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Toronto Is Booming!

BREAKRZ

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Nov 1, 2016
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Actor Robert De Niro, celebrity chef Nobu Matsuhisa and a cavalcade of development executives are betting huge on Toronto despite outside concerns about a real estate bubble in the city.

The "Taxi Driver" star said he's getting a free unit in the development, which could mean the New Yorker will swing by the city more frequently.
"Toronto's a great city. It's got a great film festival," he said.
"It's a great city and an important city."

http://www.bnn.ca/nobu-toronto-execs-say-they-re-not-concerned-about-real-estate-bubble-1.765430


How's the market in Toronto doing? Still full speed ahead unstoppable?
 

Sadia.Anwar

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Tornoto is a beautiful place to live in ... I really liked all the infrastructure and development work being depicted there.
 

Rickson9

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Government intervention had virtually no impact on Vancouver real estate prices and it won't be any different in Toronto.

“Greater Toronto home prices jumped in September as buyers appeared to put an end to a slump that began in the spring with government measures to cool a scorching real-estate market.”

https://beta.theglobeandmail.com/re...ttps://www.theglobeandmail.com&service=mobile

"Tentatively, it looks like the worst is over for the Toronto housing correction," Bank of Montreal economist Sal Guatieri said. "It's a fairly minor correction to begin with – on a year-over-year basis, prices are still up from a year ago."

Not surprising. And as I predicted.
 

Willyboy

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“Greater Toronto home prices jumped in September as buyers appeared to put an end to a slump that began in the spring with government measures to cool a scorching real-estate market.”

https://beta.theglobeandmail.com/re...ttps://www.theglobeandmail.com&service=mobile

"Tentatively, it looks like the worst is over for the Toronto housing correction," Bank of Montreal economist Sal Guatieri said. "It's a fairly minor correction to begin with – on a year-over-year basis, prices are still up from a year ago."

Not surprising. And as I predicted.

The real correction is coming next year. See you in 2018 with way lower prices. 2018 will be a year many many people will remember in history.
 

Thomas Beyer

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The real correction is coming next year. See you in 2018 with way lower prices. 2018 will be a year many many people will remember in history.

And why would that be? No more immigrants? Massive oversupply? Interest rates 0.25% higher? Everyone leaves GTA?
 

Willyboy

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And why would that be? No more immigrants? Massive oversupply? Interest rates 0.25% higher? Everyone leaves GTA?

The interest rate will go up more than 0.25. Oil price is going up and then the CAD dollar will go up as well making foreign investment less attractive. Normal immigrants don't put much upward pressure on prices. FOMO will almost disappear. supply will go up. Prices have been going up for 20 years non stop and are due for a correction. There is a real estate cycle and if you look back at history there was a correction that started in 1989 and lasted for 6 to 7 years. The correction has started already in May of this year.
 

Rickson9

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Toronto, Vancouver housing to become less affordable ‘when the fog clears’: CIBC

http://www.bnn.ca/toronto-vancouver...-affordable-when-the-fog-clears-cibc-1.915173

Tal says while the psychological effects of B.C.’s 15 per cent tax on foreign buyers and Ontario’s Fair Housing Plan have helped cool markets in the short term, supply issues facing Toronto and Vancouver will likely worsen, noting “demand is routinely understated.”
 

Thomas Beyer

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Government lending crackdowns can't stop Toronto housing market as Calgary, Vancouver slow

http://business.financialpost.com/p...onto-housing-market-as-calgary-vancouver-slow

This article is very misleading.

Toronto’s prices have fallen hard from its peak, but both GTA and MetroVan average prices are UP substantially from a year ago. Only in some foreign dominated sub markets in Richmond or V-West did prices drop a hair on the high end ... many condos are UP well over 20% actually.

The new mortgage rules haven’t kicked in yet, so it is hard to show impact yet. It will pull average down as more smaller units will be sold.

MetroVancouver’s prices, on average, have increased over 18% since a year ago http://www.crea.ca/housing-market-stats/

Calgary is about flat. Around 499 for the benchmark price http://www.creb.com/-/media/Public/CREBcom/Housing_Statistics/Calgary_Monthly_Stats.pdf?la=en
 

Colin Forrest

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I'd say Wilboy was spot on, except for the part about the C$.


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