[Uncle Teddy]

I can't believe people are comparing CityPlace to St Jamestown. St Jamestown are rental buildings. When rent controls were added in the 1970's the owners cut back on the maintenance to keep profits up. That led to the decline we see today. This will not happen at CityPlace.

 

[jetsbackincanada]

A quick glance at the..

Waterfront today, and its clear with the pre eminence of the lake view, and the desire to make it even more of a destination, this will not ever be run down, there are a number of older condos along the lake , and they certainly have not become derilect? In five years City place will thrive, I know if I lived there, I would take great pride in them! The lighting features alone seperates this from any cheap old development!

 

[CN Tower]

What I find to be the most interesting thing about that list is that Toronto has double the amount of the next nearest city in a developed country.

The reason is simple- the rest of the developed world is undergoing a dramatic and virtually catastrophic credit crisis while Toronto and Vancouver almost singularly have become flight capital destinations for worldwide wealth. This phenomenon is no doubt temporary and has a very high possibility of a violent slingshot move in the other direction as that capital is pulled out of Canada, either for immediate needs at home or due to shift in foreign policies. The booming housing market is unfortunately not the by-product of strong job growth and improving household incomes.

In sum, the market for new development in Toronto is artificial.

 

[ttk77]

I've heard that said a lot and I don't doubt it given the huge amount of Asian investment, especially in Vancouver, but I would really like to see the numbers for myself. Do condo developers release numbers on the proportion of foreign investors or non-resident buyers in any particular development? Is that information available anywhere online?

 

[caltrane74]

The reason is simple- the rest of the developed world is undergoing a dramatic and virtually catastrophic credit crisis while Toronto and Vancouver almost singularly have become flight capital destinations for worldwide wealth. This phenomenon is no doubt temporary and has a very high possibility of a violent slingshot move in the other direction as that capital is pulled out of Canada, either for immediate needs at home or due to shift in foreign policies. The booming housing market is unfortunately not the by-product of strong job growth and improving household incomes.

In sum, the market for new development in Toronto is artificial.

Well 100,000 people moving to Toronto is not artificial.

of those a fair percentage are business class, coming here with 100's of thousands of dollars in hand to buy a home, the rest skilled, in demand trades people.


No other city can match that kind of growth, add on top of that the greenbelt, and you can see that it's not that artificial at all.

Since, I started at my company, we've doubled the number of people working here. We do e-learning , mobile apps, and publishing print and online.

 

[ttk77]

An interesting couple of articles involving property values and foreign investment in Toronto's condo market (both from earlier this year):

http://www.torontocorerealestate.co...orontonians-guide-to-condos-you-should-avoid/
http://www.financialpost.com/person...tting+Toronto+condo+market/4817203/story.html

 

[jetsbackincanada]

The reason is simple- the rest of the developed world is undergoing a dramatic and virtually catastrophic credit crisis while Toronto and Vancouver almost singularly have become flight capital destinations for worldwide wealth. This phenomenon is no doubt temporary and has a very high possibility of a violent slingshot move in the other direction as that capital is pulled out of Canada, either for immediate needs at home or due to shift in foreign policies. The booming housing market is unfortunately not the by-product of strong job growth and improving household incomes.

In sum, the market for new development in Toronto is artificial.

