655 sq ft condo in Toronto ain't sellin'. Even with the price cut no one wants it for $659K.
If you want a 25 year mortgage, you have to put 20% down. Which is $131K.
The rental market in Toronto is blown so no one's gonna rent a shoebox for 4000 bucks a month. And nobody wants to live in 655 sq ft for 30 years.
People aren't even going to believe that the housing market is crashing until long after it's already done crashing.
Should have been self-evident to anyone with half a brain that you can't have prices like that forever because nobody actually has that kind of money... I mean there might be a few thousand people on the planet Earth with enough money to buy a million dollar condo in toronto, but if you have that kind of money why are you buying a million dollar condo in Toronto? For that matter, a two million dollar condo in Vancouver!
Should have been self-evident to anyone with half a brain that you can't have prices like that forever because nobody actually has that kind of money... I mean there might be a few thousand people on the planet Earth with enough money to buy a million dollar condo in toronto, but if you have that kind of money why are you buying a million dollar condo in Toronto? For that matter, a two million dollar condo in Vancouver!
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I live in a town with a real estate market that defies gravity because the public school is excellent and it draws a lot of international money, and even here, properties are starting to stay vacant for 30+ days
maybe so! lots of jews here but even more in surrounding towns where it’s a little more affordable.
On one hand, sure, regular fuckin' people trying to carve out a retirement. On the other, you're swimming with legit sharks in an ocean that does what it wants.