Honestly, life is very simple in Canada. Work 2 to 3 jobs for 30 years to pay off your million dollar house then retire in your 60s then end up in a nursing home in your 70s or 80s then you die. The end.
@@lilip6369 that’s if your kids haven’t stole it out from under you already, then abandoned you in long term care or the hospital. 😉 either way you’ll be MAID comfortable soon enough - so never mind eh? 🎉
Do you know how much of the Japanese stock market the Japanese govt owns...meaning home prices will mever drop the rich own the banks and the banks spreadsheets are incdn real estate
Don't cut rates! Let the market run its course. The damage is so bad for many years by cutting rate again will exacerbate the problems even more in the future. How stupid can you be? It's better to have a true market value vs. an artificial market. Housing should not be abused and used like a stock market. Use commercial properties for that instead.
The other BIG, or really small issue is that they are all pretty much studio or one bedroom units. This only satisfies the starter market (one segment) so now you have a vast over-supply of inventory in this segment lowering prices.
We are in a housing crisis. I don't care if someone can't sell their unit for a crazy amount of money. In one of the richest countries in the world, the average person does not own a home and can barely afford rent. Cover that story every day and hold politicians accountable; they make the laws.
Oooh she gunna drop a hell of alot more than just 300k... get ready canada... the condos are just the tip, then will be cottages, and then residential homes... so many for sale... so many still for sale... realtors better find real jobs soon.... Tim Hortons is hiring 🙌
I like it how he said “ this home buy didnt mind taking the cut but still walked away with a million dollars”. Walked away with a million sounds like he walked away with a million. More than likely not the case. The bank took it and he lost $320,000 as said in the beginning.
The sats at the end are all smoke and mirrors. They are trying to use percentages to show you that sales are up year over year, but in fact, the 2024 total listings went up skewing the ratio. If you calculate the sales-to-listings ratio, LESS homes are being sold in 2024 than 2023 by -5% year over year, which actually indicates a SLOW market. smh this is grade 10 level mathematics at best. Wish our journalism would do better, instead of skewing the data to make it look like housing market is booming when its not.
The condo wasn't sold at $320k loss, it got priced adjusted when the products are too expensive just like condos they automatically get a price adjustment as it's too expensive for consumers or a buyer and no one wants to buy the condos at that rate. So basic economics.
Lol... telling buyers to jump on deals and sellers to hold on selling is exactly what I'd expect a real estate agent to do... seems like they're in crisis mode.. why buy houses if they will just keep dropping in price?
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family. ❤️>>
Trading crypto now should be wise, but trading without an expert isn't advisable. I tried trading on my own but keep on losing. I think I'll give her a try
When they mention "modern" fixtures I always wonder if they ever been to Europe or Australia? This is nowhere near modern 🤔 Very basic dated design in most cases.
if they are not consistently making bigger profits the world will always be "falling". These so callled investors won't stop sucking even if they are full, yet the nature of the beast is that one eventually pops from gluttonous ways. Maybe priorities need to change, but who am I to judge. Life will teach em the hard way
Condos do not represent value for money so their only purpose must be for trading rather than as a residence. Real estate speculators are like short sellers that get burned once in a while and they somehow seem surprised it can happen to them. I find it very amusing.
This market is just starting to roll over. Treasuries haven’t gone uninverted, GDI is rolling over, GDP is actually rolling over but the govt has used huge immigration influx to cover that up. Wait until the condo market’s struggles bleed over into the freehold. Longer term prices are still 25% above the long term trendline so if we do have a real correction, markets always over correct so we could see a 30% chop from here.
This reminds me of the recently released "2024 Top 10 World Most Expensive Modular Apartment Highrises". As for future real estate trends, these high-priced modular apartments seem to be becoming more and more common. What do you think of this trend?
The level of inefficiency and corruption in this administration is becoming absurd. Those who are disabled and do not receive the support to which they are legally entitled make me sad. I sincerely thank you, Leah Foster Alderman. Imagine making $6k in four days with an investment of $1.5k.
