Real Estate

GTA house prices, will be going even higher?

  • Last Updated:
  • Aug 17th, 2017 6:05 pm
Tags:
None
Member
Sep 1, 2013
402 posts
94 upvotes
Chickinvic wrote:
Aug 3rd, 2016 3:43 pm
And when the asset "value" goes down once in a blue moon ...the debt is still very much there even though the assets rebound to a higher level a year later.
There. Better.
Deal Fanatic
User avatar
Apr 9, 2006
6971 posts
7480 upvotes
GT-EH
TREB Market Watch (July 2016):

http://www.trebhome.com/market_news/mar ... mw1607.pdf

YoY STATS:
  • Sales +1.8%
  • New Listings -7.4%
  • Active Listings -31.9%
  • Average Price 16.6%
  • Average DOM -27.3%
Average Single Detached continues to rise:
  • Toronto Central: 1.996M
  • King: 1.557M
  • Richmond Hill: 1.493M
  • Markham 1.411M
  • Vaughan 1.231M
I just like to collect things! ¯\_(ツ)_/¯
Behold, true glory. #PCMasterRace!
Deal Fanatic
User avatar
Apr 9, 2006
6971 posts
7480 upvotes
GT-EH
TREB Market Watch (July 2016):

http://www.trebhome.com/market_news/mar ... mw1607.pdf

YoY STATS:
  • Sales +1.8%
  • New Listings -7.4%
  • Active Listings -31.9%
  • Average Price 16.6%
  • Average DOM -27.3%
Average Single Detached continues to rise:
  • Toronto Central: 1.996M
  • King: 1.557M
  • Richmond Hill: 1.493M
  • Markham 1.411M
  • Vaughan 1.231M
I just like to collect things! ¯\_(ツ)_/¯
Behold, true glory. #PCMasterRace!
Deal Fanatic
User avatar
Apr 9, 2006
6971 posts
7480 upvotes
GT-EH
TREB Market Watch (July 2016):

http://www.trebhome.com/market_news/mar ... mw1607.pdf

YoY STATS:
  • Sales +1.8%
  • New Listings -7.4%
  • Active Listings -31.9%
  • Average Price 16.6%
  • Average DOM -27.3%
Average Single Detached continues to rise:
  • Toronto Central: 1.996M
  • King: 1.557M
  • Richmond Hill: 1.493M
  • Markham 1.411M
  • Vaughan 1.231M
I just like to collect things! ¯\_(ツ)_/¯
Behold, true glory. #PCMasterRace!
Deal Addict
User avatar
Dec 27, 2009
3164 posts
1162 upvotes
Ottawa, ON
Ironcat wrote:
Aug 3rd, 2016 4:35 pm
Chickinvic wrote:
Aug 3rd, 2016 3:43 pm
And when the asset "value" goes down once in a blue moon ...the debt is still very much there even though the assets rebound to a higher level a year later.
There. Better.
I guess you haven't lived through a real correction.
Member
Sep 1, 2013
402 posts
94 upvotes
Chickinvic wrote:
Aug 4th, 2016 3:33 pm
Ironcat wrote:
Aug 3rd, 2016 4:35 pm
Chickinvic wrote:
Aug 3rd, 2016 3:43 pm
And when the asset "value" goes down once in a blue moon ...the debt is still very much there even though the assets rebound to a higher level a year later.
There. Better.
I guess you haven't lived through a real correction.
And I guess you have been sleeping through the last two.
Deal Addict
User avatar
Dec 27, 2009
3164 posts
1162 upvotes
Ottawa, ON
Ironcat wrote:
Aug 4th, 2016 6:45 pm
Chickinvic wrote:
Aug 4th, 2016 3:33 pm
Ironcat wrote:
Aug 3rd, 2016 4:35 pm

There. Better.
I guess you haven't lived through a real correction.
And I guess you have been sleeping through the last two.
You seem to think your real estate is not vulnerable to the same level of corrections that have indeed happened in the past. Good luck with that. It's different this time...
Member
May 5, 2013
311 posts
96 upvotes
Chickinvic wrote:
Aug 5th, 2016 12:09 pm
Ironcat wrote:
Aug 4th, 2016 6:45 pm
Chickinvic wrote:
Aug 4th, 2016 3:33 pm