It is a testament, to the goodwill, and standing that Canada has in the international community, we are viewed as a safe place, to keep $$, as the corruption, scandal, and illusionary wars, hold down the rest of the west.
It is a reality that in these times of conflict, and corruption, Canada stands for stability and calm. If you lived in Cyprus, Saudi Arabia, China, or wherever, take a quick look around. Theres few places that seem to be on the right track, Canada stands for that.This is not a blip. The US, is only gonna become more divided, more isolated, more contentious. The two sides here, cant even set the table , let alone decide whats for dinner. There is no simple resolution, ....to invest here, (US) is risky, if not foolish,.
Invest in Europe, ??? With the mess in Greece, Ireland and even the UK? The middle east?? No way.. Australia. and Canada, seem the safest bets, to still be standing 15 years from now. You may even get a return on your investment!. In the US, Wall Street, is a very scary place to have your future rely on!
The housing market will be able to absorb this influx of real estate, purely based on domestic growth, immigration, and the urban migration, which truly fuels these
markets.
Will there be corrections sure!? But the bottom will not fall out....all the millions of $$ invested, by 1000's of people, seem to testify that for their best bet, they'll keep their money here!
The sky is not falling, at least when your under the red n white of the maple leaf! The greatest country in the world, is just reaping the rewards of seeds sown, over generations. True ally of global stability, first responder with aid, medicine and food, participant in all UN peacekeeping missions, not to mention, a banking system, with more backbone than most. These are all factors in the BOOM, that will go on, and proof that the slow long way, will pay off in the long run.
This is not the repercussions of a sudden global crisis, more the long term results, of years of playing by the rules , working with others, and being a true democracy. That reputation, is reason for this prosperity. Sure, others have cut corners, to gain the lead, but this little hockey loving tortoise, has surpassed, all those napping rabbits!

I say three cheers, for the land of Mac Donald, Howe, and Gretzky. !!

 

[vegeta_skyline]

The reason is simple- the rest of the developed world is undergoing a dramatic and virtually catastrophic credit crisis while Toronto and Vancouver almost singularly have become flight capital destinations for worldwide wealth. This phenomenon is no doubt temporary and has a very high possibility of a violent slingshot move in the other direction as that capital is pulled out of Canada, either for immediate needs at home or due to shift in foreign policies. The booming housing market is unfortunately not the by-product of strong job growth and improving household incomes.

In sum, the market for new development in Toronto is artificial.

Obviously there's a reason for it. That's one of them but as others have mentioned there are other factors involved as well.

 

[yyzhyd]

Totally agree with you jetsbackincanada!

I say three cheers, for the land of Mac Donald, Howe, and Gretzky. !!

Although I love my hockey, I'd put any number of other Canadians ahead of Howe and Gretzky;
L.P. Pearson, P.E. Trudeau, T. Fox, W. Osler, N. Bethune, M. McLuhan to name but a few.

 

[jetsbackincanada]

Totally agree with you jetsbackincanada!



Although I love my hockey, I'd put any number of other Canadians ahead of Howe and Gretzky;
L.P. Pearson, P.E. Trudeau, T. Fox, W. Osler, N. Bethune, M. McLuhan to name but a few.

I totally agree, however, I was trying to lighten the mood a lil bit at the end!!
Although, in the US, Gretzky might be more famous than any other Cannuck! It's true..... they think a Trudeau, is a pastry, and a LB Pearson is a type of peircing!! of course McLuhan, is fries with gravy Right???

 

[Urban Shocker]

I can't believe people are comparing CityPlace to St Jamestown. St Jamestown are rental buildings. When rent controls were added in the 1970's the owners cut back on the maintenance to keep profits up. That led to the decline we see today. This will not happen at CityPlace.

Lots of people are renting in City Place though, and the owner-occupier model hasn't prevented houses in various traditional, lowrise residential neighbourhoods from becoming slums either.

 

[MDV3]