![“อ.เบียร์ คนตื่นธรรม” มาตามคำเรียกร้อง แหกศาสตร์ฮวงจุ้ย เตือนสติอย่างมงาย | แฉ 7 พ.ย. 67 [1/3]](http://i.ytimg.com/vi/5fc4S3xBNfc/mqdefault.jpg)
Discussing a1.5M condo , the average Toronto problem 😂
the average toronto house is more than that. Toronto is crazy
Honestly, life is very simple in Canada. Work 2 to 3 jobs for 30 years to pay off your million dollar house then retire in your 60s then end up in a nursing home in your 70s or 80s then you die. The end.
Just do MAID to speedrun the process
And in nursing home they will sell your million dollars home to buy pull up .
How could one retire when all the money were out into the depreciating home
@@lilip6369 that’s if your kids haven’t stole it out from under you already, then abandoned you in long term care or the hospital. 😉 either way you’ll be MAID comfortable soon enough - so never mind eh? 🎉
@@DieNibelungenliad😭😂
I love it when they interview realtors....they're the most competent/smart economists out there and know everything about what is going to happen lol
Next to freaking lawyers, swindlers.
Realtors are dense as AF lol. I hate Humber College for producing so much of them. We need Nurses, teachers....not Realtors in Ontario
Most useless unskilled job is a realtor in western world. I despise these leeches
Condo cost is too expensive. Maintenance cost for old condo's are almost renting a cheap one bedroom apartment outside toronto.
THen live where you want
No they are not.
It's finally happening! Speculators can kick rocks.
Nah by 2027 Toronto condo prices are gonna be up $1500 a sqft easy. Low rates and low inventory.
Do you know how much of the Japanese stock market the Japanese govt owns...meaning home prices will mever drop the rich own the banks and the banks spreadsheets are incdn real estate
Keep dreaming. Won't happen.
@@hoanghuynh517 what won't happen speculators losing money ? it's literally happening
@@Cballinare you that stupid AND BROKE?!? Yeah, I think so
Serves the greedy speculator folks right!
A 320 k loss is still has more to drop. Max 600 k is what its worth in a real market.
Don't cut rates! Let the market run its course. The damage is so bad for many years by cutting rate again will exacerbate the problems even more in the future. How stupid can you be? It's better to have a true market value vs. an artificial market. Housing should not be abused and used like a stock market. Use commercial properties for that instead.
I wouldnt pay 320,000 for that condo.
Signed,
The Carpenter
$1.5 million for a condo. I've gotta laugh.
lol🤣🤣🤣🤣🤣
Guess you haven't travelled much
Stop building million dollar units and build affordable ones
The so-called million dollar condos aren't worth half that
they will start building shoe box😂
@@ebnops6941 I live downtown Toronto, they already are
Exactly 😮
@@ebnops6941 today's condos are veery small compared to the ones built 20 years ago, but the prices are higher
You'll need a microscope to see the size of the violin playing for these speculators!!
Take that!!
Are you that broke and that stupid? Yes. You are.
WTF when the average of Salary is only 70K, it is insane to talk about a condo with price of 1.5M
That's the average and most of the buyers are above average. A billionaire can buy hundreds, so there will always someone that will pay crazy price
That condo is DT core premium reno for ibanker making 200k
It wasn't a loss because it was an inflated price.
It’s like when a company “loses” money by *not gouging their customers enough*.
Unless if you bought it for 1.5M and sell it for 1.2M
You must’ve flunked math class, eh?
Exactly!!!!
No it’s a literal loss to the investor lol
Obviously! Speculator deserves to lose money.
Sold at 320k loss yet still unaffordable to the masses lol
Funny the loss is actually what is should be worth. Toronto is disgusting
It should drop 70% more before I buy. For that condo 600K is fair price.
It's location mostly on that price lol
You must have a failed math and Econ 101, but still graduated with a degree in Wishful Thinking.
Still too high!
I wonder how many of those home sales were families that would actually live in them.
Well it was sooo overpriced to begin with!!! Still it was sold for an astronomical price! I don’t think the housing has slowed down!!!
So true… Sellers hold on if you can, but Buyers perfect market right now…
The other BIG, or really small issue is that they are all pretty much studio or one bedroom units. This only satisfies the starter market (one segment) so now you have a vast over-supply of inventory in this segment lowering prices.
