With 40,000 GTA Condo's being completed ~24 Months.... YOU put a Deposit on it ? now it's ready so time for YOU to Pay for it ! This is what happens when your turn Real Estate market into no more than playing a 'leveraged' BET at a Casino.... YOU LOSE ! or default and don't close..... and let them chase YOU and thousands of others in court ! Good Luck with that !
It's no different than people buying Blackberry stock at $100. They thought it was going higher. Chances are you've never made any money or you wouldn't be criticizing people for taking risks. Even if those risks look foolish in hindsight
@@roadmap999how exactly did I criticize people for getting caught up in the hype. 🧐I merely stated a fact. Research it. People were lining up overnight. Some greedy people bought entire floors. It worked for them in the past🤷🏻♀️
In "Popular delusion and the madness of crowds" the author documents the rise and fall of speculative manias and comes to the conclusion that a 80 to 99% fall is usual. When you add in the collapse of the CDN dollar against its peers, as a tool used by the feds to stop further declines, well probably hit a 80% decline. After all the only reason to buy a micro condo is to recoup some "rent" as you move up to a SFR, and once it's generally understood they are just money pits, they don't have much value either as a potential residence or a store of wealth.For those that think RE in terms of condos is a great investment, I suggest you read up on the Florida condo market. Between highten insurance cost and potential building assesments to cover engineering problems many can't be given away.
Wise up! Housing is going to fall to its utility value. Bitcoin is the new piggy bank. Property is finished as a storer-of-value. Just a little advice from your friendly neighbourhood Spider-Man.
@@donm2067 in a realistic housing market home prices should go up 3-5 % every year. Not 30% every year . In the last 5-7 years prices have been going up 30% per year and it is not good for the economy and for the people who are buying them .
Are you going to, at some point, talk about how builders enriched themselves unduly and sold at 2000 a feet? And if you do, would you be able to name a few of the builders who did so... as you said you know what buyers bought at, which would mean that you'd probably know which builders they bought from. It'd take a bit of courage and I am quite sure you have it! Right? Or maybe I am wrong.
It would not be slander if it's backed by facts and evidence. I don't think the cost climbed that high. Maybe 50%... but condo proces went higher by 200%... i know there may be other factors involved... like cost of land... varies from place to place... you are a pro at this and could easily gather evidence 😊
@@sajidrizvi1509 the lending parties are the most to blame. Government handouts plus policies drove prices higher. Banking systems were incentivized by the government as well. This is a a real problem that has nothing to do with business owners
If you bought this as a primary residence, it should not matter. You bought a place based on what you could afford. You saw enough value in it to pay what you paid. If you bought purely as an investment, those are the risks. Many thought it was easy money but it takes away inventory from those young couple looking for their first place to live and drove up the cost to unreasonable levels. No sympathy for those speculators who over extended themselves looking to make a quick buck. They are a big part of the reason why home affordability is so out of reach.
The Canadian dollar is dropping like a stone due to our debt to GDP. Unfortunately the grossly overpriced real estate must crash hard to begin fixing this very serious problem.
LOL The Canadian dollar is dropping compared to the US because Canada is lowering interest rates while the US isn't. It's got nothing to do with debt to GDP LOL.
What about pre-construction been sold today (pickering) for 2028-2029 i see some starting at high 300s (studios) to 600(two beds) is that price raking into account the downwards trend ?
FYI the condo resale market is starting to turn... Youre 100% right on precon who bought 3 yrs ago. However is someone bought 5 yrs ago then they would still have made money
You know what is the worst thing about this? I remember wanting to buy a condo in the greater Vancouver area and I couldn't. New developments were selling and preconstruction, saying "contracts will be offered on Saturday, starting 9AM morning at ... location.". On that day they were supposed to offer whatever they had to the general public. Comes that Saturday 9AM and right away they declare everything is sold. The only available condos are the highest priced ones 3bd. The realtor said to us "Many of those condos went to friends and family of the developers", which was not true because I know another realtor who told me when interest is really high they will find a way to stop the sale and increase the price. We literally couldn't buy what was advertised because of the greed of these people. One would have to offer significantly more for someone to "drop out" and get the condo. I am for the free market but they could make less predatory tactics and lies, they could put the higher price easily and filter out the lower-end of the buyers. But no, they wanted to inflate the demand by all means, and thus we have this craziness today. It would be like selling apples and hiding most of them to create demand and increase prices. How is this legal even!? Surrey was notorious for these practices.
