Scary numbers again ..... http://www.torontorealestateboard.com/consumer_info/market_news/news2008/nr1101908.htm 44% decline in sales compared to last November 36% increase in number of new listings compared to last November.

my bigger concern is the number of people waiting until Spring to unload their properties. 1) Many have pulled their properties off the market since Sept and are waiting for spring 2009 to re-list again. Personally, i know 4-5 who are waiting until spring to list since they have moved or...

Sellers are starting to have a tough time selling their homes in Toronto .... free car with this house but still no buyers. Realtor believes market value is $379,000 for this one when it should really be around $325,000 tops...

i definitely notice some of the houses with significantly lower listed prices in the yonge/lawrence upto yonge/sheppard areas compared to a few months ago. However, due to the sudden changes in the market, you still have a glut of unsold houses from months before that are still listed at 2007...

yep, working in underwriting for the past 2 years, Gei would not be a normal 40 year AM mortagagor. I've rejected many applications that didn't fall in line with the ratios to having to approve them once they change it to 40 year amortizations. i would say at least 90% of these 40 year AM...

You won't get too many incentives, they'll play the delaying game and keep delaying it until the market improves in 2010-11.... heck they don't even have to break ground until years later if they want. The consumer protection is one big joke.

Very interesting numbers indeed. Also keep in mind that in the beginning of a downturn it has been well documented that the luxury homes are the first to crash before the more affordable homes as well. Having said that, stats by TREB means nothing!. Talk to a real industry analyst that you...

While i agree that some of these guys are renters who's seeking a crash, i am not one of them. I actually work for one of the downtown financial companies that deals in this industry. Trust me, the numbers do not look good going into 2009 as we can easily forecast 3 months in advance and those...

you don't know what you don't know ...... wait until you see the sales stats for October/November. Lender pipeline volume has dwindled down to almost 4/10ths of last years apps in the past month. I've had RE agents putting a positive spin on how strong sales are, yet i have trustworthy brokers...

Guys, from the front lines. Our lender has just projected a 50% decrease in mortgage volume year or year with the elimination of the 0down/40am mtgs combined with the recent economic downturn. With falling demand in every possible sector, people are expected to be let go left and right within...

i cringe when i hear the realtors/spinmasters explain that sales are off due to the record-breaking year of 2007. The supply level right now is more than what we had in 2007!!!!!, combine that with 40% lowered demand is a recipe for a disaster in the making. The ideal graph should show a...

from the front lines,i can definitely tell you that the market is drying up quick in the GTA. It's not looking too pretty in the past 2 months and significant declines should be expected in the next year or so. I work in the lending side and we see the pipeline of closings everyday. The...

what's the % sold figures so far???. i'm wondering if they will be breaking ground soon.

garth turner who is in the know has also stated that a mid-town condo is pulled. No word on which one it is but all signs point towards this one. I think construction can still proceed if they are actively working on getting alternative financing options .... maybe from a kazhak bank.

you might be living under a rock the last few months but the number of condo listings are through the roof in supposedly the slower part of the season. Prices have peaked and you would be buying at a loss at this point, the inventory is selling at a crawl in the past few months in the GTA and a...

i'm guessing house maintenance is cheaper than condos, assuming you have the competence to do the things yourself. Mowing the lawn, shoveling snow, painting every few years etc. doesn't cost much ..... but then again you have to change windows, roofing, repave driveway every 10-20 years. If...

they should use the song Electric Avenue as the theme music on the website and grand opening.

Your're absolutely right ...... The other thing i wanted to talk about was the price increase year over year of 3-4%, but that doesn't really tell us anything about the market if there are more million dollar homes being sold than last year. Prices MAY have actually decreased slightly and we'll...

Owens Illinois (Toronto glass maker) also cut 450 of it's work force today. I know Canac eliminated 1,200 of it's people in Toronto a month ago as well and moved it back to the US. There's a number of other manufacturers that are on the verge of shutting down operations in Canada within the...