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housing bubble: Toronto Vacancy Factor is at 1% - 02/09/12 12:37 PM
With all the talk about Toronto Condo Bubbles, Housing Bubbles and all the informed conversations online about HOW the Real Estate and condo market in TO will collapse this year; I offer this simple answer.
Toronto has a vacancy factor of less than 1% Yes 1% This article from Forbes magazine posts in very graphic fashion the vacancy factors in major US cities that have exceeded 14% and actually have broken the figures down separately for homes for sale. This is further impacted by the homes repossessed under foreclosure but not yet released for sale by the bank. … (0 comments)
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housing bubble: Will Lending Restrictions Save us from Housing Bubble in Toronto? - 01/24/12 10:31 PM
New and updated Mortgage Qualification tools may have some buyers pushed out of the Toronto condo and housing market regardless of the interest rates. You could be affected if you are;
a) Self employed b) Condo Purchasers need to include 100% of Maintenence Fee. Stated-income products have become very popular during this housing boom, allowing more banks to get involved in loaning to the selfemployed.
"These are individuals that are self-employed, have great credit and won't be able to validate their ability to pay if they are not showing their income on their notice of assessment," said one … (0 comments)
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housing bubble: Create a Confidence Crisis - 12/30/10 11:17 AM
Scarey headlines topped the newspapers this year, The Montreal Gazelle adds a year end reflective; That there was never any reality for all the bubble and housing price level concerns that dominated through out the year. It lays the commentary directly attributable to one person. ..that Canada could be headed into the same kind of disastrous real-estate bubble and meltdown that we saw right across the border. And a superficial look is just what this issue got. There was never a solid basis for the scary speculation, but it just kept bubbling up. Serious Canadian media, including Toronto's Globe and Mail, … (7 comments)
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housing bubble: Lets Make that extra effort Toronto - 09/12/10 01:11 PM
Was recently engaged by someone's situation and circumstance to deal with their retirement and ultimately exit from Canada to semi retirement lifestyle in South America and Canada. Having built a life here; making many friends, establishing a network and community, this individual is still drawn to return to their roots as do many when they retire. We can all name someone who has a secondary residence or timeshare / condo back home. This client is investing their entire savings nest egg on the Garth Turner concept of the Real Estate Bubble and has liquidated their real estate entirely. The decision was … (1 comments)
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housing bubble: Housing Bubble Talk is Rampant in Toronto - 06/09/10 11:04 AM
Continuing Housing Bubble Rhetoric Toronto The Bubble Heads are determined to prove to you that thehousing marketis going to collapse. As long as you are nervous, you are listening to their rhetoric and are buying in to their the glass is half empty philosophy. Click here to enlarge the chart to the right to see how Mortgage defaults have increased in Canada. The Chart indicates that in 2005 the number of mortgage defaults in Ontario was 0.25% and this has steadily increased to 0.42% as of January 2010. This is in stark contrast to my understanding of the American Mortgage Crisis where; a) … (4 comments)
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housing bubble: Speculation on Toronto Housing Bubble Continues - 06/01/10 08:23 AM
Except this time there is a calmer voice joining in to the endless chorus The Toronto Housing Bubble will burst conversation. The CBC was following up a piece that was run May 28th 2010 by the Financial Post. The Post is quoting the DBRS (Debt Bond Rating Service) that the continued stability in Canada, our banking systems and stricter credit policies all enforce the concept that the Canadian banking system and mortgage portfolio is doing just fine.
Canada’s housing market is expected to cool off this year and next, but isn’t at risk of falling victim to a U.S.-style foreclosure crisis … (6 comments)
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housing bubble: Is the Price per Square foot Outrageous? - 12/30/09 12:10 PM
Is Toronto's skyrocketing price per square foot unsustainable? Are buyers being kept out of the market? Will an interest rate shift (or doubling) eliminate you from the market? How will others fare? Manhattan Condo Listings Snapshot Medians for listings from past 60 days from StreetEasy data. Excludes some extraordinary properties. No representation is made as to the accuracy.... How is the American market dealing with these issues? Has New York City's Value Crashed and Burned? Their Population numbers at 10.5 MM compared to Toronto at 2.5 MM plus our suburbs of Mississauga, Vaughan and Markham. URL to enlarged Image Its worth … (4 comments)
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housing bubble: Pricing Bubble in Toronto - 12/23/09 08:03 PM
[QUOTE]I think that the Canadian real estate market especially in the big cities like Toronto, Vancouver and Calgary is in a huge bubble due for severe correction anytime now.[/QUOTE] http://www.youtube.com/watch?v=Bdr37-nS5UI
A Bubble is when there is so much inventory available that No One, No Body, Any one - any longer wants to buy anything and the remaining inventory then needs to slash pricing to sell.
I am not in other cities I am in Toronto. Is a 300K unit affordable for a single person in DT Toronto? UMM Yes. yeah at $1300 pm purchase vs the rental of $1500. If there … (3 comments)
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housing bubble: Impending Condo Crisis Toronto Real Estate - 12/21/08 09:05 AM
Don't hold you breath for the Investors Condo sell-off.Buy to Rent Market is a bubble about to burst. There's no question about it - mortgage costs are rising, lenders are slashing their loan books and all those greedy landlords are about to get it in the neck.This is the typical view of many outside the property world and quite a few with a good deal of insight into bricks and mortar - but I'm not so sure.The theory is that with house price falls starting to register, Listings and Assignment of Purchase Agreements will start selling/posting up en masse, and one … (2 comments)
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David Pylyp
Toronto,
ON
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RE/MAX Realty Specialists Inc.,
Office Phone: (905) 272-3434
Cell Phone: (647) 218-2414
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