Real Estate

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

  • Last Updated:
  • Sep 15th, 2017 2:24 pm
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes

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

The market has completely crashed 20% in prices since the peak in April, and another 20% drop is expected once the stress test for non-insured mortgages is implemented (source: http://www.whichmortgage.ca/article/sho ... 28537.aspx). This would be devastating to all the speculators and pumpers who've concentrated all their investment into a single asset because "it always goes up duh!".

Even with the stats all pointing to such an extreme drop, pumpers are still in denial, blaming sales mix and pointing at useless lagging stats like condo price appreciation.

This thread is to list all the examples of house price drops and people walking away from their deals since the peak!
Political avatars and signature are not permitted.
36 replies
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
2.25M sold in April, buyer walked out, resold for 1.77M, drop of almost 500k! OUCH!

Image
Political avatars and signature are not permitted.
Deal Expert
Feb 22, 2011
16521 posts
21869 upvotes
Toronto
Condos are over 50% of sales in the city of Toronto. It's a bit funny to call them lagging stats.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
47 Kayak

Listing Price: 788000
Sold Price: 930200
Sold Date: 2017-04-05

Listing Price: 698000
Sold Price: 735000
Sold Date: 2017-06-21
Political avatars and signature are not permitted.
Deal Expert
Feb 22, 2011
16521 posts
21869 upvotes
Toronto
All these links you are posting are dead lol, the site has been down for quite awhile.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
2.8M to 2.3 M

OUCH!
Image
Political avatars and signature are not permitted.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
NEGATIVE YOY EXAMPLE

Image
Political avatars and signature are not permitted.
Member
Jan 19, 2015
423 posts
467 upvotes
Scarborough, ON
This is very convincing stuff.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
1.8m TO 1.5m . Just sales mix here, no drop!

Image
Political avatars and signature are not permitted.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
Another Sales mix example! No price drop at all! Nobody walking away! LOL

Image
Political avatars and signature are not permitted.
Member
Jan 19, 2015
423 posts
467 upvotes
Scarborough, ON
This is obviously one of the best posts here. Argument supported by hard data.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
I thought Bob's your uncle index said that it's up 20% YOY? why does it look flat here?

Image
Political avatars and signature are not permitted.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
Damn, they should call the police cause somoene just ROBBED THEM OF 400k!

Image
Political avatars and signature are not permitted.
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
2 haters have already downvoted the thread.. lols
Political avatars and signature are not permitted.
Deal Expert
Feb 22, 2011
16521 posts
21869 upvotes
Toronto
So what you're saying is the average you are comparing current prices to is based on sales that didn't actually close?
Penalty Box
Aug 11, 2005
4175 posts
1432 upvotes
airfarceone wrote: This is obviously one of the best posts here. Argument supported by hard data.
Thank you sir, I do my best to give people a true sense of how badly real estate is CRASHING and BURNING. There's no end in sight right now.
Political avatars and signature are not permitted.
Member
Mar 10, 2009
317 posts
281 upvotes
Toronto
LOL. you guys are too much. Cherry picking examples. You know for every post that you find of a house selling for less, you can find a house that sold for more right?

SMH

Top