Real Estate

The Definitive GTA Price Crash/Buyer Walk-away Examples List

  • Last Updated:
  • Dec 18th, 2018 10:13 am
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
rkanwar109 wrote: If you’re not cash flowing for a property then you are speculating. Simple as it gets
That's a reasonable assumption if you're a bit player sitting on a property that cannot be subdivided.

It is an entirely unreasonable assumption if you're sitting on a property that can be subdivided into multiple and I mean multiple residences.

It's an even bigger assumption borne of ignorance to assume that not having positive cash flow is bad thing when one might be sitting on a property awaiting subdivision approval.
Banned
Nov 18, 2014
824 posts
769 upvotes
Toronto, ON
licenced wrote: That's a reasonable assumption if you're a bit player sitting on a property that cannot be subdivided.

It is an entirely unreasonable assumption if you're sitting on a property that can be subdivided into multiple and I mean multiple residences.

It's an even bigger assumption borne of ignorance to assume that not having positive cash flow is bad thing when one might be sitting on a property awaiting subdivision approval.
You keep talking and making assumptions, but that is typical of you to keep digging yourself into bigger holes when you’re wrong.

Just stop.
Deal Fanatic
Jul 3, 2011
6517 posts
3798 upvotes
Thornhill
rkanwar109 wrote: You keep talking and making assumptions, but that is typical of you to keep digging yourself into bigger holes when you’re wrong.

Just stop.
Repeat that as often as is necessary to give comfort to yourself.
Deal Addict
User avatar
Dec 13, 2016
4530 posts
4060 upvotes
rkanwar109 wrote: You keep talking and making assumptions, but that is typical of you to keep digging yourself into bigger holes when you’re wrong.

Just stop.
You got owned. Again.


Simples :)
Deal Addict
Jan 17, 2006
2496 posts
2740 upvotes
Toronto
rkanwar109 wrote: You keep talking and making assumptions, but that is typical of you to keep digging yourself into bigger holes when you’re wrong.

Just stop.
That is all you do here anyways, you make an assumption that he was buying to speculate. With lot size like that there are different options, obviously buyer's grand plan was not to rent it out.
Anyways, bears dont' know any better than to find something they can drool around, even thought all their finding some exaggerated exceptional cases.
Did you like my example which showing 50% up since 2015.
Here it is again, enjoy.
salerecord.jpg

This one you will like even better. 1.5M that price is from 2017 pretty much. I know that area, I live there.
Enjoy.
listing2.JPG
Deal Addict
Jan 26, 2016
2240 posts
2272 upvotes
Toronto, ON
rkanwar109 wrote: He said inflation adjusted. 10% in 4 years is almost 0% in real terms
who buys with 100% down payment??

Also:

Image
Member
Jun 23, 2009
340 posts
654 upvotes
Toronto
Hamilton area prices dramatically. Talked to a builder and sales are basically flatlined.
Sr. Member
Jan 27, 2018
534 posts
523 upvotes
I think detached/semis has still room to drop by 15% to 20% from this point in GTA. It just got to much propelled by the FOMO of 2017.
Banned
Nov 18, 2014
824 posts
769 upvotes
Toronto, ON
Unknownname wrote: I think detached/semis has still room to drop by 15% to 20% from this point in GTA. It just got to much propelled by the FOMO of 2017.
It’s got more to drop for sure. Chinese are co tinuing to pull money away from Canada and interest rates are rising even more. Banks are going to ask for collateral when people renew due to how much it has dropped
Deal Addict
Jun 7, 2017
1043 posts
836 upvotes
BC
rkanwar109 wrote: It’s got more to drop for sure. Chinese are co tinuing to pull money away from Canada and interest rates are rising even more. Banks are going to ask for collateral when people renew due to how much it has dropped
I have a feeling your area is Brampton which the Chinese will not touch.

My RE contacts tell me that the Chinese are less aggressive but still buying. They are diversifying across the GTA; buying less in the usual suspect areas and more in their non-traditional areas.

Rates are at historic lows, that cannot be disputed. Yes, there has been a few increases, but that is just to buy wiggle room for future monetary policy. Fed is on record saying they are approaching neutrality, and I would be VERY surprised to see ANY increases given recent market downswing.
Banned
User avatar
Nov 19, 2018
50 posts
44 upvotes
Unknownname wrote: I think detached/semis has still room to drop by 15% to 20% from this point in GTA. It just got to much propelled by the FOMO of 2017.
Drop to what?

Currently, $799k gets you a decent home in the GTA (Newmarket, Aurora etc.) As someone who's been in the market for a few weeks now, these houses are sitting for months at this price, and a lot drop down to $750 (or $699 to get a bidding war). But $750k right now is the sweet price for buyers and sellers - I don't see many good, decent homes dropping below that point.

So you may still think there's room to drop, but buyers aren't letting it get to that point. I personally don't think we'll see any sub $700k detached (good homes, not run down) next year.
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