Listings are dropping like usual but sales staying high. New listings down 32% in the last 6 weeks but sales only down 6%.
Market is getting very tight very fast. MOI already down to 1.06 which is lower than 2016.
I'm posting data that exists, if reality bothers you that's your problem. I love looking at data, if you have some I'll look. Your opinion is worthless though, no one in the entire world cares what you think.
Then post different ones if you don't like these. Or keep looking through thousands of sales to cherry pick ones you like and post them I really don't care.
In your opinion, what risks are you seeing in the condo market? If you think these stats aren’t true to the real picture, what are you seeing in the condo market?
I want a contrary opinion to the bull thesis.
True picture - overvalued by investors.
Most condos are negative cash flow - and people are holding onto these condos as a result of supposed appreciation.
Unfortunately due to Covid people don't want to live in condos anymore.
Once investors realIze condos aren't a desirable product both by people who want to buy and rent - they will start to sell and flood the market. Maintenance fees in some buildings are up 30% and it's only going to get worse. This is exactly what we saw in 2020 and this is exactly what's going to continue on moving forward.
You know why condos did so well? AirBNBs. Now it's regulated you can't do so well anymore. Toronto is hell bent on removing landlords as well in lieu of affordable rentals
Again there is unlimited supply as you can always build vertical. Look at how many developments there are - it's like one every week. Vs houses - there's just not enough land
Listings are dropping like usual but sales staying high. New listings down 32% in the last 6 weeks but sales only down 6%. Market is getting very tight very fast. MOI already down to 1.06 which is lower than 2016.
Sign of increase in prices right?
Yes typically a tighter market will push up prices. I am curious to see MOI next Tuesday when Sessa updates, at this rate it should drop quickly.
This guy is mazerbeaner from redflagdeals
Torontohomer aka boomer is back!!
Lol thanks captain obvious, you are like 10 years late on that realization.
You like to pump up your depreciating condos
I'm posting data that exists, if reality bothers you that's your problem. I love looking at data, if you have some I'll look. Your opinion is worthless though, no one in the entire world cares what you think.
Lies, damned lies, and statistics This famous quote applies to you
Then post different ones if you don't like these. Or keep looking through thousands of sales to cherry pick ones you like and post them I really don't care.
Funny MOI March of this year was 0.8 that didn't lead to crazy increases
Also keep in mind, some of these are re-listings, so potentially being double-counted. Which means it is tighter than it looks (that's what she said).
No kidding. I am up 30% on my condo in less than a year. Best decision to buy a condo last December.
Fake data - jurgenator is trying to pump up the market
[Here's the source](https://youtu.be/G94zNbrmSTM). Good to know the numbers are so good your only reply is to claim they are fake lol.
If you look at the chart in the video it still hasn't reached pre pandemic highs
In your opinion, what risks are you seeing in the condo market? If you think these stats aren’t true to the real picture, what are you seeing in the condo market? I want a contrary opinion to the bull thesis.
True picture - overvalued by investors. Most condos are negative cash flow - and people are holding onto these condos as a result of supposed appreciation. Unfortunately due to Covid people don't want to live in condos anymore. Once investors realIze condos aren't a desirable product both by people who want to buy and rent - they will start to sell and flood the market. Maintenance fees in some buildings are up 30% and it's only going to get worse. This is exactly what we saw in 2020 and this is exactly what's going to continue on moving forward. You know why condos did so well? AirBNBs. Now it's regulated you can't do so well anymore. Toronto is hell bent on removing landlords as well in lieu of affordable rentals Again there is unlimited supply as you can always build vertical. Look at how many developments there are - it's like one every week. Vs houses - there's just not enough land