Wishful thinking. Less than 5% of Toronto's condo market is owned by foreign investors, and most of them hold onto units for 6 years or more. The CMHC collects this data semi-annually.
 
CondoVirgin2 said:
Good thing I got lots of time on my hand :) For the price of a decent condo, I could buy a nice castle in Europe somewhere ;)
Remember a few years ago when the price of a barrel of oil went to almost $150 and they said it's going up further. It's now around $40 a barrel. Wait till all these foreign speculators all head for the exit door at the same time.... that's when I will be buying :)
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Keep banking on that. You may be very disappointed.
 
Most condo investors live in the 905 and own a SFD home (which is gold!) as collateral. As long as there is a rental market in TO with low vacancies (there is!) there is no reason to believe that there will be a crash or people running for the exit door with a fire sale; let alone all doing it at the same time. It's not like they are in a social club and figure this stuff out as a group. This isn't the stock market. Real property runs with its own set of rules. But check with Garth for his take.
 
Not sure how old or recent this took place. Looks like fire damage.


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