The Toronto Condo / Housing Market. Any Savants in the House?

Discussion in 'Business, Careers & Education' started by Sherman90, Oct 23, 2011.

  1. Sherman90

    Sherman90 Senior member

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    I own a new condo downtown and am already thinking about refinancing and reinvesting in future builds. The trouble is clear, though: Toronto's real estate market - particularly in terms of new condo developments - is extremely hot.

    I'm relatively new to real estate and am not sure where to turn to for sound, objective advice on real estate investment in the GTA. All the real estate brokers I've spoken to say we're not in a bubble (go figure), but within a 500m radius of my own building there are at least 10 new towers going up, and some of them for MORE $/square foot than current fresh builds are going for! Wtf?

    Just looking to see if there are any other members with an interest in the subject...
     
    Last edited: Oct 23, 2011
  2. Lord-Barrington

    Lord-Barrington Senior member

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    Both Toronto and Vancouver are in extremely hot housing markets right now. Vancouver is in a straight up, world class bubble on the lines of Sydney while Toronto's housing is just overpriced. I don't necessarily think we'll see a collapse of home prices like we did in some parts of the US where homes cost a fortune and buyers were tied into 40 year mortgages that they couldn't even afford at the outset, but I do predict a softening of both housing markets in the near future.
     
  3. chrisjr

    chrisjr Senior member

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