Condo George
Active Member
Back in Dec 2009, I heard it all about the 2010 market, we are going to crash George, look for a 40% percent drop George, with all those condos being built they will all be empty and landlords will be giving them away rent free George, seller will be selling and losing their shirts cause of empty units George, 18,000 new units sure to bring a big time drop George, you are a real estate agent of course you are not going to admit a big drop coming, etc etc etc
Well 9 months almost done, what has the drop been folks, I think SIM got it right when he said 5% across the board, some areas higher some areas didnt budge.
I remember back in 2006 2007 very strong pre const yrs, I was concerned that 2010 will be a challenging yr for supply, if we get through 2010 and it looks like we may for core condos anyways, we start to enter the period brought on by the global credit crisis when pre const sales came to a halt, now we all know that if not much sold in 2008 2009 that transaltes into a period I like to call a desert, latter part of 2011 and 2012 for supply hitting the market, when we have demand and no supply what happens folks, that is why I am buying again at very few selected sites, I am still very bullish on the potential and longer term market in Toronto core condos, that is my bet, again I only own one stock and its a gold play, I dont like stocks or investments that take 20 yrs to doulble your money like GICs, I think GIC s cost you, in the past and yes past is not indicative of future, investors have double some tripled their deposit money for doing nothing except sign an agreement taking a risk of course, but no potential tenant issues etc for 4 yrs and we dont fix anything because its a new product backed by warranty, who knows for sure where we are going, look around, London, Singapore, even Manhattan hearing starting to come back a bit.
Well 9 months almost done, what has the drop been folks, I think SIM got it right when he said 5% across the board, some areas higher some areas didnt budge.
I remember back in 2006 2007 very strong pre const yrs, I was concerned that 2010 will be a challenging yr for supply, if we get through 2010 and it looks like we may for core condos anyways, we start to enter the period brought on by the global credit crisis when pre const sales came to a halt, now we all know that if not much sold in 2008 2009 that transaltes into a period I like to call a desert, latter part of 2011 and 2012 for supply hitting the market, when we have demand and no supply what happens folks, that is why I am buying again at very few selected sites, I am still very bullish on the potential and longer term market in Toronto core condos, that is my bet, again I only own one stock and its a gold play, I dont like stocks or investments that take 20 yrs to doulble your money like GICs, I think GIC s cost you, in the past and yes past is not indicative of future, investors have double some tripled their deposit money for doing nothing except sign an agreement taking a risk of course, but no potential tenant issues etc for 4 yrs and we dont fix anything because its a new product backed by warranty, who knows for sure where we are going, look around, London, Singapore, even Manhattan hearing starting to come back a bit.
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