Is it shoking to see realestate going down 50%. Nope. In Canada, the realestate is like investing. I invest in stock market, I have stocks that are still down 60% for almost 3 years. It is just the cycle of the market. The problem is that in realestate you have leverage because of the mortgage, so the risk of gain and lose is higher. For my stock investing, I don t borrow to invest. I buy with what Im comfortable to lose
If condos built two years ago and are now closing in 2024 are at $1500/sq. ft. what are new builds being marketed at? If these new marketing programmes, pre construction is marketing not selling a real product, are not offering prices at $1000/sq.ft. then why not?
Wait until T gets his tariffs in. I bet a lot of firms are putting together their layoff list now. And you can be sure many of them are strung out on RE debt. Its like Canadians had a perfect example watching the US in 2008- and were too unsophisticated to learn the lesson it presented.
Just beacuse many cannot afford the Condos even at today's prices, they are making voicing these kind of opinions of 400 psf and 300 psf etc etc... I invite some of these zero brainers to go and build the Condos and see what prices they can sell. The demand will keep rising in years to come with shortage of living spaces and Condos built in prime locations are anywhere between $1000-$1500 psf even today. Even the Mississauaga downtown prices are close to $800- $1000 psf. Pricing of Condos is so different from pricing of Town houses/semi and detached houses and Condo pricing mainly depends on : 1) Proximity to Metro services 2) Proximity to travel to work especially downtown areas in any city. 3) Age and Lifestyle living Most of the down turn in Condo prices have resulted due to "WORK FROM HOME "culture post Covid but will level out and go back to original prices in approx 5 years and Condo purchases are a sure shot investments to upgrade in future for younger generations.
Just think if the person who you are renting from goes under. The bank sells the home and you have to look for another place to rent. In the meantime there are hundreds of thousands of people looking for a place to rent. If homes are not owned and in the banks hands, there will be less and less places to live. You will be forced to commute to your place of work or worse the economy in that area is negatively impacted by the turmoil and you lose your job. Only a child prays for there neighbour to suffer
Only someone who would sell out his own grandkids' future would champion the current housing market. I bought a house in 2009 for 230k using 30k down. It's now worth 1.2m on paper. Do you think that's sustainable??? Do you think I enjoy my kids never being able to own a home because greedy investors like you gobbled up the finite building area while the government controls both the supply and demand levers to keep the bubble going? I could have bought my house and let someone live in it for free for 10 years and still be cash flow positive.... rent is high because greedy landlords try to squeeze every last drop out of young Canadians.
@@TheBlindandDeafLifeGuard that’s incorrect. Lending standards are to blame. To keep the economy and money moving forward those standards had to be bent. The economist thought that if we give more money to people they will spend it on important things to better their lives. That didn’t happen, the average person just bought more useless things instead while the smart people leveraged that debt to make investments with real value. Don’t blame people for being smart, blame the system, and furthermore, again without investors nothing would ever exist. You’re using a smart phone right now funded by investors. Time to wake up. The central banking and political system is the real problem here
@@justinjones5281 Sure, investors can use cheap money to speculate. They should stop crying when the music stops and they're left without a chair. If it was that easy to make money, everyone would be doing it. Either the investor grits his teeth and holds his overpriced condo for a decade or he defaults and lets the bank take the massive hit. Neither of them should be pitied.
Folks. Real estate prices should not exceed 4 x median household income (best is 3 x or less). Inflation has played a huge role in this arena. Realistically, a 2 bedroom condo should be around 2004 prices of about $230K-250K and detached homes somewhere around $500K. Since salaries aren't adjusting for inflation (not even close) and debt is through the roof, I suspect a massive market correction and sadly many many home foreclosures and personal bankruptcies. If the government interferes and lowers interest rates (and continues to print money), inflation will presist and homes will remain unaffordable.
