Real Estate

GTA house market

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  • Dec 7th, 2022 12:24 pm
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[OP]
Deal Guru
Feb 22, 2011
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Toronto

GTA house market

GTA house market discussion
Last edited by sircheersa on Feb 23rd, 2022 4:30 am, edited 3 times in total.
20535 replies
Deal Addict
Apr 29, 2010
1401 posts
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GTA
The real winner is the agents and the city which scoops all the fees and taxes
Deal Addict
Jan 15, 2010
1510 posts
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Toronto
You can argue all you want about condos, but it's clear there's a shortage of family sized homes all across the GTA. Combine this with current monetary policy and this is what you get.
Banned
Jul 23, 2020
473 posts
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DaMan12 wrote: You can argue all you want about condos, but it's clear there's a shortage of family sized homes all across the GTA. Combine this with current monetary policy and this is what you get.
Low-rise is where it's at. There is simply insufficient supply and always will be due to regulations. They can build an infinite number of condos in the GTA. That isn't the case for low-rise housing. The detached single family home is going to be increasingly rare, and hence increasingly expensive and out of reach for even upper-middle class Canadians.
Deal Addict
Feb 19, 2019
1789 posts
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Stouffville ON
Went to see this one in Whitby on the weekend, there was a line up of people trying to see the house, we were double and triple booked, offer day was suppose to be this week but it didn't make pass the weekend, 14 offers few days prior to offer day.
Nice house no arguing there, approx. 2800sf, $1.2M.
E5002381
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Dec 16, 2015
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Enjoy Peak 2017
To the moon
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Sep 21, 2018
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Redsanta wrote: Enjoy Peak 2017
Peak 2017? You mean the peak that was surpassed and forgotten about 3 short years later?
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silentguy wrote:
Peak 2017? You mean the peak that was surpassed and forgotten about 3 short years later?
Due to a “black swan”, a once in 100 years event, not normal condition.

Think long term, buy low and sell high. Not buy high.

You want to know what happen after 2017? Will you be hoping for another covid after 2020?
To the moon
Banned
Jul 23, 2020
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Redsanta wrote: Due to a “black swan”, a once in 100 years event, not normal condition.

Think long term, buy low and sell high. Not buy high.

You want to know what happen after 2017? Will you be hoping for another covid after 2020?
COVID-19 is not a black swan event. Global pandemics are not a surprise, in fact they are a certainty.

How much are condos down off peak prices? Buying today would be buying at the high (at least to date) essentially.
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sooonk wrote:
COVID-19 is not a black swan event. Global pandemics are not a surprise, in fact they are a certainty.

How much are condos down off peak prices? Buying today would be buying at the high (at least to date) essentially.
Yeah its also almost certain we’ll have another world war and meteor will strike earth again, just a matter of when Smiling Face With Open Mouth And Tightly-closed Eyes
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Jul 23, 2020
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Redsanta wrote: Yeah its also almost certain we’ll have another world war and meteor will strike earth again, just a matter of when Smiling Face With Open Mouth And Tightly-closed Eyes
Read Nassim Taleb's book if you're going to try to use the term...
With multiple warnings from experts in epidemiology and related public health fields that a major pandemic is not a question of if, but only of when—the current pandemic cannot be viewed as a Black Swan. It does not meet Taleb's first criteria of “lies outside the realm of regular expectations, because nothing in the past can convincingly point to its possibility”.
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May 9, 2017
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sooonk wrote: Read Nassim Taleb's book if you're going to try to use the term...
Great book. "Fooled by Randomness" and "Antifragile" are also excellent.
[OP]
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Feb 22, 2011
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Toronto
lolbeast wrote: The real winner is the agents and the city which scoops all the fees and taxes
I don't know the person who made $170k in 9 months is kind of a winner too.
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Apr 29, 2010
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sircheersa wrote: I don't know the person who made $170k in 9 months is kind of a winner too.
Are you forgetting land transfer, agent fees, lawyer fees, and the time/effort to buy/sell? And CRA taxes if its not primary residence.

Plus the risk he took to buy a house. What if market goes down and he sells? City and Agents still collect the fees.

The guy made less than 100k. The agents scooped.
Deal Addict
May 9, 2017
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lolbeast wrote: Are you forgetting land transfer, agent fees, lawyer fees, and the time/effort to buy/sell? And CRA taxes if its not primary residence.

Plus the risk he took to buy a house. What if market goes down and he sells? City and Agents still collect the fees.

The guy made less than 100k. The agents scooped.
Right. If you can't scoop >100k in 9 months what's the point ....
Jr. Member
Sep 21, 2018
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Redsanta wrote: Due to a “black swan”, a once in 100 years event, not normal condition.

Think long term, buy low and sell high. Not buy high.

You want to know what happen after 2017? Will you be hoping for another covid after 2020?
Actually, your advice goes directly against thinking long term, whether you realize it or not. If anything, what you are suggesting is a short-term speculative play.

Ontario house prices will be far higher in 20-30 years than they are now, so don't time the market. That's real long-term thinking.

And the best part is, I bet they will continue rising in the short term too based on the severe supply:demand imbalance in freeholds, huge money printing, and households sitting on the largest pile of cash ever. But unlike you, I can admit that I don't have a crystal ball and I'm speculating.
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sooonk wrote: Read Nassim Taleb's book if you're going to try to use the term...
If expected is not taken seriously which taken people and governments off guard, then its kinda a black swanz

By black swan’s definition, then the mbs fraud is also not a black swan because people familiar with the matter knows it (theyre the one doing the fraud!), but the general public do not.

Similar with covid, the scientific community probably know it, but the general public and the government just do not care.

Maybe I should invent a new term...
To the moon
Jr. Member
May 24, 2017
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I don’t think we are at peak 2017 pricing yet... that was a different feel.

As someone who was in the RE market to buy in both 2017 and Fall 2020 I feel I lost a few years of my life to stress.

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