Real Estate

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

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  • Feb 3rd, 2023 4:08 pm
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Deal Expert
Feb 29, 2008
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Tarrana & The Ri…
BRKAMZN wrote: Are they condo townhouses and they are under $1 million per unit? If so, then it would explain why they sold like hot cakes.
Freehold and started at $900K - over $1M
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Jul 4, 2006
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BRKAMZN wrote:
Are they condo townhouses and they are under $1 million per unit? If so, then it would explain why they sold like hot cakes.
It's at McCowan and 16th. You can find the floorplans here https://condonow.com/Trendi-Towns. The site plan is part of the scrolling image in the overview tab.

The front steps for the units facing McCowan go straight to the McCowan sidewalk. You can see how close it is on google street view.

Not labelled on the site plan is a place of worship on the north side of the development. I don't know what their parking situation is but I would be concerned that any parking spillover would go right into the Treasure Hill development. Btw, this is not a statement about any religion, it's a statement about me being a grouchy old man. I'd worry the same if there was a skating rink or library that didn't have adequate parking. I could deal with crowds if there was more benefit to me, like living around TooGood Pond, but this development/location is pretty generic even if the finish is nice.
JayLove06 wrote: Freehold and started at $900K - over $1M
+ maintenance fees, right? I can't recall but thought it was a couple hundred a month.

So back on topic... looks like people are still buying if the marketing is right. But maybe we're the only two that don't like this project if it's sold out. lol.
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Feb 9, 2013
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Mississauga
nununugget wrote: No money coming in since the implementation of the foreign buyers tax.
FBT was in place since April 2017. That doesn't explain Markham down for particularly this month
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May 18, 2015
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Thornhill, ON
jdu0ng wrote: FBT was in place since April 2017. That doesn't explain Markham down for particularly this month
It also doesn't explain why Vancouver started to drop a month before the FBT was announced.
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Feb 22, 2011
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Toronto
jonkoktosen wrote: It also doesn't explain why Vancouver started to drop a month before the FBT was announced.
Hmm Markham and Vancouver having issues, almost like something is going down in China...
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Dec 11, 2010
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Nothing really informative in this thread, everyone just spitting out sh*t to support their agenda.
You'll Never Walk Alone.
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Apr 21, 2004
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^ Amazing you read 10,750 posts to be able to confirm that. :)
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Jul 14, 2008
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alanbrenton wrote: Who's he?

Do I really want to know?
I'm dating myself then. :)

There was an older movie called Short Circuit (might be like Wall-E?). Anyway, he grabs a book (a dictionary I think) and reads it entirely in a moment as he flips through the pages.
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onlineharvest wrote: I'm dating myself then. :)

There was an older movie called Short Circuit (might be like Wall-E?). Anyway, he grabs a book (a dictionary I think) and reads it entirely in a moment as he flips through the pages.
I see. Having been on RFD since 2004, I'm almost certain that was just a smart aleck remark coming from someone not affected by housing prices (self-made billionaire, lives with mama and papa, lives outside the GTA, etc.)
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alanbrenton wrote: I see. Having been on RFD since 2004, I'm almost certain that was just a smart aleck remark coming from someone not affected by housing prices (self-made billionaire, lives with mama and papa, live outside the GTA, etc.)
Did we just create a new persona for the RE forum?

Hence forth all of the qualities you list shall be known as a Johnny 5.

So let it be written.
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Apr 21, 2004
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onlineharvest wrote: Did we just create a new persona for the RE forum?

Hence forth all of the qualities you list shall be known as a Johnny 5.

So let it be written.
Make sure the persona only applies to r/e forums relating to the GTA. It's where we find the most hate for landlords, investors, non-depreciating assets.
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Jan 22, 2003
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Austin/Markham
alanbrenton wrote: Who's he?

Do I really want to know?

He's a robot created by a white dude in Indian blackface....no j/k
__
demandez-lui si elle dormira avec vous pour un LED keychain
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Dec 17, 2009
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JayLove06 wrote: Perhaps, but I was looking at a Treasure Hill project in Markham and phase 1 got sold out in a week.
Chinese or maybe Asian people in general would pay a HUGE premium just for brand new.

There were new developments at Bayview and Elgin Mills recently, I think townhouses starting at 1.1 million, they were sold out in a very short amount of time. But you can literally go down the street to Rouge Woods area and get a detached for roughly the same price, or down to Crosby and get a detached for cheaper.
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Feb 22, 2011
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S52B wrote: Chinese or maybe Asian people in general would pay a HUGE premium just for brand new.

There were new developments at Bayview and Elgin Mills recently, I think townhouses starting at 1.1 million, they were sold out in a very short amount of time. But you can literally go down the street to Rouge Woods area and get a detached for roughly the same price, or down to Crosby and get a detached for cheaper.
If you think about a long term investment to raise your family I can understand why.

I doubt anyone from 1970 cares if they paid 80k or 100k today.
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Apr 21, 2004
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S52B wrote: Chinese or maybe Asian people in general would pay a HUGE premium just for brand new.

There were new developments at Bayview and Elgin Mills recently, I think townhouses starting at 1.1 million, they were sold out in a very short amount of time. But you can literally go down the street to Rouge Woods area and get a detached for roughly the same price, or down to Crosby and get a detached for cheaper.
That's likely because it was cheaper (less frustrating) to buy new than to have to participate in a bidding war prior to short-term peak in Spring 2017.

Behaviors should change now that it's harder to pull off phantom / shill bids.
Deal Expert
Feb 29, 2008
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Tarrana & The Ri…
alanbrenton wrote: That's likely because it was cheaper (less frustrating) to buy new than to have to participate in a bidding war prior to short-term peak in Spring 2017.

Behaviors should change now that it's harder to pull off phantom / shill bids.
Good point.

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