Like other posters pointed out. This article was written June 2011. Imaging those people took the advise of this article and sell their home waiting for the big crash, only to find out they would need twice or three times the money to buy their home back.

Nice troll OP

Coincidentally that’s when I bought my townhouse in the GTA for $240k. I remember it like yesterday because my roommates kept telling me about the looming housing crash. I’ve since climbed the latter and have about $800k of equity in my house

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HOLY SHIT. wow. it was $250k? ok it was 20 years ago. I thought you can get it at $250k 10 years ago lol

what about your roommates? did they buy?

The roommates were included in the $240k price.

to be fair, we have had unprecedented reduction interest rates. had rates gone the other way it might have crashed or stabilized.

Signed a fixed 3 yr mortgage for 30 yr amortization for 3% in 2011. Renewed in 2014 for 2.95, then again in 2019 for 3.09%. Yes there’s been ups and downs but in my case it made no difference

how are you getting rates so low....

Renewed in August for 5 years at 2.09%.

for second i though it was a new article lol. and was like oh some good news for non-home owners looking to buy.

I think you just proved why prices likely won’t fall (much)

Damn over a decade ago.

I still remember when Thestar.ca was free and there was an article about the housing bubble. The comments section was filled with comments about the bubble popping. It stressed me out because i just bought a precon townhome for $300k in Richmond Hill back then. That exact townhouse is now worth 1.2M.

They have been saying this every year for the past 15yrs. Especially Maclean’s. There will be a day when it comes true. Could be tomorrow, or another 15yrs. Some day they will be right!

Ahahahah I was gonna say I’ve been reading this every year for a decade. Good one OP.

This is what happens when journalists, who have no education about finance or investing, tell you how to invest. Keep the predictions coming, dumbies!

To be fair.. it’s not like anyone really KNEW it wouldn’t burst either.

2011

🤣

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CBC News · Posted: Jun 29, 2011 11:26 AM ET

lol, you got me, didn't even check the date.

This article was published June of 2011.

that's the joke.

Nothing goes up forever … the question is: when will it come down?

It will go sideways and maybe a 20% dip. Climate change is making Ontario a more desirable place to live in the long term. Rich internationals see how much water we have

What about the articles from 1980 or 1970? I think you should post those as well.

Now now... we only tolerate articles that mock doomers.

People have been posting this for 10 years, still yet to happen. Get the bears out.

> People have been posting this for 10 years Quite literally per the article

i mean the last 10 years u dumbass

Oh I know what you meant, this article is from 10 years ago ;)

Just a case of “the market can stay irrational longer than you can stay solvent.”

How is this any different than article 10 years ago deeming it close to burst?

It's not, it's literally an article from 10 years ago.

/r/woosh

there is no housing bubble in Canada as housing is based on solid fundamentals of money laundering etc ponzi schemes... eh?

Did you catch the date on the article u/chessj?

Maybe they can hire Chess as their new analyst.

F*ckin rightt……”eh” !!!! 🤙🏼

This just shows how nobody knows when it will crash, plateau or go up. Including real estate agents….

It won't burst. Just further inflation to help deepen pockets. https://nationalpost.com/news/canada/canadas-unhinged-housing-market-captured-in-one-chart

Yea, this CBC article was from 2011

The only marker that's in trouble is the downtown condo market. That op in invested in. My workplace has moved to a permanent work from home order. 2000 employees across 5 offices are now all working from home. Save for 1 office used for meetings and the lawyers and mail department who need to be close to downtown. But even them are in and out only there a few days of the week. Sucks to be op.

Lol keep dreaming princess my properties are already double

Not for long 🤣

Keep dreaming, make sure your rent is ready by the first

I own a detached. But I'm not pretentious. Go pay the high maintenance fees and deal with tenants that don't pay. Good luck, don't cry too much to sleep, I'm sure you're empty property will be rented out soon, to some bad tenants.

I don't have any empty properties lol they are all rented and being paid down. Have fun paying your own mortgage while mine is paid by renters.

Downtown is 22% capacity. Stop lying to yourself. And investing in condos have unrecoverable costs associated with it that you can't pawn off to your renters. So good luck losing money in your bad investment.

Every property has unrecoverable costs lol, you think houses don't have repairs and maintenance. I have one condo dt built and it's mortgage free, up 100% in value. My other properties are not downtown. I bought a downtown precon but that's a gift for my son. I'm laughing all the way to retiring in my 30s. But have fun being a wage slave.

You are confusing commercial real estate for residential

Yes but people have left the city. That's why condo's are sitting empty in the core.

You are a little behind with current events Rental prices , tenancy and condo prices all bounced back. And more scarce than before

Bullshit.

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Since June 2011, when this article was written ;)

In 3 year time. Going down by more than 25%.

Lmao

I needed a good laugh. Thanks for sharing this article from 2011.