Real Estate

Did we just hit the peak of the Toronto RE bubble?

  • Last Updated:
  • Mar 9th, 2018 12:24 pm
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Deal Fanatic
May 1, 2012
7000 posts
3429 upvotes
Markham
rigalpatel wrote:
Mar 3rd, 2017 2:00 pm
lol - if you drive in the neighborhood it's very nice. I ofc would not live here even if the prices were at 2010 level (investing sure but not living), however there are some pros. It's a very quite area and there ammenities just like everywhere else. I guess it's still considered to be very close to the city but not too far into the burbs. As i'm typing this i can't seem to find any other reason except timbercreek mini golf is there hahaha. Does anyone else wanna help me out? lol
I got friends who live there. I go there sometimes. I can tell you right now what's there:

- Metro
- No Frills
- A bunch of horse barns
- NOVA factory
- GO Station
- Walmart / Canadian Tire


The closest mall is either Markville or Upper Canada and either one is a 30min drive away. It's surrounded by a few sub-par golf clubs, no highway, no mall, no transit, and it's surrounded by a bunch of cornfields and crazy horse ladies.

I don't get it. The only thing going for this town is the fact that it's got a GO Station.
Deal Addict
Jul 6, 2005
3292 posts
761 upvotes
Toronto
When we felt like we were being priced out of Brooklin in 2015, we expended our search North to include Uxbridge and Stouffville. Visited Stouffville on a few occasions to make up my mind that houses were way too crammed together, main streets were far too small/congested, and it just felt like a spill-over of the Markham-proper population. Plus the GO Train service at the time was pretty dismal, compared to the Lakeshore East line.

Uxbridge on the other hand had much nicer/bigger lots, most of which backed onto ravines and walking trails. Only downside about Uxbridge is that there's really only one main street with all your amenities, and highway/GO Train access is pretty much non-existent.

We ended up buying in North Whitby, (just south of Brooklin-proper) with no regrets,
Deal Addict
Jul 28, 2009
1331 posts
271 upvotes
canuck4 wrote:
Mar 3rd, 2017 1:44 pm
Which area would you suggest in the condo? new dev or resale?
I'd personally recommend the growing west or east ends of Toronto. Leslieville, West Queen West, King West are all great candidates. North Toronto would be a close 3rd. I would stay away from the "core".
[OP]
Deal Addict
Dec 5, 2009
4778 posts
2616 upvotes
Anikiri wrote:
Mar 3rd, 2017 1:26 pm
I still don't understand why anyone wants to live in Stouffville.
People who are priced out of Markham will look at Stoufville.
Deal Fanatic
User avatar
Mar 31, 2008
9815 posts
1358 upvotes
Toronto
They've got really nice roads for Sunday cycling up there.
[OP]
Deal Addict
Dec 5, 2009
4778 posts
2616 upvotes
at1212b wrote:
Mar 3rd, 2017 3:14 pm
They've got really nice roads for Sunday cycling up there.
Well, that explains it then ;)
Newbie
Oct 27, 2016
12 posts
Thanks a bunch fdl...
Would really appreciate your guidance where to look for Guelph and surroundings numbers.
Deal Addict
Dec 6, 2006
3956 posts
788 upvotes
Toronto
fdl wrote:
Mar 3rd, 2017 9:48 am
Posted :) enjoy.
Not sure how many would enjoy Expressionless Face

Thanks tho
Deal Addict
Dec 6, 2006
3956 posts
788 upvotes
Toronto
fdl wrote:
Mar 3rd, 2017 12:37 pm
Here are the biggest % gainers y over y from the list above only. This is in one year folks. Sustainable?

Stoufville: 58%
Newmarket: 48%
Richmond Hill: 41%
Vaughan: 39%
Markham: 39%
King: 38%
Toronto East: 34%
Toronto Central: 34%
Toronto West: 28%
Aurora: 21%
Of course it wouldn't be sustainable. But does that even matter? It's already at a level that only the top 5% can afford unless you already own something. And I'll not so delusional like so.e here to think 20% increase not sustainable means 50% crash... there is an ocean apart in between the two.
Deal Fanatic
Feb 9, 2009
5813 posts
3091 upvotes
50% in Newmarket... never imagined this would happen in my lifetime..... people buying into this yikes...
Deal Fanatic
User avatar
Mar 31, 2008
9815 posts
1358 upvotes
Toronto
Sanyo wrote:
Mar 5th, 2017 8:11 pm
50% in Newmarket... never imagined this would happen in my lifetime..... people buying into this yikes...
People utterly want the suburban life.
Deal Fanatic
May 1, 2012
7000 posts
3429 upvotes
Markham
RE Market going up: Won't buy because it's going to tank, refuse to buy at top!
RE Market going down: Won't buy because it's not done tanking it, refuse to buy anywhere but the bottom!
RE Market bottomed: Won't buy because it is an asset class where I will lose money!
RE Market is bouncing back: Won't buy because it just crashed so it'll crash again!

So....?
Deal Expert
May 30, 2005
39845 posts
1752 upvotes
Richmond Hill
fdl wrote:
Mar 3rd, 2017 12:37 pm
Here are the biggest % gainers y over y from the list above only. This is in one year folks. Sustainable?

Stoufville: 58%
Newmarket: 48%
Richmond Hill: 41%
Vaughan: 39%
Markham: 39%
King: 38%
Toronto East: 34%
Toronto Central: 34%
Toronto West: 28%
Aurora: 21%
Any guess why Newmarket is significantly more desirable than Aurora?
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Sr. Member
Jul 3, 2007
706 posts
888 upvotes
Anikiri wrote:
Mar 6th, 2017 10:50 am
RE Market going up: Won't buy because it's going to tank, refuse to buy at top!
RE Market going down: Won't buy because it's not done tanking it, refuse to buy anywhere but the bottom!
RE Market bottomed: Won't buy because it is an asset class where I will lose money!
RE Market is bouncing back: Won't buy because it just crashed so it'll crash again!

So....?
Lol aint that the truth...what a mess.....turner had a great blog post on the RE industry causing this whole mess , aside from a few other factors....agree 100% with him, something needs to be done by the regulators

http://www.greaterfool.ca/2017/03/05/th ... ulators-4/
[OP]
Deal Addict
Dec 5, 2009
4778 posts
2616 upvotes
Jon Lai wrote:
Mar 6th, 2017 10:57 am
Any guess why Newmarket is significantly more desirable than Aurora?
It's not. Keep in mind those are just percentage increases, and only looking at Feb to Feb. Detached avg is still higher in Aurora.

LINK: http://trebhome.com/market_news/market_ ... mw1702.pdf

Feb Detached avg:
Toronto overall: $1.573M
Toronto Central: $2.503M
Toronto West: $1.129M
Toronto East: $1.049M

York Region overall: $1.466M
Richmond Hill: $1.775M
Markham: $1.731M
King: $1.673M
Vaughan: $1.574M
Aurora: $1.336M
Stoufville: $1.334M
Newmarket: $1.203M
Others - see report.

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