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Baby, we got a bubble

crash'n with my honey
cash in we're going for a double
baby, got all my money
Baby, we got a bubble
Baby, we got a bubble

one thousand feet high
condo kids be kick'n
staring at the sky
time be fly quicken
Baby, we got a bubble

stainless steel
square feet and glass
hopeless deal
spandrel broken mass
Baby, we got a bubble

twenty sixteen
6 is the New York
party time scene
condo crazy pop the cork
Baby, we got a bubble
 
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Reactions: Rod
yin_yang said:
no, because we still have a long way to go until we are like NYC, London, Hong Kong. people see great deals here. at least i do, and if and most of my friends do, then i imagine most of the rest of the intelligent wealthy people worldwide see value as well.
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How can you put Toronto in the same category at NYC, London, and Hong Kong? That is absurd by any measure.
 
Migos said:
How can you put Toronto in the same category at NYC, London, and Hong Kong? That is absurd by any measure.
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can you read, bro?

read what i said again and type in a reply that actually makes sense in relation to what i wrote.

lmao.
 
Global economies are not exactly positioned for more bullishness and neither is the Canadian economy. While I'm not anticipating an economic bust, I think we're going to be sailing in rougher waters for a short period of time.

Markets should pare back somewhat. I think there will still be soft demand from international investors due to our attractive dollar and our 'safe haven' status (which is all relative). Overall, I'd expect softening but I also expect the real estate market in the Toronto core to have some buoyancy as a result of the growing number of people who want to live in the city.
 
James said:
Overall, I'd expect softening but I also expect the real estate market in the Toronto core to have some buoyancy as a result of the growing number of people who want to live in the city.
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Generally agreed. This isn't directly related to your comment, but I find that the lines are often blurred (in media and popular analysis of the market) between living Downtown, living in Toronto, and living in the GTA. The more recent desire to live in an urban environment doesn't explain the rise of house prices in Milton, Mississauga, etc., where incomes are (presumably) generally lower than Downtown or Toronto at-large.

Despite the Growth Plan induced land shortage, I don't hear anything about bidding wars in the 'burbs, and so I presume that those price increases must be linked more to a) a spin-off effect from Toronto and b) the effect of low mortgage rates. Although (b) may persist for a while, I don't see anything that will keep suburban prices as high as they are in the long run, and if the price of a detached house in the periphery starts to fall, then $600-$900k semis in the core will start to look much less attractive. We're already seeing the 30-35 cohort renting condos downtown until there is a baby and then buying a spacious detached in Oshawa, and I think that trend could easily pick up considerably.
 
James said:
Good article from John Pasalis, "Making Sense of Real Estate Bubbles".

http://www.movesmartly.com/2016/02/do-real-estate-bubbles-exist.html#more
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Interesting thoughts, but I don't get how this comment can be justified:

The fact that prices did fall in the US was something that nobody could have predicted – much like how nobody can predict when the stock market is going to crash. - See more at: http://www.movesmartly.com/2016/02/do-real-estate-bubbles-exist.html#more
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The U.S. housing crash was predicted by quite a few people, and the evidence was certainly there. The timing of the bubble bursting is always the difficult part as the market can remain irrational for long periods of time, particularly when things like government intervention are involved.
 
What's going on in Vancouver is sad. I figure it will only get worse in Toronto since I can see an exodus from Vancouver to here. Real estate here must look so cheap.
 
TheKingEast said:
What's going on in Vancouver is sad. I figure it will only get worse in Toronto since I can see an exodus from Vancouver to here. Real estate here must look so cheap.
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I'm actually surprised it hasn't happened already. As much as I love spending time in Vancouver, it doesn't have nearly as diverse an economy as Toronto. If I were a wealthy foreign investor, I would sooner 'park' my money into Toronto real estate, and by extension, the GTA economy, than the thinly supported Vancouver economy.
 
James said:
I'm actually surprised it hasn't happened already. As much as I love spending time in Vancouver, it doesn't have nearly as diverse an economy as Toronto. If I were a wealthy foreign investor, I would sooner 'park' my money into Toronto real estate, and by extension, the GTA economy, than the thinly supported Vancouver economy.
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you're assuming that all they care about is money. that is a factor but so is climate and proximity to family/outdoor activities.
 
Supply and demand. When the demand for homes being close to work, subways, buses, hospitals, shopping and fine dinning is high, and supply is low, prices will rise. I have a large uptown Toronto property, within walking distance of the aforementioned, they don't make them that big anymore (60' x 120'), so it will go to the highest bidder. I foresee a lot of bidders.
 
Dal Kury said:
Supply and demand. When the demand for homes being close to work, subways, buses, hospitals, shopping and fine dinning is high, and supply is low, prices will rise. I have a large uptown Toronto property, within walking distance of the aforementioned, they don't make them that big anymore (60' x 120'), so it will go to the highest bidder. I foresee a lot of bidders.
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Exactly the kind of parochial simpleton thinking that drives bubbles.

The housing market is complex, it's wrapped up in global economic issues, and it goes far beyond "supply and demand" in your little neighbourhood.
 
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