Hey Santo, you really think condo prices are really going to be selling for HALF the price people paid for them? If so, when, and do you think it will be a buying opportunity? You’re the expert but I don’t really see condos for going at 50% off…this is not an obsolete electronic product that is on sale for Cyber Monday sale. A little overboard fear mongering don’t you think?
This is already happening. Santo said he knows people who paid 2k a sqft for condo The market value of resale condo in Toronto is 1k a sqft. That's 50 percent less. He never said condos would go down 50 percent less than the market price today
Happened in late 80’s Condo market was “canary in coal mine “ and that was when canadians had much much less debt. A million $ condo home can easily go for 1/2 In 90’s there was a auction for 30 new townhomes at casaloma. Only 1 was sold, lol at it was for pennies in comparison
Happened in late 80’s Condo market was “canary in coal mine “ and that was when canadians had much much less debt. A million $ condo home can easily go for 1/2 In 90’s there was a auction for 30 new townhomes at casaloma. Only 1 was sold, lol at it was for pennies in comparison I remember new homes in markham sold and asking for $420k went for 1/2 in a year.
Happened in late 80’s Condo market was “canary in coal mine “ and that was when canadians had much much less debt. A million $ condo home can easily go for 1/2 In 90’s there was a auction for 30 new townhomes at casaloma. Only 1 was sold, lol at it was for pennies in comparison I remember new homes in markham sold and asking for $420k went for 1/2 in a year. What saved them was rates kept coming down fooling people. Fun times 😂😂😂😂😂 Now prices are over a million with rates
Some new condos are like dungeons; shoe boxes and pigeon holes. Curious to know about the architects and planners and responsible approvers of such projects and greedy builders of political affiliation. Do the bylaw and codes, norms apply, or washed out with no accountability? Day begins with exaggeration and hyperbole to promote products and services. While puffery grabs listerners and attention, 😂
These condos will double in price in couple years. The reason, no supply. There are no new projects in last 2 years, so this 5-8 months inventory will rise to 6-9 months during the 2025, but will go down to 3 months in 2026 (which means there will be multiple offers on some condos), and 10 offers within first 30 minutes in 2027-2030. So if you can keep your condo, keep it.
Why don’t you stretch the Scarborough line all the way to Yonge Street and lump it all together?? Area west of Victoria Park Avenue is NOT Scarborough! Don’t report on it if you don’t know the boarder lines! You’re eliminating one big pocket of North York! Why would you care,you’re in Peel region🙄
I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Mind if I look up your advisor please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
I've been stuck with the popularly ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Thank you for putting this out, it has rekindled the fire to my goal... was able to spot Melissa Terri Swayne after inputting her full name on the web, she seems highly professional with over a decades of experience
The greediness of the construction industry has built some small apartments of 400 square feet. I called them pigeon holes. I would like to see some of those builders live in them.
Love this comment.
I would say shoe boxes.😂
Greed leads you to disaster!
FOMO gets them every time.
Not greed at all. Like saying if you eat steak you’re greedy. If you drive a car you’re greedy. If you use a clothes dryer you’re greedy.
@@justinjones5281 It is greed. The government was selling these condos for the last ten years + to non Canadians overseas, this is what began the uptick in OVERPRICED condos. Look at markets in the US, Chicago, North Carolina - a 500sq ft condo is nowhere near $1M. Government greed, corporate greet, policy incompetence and corruption is how the market got here.
Following the herd always leads you off the cliff, so there!
Like getting poke too
Absolutely lol. Looks like condos near the bottom now for 2025.
You're the most Honest Real-estate guy on TH-cam.. : )
A 1m home if CMHC insured you would need 100k down minus 28k CMHC insurance = 928k mortgage for 25 years.
At 5% interest it would take 16.5 years to reduce the mortgage to 500k where you would not lose your deposit.
