Real Estate

Locked: Coronavirus impact on Real Estate

  • Last Updated:
  • Oct 31st, 2020 11:26 pm
Deal Addict
User avatar
Nov 5, 2018
1600 posts
2431 upvotes
Toronto
mazerbeaner wrote: Bank of Canada wants to know if you are okay with keeping rates low, negative interest rates, higher inflation targets etc.

https://letstalkinflation.ca.engagement ... vey-today1
They have no idea what they are doing, so they want our approval to make them feel better.
I do not need approval, I do not need friends. I do what I want.
Deal Fanatic
Feb 22, 2011
7299 posts
7784 upvotes
Toronto
CondoMan98 wrote: They have no idea what they are doing, so they want our approval to make them feel better.
I feel like they already decided to do those things and will just use this survey as justification. Release whatever stats show support.
Jr. Member
Sep 13, 2007
148 posts
183 upvotes
toronto
CondoMan98 wrote: They have no idea what they are doing, so they want our approval to make them feel better.
True. And with a drama teacher at the helm supported by a journalist as the "finance minister", this country is on its way to be the next Venezuela of the north.
Deal Addict
User avatar
Nov 5, 2018
1600 posts
2431 upvotes
Toronto
als98 wrote: True. And with a drama teacher at the helm supported by a journalist as the "finance minister", this country is on its way to be the next Venezuela of the north.
If we can't get these people out, we are screwed. Who is actually voting liberal? How dumb are these people!!!
I do not need approval, I do not need friends. I do what I want.
Deal Fanatic
Feb 22, 2011
7299 posts
7784 upvotes
Toronto
How is inventory in other burbs? I am looking at the blocks around me in Whitby and it is actually insane. There are only 3 properties total for sale and all are asking $900k or more (one asking $1.7m lol). That might not sound like a lot but even in 2017 a 4 bed 4 bath house was under $700k. There are literally 0 semis or towns listed and no 3 bedroom houses at all. This is a big area too from Garden to Garrard and Rossland to Taunton. I have never seen this little inventory, even in 2017 there were always at least 10-20 listings of various types and sizes.
Deal Addict
User avatar
Nov 5, 2018
1600 posts
2431 upvotes
Toronto
mazerbeaner wrote: How is inventory in other burbs? I am looking at the blocks around me in Whitby and it is actually insane. There are only 3 properties total for sale and all are asking $900k or more (one asking $1.7m lol). That might not sound like a lot but even in 2017 a 4 bed 4 bath house was under $700k. There are literally 0 semis or towns listed and no 3 bedroom houses at all. This is a big area too from Garden to Garrard and Rossland to Taunton. I have never seen this little inventory, even in 2017 there were always at least 10-20 listings of various types and sizes.
Everyone wants the hell out of downtown. Not enough inventory in the burbs.
I do not need approval, I do not need friends. I do what I want.
Deal Addict
Jan 26, 2016
1638 posts
1466 upvotes
Toronto, ON
CondoMan98 wrote: If we can't get these people out, we are screwed. Who is actually voting liberal? How dumb are these people!!!
Yeah you want to bring back the 1930's style depression? All research shows you need to spend your way out of a recession.
Deal Guru
Feb 29, 2008
12555 posts
7762 upvotes
CondoMan98 wrote: Everyone wants the hell out of downtown. Not enough inventory in the burbs.
How do you say that with a straight face?
Deal Guru
Feb 29, 2008
12555 posts
7762 upvotes
The people that were pumping downtown condos day in, day out 24/7 are now pumping the suburbs and trashing downtown condos? Probably has nothing to do with the fact that thry are buying and own in the burbs? Nah. Face With Tears Of Joy

I own in both so can’t say I’m being biased.
Member
May 3, 2010
353 posts
84 upvotes
wootang77 wrote: Do it. Buy detached high, sell condo low. It's investing 101. You got this.
I don't think why you have to reply with such arrogance. I asked for people's opinions, not their judgments. But I suppose people have to deal with your terrible attitude as a price for your expert advice, right?

And you sure do seem to know real estate 101. Cuz judging from your contempt for my question, it seems like if you were in my situation, you'd definitely wait until condo's go high again only for detached to go even higher. How do I know this? cuz for the past 10 years, detached market has not stagnated and has consistently gone higher. Condo's, on the other hand, have seen a correction resulting from covid. So if I wait for the condo market to get back on track, if it ever does, I will be spending even more on a detached than what I would spend now.

Anyways, thank you for your opinion.
Member
Jan 29, 2007
273 posts
57 upvotes
Markham
So before i got into purchase and sale, I would agree with "cant time the market, buy whenever its time" - I still agree with that saying.

But when you're buying and selling simultaneously, there's a certain degree of "timing" because condos, townhouses, detached, and different neighbourhoods are pretty much all different products. Yes sure they're all in the same Canada real estate market and therefore correlated to a certain extent, but there's still wins to be had if you sell your product at a high and buy another product at a low.

Suburbs townhouses are insanely hot right now. Certain other products, not as hot, but may become hot in the future. So to a certain extent, I agree with "dont time the market, but time the market" saying.
Newbie
Aug 13, 2020
69 posts
77 upvotes
mazerbeaner wrote: How is inventory in other burbs? I am looking at the blocks around me in Whitby and it is actually insane. There are only 3 properties total for sale and all are asking $900k or more (one asking $1.7m lol). That might not sound like a lot but even in 2017 a 4 bed 4 bath house was under $700k. There are literally 0 semis or towns listed and no 3 bedroom houses at all. This is a big area too from Garden to Garrard and Rossland to Taunton. I have never seen this little inventory, even in 2017 there were always at least 10-20 listings of various types and sizes.
Seems like Durham region is going for a re-rating. This region has had a low inventory from some time. Overall, I think Whitby is the hottest in that area.
Sr. Member
May 4, 2006
523 posts
226 upvotes
Mississauga
Add Milton to that list....towns and semis are flying, and there is inventory in Milton....agent thinks due to low inventory in Oakville (desirable area), Milton being next door is benefiting.
DealFind25 wrote: Seems like Durham region is going for a re-rating. This region has had a low inventory from some time. Overall, I think Whitby is the hottest in that area.
Deal Fanatic
User avatar
Sep 8, 2007
8716 posts
9525 upvotes
Way Out of GTA
scamit wrote: Add Milton to that list....towns and semis are flying, and there is inventory in Milton....agent thinks due to low inventory in Oakville (desirable area), Milton being next door is benefiting.
Suburban towns and semis sure do seem like the current "bubble". But it's hard to predict what's the catalyst for it to stop. Maybe when condos look relatively attractive again?
"It is in times of great fear or greed that the most opportunity exists."
Temp. Banned
Apr 5, 2013
4848 posts
1928 upvotes
markham
als98 wrote: True. And with a drama teacher at the helm supported by a journalist as the "finance minister", this country is on its way to be the next Venezuela of the north.
so, ..how soon or when does that happen?...i only have maybe 20 good years left on this earth...after that,,dont care what life is like....or if the federal cash taps get shut off, get set for a real nasty recession at the price of assets...once free cash disappears and there is still 11-13% unemployment , there is no cash left spend...better yet govt austerity programs so that the little can really suffer

...pick your poison...i like to die a slow death enjoying luxury, rather than suffer and save go without under the future threat of the debt bogeyman...i probably wont live that long

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