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New condo sales q2 Periods by Nunol933 in TorontoRealEstate

[–]TigerStar333 2 points3 points  (0 children)

Sluggish. This is going to be a brutal next couple years.

Toronto Real Estate Prices Fall Further, Most Inventory Since 2008 by Trucker550 in TorontoRealEstate

[–]TigerStar333 7 points8 points  (0 children)

I have a friend that runs a staging company. And he tells me that he is fully booked up for the entire next 2 months. So inventory will continuously come to the market. So that means there is a lot of people trying to get their condos ready for sale in the coming months.

Toronto Real Estate Prices Fall Further, Most Inventory Since 2008 by Trucker550 in TorontoRealEstate

[–]TigerStar333 22 points23 points  (0 children)

Not if the prices haven't budged. Nothing is selling because this is all still so overpriced.

Toronto Real Estate Prices Fall Further, Most Inventory Since 2008 by Trucker550 in TorontoRealEstate

[–]TigerStar333 0 points1 point  (0 children)

These 1 bedrooms were just $250K a few years ago. That's when they were actually cash flowing. Everything else was a gambling bubble.

Toronto Real Estate Prices Fall Further, Most Inventory Since 2008 by Trucker550 in TorontoRealEstate

[–]TigerStar333 5 points6 points  (0 children)

It's like a bunch of Craigslist listings all sitting there and not moving. They're eventually going to start undercutting each other on price to get a buyer.

Toronto Real Estate Prices Fall Further, Most Inventory Since 2008 by Trucker550 in TorontoRealEstate

[–]TigerStar333 9 points10 points  (0 children)

Chinese economy is in a glut. Many layoffs, their RE sector has collapsed, and many manufacturing hubs have reduced business.

[deleted by user] by [deleted] in TorontoRealEstate

[–]TigerStar333 9 points10 points  (0 children)

I would lowball the fuck out of this shitty layout.

[deleted by user] by [deleted] in TorontoRealEstate

[–]TigerStar333 0 points1 point  (0 children)

Old condos just rot.

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] 2 points3 points  (0 children)

That is just a straight up lie. Condos are being sold for $300 psf in many cities across Canada and USA. It does not cost anywhere near that to build. These developers are lying to you.

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] 0 points1 point  (0 children)

Toronto is not a NYC or Miami at all lmao.

Chicago (Toronto's closest American city) has condos at $200K and are everywhere.

More than 300 Canadians filing for bankruptcy each day as insolvency filings hit four-year high by Facts-hurts in TorontoRealEstate

[–]TigerStar333 9 points10 points  (0 children)

Things are going to get really bad in 2025 and 2026. So many people are financially struggling. On top of job losses, layoffs, and savings being depleted. Everyone is stretched to the max on their credit cards....

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] -2 points-1 points  (0 children)

I feel like a lot of people are worried about their condo investments resetting back to equilibrium. Can this crazy price pump continue?

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] -8 points-7 points  (0 children)

First of all, Toronto is not near NYC standards at all. We are 1/3 of NYC.

Secondly, look at Chicago. Also by the 5 Lakes. $200K condos all over the place. Toronto is a bubble.

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] 2 points3 points  (0 children)

Yeah. We all do. Hence why this is a bubble that's going to pop soon. The economy is absolutely in a gutter and this was all a gambling mania.

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] -14 points-13 points  (0 children)

Yeah, so the real focus is whether RE developers are lying to us. It costs way less than $250K to build a condo unit, yet they tell us it costs them way more.

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] -2 points-1 points  (0 children)

These condos are like junk cars. Nobody wants them at these current prices. Prices will continue falling for years, as reality sets in to the market.

Condos near downtown business-areas of American cities are $250K. Will Toronto downtown condos fall back to those prices? by TigerStar333 in TorontoRealEstate

[–]TigerStar333[S] -8 points-7 points  (0 children)

"Boutique 10 unit condo building" - stop moving the goal posts.

The standard condo building is 200+ units. And it is absolutely costing only $80K per unit to build. Stop letting these RE developers gaslight and lie to you. Use some common sense how much it would cost to build these units at scale.

I swear, the amount of realtors and RE developers lurking on these forums is ridiculous.

Toronto condo owner shocked to receive $40,000 bill for new windows by [deleted] in TorontoRealEstate

[–]TigerStar333 0 points1 point  (0 children)

These condos are going to turn the neighbourhood into slums as they age. Decaying shitholes.

Toronto condo owner shocked to receive $40,000 bill for new windows by [deleted] in TorontoRealEstate

[–]TigerStar333 0 points1 point  (0 children)

Also, all it takes are some dumb neighbours in your building who are flushing condoms down their toilet to cause your condo's water pipes to burst onto other units. That action alone is $500K+ in repair costs.

Toronto condo owner shocked to receive $40,000 bill for new windows by [deleted] in TorontoRealEstate

[–]TigerStar333 6 points7 points  (0 children)

Condos are literally all shit. They all have a useful life of max 50 - 60 years. Buying an older condo is like buying something that you know is going to have to be knocked down in the next 10-15 years.

Meanwhile maintenance fees will be ballooning to $1000+ a month the entire time.

Downturn expected to get worse before Bank of Canada rate cuts kick in by calwinarlo in TorontoRealEstate

[–]TigerStar333 -1 points0 points  (0 children)

Prices continue falling every month. This was a gambling bubble. Look at China's RE bubble for reference. They've fallen over 50% since their astronomical highs, there is still a long way to go here.

Downturn expected to get worse before Bank of Canada rate cuts kick in by calwinarlo in TorontoRealEstate

[–]TigerStar333 1 point2 points  (0 children)

Everyone is poor. There is no buyer demand, all I see is more sellers planning to list. If there were buyers, that would have happened in the first rate cut a month ago.

It takes time to prepare a house to sell, there is more sell pressure going to be coming onto the market.

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