Real Estate

Coronavirus impact on Real Estate

  • Last Updated:
  • Oct 26th, 2020 7:52 am
Deal Guru
Feb 29, 2008
12236 posts
7352 upvotes
Medellin wrote: Banks are sleeping giants that are bout 5-10 years behind any fintech startup.

The fact that they're considering changing from the norm says a lot.



It's hard to explain to someone like you who probably doesn't work in the financial district. IYKYK.
I live downtown. Don’t work for financial sector. I’m downtown right now running errands. Banks can do whatever they want. It has no bearing on whether people want to live and play downtown. Doubt you live downtown.
Deal Fanatic
Feb 9, 2009
9338 posts
6952 upvotes
I think the only thing that can derail the market is raise in rates
Sr. Member
Jun 19, 2017
564 posts
840 upvotes
Sanyo wrote: I think the only thing that can derail the market is raise in rates
Falling rents seem to be a thing right now. How long do negative cash flow landlords hold onto their condos waiting for that trend to reverse?
Member
Aug 1, 2005
262 posts
149 upvotes
rodrickrod wrote: I am a Biochemist by education and career but I know that I can do many things outside of that role. I'm not incompetent the second I step outside the lab. I've done many things, including diagnose and fix vehicle problems. Expertise isn't black-and-white and I don't believe that people should be restricted to sticking within their current career title and treated as worthless outside of that.
Ah, you're a biochemist. You know, this whole atomic "theory" is a hoax. I've been reading some articles on social media lately about the Greek elemental theory of matter, and that's actually true. You can tell it's true because when you burn a log, it releases smoke (air), fire, coal (earth), and sap (water).

Now, I have no expertise in this area, but a doctor named Aristotle validated this idea. Plus I do hold a really strong opinion. And like you said, there's no reason people should be restricted to sticking with their area of expertise and treated as worthless outside of that.
Newbie
Sep 14, 2020
52 posts
55 upvotes
Edmonton, AB
metaphor_ wrote: Ah, you're a biochemist. You know, this whole atomic "theory" is a hoax. I've been reading some articles on social media lately about the Greek elemental theory of matter, and that's actually true. You can tell it's true because when you burn a log, it releases smoke (air), fire, coal (earth), and sap (water).

Now, I have no expertise in this area, but a doctor named Aristotle validated this idea. Plus I do hold a really strong opinion. And like you said, there's no reason people should be restricted to sticking with their area of expertise and treated as worthless outside of that.
That is not what I said. I said sticking within their current career title. Anyone with sufficient motivation and mental/physical capacity can develop expertise in anything. If they have a shared background education, such as what other doctors would have with a Virologist, then the task is even easier.
Deal Addict
Jul 3, 2007
2666 posts
2803 upvotes
Toronto
Qrewpt wrote: Falling rents seem to be a thing right now. How long do negative cash flow landlords hold onto their condos waiting for that trend to reverse?
yep , dont need to wait for rising rates....

Deal Guru
Feb 29, 2008
12236 posts
7352 upvotes
Rents have dropped but don't get caught up in sensationalized garbage. The condos in that tweet are shoeboxes. 36 Lisgar is under 500sqft. So a better, more accurate metric would be looking at rents per sqft as well as looking at which units are bound by rent control and which ones are not. Anyways, my building has had 10 leased units in the last 30 days which is more than usual. The most recent one was 1+1 650 sqft unit for $2K. The tiny, subpar units are facing the most pressure. Who would rent that when they can get a spacious 1+1 and lock in that rent for years to come? Are we back to the days of posting tweets from noname bears?

Even in the tweet guy says $1500 and the numbers he posted are nowhere near that.
Sr. Member
Jun 19, 2017
564 posts
840 upvotes
RolandCouch wrote: I can't even take them seriously when they say $1589 is $1500.
Does that really make it better? Just semantics, should have said in the $1500s but you get the idea.

