Real Estate

Locked: 7 Years of October Toronto Prices, detached and condos at all time high for month of October

  • Last Updated:
  • Nov 9th, 2018 2:33 pm
Deal Expert
Feb 22, 2011
16521 posts
21871 upvotes
Toronto
joepipe wrote: make me a bet on $2 million average priced Toronto condos in 2028... please ....
Why you take 0 accountability already for being wrong for 5 years, no way you admit it ever. You are incapable of admitting you are wrong.

Read your comments from 2014;
"All the buyers in the last 12 months are getting fleeced"
"so even a 1% rate hike in the next few years will be a problem for many because they're payments will go up and prices will come down"
"these prices are not sustainable based on stagnant income levels in the GTA and rising costs for all services , taxes, gas, etc. "
"I'll give you a perfect example of how screwed this market is.. a $350k condo in downtown Toronto, ENTRY LEVEL 600 square feet 1 bedroom"

Now look where you said them and what happened since. You were 100% wrong and can't even admit it. Stop posting this garbage people will listen to your stupid advice and be priced out of their beloved city.

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Nov 15, 2004
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rjg4235 wrote: Did you even read my comment? This post was from 5 YEARS ago saying that interest hikes will crash condo prices. How can you use the SAME argument for FIVE years and be wrong EVERY year and keep saying the same thing?

I am starting to think these accounts are bots. No sane human being will post the SAME THING for five years.
So someone who posted 5 years ago that an interest rate rise is saying the same thing 5 years later when interest rates haven't risen in 5 years. Why would they do such a thing? What would cause them to consistently put forth a hypothesis awaiting an event that will see it tested?
Deal Expert
Feb 22, 2011
16521 posts
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Piro21 wrote: So someone who posted 5 years ago that an interest rate rise is saying the same thing 5 years later when interest rates haven't risen in 5 years. Why would they do such a thing? What would cause them to consistently put forth a hypothesis awaiting an event that will see it tested?
It's not one post. It is hundreds. Every other day, for 5 years, saying the same thing, always wrong. Literally still until today still saying the exact same thing.

And next year I guarantee you there will be a joepipe post that ONE DAY SOON condo prices in Toronto will crash.

I've posted a lot over the years as well about how you should invest in condos because they are going to go up, the difference is I was right.
Deal Addict
Jul 3, 2007
4153 posts
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rjg4235 wrote: It's not one post. It is hundreds. Every other day, for 5 years, saying the same thing, always wrong. Literally still until today still saying the exact same thing.

And next year I guarantee you there will be a joepipe post that ONE DAY SOON condo prices in Toronto will crash.

I've posted a lot over the years as well about how you should invest in condos because they are going to go up, the difference is I was right.
still dont see a wager offer from you
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Nov 15, 2004
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rjg4235 wrote: It's not one post. It is hundreds. Every other day, for 5 years, saying the same thing, always wrong. Literally still until today still saying the exact same thing.

And next year I guarantee you there will be a joepipe post that ONE DAY SOON condo prices in Toronto will crash.

I've posted a lot over the years as well about how you should invest in condos because they are going to go up, the difference is I was right.
Read this chart and tell me if you notice a trend over this past decade you were sitting back crowing about how right you were and this year:
https://tradingeconomics.com/canada/bank-lending-rate
Last edited by Piro21 on Nov 6th, 2018 3:47 pm, edited 1 time in total.
Deal Expert
Feb 22, 2011
16521 posts
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joepipe wrote: still dont see a wager offer from you
My wager is owning a condo DT as a rental property, it's a cool wager where I am already up $300,000 in appreciation and $75,000 in mortgage paydown and counting. My tenants have paid over $100,000 in rent and have gained 0 from it. Now paying more than the carrying costs too so can't even invest a differential. They probably read your post 5 years ago and hate their life for not buying instead.
Deal Addict
Jul 3, 2007
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rjg4235 wrote: My wager is owning a condo DT as a rental property, it's a cool wager where I am already up $300,000 in appreciation and $75,000 in mortgage paydown and counting. My tenants have paid over $100,000 in rent and have gained 0 from it. Now paying more than the carrying costs too so can't even invest a differential. They probably read your post 5 years ago and hate their life for not buying instead.
wimp....
Deal Expert
Feb 22, 2011
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joepipe wrote: wimp....
Letting $400k ride on an asset when you could divest and keep the guaranteed return is not what a wimp would do. They would have cashed out $50k in 2014 and spent 5 years predicting a crash.
Deal Addict
Sep 14, 2010
1200 posts
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in before redmask comes and locks it again.
Deal Addict
Jul 3, 2007
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rjg4235 wrote: Letting $400k ride on an asset when you could divest and keep the guaranteed return is not what a wimp would do. They would have cashed out $50k in 2014 and spent 5 years predicting a crash.
still waiting for the condo bet...
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Dec 13, 2016
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joepipe wrote: still waiting for the condo bet...
What bet?

I'll take the bet that condos will double in 7 years.

$100,000

Your move.
Deal Fanatic
Dec 6, 2006
5805 posts
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joepipe wrote: still dont see a wager offer from you
I see someone wanting to show his e-pen but nobody gives a flying .... sad.
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Dec 21, 2013
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Piro21 wrote: Yeah, this is totally sustainable. There's no reason the average Toronto house shouldn't cost 10.5 million dollars by 2039, and 20.8 million 7 years after that. Everyone can keep pace with a constant 17% growth rate when wages don't really rise.
You are assuming that people are mortgaging the full purchase price which is absolutely not the case. These are people who are moving up the property ownership ladder.
Those that bought 10-15 years ago for $400K flipped up to $800K and now $1.2M all the while keeping a similar mortgage amount.
The people getting in today, that's another story, but they aren't likely to jump steps on the property ladder - I.e. into a $1.3M house with a $1.1M mortgage right off that bat (at least that's not the norm).


Electric Light Bulb
Deal Expert
Feb 22, 2011
16521 posts
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The most amazing part about recent posts is how the conversation has completely shifted from prices are crashing, back to prices will crash any day now. Seems everyone is in agreement prices are currently going up.
Deal Addict
Jul 3, 2007
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BiegeToyota wrote: What bet?

I'll take the bet that condos will double in 7 years.

$100,000

Your move.
i'll do that!
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Dec 13, 2016
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joepipe wrote: i'll do that!
How?
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Jul 3, 2007
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BiegeToyota wrote: How?
dont worry im good for it
Banned
Jun 1, 2017
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BiegeToyota wrote: What bet?

I'll take the bet that condos will double in 7 years.

$100,000

Your move.
It is possible detached would double, too.
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Jul 3, 2007
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neilsmith43 wrote: It is possible detached would double, too.
with maybe 3% wage growth and rates going up ? some big predictions on here today....
Last edited by joepipe on Nov 6th, 2018 4:43 pm, edited 1 time in total.
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Dec 13, 2016
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All talk :(

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