You're a sycophant Walt. Sharpen your mind a little. This project is poison for Toronto. They will leave us with either a parking lot or a giant hole like in Calgary. I think that project was 100% 'PRE-SOLD' if I'm not mistaken.

Tell that to the couple with $65,000 in income that gets laid off next month and has a $250,000 mortgage to pay!

Have to disagree strongly with you there boy. The cost of home ownership is probably anywhere from 20%-30% higher than the cost of renting comparable accommodations. Period. The industry (the big, strong, powerful, rich, manipulative industry) loves to advertise how a mortgage can 'carry' for...

Not after this month is through I'm sure :)

Hey YY- my karma ate your dogma pal! Open up that rigid brain a yers man! I know centimillionaire renters (in new york) and insolvent owners of multi-million dollars homes (los angeles). I got plenty of experience. And I don't mind paying my landlord a fair price for the accommodation he's...

A. I don't believe Urbanation- they work for the developers B. Diversified portfolio? Huh? Tell me how owning something that you have to feed every month in the hopes that you can sell it at some point in the future for a profit is a good and safe place to put your savings? That stupidity...

Who cares what CMHC tell you? Are you not a grown up? Make decisions yourself! CMHC wants people to own homes. It's their business. Sorry, but if I made $4000 after tax, on a 2 income family yet, I wouldn't want to have fixed housing costs of $2000-$2200 when I could rent a larger apartment...

I noticed your name is Condoboy and not Condoman. Regular people will be fine. They budgeted properly, live in their homes, and typically were more conservative when they decided to buy a home in the first place. Flippers, of which you are obviously one, are infectious market destroyers...

TREB shouldn't even be issuing these stupid reports. Let all the data be compiled and reported by a 3rd party. CMHC can probably handle it, as inept as they are. TREB should focus on one thing- selling houses. Most of the time it's monkey work anyway.

This is as close to new affordable housing as we're gonna get people. I like it. On the new subway, intensification of existing sites, close to DVP. Hope it really does sell and the flippers don't get a hold of it!

Welcome to Planet Denial Eat this Derek: "In the City of Toronto the current average price $375,804, a 15 per cent decrease from the $441,878 average recorded at mid-October 2007."

You're nuts! That's like $2500 per month in housing expenses for a couple netting $4000 per month in income after tax! Two people! For something that rents for $1,800 per month? That's affordable? This stupidity is what got the world in so much trouble! A couple that only makes $65,000...

Nope. Tax deduction. Might as well take it now because ain't nothing going there for a long time! Do your homework Observer Walt.

Nope. It crashed because there was a massive housing bubble and then the economy tanked and burst it. Interest rates were already high. The property bubble killed even the biggest fish- Campeau, Reichmann, etc. Same concept now, slightly less flippin', though not much!

Nonsense. Face it. It's over. All we have to compare are these normally self-serving TREB stats and on their stats its a veritable blood bath. Read: Halloween Mascare 2008. Toronto housing market CRASH!:eek: (I don't care I'm a happy renter :) ) We're now down 16% from the peak peak in...

Check the message board at the Starbucks on the corner. I think I saw one the other day. Good luck!

I don't mind it myself but it's sad that but for the greed of the developer and the army of rabid flippers it would have gotten built before the crash. It's truly emblematic of the disease that's infected the planet. Anybody else remember when people bought apartments to live in? What's wrong...

So are condos pal. That's why we're in a whole whack of trouble! With average condos costing $400 x 750 square feet or $300,000 how is an average salaried worker able to afford one anymore? Not talking about your personal experience, I'm talking about the whole market. My pals at the other...

Florida v. Toronto Lots of flippers in both markets. Way more supply in Toronto, but cheaper prices at the peak so we'll only fall 20%-30% vs. 50%-60% in Florida. As it should be- our weather stinks, we're not a vacation spot, and we're not on the ocean.

RBC is somewhere around the 10th largest bank on the planet. They in very good shape relatively speaking. But Toronto is not about to challenge NY or London for banking supremacy. Hate to break it to you. The entire financial sector is going to shrink- everywhere. The world is de-leveraging...