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Toronto Is Booming!

Rickson9 said:
I agree. Minimal impact.

It's also interesting with regards to the 15% tax that corporations and foreign students are exempt. If I were a "foreign buyer" I can think of a couple ways to avoid this meaningless tax.

Toronto real estate prices will continue to climb.
Click to expand...

Will continue to climb? For how long and how much until they top out?
 
“Toronto is a very buoyant market,” Horwell said in an interview Tuesday. The condos will pay for themselves and do “very, very well.”

[Toronto] is the fourth-largest metropolitan area in North America, the second-biggest financial hub, and features burgeoning high-tech, education and health-care industries that are driving growth and job gains.

http://www.financialpost.com/m/wp/n...housing-bubble-drama-with-new-condo-project-2
 
Rickson9 said:
“Toronto is a very buoyant market,” Horwell said in an interview Tuesday. The condos will pay for themselves and do “very, very well.”

[Toronto] is the fourth-largest metropolitan area in North America, the second-biggest financial hub, and features burgeoning high-tech, education and health-care industries that are driving growth and job gains.

http://www.financialpost.com/m/wp/n...housing-bubble-drama-with-new-condo-project-2
Click to expand...

I totally agree with you on that. I personally have been to Toronto over ten times and I love it. But eventually it will follow the cycle like every other city and it did in the past. I'm not saying there's gonna be a crash but there will be a peak for sure and then it will slow down then boom again and so on.

So the question is when it will top out and how much more appreciation it will gain until then before it slows down for a while (not crash) and rebound again.
 
^ Hm should I listen to Nobuyuki Matsuhisa who does business in 18 countries across 5 continents and is building a hotel, restaurant and 700 condo units in Toronto... or a guy with a book and "used to frequent the REIN stages".

That's a tough one.
 
Rickson9 said:
^ Hm should I listen to Nobuyuki Matsuhisa who does business in 18 countries across 5 continents and is building a hotel, restaurant and 700 condo units in Toronto... or a guy with a book and "used to frequent the REIN stages".

That's a tough one.
Click to expand...
Better start buying like crazy then, as I assume you have been all this time right?
 
Rickson9 said:
^ Hm should I listen to Nobuyuki Matsuhisa who does business in 18 countries across 5 continents and is building a hotel, restaurant and 700 condo units in Toronto... or a guy with a book and "used to frequent the REIN stages".

That's a tough one.
Click to expand...
Where's your book, name, photo, website, or anything whatsoever to provide credibility. Please provide or kindly exist gracefully.
 
Rickson9 said:
Vancouver Home-Price Surge Defies Canadian Housing Jitters

“Demand has been increasing for months and supply is not keeping pace,” Jill Oudil, president of the board, said in a statement. “We’ll likely continue to see prices increase.”

https://www.bloomberg.com/news/arti...e-price-surge-defies-canadian-housing-jitters
Click to expand...

I've been hearing too many similar comments for the last few months that Vancouver absorbed the shock and is on track again for price increases!

It's funny how they don't tell the whole story and those who have vested interest keep telling the public that Vancouver is going nowhere but up!

I'm wondering why they fail to tell that:
1- The foreigner tax that was initially low compared to a depreciation in Canadian dollar of about 30% was watered down a few months after it was introduced.
2- And how new measures were introduced so new home buyers could borrow even the down payment.

These two measures almost cancelled the effects of the initially low foreigners tax and new mortgage rules and of course the price will creep up again considering also the interest rate is still very low.

Nobody get me wrong. I'm not against Vancouver or Toronto or any other city but when we discuss something we have to see the whole picture and not just the part of it that we'd like to see.
 
Average Toronto house price jumped to $921K in April despite spike in listings

The average price for all types of homes combined sat just shy of $1 million, at $920,791, last month.

That's a jump of 24.5 per cent compared to last April, and TREB predicts home prices won't decline.

Between 2008 and April 2017, foreign buyers in the GGH amounted to an average of 2.3 per cent.

http://www.cbc.ca/beta/news/canada/toronto/real-estate-toronto-treb-foreign-sales-homes-1.4096697

The foreign tax was irrelevant because Toronto doesn't have a foreign buyer problem.
 
Canada new housing prices rise on Vancouver, Toronto strength

Prices for new housing in Canada rose by 0.2 percent in March from February on gains in Toronto and Vancouver, two of the country's hottest markets in recent years, Statistics Canada data indicated on Thursday

https://m.investing.com/news/econom...home-prices-climb-0.2-percent-in-march-483061

Victoria, Toronto luxury homes among fastest-selling

Toronto's increase of 20 per cent was the largest increase in the markets studied

http://www.cbc.ca/beta/news/canada/british-columbia/toronto-victoria-luxury-homes-1.4109307
 
Good analysis of alignment or misalignment on BC in this linked article.
http://vancouversun.com/storyline/b...nt-with-the-ndp-and-liberals-on-20-hot-topics

My prediction: Christy Clark will remain Premier for 3-4 months and then in the fall will be sacrificed on the altar of global warming as NDP plus Greens amend BC Elections Act to allow for proportional representation which the Liberals bitterly oppose. Cancellation of Site C dam, oil pipelines and Massey Bridge, minimum wage of $15/h, unsustainable wage & benefit hikes for civil servants, tax hikes and more debt all likely to happen the next 2-3 years.

Continued strategy of preferring takers over makers all in the name of social justice, equality, fairness and of course, the environment. There is no price too high here to pay.

The result: rising unemployment, falling net wages, falling housing affordability, higher taxes and massive debt accumulation as shown successfully first in ON, then in AB and now in BC too !!

After ON, BC too all of a sudden has become a far more risky place to invest !
 
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
 
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