I guess you haven't lived through a real correction.
And I guess you have been sleeping through the last two.
You seem to think your real estate is not vulnerable to the same level of corrections that have indeed happened in the past. Good luck with that. It's different this time...
It will happen, but when it happens those who complain the most in here most likely will get hurt the most. Historically the rich most likely will get richer.
Member
Sep 1, 2013
402 posts
94 upvotes
Chickinvic wrote:
Aug 5th, 2016 12:09 pm
Ironcat wrote:
Aug 4th, 2016 6:45 pm
Chickinvic wrote:
Aug 4th, 2016 3:33 pm


I guess you haven't lived through a real correction.
And I guess you have been sleeping through the last two.
You seem to think your real estate is not vulnerable to the same level of corrections that have indeed happened in the past. Good luck with that. It's different this time...
Here is a Chinese proverb worth a muse:
“Pearls don’t lie on the seashore. If you want one, you must dive for it.”
Just because something is vulnerable to a once-in-a-blue-moon correction doesn't mean I should run away from it and hide in mom's basement. Want the reward? Take the risk.
Deal Addict
Nov 6, 2007
1373 posts
660 upvotes
North York
I know of a couple who kept on saying crash is coming for 3y and now they finally stopped saying it and looking for a 1mil townhomes. They could have gotten a 1mil single detached house 3y ago in North York and it would be worth 2mil by now. They had the down payment but just kept believeing in a crash and now they are screwed.

RE will only crash IF the supply is higher than demand. Who knows if there will be a correction or not but again, it's none of most house owners business cuz most houses owners I know will hold on to their current house until they die...
Deal Addict
User avatar
Sep 23, 2014
1251 posts
258 upvotes
Toronto, ON
Aritzia wrote:
Aug 5th, 2016 8:28 pm
I know of a couple who kept on saying crash is coming for 3y and now they finally stopped saying it and looking for a 1mil townhomes. They could have gotten a 1mil single detached house 3y ago in North York and it would be worth 2mil by now. They had the down payment but just kept believeing in a crash and now they are screwed.

RE will only crash IF the supply is higher than demand. Who knows if there will be a correction or not but again, it's none of most house owners business cuz most houses owners I know will hold on to their current house until they die...
Let me make a minor correction - RE price will stabilize in growth if supply catches up with constant demand. It will only crash if the market is over supplied and demand suddenly seizes. Anyways, people that complains about foreign ownership and rising prices are just looking for a scapegoat and simple logic and math prevails that it is impossible to have foreign owners owning any significant % of RE in Canada. Even 15%+ is stretching it to the extreme. Based on 2013 information, Canadian home ownership rate is 67% and one can solve the math on their own :)
i7-3970x | ASUS STRIX GeForce GTX 970 | Triple NEC PA301W
FreeNAS & Plex Server Intel XEON E3 1265L V3 | Supermicro X10SAE | 16GB DDR3 ECC RAM | 6 X 3TB HGST 7K4000 Ultrastar RAIDZ2 | 3 X 3TB HGST 7K4000 Ultrastar RAIDZ1
Interactive Brokers | Virtual Brokers
Deal Fanatic
Dec 27, 2013
5824 posts
1922 upvotes
Toronto
a lot of houses closing under asking, with a few rarities closing above asking..... however July/August is usually slower period. We will see what happens with September. But I think we've actually reached peak as price acceleration has significantly slowed down since April/May/June.
Deal Addict
User avatar
Dec 20, 2004
4542 posts
207 upvotes
Toronto
I remember when I bought my condo in downtown Toronto about 10 years ago, people were saying I was stupid and should hold out for the impending "crash"

lol...
Deal Fanatic
Jan 15, 2004
5150 posts
342 upvotes
Detached house in good matured neighbourhood is safe as the supply is limited. However, the same cannot be said for condo.

Top