Monthly payment: $5,397
Total interest: 691k
Investing the same 100k held in a TFSA into S&P 500 after 16.5 years = 459k (tax free).
Invest 100k plus $5397 every month for 16 years = $2,912,012
Home will be 3 mil in 16 years!!!No doubt!!
Hindsight is 20 20
This is going to metastasize to the entire GTA real estate market, potentially to the entire country.
Definitely. It's already the case.
I wonder how many of this buyers are real estate brokers/investors
This price correction is a loooong time coming, so it's hardly shocking. The only way condo investors can avoid losing a big chunk of their investment by selling is obviously to turn those condos into rentals, which would provide a much needed supply of rental units, especially in Toronto. That's the silver lining of this whole mess.
Anything.... is only 'worth' what someone else is willing to Pay !
With 40,000 GTA Condo's being completed ~24 Months.... YOU put a Deposit on it ? now it's ready so time for YOU to Pay for it !
This is what happens when your turn Real Estate market into no more than playing a 'leveraged' BET at a Casino.... YOU LOSE !
or
default and don't close..... and let them chase YOU and thousands of others in court !
Good Luck with that !
People not only paid those prices, they stood in line to grab these condos off paper. Wow!!!
Sheep's
It's no different than people buying Blackberry stock at $100. They thought it was going higher. Chances are you've never made any money or you wouldn't be criticizing people for taking risks. Even if those risks look foolish in hindsight
@@roadmap999how exactly did I criticize people for getting caught up in the hype. 🧐I merely stated a fact. Research it. People were lining up overnight. Some greedy people bought entire floors. It worked for them in the past🤷🏻♀️
@@roadmap999big difference between an asset that everyone needs vs a tech item lol
The Asians and then Single Tattoo Feminists !!!! Haaaaaaaa ...... Good Luck selling it after 10 year with a 1000$ a Mouth Maintenance fees !
2025 GTA condo prices will drop by a minimum of 50% from current prices.
Buyers be patient, sit back and watch the prices drop....
Minimum 50% is way too much, maybe 20% maximum.
@@francisyoung3584 bless you 😂
Yup.
In "Popular delusion and the madness of crowds" the author documents the rise and fall of speculative manias and comes to the conclusion that a 80 to 99% fall is usual. When you add in the collapse of the CDN dollar against its peers, as a tool used by the feds to stop further declines, well probably hit a 80% decline. After all the only reason to buy a micro condo is to recoup some "rent" as you move up to a SFR, and once it's generally understood they are just money pits, they don't have much value either as a potential residence or a store of wealth.For those that think RE in terms of condos is a great investment, I suggest you read up on the Florida condo market. Between highten insurance cost and potential building assesments to cover engineering problems many can't be given away.
Wise up! Housing is going to fall to its utility value. Bitcoin is the new piggy bank. Property is finished as a storer-of-value. Just a little advice from your friendly neighbourhood Spider-Man.
So youre telling me RE doesnt always go up yoy? Fascinating
@@donm2067 real estate always goes up . Real estate should go up 3 to 5 % every year. Not 30 % every year.
Over time yes, for good quality houses. Not show boxes
@UniversityAssist a rising tide floats all boats.
Lots of nightmares sold in the last 10 years
@@donm2067 in a realistic housing market home prices should go up 3-5 % every year. Not 30% every year . In the last 5-7 years prices have been going up 30% per year and it is not good for the economy and for the people who are buying them .
Do you offer property management too?
A sq ft should be $ 400 . So 500 Sq Ft condo $ 200,000. nothing more.
lol 😂
💯
Your right.
It’s coming ….these dolts don’t understand the drop that’s coming.
@@EricAlHarb yes it is. Whole country full of sheep.
Curious about the condo situation on Mississauga's waterfront.
No sympathy.
Are you going to, at some point, talk about how builders enriched themselves unduly and sold at 2000 a feet? And if you do, would you be able to name a few of the builders who did so... as you said you know what buyers bought at, which would mean that you'd probably know which builders they bought from. It'd take a bit of courage and I am quite sure you have it! Right? Or maybe I am wrong.
