Real Estate

Coronavirus impact on Real Estate

  • Last Updated:
  • Oct 31st, 2020 12:33 pm
[OP]
Sr. Member
Mar 13, 2017
967 posts
1131 upvotes

Coronavirus impact on Real Estate

Curious what feelings are about this virus relating to the spring market?

I've noticed significant reductions in traffic over the last week in malls, costco, etc.

Thoughts?
8586 replies
Jr. Member
Apr 25, 2019
158 posts
168 upvotes
Ontario
IMO, RE will be strong in Ontario despite of corona virus spread.
Big price increases are coming in 2020. Stress test and fair housing plan kicked the can down the road. Now we are at the end of that road. Unless there is either a massive addition of new supply or a massive reduction in population growth, price increases will continue ...
Deal Addict
Dec 30, 2012
1098 posts
1145 upvotes
Toronto
There are definitely certain areas/municipalities to be avoided due to corona.
Member
User avatar
Dec 17, 2009
239 posts
154 upvotes
Better market because everyone is trying to leave China?
[OP]
Sr. Member
Mar 13, 2017
967 posts
1131 upvotes
S52B wrote: Better market because everyone is trying to leave China?
LOL. That's as good as $1500/SF and don't worry about negative cash flow.

This from another forum I'm following:


There was speculation up until now that the virus could be spread if the carrier was asymptomatic. This sounds like speculation has moved to verification.
Deal Addict
Mar 27, 2004
4542 posts
2178 upvotes
Toronto
King Toronto is selling for almost 2k$ sq ft ..
Full-time Realtor
Deal Addict
Jul 29, 2006
4072 posts
890 upvotes
what do you think, add in 5 boxes of n95 masks with the offer?
Deal Expert
May 30, 2005
44427 posts
4999 upvotes
Richmond Hill
I would welcome a correction. I've been cautious with my investments and stockpiling a lot more ecash and cash-like equivalents for the last 2 years compared to my usual allocations.
Artisan woodworker crafting live edge tables, end grain cutting boards, and other home decor
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Deal Expert
User avatar
Apr 21, 2004
54023 posts
18972 upvotes
nx6288 wrote: what do you think, add in 5 boxes of n95 masks with the offer?
I was just going to suggest wearing those masks.
Member
Jan 27, 2018
288 posts
222 upvotes
In a hot market the corona virus will get burned. We can have a chilled corona and chill; all will be ok with real estate in gta.
Jr. Member
Aug 21, 2017
195 posts
132 upvotes
I'd say no because the current situation seems rather mild compared to SARS.
Main driver for Toronto market is not rich Chinese investors - you can just take a look at RE in Markham/RH compared to other areas.

Biggest impact will come from this year's city budget meeting - let's see if vacancy and luxury home tax will be implemented.
1cat2dogs wrote: Curious what feelings are about this virus relating to the spring market?

I've noticed significant reductions in traffic over the last week in malls, costco, etc.

Thoughts?
Deal Addict
Jul 14, 2002
2444 posts
1042 upvotes
No significant impact in terms of migration.
But one of the top factors to house prices has always been the economy. And if the virus tips the economy into recession then that is a significant factor.
All ifs and no human knows what the future holds.
Banned
User avatar
May 21, 2019
199 posts
153 upvotes
It seems the spring market might be a soft one... people are avoiding going out.. not willing to take risks with the virus going around...
Deal Addict
Jan 26, 2016
1617 posts
1457 upvotes
Toronto, ON
MagicPants wrote: It seems the spring market might be a soft one... people are avoiding going out.. not willing to take risks with the virus going around...
LOL.
Newbie
Jan 30, 2020
98 posts
88 upvotes
I'm not normally a RE bear and I have a new construction closing in May. However the fact is that this virus could be and in my option is a black swan event. If you follow the news about the virus closely (check out the Reddit china_flu subreddit) you will quickly conclude that there is no way China can avoid a recession. A recession in China will spread around the world faster than the virus. Corporate earnings are going to get slashed all over the world and people are going to lose their jobs. The stock market will drop. This will greatly impact our housing market. That's the best case scenario and assumes that we don't get a widespread pandemic in Canada.

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