It only works on its way up.
Once it stalled, everyone still in is a bag holder.
@@Stormshfter it's called "hot potatoe"... it's a "game" literally
That IS the market for downtown. Nobody is raising a family there. Single young professional, or professional couples, plus airBNB investors.
🎉 I’ve bern waiting 24 years for this kind of news! FINALLY!
Well not everyone wants to live in a crazy expensive condo
We are in a housing crisis. I don't care if someone can't sell their unit for a crazy amount of money. In one of the richest countries in the world, the average person does not own a home and can barely afford rent. Cover that story every day and hold politicians accountable; they make the laws.
Ohhhhhhh the bubble burst!!!!
Oooh she gunna drop a hell of alot more than just 300k... get ready canada... the condos are just the tip, then will be cottages, and then residential homes... so many for sale... so many still for sale... realtors better find real jobs soon.... Tim Hortons is hiring 🙌
Actually Tim Horton's only hires "international Indian students" if you havent noticed 😅😅
Imagine paying 1.3 millions to live in new India....no thanks
As if it already there is no issue with affordability. Who had 1.5 million to buy property?
Definitely not you 😂😂
@@dwights1024 😂 How did you figure that 😂😂😂😜.
A nightmare to live in Canada. Housing is a basic need , but it has become a luxury which can be afforded by only the rich.
Sellers lose this one. You'll learn you don't win them all
But the money got laundered, so everybody's happy. 👀👍😎👁🥖👁
I like it how he said “ this home buy didnt mind taking the cut but still walked away with a million dollars”. Walked away with a million sounds like he walked away with a million. More than likely not the case. The bank took it and he lost $320,000 as said in the beginning.
Don't buy now!!! it will go back to 2015 level.
1.55 million for a concrete ceiling? yikes poor taste
Those condos are overpriced. The housing problem won't be fixed building luxury condos.
They were built because they sell. Basic market rules.
Simply is not worth the price unless you print the money
I remember investors lining up at showrooms across the city ready to plunk down thousands in deposits for 2, 3 or more condos
The worse it's been in 30? No it's the most expensive it's been in 30!
Hmmm I wonder why home sales have gone up this year versus last year?!
Year 2050 : Tent in Allen Gardens sells for $500000. Great views of downtown. Portable toilet and transit nearby.
They have money they can afford to loose
*lose
I wonder what the property taxes and maintenance fees are?😮
I am renting in that building right now. It’s 224 king street west😂
The sats at the end are all smoke and mirrors. They are trying to use percentages to show you that sales are up year over year, but in fact, the 2024 total listings went up skewing the ratio.
If you calculate the sales-to-listings ratio, LESS homes are being sold in 2024 than 2023 by -5% year over year, which actually indicates a SLOW market.
smh this is grade 10 level mathematics at best. Wish our journalism would do better, instead of skewing the data to make it look like housing market is booming when its not.
The discount should be counted by percentage of the price.
The condo wasn't sold at $320k loss, it got priced adjusted when the products are too expensive just like condos they automatically get a price adjustment as it's too expensive for consumers or a buyer and no one wants to buy the condos at that rate. So basic economics.
HOLD ON, so I can price fix and get out before you ;)
These realtors bought a lot of properties by Leveraging when interest rate is low.
Toronto is no Vancouver. Those prices should have never reached that high.
Vancouver is no Toronto, I don’t know how their prices are so high
what makes vancouver bigger?
Toronto is actually bigger than Vancouver, so not sure what you're trying to say.
They’re building condos for foreign investors instead of building office space for businesses or apartments for housing
Still over prices by $500.000
Condo prices dropping hard. Rent at skyrocketing prices. Crazy situation.
Lol... telling buyers to jump on deals and sellers to hold on selling is exactly what I'd expect a real estate agent to do... seems like they're in crisis mode.. why buy houses if they will just keep dropping in price?
Don't forget the rising condo/HOA fees.
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family. ❤️>>
How please?