That is slander and punishable by law. The cost of labour spiked and the cost of materials spiked. Simple
It would not be slander if it's backed by facts and evidence. I don't think the cost climbed that high. Maybe 50%... but condo proces went higher by 200%... i know there may be other factors involved... like cost of land... varies from place to place... you are a pro at this and could easily gather evidence 😊
@@sajidrizvi1509 the lending parties are the most to blame. Government handouts plus policies drove prices higher. Banking systems were incentivized by the government as well. This is a a real problem that has nothing to do with business owners
Yes lending practices and dole outs helped fuel the fire. But one has to ask at the end of the day where did all that money end up?
@ in very few hands off the backs of very hard workers
If you bought this as a primary residence, it should not matter. You bought a place based on what you could afford. You saw enough value in it to pay what you paid.
If you bought purely as an investment, those are the risks. Many thought it was easy money but it takes away inventory from those young couple looking for their first place to live and drove up the cost to unreasonable levels.
No sympathy for those speculators who over extended themselves looking to make a quick buck. They are a big part of the reason why home affordability is so out of reach.
The Canadian dollar is dropping like a stone due to our debt to GDP. Unfortunately the grossly overpriced real estate must crash hard to begin fixing this very serious problem.
LOL The Canadian dollar is dropping compared to the US because Canada is lowering interest rates while the US isn't. It's got nothing to do with debt to GDP LOL.
Great info!
What about pre-construction been sold today (pickering) for 2028-2029 i see some starting at high 300s (studios) to 600(two beds) is that price raking into account the downwards trend ?
My condolences. If they close, they are in for at least half a decade of being in red on mortgage payments.
The muppet boiler room condo flipping market is dead 😂. Unbelievable but true
How many condo projects are on hold now in the GTA?
bag holders get wrecked.
That’s why it’s better to rent than buy in the current situation… you Can’t DCA your mortgage 😂 Maybe when Condo Prices make sense I’ll purchase.
FYI the condo resale market is starting to turn... Youre 100% right on precon who bought 3 yrs ago. However is someone bought 5 yrs ago then they would still have made money
You know what is the worst thing about this? I remember wanting to buy a condo in the greater Vancouver area and I couldn't. New developments were selling and preconstruction, saying "contracts will be offered on Saturday, starting 9AM morning at ... location.". On that day they were supposed to offer whatever they had to the general public. Comes that Saturday 9AM and right away they declare everything is sold. The only available condos are the highest priced ones 3bd. The realtor said to us "Many of those condos went to friends and family of the developers", which was not true because I know another realtor who told me when interest is really high they will find a way to stop the sale and increase the price. We literally couldn't buy what was advertised because of the greed of these people. One would have to offer significantly more for someone to "drop out" and get the condo. I am for the free market but they could make less predatory tactics and lies, they could put the higher price easily and filter out the lower-end of the buyers. But no, they wanted to inflate the demand by all means, and thus we have this craziness today. It would be like selling apples and hiding most of them to create demand and increase prices. How is this legal even!? Surrey was notorious for these practices.
Great content today
Keep it up!
Where is C3P0? GreenBot is obviously dodging Trent! That sack of nuts and bolts probably had a massive cpu power surge circuits fried for sure
Is it shoking to see realestate going down 50%. Nope. In Canada, the realestate is like investing. I invest in stock market, I have stocks that are still down 60% for almost 3 years. It is just the cycle of the market. The problem is that in realestate you have leverage because of the mortgage, so the risk of gain and lose is higher. For my stock investing, I don t borrow to invest. I buy with what Im comfortable to lose
Occupancy? Or Possession?
If condos built two years ago and are now closing in 2024 are at $1500/sq. ft. what are new builds being marketed at? If these new marketing programmes, pre construction is marketing not selling a real product, are not offering prices at $1000/sq.ft. then why not?
Average right now seems to be about 900/ sq ft, anybody who bought at 1600-2000 is royally screwed.
