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Torontos Housing Bubble Pops. The Frenzy is Over Its Over

By jvolstad   Jun 6, 4:04pm   2 links   416 views   7 comments   watch (0)   quote      

http://wolfstreet.com/2017/06/05/toronto-house-price-bubble-condo-pops/

Homeowners, after a protracted delay, are starting to react to the strong price growth weve experienced over the past year by listing their home for sale to take advantage of these equity gains.And it has already impacted prices. The TREB MLS Average Price for all types of homes, dropped 6.

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1   APOCALYPSEFUCK_is_ADORABLE   1344/1344 = 100% civil   Jun 6, 6:07pm  ↑ like (3)   ↓ dislike   quote    

Really.

What kind of an ASSHOLE! would actually pay money to live in fucking Toronto?

The big banks are there because they got chased out of Montreal by francophone radicalism and it doesn't snow that much! WOW! Take all my money!

Who cares?

No one any more!

2   Rin   255/258 = 98% civil   Jun 6, 6:11pm  ↑ like (1)   ↓ dislike   quote    

Actually, the Asian whores are cuter in Toronto than in Quebec province, however, on the flip side, the French-Canadians hoes are the hottest women north of Boston!

3   BayAreaObserver   1067/1068 = 99% civil   Jul 17, 2:42pm  ↑ like   ↓ dislike   quote    

Toronto Home Sales Plummet to a Seven-Year Low.

Total home sales in Greater Toronto dropped to 5,977 in June, the lowest level since 2010 and down 15.1 percent from the month prior, data from the Canadian Real Estate Association show. Average prices are down 14.2 percent since March -- the fastest 3-month decline in the history of the data back to 1988 -- while the ratio of sales to new listings sits at its lowest level since 2009.

The June data comes after a series of measures by policy makers to tighten access to the market -- and before the Bank of Canada hiked its benchmark interest rate last week, the first increase since 2010 that will further pinch mortgage eligibility. Prices and sales also fell in nearby regions such as Hamilton-Burlington and Kitchener-Waterloo, CREA data show.

“Changes to Ontario housing policy made in late April have clearly prompted many homebuyers in the Greater Golden Horseshoe region to take a step back and assess how the housing market absorbs the changes,” Gregory Klump, CREA’s chief economist, said in a written statement, referring to Toronto and its surrounding communities.

Sales also fell 4 percent from the previous month in Vancouver, the country’s other hot real estate market, to 3,047 residential units. Greater Vancouver remains Canada’s most expensive market with an average price of C$1.04 million, down 3.2 percent from May.

Full Article: https://www.bloomberg.com/news/articles/2017-07-17/toronto-home-sales-fall-15-1-percent-in-june-amid-national-drop

Similar from The Globe and Mail: Housing sales fall in most markets across Canada. https://www.theglobeandmail.com/real-estate/the-market/june-home-sales-fall-67-per-cent-biggest-monthly-decline-since-2010/article35706463/

If you're interested in how the Asia housing market is doing (mixed bag right now) - try the South China Morning Post or Singapore Straits Times.

4   Ceffer   865/865 = 100% civil   Jul 17, 2:46pm  ↑ like (1)   ↓ dislike   quote    

Everything in Canada is rated on the Rin Hoe-O-Meter, nothing else matters! Montreal is a 10 and Toronto is an 8.

5   HEY YOU   1056/1056 = 100% civil   Jul 17, 3:07pm  ↑ like   ↓ dislike   quote    

APOCALYPSEFUCK_is_ADORABLE says

Really.

What kind of an ASSHOLE! would actually pay money to live in fucking Toronto?

You are fun to read!

6   HEY YOU   1056/1056 = 100% civil   Jul 17, 3:08pm  ↑ like   ↓ dislike   quote    

American overpayers are going to be screwed & left with bleeding assholes?

7   Strategist   2012/2017 = 99% civil   Jul 17, 4:36pm  ↑ like   ↓ dislike   quote    

Why would anyone want to pay high prices to live in an igloo, when they can live in a paradise like Sunny California?

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