[daveto]

Someone suggested we have another poll. Since the last one closed at the end of Sept, http://www.urbantoronto.ca/showthread.php?t=9951 I'll set this one to close at the end of Nov.

This is for the change in the City of Toronto (ie 416) residential prices, net of inflation. August 2008 is the starting benchmark, and the poll is for the change as from the end of 2009 TREB #'s.

 

[urbandreamer]

-25%+ imho. Especially in the condo market and crappy locations for housing. The Annex will always be popular, but even -5%-10% is possible....

 

[cdr108]

-25%+ imho. Especially in the condo market and crappy locations for housing. The Annex will always be popular, but even -5%-10% is possible....

The Annex increased ~ 200% in the past decade compared to 125-150% in the rest of GTA.
Do you think it will decline by 5-10% only?

 

[cacruden]

My best guess is - 7%

 

[daveto]

A reminder that this poll closes end of Nov.

 

[daveto]

Summarizing the results...

The avg of the votes was for an 11% drop (net of inflation).

Since November TREB results put us already at that point, that means that the avg voter thinks we'll see no more price drops over the next year.

A rather optimistic bunch, aren't we?

 

[urbandreamer]

^Obviously not many people on UT have ever worked in manufacturing. When Brampton shuts down maybe some will notice?

 

[gei]

I know this is all anecdotal... but I only know people looking to buy... I don't know anyone looking to sell.

And all those people looking to buy are 'waiting' for these supposed crazy price drops. I have a feeling this might be as far down as we go, and all those buyers waiting to pounce are going to be very disappointed.

I'm actually looking to pick up another condo myself and think I might just do it in the very near future.