Wait until T gets his tariffs in. I bet a lot of firms are putting together their layoff list now. And you can be sure many of them are strung out on RE debt. Its like Canadians had a perfect example watching the US in 2008- and were too unsophisticated to learn the lesson it presented.
Just beacuse many cannot afford the Condos even at today's prices, they are making voicing these kind of opinions of 400 psf and 300 psf etc etc... I invite some of these zero brainers to go and build the Condos and see what prices they can sell. The demand will keep rising in years to come with shortage of living spaces and Condos built in prime locations are anywhere between $1000-$1500 psf even today. Even the Mississauaga downtown prices are close to $800- $1000 psf. Pricing of Condos is so different from pricing of Town houses/semi and detached houses and Condo pricing mainly depends on :
1) Proximity to Metro services
2) Proximity to travel to work especially downtown areas in any city.
3) Age and Lifestyle living
Most of the down turn in Condo prices have resulted due to "WORK FROM HOME "culture post Covid but will level out and go back to original prices in approx 5 years and Condo purchases are a sure shot investments to upgrade in future for younger generations.
What happens to these buyers if they walk away?
Financial nightmare. The builder will not let them simply walk away.
I can’t see anything below 700 square feet condos selling.
I believe it is going to take 5 or more years to sort this mess out.
I’m prepared to purchase at a 50% discount.
What % is investor vs people buying to live in themselves.
@@CalNg88 at least 70% investor and 30% people buying to live .
NO SYMPATHY.
Just think if the person who you are renting from goes under. The bank sells the home and you have to look for another place to rent. In the meantime there are hundreds of thousands of people looking for a place to rent. If homes are not owned and in the banks hands, there will be less and less places to live. You will be forced to commute to your place of work or worse the economy in that area is negatively impacted by the turmoil and you lose your job. Only a child prays for there neighbour to suffer
Only someone who would sell out his own grandkids' future would champion the current housing market.
I bought a house in 2009 for 230k using 30k down. It's now worth 1.2m on paper.
Do you think that's sustainable??? Do you think I enjoy my kids never being able to own a home because greedy investors like you gobbled up the finite building area while the government controls both the supply and demand levers to keep the bubble going?
I could have bought my house and let someone live in it for free for 10 years and still be cash flow positive.... rent is high because greedy landlords try to squeeze every last drop out of young Canadians.
@@TheBlindandDeafLifeGuard that’s incorrect. Lending standards are to blame. To keep the economy and money moving forward those standards had to be bent. The economist thought that if we give more money to people they will spend it on important things to better their lives. That didn’t happen, the average person just bought more useless things instead while the smart people leveraged that debt to make investments with real value. Don’t blame people for being smart, blame the system, and furthermore, again without investors nothing would ever exist. You’re using a smart phone right now funded by investors. Time to wake up. The central banking and political system is the real problem here
@@justinjones5281 Sure, investors can use cheap money to speculate. They should stop crying when the music stops and they're left without a chair. If it was that easy to make money, everyone would be doing it. Either the investor grits his teeth and holds his overpriced condo for a decade or he defaults and lets the bank take the massive hit. Neither of them should be pitied.
Actually banksnare better LL and you forget therenis sooo much inventory.@justinjones5281
If you are not on board then you are overboard or under board ….not sober….
If you leverage too much and have debt up your eyeballs, our good o' Uncle Dave would smack your head. 2k/sq ft for a condo, tf were they thinking😧
Don’t know.
Sounds like 1990 Japan. Decades of price declines ahead.
$2000 per square foot........
Hard to feel bad for them, $1000/sqft is crazy already
Folks. Real estate prices should not exceed 4 x median household income (best is 3 x or less). Inflation has played a huge role in this arena.
Realistically, a 2 bedroom condo should be around 2004 prices of about $230K-250K and detached homes somewhere around $500K. Since salaries aren't adjusting for inflation (not even close) and debt is through the roof, I suspect a massive market correction and sadly many many home foreclosures and personal bankruptcies. If the government interferes and lowers interest rates (and continues to print money), inflation will presist and homes will remain unaffordable.