It is a testament, to the goodwill, and standing that Canada has in the international community, we are viewed as a safe place, to keep $$, as the corruption, scandal, and illusionary wars, hold down the rest of the west.
It is a reality that in these times of conflict, and corruption, Canada stands for stability and calm. If you lived in Cyprus, Saudi Arabia, China, or wherever, take a quick look around. Theres few places that seem to be on the right track, Canada stands for that.This is not a blip. The US, is only gonna become more divided, more isolated, more contentious. The two sides here, cant even set the table , let alone decide whats for dinner. There is no simple resolution, ....to invest here, (US) is risky, if not foolish,.
Invest in Europe, ??? With the mess in Greece, Ireland and even the UK? The middle east?? No way.. Australia. and Canada, seem the safest bets, to still be standing 15 years from now. You may even get a return on your investment!. In the US, Wall Street, is a very scary place to have your future rely on!
The housing market will be able to absorb this influx of real estate, purely based on domestic growth, immigration, and the urban migration, which truly fuels these
markets.
Will there be corrections sure!? But the bottom will not fall out....all the millions of $$ invested, by 1000's of people, seem to testify that for their best bet, they'll keep their money here!
The sky is not falling, at least when your under the red n white of the maple leaf! The greatest country in the world, is just reaping the rewards of seeds sown, over generations. True ally of global stability, first responder with aid, medicine and food, participant in all UN peacekeeping missions, not to mention, a banking system, with more backbone than most. These are all factors in the BOOM, that will go on, and proof that the slow long way, will pay off in the long run.
This is not the repercussions of a sudden global crisis, more the long term results, of years of playing by the rules , working with others, and being a true democracy. That reputation, is reason for this prosperity. Sure, others have cut corners, to gain the lead, but this little hockey loving tortoise, has surpassed, all those napping rabbits!

I say three cheers, for the land of Mac Donald, Howe, and Gretzky. !!

that was very proffesional.... Beautiful and inspiring..... If you dont mind me asking... How long did this take you??? Or does it just come naturally?

 

[jetsbackincanada]

Wow, very kind words my friend, thank you so much.

Honestly, it took me five minutes to write, but 20 years of living in the US, to understand.
The US is a great place, full of great people and wonderful nature. However, the seeds of Emperialism, have sown arrogance, and short sighted behavior. The most powerful country in the world, and its military, have been subverted by large business interests, that have made a mockery of it's democracy,.... it's more of an auction now,............ "policy to the highest bidder"!!
The hate and vitriol, spewed from both side has become laughable, were it not so deadly in consequence. The amount of time wasted and policy debated, without any results is very discouraging to those educated.....and ignored by the masses, who populate the red states.

I say all that to say this, When I started reading the Globe n Mail, daily online about 3 years ago.....I was in shock, at how different the two worlds are, the party lines of about terror and fear, were nowhere to be seen, the complete overlooking of the rest of the planet,..... just a whole different approach, more being a part of the world. Not speaking to me , like I'm retarded. No news anchors mispronouncing, Marseilles, Bahai, or Chicoutimi.
Last, the love that every corner of the world has for Canada, makes me so proud. I love her more each day, and am a proud ambassador abroad, for the TRUE NORTH!!!

Keep building them towers!

 

[jetsbackincanada]

Honestly...I had a 22 year old American kid ask me, (cause he kind looked up to me..)
"If America is 200 years old, why is it 2008?? What do you say??
Hysterical, yet sad!

 

[Mongo]

In the interest of completeness, here is the list for buildings under construction at least 300m tall -- the "official" supertall level (who decided that 300m is the minimum height to be a supertall?). Obviously, Toronto is not on this list -- although if some of the rumours pan out, Toronto might join it.

1. (11) Dubai, UAE
2. (10) Mumbai, India
3. (5) Abu Dhabi, UAE
4. (4) New York, USA
5. (3) Riyadh, Saudi Arabia
5. (3) Shenyang, China
5. (3) Shenzhen, China
8. (2) Busan, South Korea
8. (2) Chongqing, China
8. (2) Guangzhou, China
8. (2) Jeddah, Saudi Arabia
8. (2) Moscow, Russia
8. (2) Nanjing, China
8. (2) Shanghai, China
8. (2) Tianjin, China
8. (2) Wuxi, China
17. (1) Bangkok, Thailand
17. (1) Changzhou, China
17. (1) Dalian, China
17. (1) Hanoi, Vietnam
17. (1) Kunming, China
17. (1) Kuwait City, Kuwait
17. (1) Liuzhou, China
17. (1) London, UK
17. (1) Manila, Philippines
17. (1) Mecca, Saudi Arabia
17. (1) Osaka, Japan
17. (1) Pyongyang, North Korea
17. (1) Santiago, Chile
17. (1) Seoul, South Korea
17. (1) Suzhou, China
17. (1) Taipei, Tiawan
17. (1) Yantai, China