Real Estate

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

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  • Nov 14th, 2018 5:20 pm
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BiegeToyota wrote:
May 23rd, 2017 10:14 pm
So, they are figuring out the market by calling the crash for the past 10 years in the biggest economic city in Canada where everyone wants to live in? How long will it take them to figure it out that biggest, most important cities in a country simply don't crash? Another 10 years perhaps.

The haters mentioned previously there are better cash flow positive markets such as Ottawa. That's certainly where I am going after being priced out of Toronto - even Hamilton. Why bash Toronto non stop? The crash isn't happening, but priced out haters will hate.
A few of things:

1. does it upset you deeply that someone is expecting a real estate crash in the biggest economic city in Canada? What about people who put ketchup on their steak? Would that person be a steak hater? They're both just as infuriating, but ridiculous things to be angry about.

2. Not everyone in Canada wants to live in Toronto. Thats as bad as it comes, for grasping at straws. If that was the case, Montreal, Calgary, Edmonton and Vancouver would not exist. There's way better places than Toronto to live in, depending on your personal needs, likes, and dislikes.

3. Big important cities in the country do crash. Toronto has had 3 crashes:

Image

Priced out haters are composed of first time buyers, investors looking for a property to hold/rent/flip and anyone up-sizing their current home that might be happy to sell for a higher price until they get sticker shock on the up-scaling purchase price.

Only way to make money out of the current market is flip for profit or cash out and leave the city, and people who actively do those things, you probably wont find on RFD.
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daivey wrote:
May 23rd, 2017 10:28 pm
interest rates are going down guys. ive been saying that over and over again.

RATES ARE GOING DOWN.

NOT UP.
Yes, more likely to head DOWN than UP in the longer term.

For now: BoC will probably keep rates the same today.
http://www.680news.com/2017/05/24/bank- ... to-2017-2/

I also believe it's highly likely their going to keep it steady for the next 12 months.

If oil prices can't breach the $60 mark, there's no reason to raise rates.
If oil prices plummet to $20 or less, rates will go lower and the Canadian peso will head towards 60 cents!
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Feb 13, 2017
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Anikiri wrote:
May 23rd, 2017 3:07 pm
Whats with all the tough talk from the bear crowd all of a sudden? Because the market appears to be softer?

It's been between half a decade to over a decade that you young cubbies started mouthing off about RE's phenomenal collapse. Not only has that not transpired, but it has gone sky high the other way. There is no longer a talk about reverting prices back to 2001 levels, the talk is reverting levels back to 2015. Any and all of you who listened to this garbage drivel has been burnt nine ways to hell.

Even if prices pull back, even if the pull back is a good chunk, it would still not make up for the last decade of payments and appreciation. You cannot recover time, you squandered all your purchasing abilities because of some unfounded ability to somehow foresee the future.
LOL @ all the bears ignoring this truth right here haha...

cuts deep doesn't it.

Sucks knowing a 30% collapse (which is pretty unlikely), brings us back to only 2016 prices..
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Feb 13, 2017
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daivey wrote:
May 23rd, 2017 10:28 pm
interest rates are going down guys. ive been saying that over and over again.

RATES ARE GOING DOWN.

NOT UP.
Everyone knows they are either going down or staying the same (the bears are the only ones trying to convince RFD they are going up lol)...Canada has ZERO room to raise rates even 0.25%...rates will be low for a VERY VERY VERRRRRRY long time...
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SmugDruggler wrote:
May 23rd, 2017 9:29 am
I find it interesting that insults like this one are always coming from the bullish side. The bears seem eager to debate on numbers and the bulls prefer to derail by insisting "it's different", "those metrics no longer work", and "you're just a bitter priced out renter".
lol, good one. the bears get torched by the only number that matters, sale price. have been for over a decade. the bears refuse to believe that pulling numbers from your ass to explain the future but not the past will always fail.

But hey let's post up another graph of Japan or the Nasdaq.
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crocp8 wrote:
May 24th, 2017 8:53 am
Sucks knowing a 30% collapse (which is pretty unlikely), brings us back to only 2016 prices..
What's remarkable to me is that you don't think a 30% drop can happen when we just had a 30% rise. What goes up...
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Flavour wrote:
May 24th, 2017 9:00 am
lol, good one. the bears get torched by the only number that matters, sale price. have been for over a decade. the bears refuse to believe that pulling numbers from your ass to explain the future but not the past will always fail.

