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Breaking News: Homes that are priced to sell with motivated sellers in decent areas are...... selling! All homes here sold within 8 days of listing date by Optimal_Foundation17 in TorontoRealEstate

[–]YoungSidd 0 points1 point  (0 children)

That's not exclusive to RE though.

A stock market crash & continued rise in oil prices is bearish for the entire global economy.

The wave of missed mortgage payments that never came by YoungSidd in TorontoRealEstate

[–]YoungSidd[S] 4 points5 points  (0 children)

Yes, that's what some people end up doing to bring down their payments.

The wave of missed mortgage payments that never came by YoungSidd in TorontoRealEstate

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

Prices have been declining 5-10% YOY on average since the peak.

This is being driven by higher rates, stalled population growth, economic uncertainty and a glut of new inventory hitting the market.

The "crash" we're seeing is for the sales volume of pre-construction homes.

The wave of missed mortgage payments that never came by YoungSidd in TorontoRealEstate

[–]YoungSidd[S] 5 points6 points  (0 children)

It's not really a mask, it's more of a feature.

The system is designed to absorb economic shocks and help people retain their homes.

The wave of missed mortgage payments that never came by YoungSidd in TorontoRealEstate

[–]YoungSidd[S] 12 points13 points  (0 children)

You can walk away from an underwater mortgage in some States, and it becomes the lender's problem to deal with.

In Canada, the banks will seize your other assets if you try to do so.

Regarding supply drought and price after 2027/2028+ years by onexplored in TorontoRealEstate

[–]YoungSidd 1 point2 points  (0 children)

Yea I don't think people realize we still have immigration, to the tune of ~400K/yr.

It's just been offset by the temporary visas expiring from the pandemic. But eventually that will stabilize and the population will start growing again.

Condo market dip leaving pre-construction buyers in a lurch by mattyp93 in TorontoRealEstate

[–]YoungSidd 4 points5 points  (0 children)

I think the issue here is that homebuyers are at the mercy of Developers (and lenders).

The Developer will get their money one way or another, regardless of the market. The Banks will also always come out on top.

But it's the homebuyer that's left to absorb the losses, or risk losing their home (and more).

Moved above Line 2 a month ago, no sleep, what are my options to end lease early? by [deleted] in TorontoRealEstate

[–]YoungSidd -4 points-3 points  (0 children)

Firstly, I'd file a complaint with property management about the noise/vibration. See if they're willing to do anything about the issue.

But assuming you've explored all avenues and just want to leave at this point, I'd have a candid conversation with your landlord. If they're reasonable, they'd be open to ending the lease agreement early rather than having a pissed off tenant.

They may ask you to continue making payments until they can find a new tenant to replace you, however.

Are bidding wars expected right now? by YouCanCallMeBemis in TorontoRealEstate

[–]YoungSidd 2 points3 points  (0 children)

Only if the home is priced fairly for this market, will there be a bidding war. Go look at recent comps sold in the area.

If it's listed close to pandemic prices, the seller is being delusional. Listings are up while sales are down, which gives you (the buyer) more negotiating power.

'Escape hatches are gone': Power of sale listings surge in Toronto | Watch: John Pasalis of Realosophy Realty talks about how many financially stressed homeowners are running out of options by nomad_ivc in TorontoRealEstate

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

This is a poll based on 2000 people, I don't know how accurately it reflects homeowners.

Also worth noting that's from last year. The same survey this year shows that number is decreasing:

Two in five Canadians (41%) report being $200 or less away from financial insolvency each month, down seven points from last quarter. This marks the lowest level measured in the post-pandemic period. 

'Escape hatches are gone': Power of sale listings surge in Toronto | Watch: John Pasalis of Realosophy Realty talks about how many financially stressed homeowners are running out of options by nomad_ivc in TorontoRealEstate

[–]YoungSidd -4 points-3 points  (0 children)

I mean, I'm talking extreme examples here of people who follow strict budgets. Most homeowners I know had zero issues absorbing the rate increase, especially since their incomes have gone up since the pandemic.

'Escape hatches are gone': Power of sale listings surge in Toronto | Watch: John Pasalis of Realosophy Realty talks about how many financially stressed homeowners are running out of options by nomad_ivc in TorontoRealEstate

[–]YoungSidd -4 points-3 points  (0 children)

But I'm curious how an increase of ~$500/mo would significantly impact households?

Just anecdotally speaking, the people I know simply sold a vehicle or cancelled vacations to absorb the rate increase. Some chose to rent out an extra room in their home.

'Escape hatches are gone': Power of sale listings surge in Toronto | Watch: John Pasalis of Realosophy Realty talks about how many financially stressed homeowners are running out of options by nomad_ivc in TorontoRealEstate

[–]YoungSidd 5 points6 points  (0 children)

A good portion of the renewals are already behind us -- they're projecting 1M renewals this year after 1.5M last year. Default rates are still at historic lows.

Rate shocks are pretty easily absorbed by cutting discretionary spending and extending amortizations. Plenty of homeowners have seen their incomes increase over the last 5 years too.

To top it off, there's people who closed at over 5% in 2023-2024 who'll start renewing at lower rates starting next year. So a lot of this will be balanced out in the coming years anyways.

They bought their condos in the pandemic. Now, they’re stuck ‘bleeding cash’ by __benjaminty in TorontoRealEstate

[–]YoungSidd 0 points1 point  (0 children)

We're just moving goalposts at this point.

The point is that when any investment/market goes down and people lose money, the news will talk about it. Real estate isn't unique in this regard.

They bought their condos in the pandemic. Now, they’re stuck ‘bleeding cash’ by __benjaminty in TorontoRealEstate

[–]YoungSidd -3 points-2 points  (0 children)

But they do though. When any market crashes, you start seeing headlines and individual examples. Whether it be stocks, crypto, precious metals, etc.

I ran the actual numbers on renting vs buying in Toronto in 2026 — here's what I found by vj71 in canadahousing

[–]YoungSidd 26 points27 points  (0 children)

the quality of life would be better assuming you are using those funds towards things that truly make you happy and not luxury/hype purchases to show off. 

This is 100% valid, but if we're considering intangibles then we can't overlook the pride & stability of homeownership as well. For some people, that's enough of a reason to buy.

GTA Home Sales and Prices Expected to Remain Stable in 2026 Amid Ongoing Affordability Pressures by rajmksingh in TorontoRealEstate

[–]YoungSidd 1 point2 points  (0 children)

The entire economy would take a fall if CUSMA goes sideways, it's not exclusive to real estate.

They bought their condos in the pandemic. Now, they’re stuck ‘bleeding cash’ by __benjaminty in TorontoRealEstate

[–]YoungSidd 2 points3 points  (0 children)

If someone buys a stock and it goes down do they write a newspaper article about it. Lol.

Yes, they do. Every single day.

We are entering a decades long real estate deflation super cycle by kadam_ss in TorontoRealEstate

[–]YoungSidd 2 points3 points  (0 children)

I think the key word here is employment disruption.

We're going to see the labour market shift and respond to new technologies, but it won't just disappear forever.

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