Toronto Housing Update: Is It Real This Time?

Long winded: Relevant we need to BE super conservative for the current markets as realtors and buyers/sellers

Is this not exactly what we needed to figure out why home price sored, on top of external factors of pandemic panic and when your dollar value and amount is high(pre-early pandemic) due to the CERB and other loans.... imagine starting another wave of this even though it would be rough it does not mean its not possible from large investors or large corporations wo have the capital to push the bidding and this is why we needed high taxes on these corporations because they can push these prices higher and the values of these homes doe go up but remember the person who is saving for a home has just lost there way in and in our current situation would push the mortgage rates up even further... anyone argue for this tactic in the current state of the economy is a BLIND the economic stress this stuff actually causes in there community around them, if your community's no longer stable with house hold with stable jobs who takes these house the bank... this tells me realtors are literally help the big banks and the corporations and large investors.

it will only get worse the more money that is not put back into the average Canadians hands in form of there paycheck and when the value of the goods they are buying do not push them to tipping point, which is sad...

If big corporations on want to see the profit margin go up the rational is less likely to want to build homes on there own expense, now there have been a few to come forward and actually take the land but remember that could also be used potential for some tax breaks too because the market needs it and that would be a massive tax saving based on current home prices. but who would buy these homes if the people are have hard times now with the current mortgage refinanced rates... i think you should be able to see who would buy it again... not to mention the system is broke if the price for condo monthly mortgages outpaces the amount professionals couples monthly income or even a investor trying to rent said property because it hard t get people who meet that bar.

The bank makes money offering you it's clients service by storing your money there or getting loans there as well as other features, if the bank is locked in at a certain FED Rate which now the bank has to check there balance sheets which is your monthly income or lets go weekly they can predict roughly the amount that fluctuates in if they raise the rates on the mortgages that much what do you think happened.... there leveraging a assets and people locked into a assets with there banks to increase revenue, because it falling in other area's. if money at a certain valuation is not flowing in the avg consumers hand this is what happens.

Our communities are breaking apart in certain area's and jobs are being hard to come by which means there is less people to one take taxes from two mean the taxes have to go up to compensate for the loses, and three it means people who have this data and have the pollical powers are failing to understand this at a basic business level something is wrong and we need to fix it...

They will supercharge GDP growth in the coming years by printing money through household appreciation, people will pull cash out of their homes and feed the economy buying junk. This is how canada has survived for over two decades, at least.

# of offers don't mean anything. List a $1M home for $500k and you will get 100s of offers. Result is still the same of $1M if the market is flat.

It shows demand is still sky high.

:)) starting to heat up, just look on house sigma at sales below average. Brokers really are the scurge of humanity.

I am buyer and confident that this will ease back in a month or so.

It’s unbelievable how 85 offers didn’t make this house to sell for more, the sold price seems fair for the area. I guess most of the offers were close to the asking price and someone did the homework and made an offer based on the other recently sold houses

The question is... how many of those 85 were placed by friends and family of the listing realtor?

I think a key point is that only 25% of homes are selling in a given month with 4 months of inventory, meaning 75% aren’t selling. The cream puff listings that are priced well are selling quickly, sometimes with multiple offers, and the other listings are taking longer to sell. It’s like there’s two markets: saleable inventory and “other”, and the saleable inventory is always going to sell rather quickly. This probably more a factor in a buyers or balanced market than in a sellers market.

Weren't the 85 offers because someone lister their property WAY under it's value?

Can you do a video discussing the current state of Toronto’s rental market?

We all know listing realtor of that house played a classic game of listing the property way below its value so they can start the bidding game. One property with 85 offers does not mean market is warming up. Many other factors to count in though. Buy when you're ready and the house should be a blessing.