But hey let's post up another graph of Japan or the Nasdaq.
the bears are just hoping and PRAYING for a 30% crash....which A) will never happen (esp. with internet rates soon going down) and B) will only bring them back to 2016 prices. lol

its beyond sad has desperate they have become
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Flavour wrote:
May 24th, 2017 9:00 am
the only number that matters, sale price.
I think you're missing the point of the bear argument: that the sale price, while it has gone up, has gone up too much and is unsustainable. This isn't some wacky conspiracy theory that RFD forum-dwellers came up with. Even the Bank of Canada ahs said it.
the bears refuse to believe that pulling numbers from your ass to explain the future but not the past will always fail.
If you want to talk about the past, we can. I think that in 2009, the crash would have continued were it not saved by drastically lower interest rates, a back-door bailout of Canadian banks, and a worldwide rush by central banks to inject liquidity into the system. Do you think that's going to continue in perpetuity?
But hey let's post up another graph of Japan or the Nasdaq.
At least the bears are posting metrics. All I'm hearing from the bulls is "lolololol look how wrong you are. It's just going to keep going up to the MOON!"
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SmugDruggler wrote:
May 24th, 2017 9:08 am
I think you're missing the point of the bear argument: that the sale price, while it has gone up, has gone up too much and is unsustainable. This isn't some wacky conspiracy theory that RFD forum-dwellers came up with. Even the Bank of Canada ahs said it.


If you want to talk about the past, we can. I think that in 2009, the crash would have continued were it not saved by drastically lower interest rates, a back-door bailout of Canadian banks, and a worldwide rush by central banks to inject liquidity into the system. Do you think that's going to continue in perpetuity?


At least the bears are posting metrics. All I'm hearing from the bulls is "lolololol look how wrong you are. It's just going to keep going up to the MOON!"
That's because it is lol...we have had like 500% gains (exaggeration) in the last 10 years, what do you expect the bulls to post?

Even if the market were to crash 30%, we are now back to April 2016 prices (wooop deee freakkkkinnnnn doo)...and with interest rate about to be most likely cut, I expect the moon to be a reasonable assumption of where prices are about to go.
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crocp8 wrote:
May 24th, 2017 9:11 am
That's because it is lol...we have had like 500% gains (exaggeration) in the last 10 years, what do you expect the bulls to post?

Even if the market were to crash 30%, we are now back to April 2016 prices (wooop deee freakkkkinnnnn doo)...and with interest rate about to be most likely cut, I expect the moon to be a reasonable assumption of where prices are about to go.
Can you provide an economic justification with sources? Speculation and anecdotes are lovely and all, but something beyond your personal opinion would be more persuasive.
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crocp8 wrote:
May 24th, 2017 9:02 am
the bears are just hoping and PRAYING for a 30% crash....which A) will never happen (esp. with internet rates soon going down) and B) will only bring them back to 2016 prices. lol

its beyond sad has desperate they have become
I don't think anyone is praying for a crash, it would likely accompany a recession given how dependent the economy has become on real estate and related industries. I don't know why you think market corrections don't happen but I've lived through two, they definitely do happen and it's not a fun time. No one says "oh well its just back to last years prices" when they're happening. Many people actively tap their equity and use it for other purposes, any decrease is bad for them. You have a lot of people who just bought getting burned, first time buyers become more hesitant and over leveraged speculators can be in serious trouble. These kinds of things have ripple effects in the marketplace and affect psychology which is an important aspect that is often ignored. It's kind of disconcerting to see posts like this, people have become overly confident about the market but I guess that's to be expected after a long run of gains.
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SmugDruggler wrote:
May 24th, 2017 9:01 am
What's remarkable to me is that you don't think a 30% drop can happen when we just had a 30% rise. What goes up...
It can happen, but highly unlikely,

The BIGGER point is, even if it does happen, it only dials the clock back for you for 1 year (@2016 prices). :lol:
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GiOBoY wrote:
May 24th, 2017 9:31 am
It can happen, but highly unlikely,
Unlikely based on what?
The BIGGER point is, even if it does happen, it only dials the clock back for you for 1 year (@2016 prices). :lol:
You might want to check your math. A 30% decline after a 30% increase does not net out to zero.
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Redmask wrote:
May 24th, 2017 9:28 am
I don't think anyone is praying for a crash, it would likely accompany a recession given how dependent the economy has become on real estate and related industries. I don't know why you think market corrections don't happen but I've lived through two, they definitely do happen and it's not a fun time. No one says "oh well its just back to last years prices" when they're happening. Many people actively tap their equity and use it for other purposes, any decrease is bad for them. You have a lot of people who just bought getting burned, first time buyers become more hesitant and over leveraged speculators can be in serious trouble. These kinds of things have ripple effects in the marketplace and affect psychology which is an important aspect that is often ignored. It's kind of disconcerting to see posts like this, people have become overly confident about the market but I guess that's to be expected after a long run of gains.
I am not overly confident in this market, I actually rent and would not might a correction..I think it would be good for the market. With that said, no correction will ever allow me to buy a detached in GTA,

The reason I write posts like I do above is because the bears on this forum make me sick, you ask who is praying for a crash, about 90% of the RFD bears is who.
Just flip through this thread and read some of this comments. They think they are going to be snatching up detached homes in the GTA for $500,000 when everyone loses their homes.
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SmugDruggler wrote:
May 24th, 2017 9:33 am
Unlikely based on what?
Based on current macro-economic news. Get educated.
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