Do you think price won't get reduced further to $1500? What stops rents from dropping further? Seems like we all of a sudden have a lot of supply coupled with less demand...not sure we've seen bottom yet.
Member
Aug 1, 2005
262 posts
149 upvotes
rodrickrod wrote: That is not what I said. I said sticking within their current career title. Anyone with sufficient motivation and mental/physical capacity can develop expertise in anything. If they have a shared background education, such as what other doctors would have with a Virologist, then the task is even easier.
Your example was that you learned to fix a car, which means that you were able to learn a skill outside of your area of expertise. Call it what you will - that's fine.

This arguments breaks down when you move out of the domain of skill and into the domain of opinion. Anti-maskers and anti-vaxxers are relying on belief rather than skill or Knowledge. Social media's given the anti-vaxxers and anti-maskers a huge echo chamber in which to reshare opinion and articles from fringe media. There's literally no skill development in the anti-vax/anti-mask environment. It's not leading people to become better reviewers of research. Rather, it's the Dunning-Kruger effect in action.

My point is this: There is no scientific or medical expertise in the anti-vax/anti-mask movement. It deserves zero airtime. Folks with transferable skills should be able to see through this movement entirely, and it disappoints me to see biochemists giving it the time of day. And to claim that "both sides are politicized" is disingenuous.
Last edited by metaphor_ on Sep 19th, 2020 9:20 pm, edited 1 time in total.
Member
Aug 1, 2005
262 posts
149 upvotes
joepipe wrote:
Question: Why are people moving into rental condos when the condo owner seems to be able to kick them out so easily or jack up their rent annually? Why not move into a purpose-built rental building?
Deal Fanatic
Feb 9, 2009
9338 posts
6952 upvotes
joepipe wrote: yep , dont need to wait for rising rates....

no doubt condos need a bit of a correction.

however also remember there are roughly 15,000 rentals on the market in the gta..if this was a normal year, intl' students alone would have eaten much of that inventory and also immigrants coming to toronto (canada is 3rd in the world in attracting int'l students, the bulk who come to ontario and the gta).

now you got about another 6-12 months of this thing out there -- condos could come down 15-20%. Detached is still on fire and it could be more on fire if there is a big second wave.

But if your an entry level buyer, it could be your time to get in soon. If your a move up buyer, your gonna have a hard time competing for the dwindling detached inventory in the gta..
Sr. Member
Jun 19, 2017
564 posts
840 upvotes
Sanyo wrote: no doubt condos need a bit of a correction.

however also remember there are roughly 15,000 rentals on the market in the gta..if this was a normal year, intl' students alone would have eaten much of that inventory and also immigrants coming to toronto (canada is 3rd in the world in attracting int'l students, the bulk who come to ontario and the gta).

now you got about another 6-12 months of this thing out there -- condos could come down 15-20%. Detached is still on fire and it could be more on fire if there is a big second wave.

But if your an entry level buyer, it could be your time to get in soon. If your a move up buyer, your gonna have a hard time competing for the dwindling detached inventory in the gta..
If condos drop, that will likely dampen the price of houses also as house buyers upsizing from condos lose down payment capacity.
Newbie
Sep 14, 2020
52 posts
55 upvotes
Edmonton, AB
metaphor_ wrote: That's a different argument. You actually said that people shouldn't be restricted to sticking with their area of expertise. Your example was that you can fix a car, which means that you were able to learn a skill outside of your area of expertise.

This arguments breaks down when you move out of the domain of skill and into the domain of opinion. Anti-maskers and anti-vaxxers are relying on belief rather than skill or Knowledge. Social media's given the anti-vaxxers and anti-maskers a huge echo chamber in which to reshare opinion and articles from fringe media. There's literally no skill development in the anti-vax/anti-mask environment. It's not leading people to become better reviewers of research. Rather, it's the Dunning-Kruger effect in action.
Pure nonsense and a massive strawman attack against your opponents. Yikes. Tell us more about how you managed to form your opinion based on "skill or knowledge" and anyone who disagrees with you must have formed theirs based on "belief" and lives in an echo chamber. That sounds highly believable and scientific. Face With Tears Of Joy

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