All I do is simple I just activate my account to copy trades from Evelyn Manson and that's all
Trading crypto now should be wise, but trading without an expert isn't advisable. I tried trading on my own but keep on losing. I think I'll give her a try
Her name rings a bell; I've encountered it multiple times, usually associated with stories of her trading achievements. She deserves a lot of credit.
Who do you copy from and how can I reach her to copy too??
500 square feet plus maintenance fees for what?
When they mention "modern" fixtures I always wonder if they ever been to Europe or Australia?
This is nowhere near modern 🤔 Very basic dated design in most cases.
Not low enough.
Oh, and cement ceiling, cement walls...? What kind of a sucker bought that crap for 1.5 million? He should be happy he sold it.
if they are not consistently making bigger profits the world will always be "falling". These so callled investors won't stop sucking even if they are full, yet the nature of the beast is that one eventually pops from gluttonous ways. Maybe priorities need to change, but who am I to judge. Life will teach em the hard way
Real estate agents are real bottom feeders
Yep! Mine sold at a $200, 000 lost
Oh no the condo builders are out of work! Don't care
When they sell does the laundered money get dirty again?
They probably want to launder it elsewhere and knew it was overvalued, we're just seeing capitulation and the beginning of true liquidity.
I think they need to learn about the Time value of money.
HEY kislux !! I have been watching you for years and im so proud of where you have made it! I love you so much! Also thanks for making my day
Tack on the maintenance fees on that !
I was just talking to a contractor I'm doing a job for that is from Vancouver here in Alberta and he told me he had to take a 1 million haircut
Rebecca needs a better pic 🤣💀💀💀
Using the word home is misleading.
Condos are the worse investment one can do.
All condos in Toronto will be the slums of Toronto!!
Couldn’t understand a word of the yellow shirted woman
Bag holders will get burned really bad.
It’s finally coming full circle.
Condos do not represent value for money so their only purpose must be for trading rather than as a residence. Real estate speculators are like short sellers that get burned once in a while and they somehow seem surprised it can happen to them. I find it very amusing.
seller doesn't care.
money isn't an issue for anyone who can afford 1.5M condo, not detached house family to live generations,
The bubble needs to burst, otherwise we will all end up homeless eventually.
Interest rates are lower than in the 1990s when plenty of homes were being built. I dont buy the financing excuse.
and that does not factor in fees, taxes , hydro
Prices going up = bad
Prices going down = bad
😵💫
Either way it's news :D
The new owner will probably sell in a year or two for another big 6 figure loss.
This market is just starting to roll over. Treasuries haven’t gone uninverted, GDI is rolling over, GDP is actually rolling over but the govt has used huge immigration influx to cover that up. Wait until the condo market’s struggles bleed over into the freehold.
Longer term prices are still 25% above the long term trendline so if we do have a real correction, markets always over correct so we could see a 30% chop from here.
This reminds me of the recently released "2024 Top 10 World Most Expensive Modular Apartment Highrises". As for future real estate trends, these high-priced modular apartments seem to be becoming more and more common. What do you think of this trend?
What are the condo fees?
$1.23M is also high .
Drop the price then.
Yes!
The level of inefficiency and corruption in this administration is becoming absurd. Those who are disabled and do not receive the support to which they are legally entitled make me sad. I sincerely thank you, Leah Foster Alderman. Imagine making $6k in four days with an investment of $1.5k.
Stop Complaining, at least you sold it
When you overpay for something you’re bound to lose eventually
2:23 walking away with a million dollars? Wouldnt that depend on how nuch he bought it for.
It's called cognitive dissonance; It was *PURCHASED for 1.55M* and sold for 1.23M.
The owner LOST over 300k, bUt sTiLl tHeY wAlKeD aWaY wItH oV3R 1M 😂
too much FOMO. dumb ppl paying 1M. condos worth 200k MAX given maintenance fees keep going up
Imagine your bad investment makes the news….ouch
Before watching this video I said “I bet they bought this in 2021”.
Dreamcondo 😂😂😂😂
For me a total nightmare, not talking about the pricetag
And I am wondering why no body is talking about the sizes of these Condos, They are designed for birds to live there.
Can this happen in Vancouver please
Fantastic news
Still too high