Hey Santo, you really think condo prices are really going to be selling for HALF the price people paid for them? If so, when, and do you think it will be a buying opportunity? You’re the expert but I don’t really see condos for going at 50% off…this is not an obsolete electronic product that is on sale for Cyber Monday sale. A little overboard fear mongering don’t you think?
When the rent covers all the costs of ownership is the time to buy. That was true in the past. It’s gonna be while before it happens again.
This is already happening.
Santo said he knows people who paid 2k a sqft for condo
The market value of resale condo in Toronto is 1k a sqft. That's 50 percent less.
He never said condos would go down 50 percent less than the market price today
Happened in late 80’s
Condo market was “canary in coal mine “ and that was when canadians had much much less debt. A million $ condo home can easily go for 1/2
In
90’s there was a auction for 30 new townhomes at casaloma. Only 1 was sold, lol at it was for pennies in comparison
Happened in late 80’s
Condo market was “canary in coal mine “ and that was when canadians had much much less debt. A million $ condo home can easily go for 1/2
In
90’s there was a auction for 30 new townhomes at casaloma. Only 1 was sold, lol at it was for pennies in comparison
I remember new homes in markham sold and asking for $420k went for 1/2 in a year.
Happened in late 80’s
Condo market was “canary in coal mine “ and that was when canadians had much much less debt. A million $ condo home can easily go for 1/2
In
90’s there was a auction for 30 new townhomes at casaloma. Only 1 was sold, lol at it was for pennies in comparison
I remember new homes in markham sold and asking for $420k went for 1/2 in a year. What saved them was rates kept coming down fooling people.
Fun times 😂😂😂😂😂
Now prices are over a million with rates
Say Tsunamis of condos... Not Tsunami of Condos. 🚨🚨🚨
Thank you.
But real estate always go up up n up. Even santos was pitching the same narrative a couple of years ago 😅
Apartment prices are coming down! It's what we all want, no?
first
Some new condos are like dungeons; shoe boxes and pigeon holes. Curious to know about the architects and planners and responsible approvers of such projects and greedy builders of political affiliation. Do the bylaw and codes, norms apply, or washed out with no accountability?
Day begins with exaggeration and hyperbole to promote products and services. While puffery grabs listerners and attention, 😂
only 15.3 subscribers after pumping up the fear for 12 months. I hope he is better in selling the real-estate
There digging there graves , rest in peace 😢
Digging their graves in cubicles in the sky with additional maintenance fees. Looks like the next pandemic 🤣
Sounds like a bubble to me!
Vanguard and Blackrock will gobble all the condos for 50 cents on the dollar
Condos up 5% next year.
Just like a brand new car, you lose 20% as soon as you drive it out of the lot ! More losses coming in real estate....
Thanks Santo. Wow, very sad for the buyers at the peak. Thanks for your info.
It may drop even more as the immigration decreases
it is all so sad
We're talking the 4 months of snow per year Toronto here?
th-cam.com/video/cLYHyrp0eMs/w-d-xo.html
We need them to fail and lose money the real-estate market needs to be corrected
the sky is falling! yawn.
If you gave me a toronto condo for free,,,id sell it,,slum city is horrible
Condos?- tiny concrete glass garbage
These condos will double in price in couple years.
The reason, no supply.
There are no new projects in last 2 years, so this 5-8 months inventory will rise to 6-9 months during the 2025, but will go down to 3 months in 2026 (which means there will be multiple offers on some condos), and 10 offers within first 30 minutes in 2027-2030.
So if you can keep your condo, keep it.
Love the thumbnail. A picture speaks a thousand words she’s a goner
Interesting yet irrelevant.
L
Capital losses, keep track and go back or forward😊
Unsubstantiated illogical and nonsensical talk.
Why don’t you stretch the Scarborough line all the way to Yonge Street and lump it all together?? Area west of Victoria Park Avenue is NOT Scarborough! Don’t report on it if you don’t know the boarder lines! You’re eliminating one big pocket of North York!
Why would you care,you’re in Peel region🙄