[urbandreamer]

My point?

Priced competitively with attractive architecture, condos will still sell. Presale construction must move closer to the norm--ie, cheaper to buy presale than resale. If that happens--I think it will because what developer wants employees sitting on their asses unemployed?--of course resale will get cheaper as well.

$400/ft or less in the boondocks; $500-550 downtown; $450/ft at Edge Lofts is too much....

Where is really smart money buying condos today?

Hamilton. That tells you something, eh?

 

[CN Tower]

Or maybe UD's average of 7 posts daily for the past three years demonstrates that most of what he writes is just babble.

I <3 UD's posts but mentally ingest them with a healthy dose of sulfur.

 

[cat]

Simuls, sent you a PM

 

[cdr108]

Edge condos on Queen West is selling at $450/ft and I've been getting a lot of email lately from developers with incentives. I try to keep all my original price sheets, so I'll see if I can't post something on the differences.

igot the same email and for the life of me, originally could not think what/where this project was so i did a search.
from the search, i also found out that original VIP pricing was $500 PSF ..... $199K for 396 SF studio

 

[Coltaine79]

Where is really smart money buying condos today?

Hamilton. That tells you something, eh?

It tells me they're really not that smart.

 

[urbandreamer]

Average new Hamilton condo--$250-$325PSF.

10 years from now if Hamilton is at $425PSF, that's a pretty good investment. I could see it happening.

 

[cdr108]

Average new Hamilton condo--$250-$325PSF.

10 years from now if Hamilton is at $425PSF, that's a pretty good investment. I could see it happening.

wouldnt a hamilton single family home be a better choice than a condo

 

[PinkLucy]

Not if they're both in Hamilton

 

[TrickyRicky]

I wish anyone investing in Hamilton good luck. This would not be my choice but to the risk goes the reward. I think the smart money at the moment isn't investing in condos period anywhere in the western world.

 

[interested]

I wish anyone investing in Hamilton good luck. This would not be my choice but to the risk goes the reward. I think the smart money at the moment isn't investing in condos period anywhere in the western world.

I concur. There may be pockets but with all the uncertainty, rather hold onto capital, make a slightly lower return but have the ability to move forward when things on the economy front and real estate in particular are clearer. Right now, it is a pretty big gamble with alot of downside risk which I feel outweighs upside potential.

 

[Jonny5]

Does anyone know a source of published statistics for foreign ownership of Toronto properties?
I would like to do some basic research on scenarios where the Canadian Dollar continues it's decline in value against world (ex-US) currencies.

 

[lafard]

Average new Hamilton condo--$250-$325PSF.

Are these poured concrete or timber frame lowrises?

This is useful because it allows us to establish a "baseline" price, for what Toronto condos would realistically be priced at in a truly balanced market. Are the land premiums really $300psf? I calculated it to be somewhat more than half that for 1 bloor, where land costs would obviously be quite high.

450psf at Queen West is clearly still profitable, else it wouldn't proceed, so it does indicate the "base" price of a new Toronto condo is quite a bit lower than that.

If it's still profitable to build at 450 psf then the supply glut won't abate until demand price falls below that number, which is obviously quite a bit down from today. Of course older condos will decline in lockstep - why buy an old unit with high fees for 425psf when you can get a new one for 450?

 

[Condo George]

Still waiting for the sky to fall in 2nd half of 2010 ? Spring 2011 buy with the herd !!!!

http://www.680news.com/business/art...signals-coming-from-the-canadian-condo-market

 

[KA1]

Still waiting for the sky to fall in 2nd half of 2010 ? Spring 2011 buy with the herd !!!!

http://www.680news.com/business/art...signals-coming-from-the-canadian-condo-market

Bless you, condo George for coming back, as usual, with spiritually uplifting news. I have pasted below a related article from Vancouver Sun.

http://www.vancouversun.com/business/Condominium+market+Canada+heating/3757559/story.html

 

[interested]

Still waiting for the sky to fall in 2nd half of 2010 ? Spring 2011 buy with the herd !!!!

http://www.680news.com/business/art...signals-coming-from-the-canadian-condo-market

Inspirational as always George:

Now a couple of points. 1) I note the article suggests new buyers and the luxury market. Bodes well for Ka1 and for me with our Aura and Shangrila purchases: Yeah.

However, in my experience (and have only observed the 2 bubbles and prebubbles in Toronto); there was acceleration of price movement before the bubbles burst or at least there was a continued rapid clip before the burst. I say this because Shangrila just had an 8% price increase.
I appreciate that it is now visible, at floor 15 or so and that people see the light at the end of the tunnel and that increases values over a "hole in the ground" but that is still a whopping increase. It would support your view CG. But remember my caution, pendulums when they swing tend to over swing in the opposite direction. The further the swing, the more the price correcton.

Eventually us naysayers unfortunately will be proven right. I can only hope that that would not be the case.

For now, however, it is the top of the7th inning and the home team (CG) is definately ahead.