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Baby, we got a bubble!?

Condo George said:
CN, if you apologize to me and admit you were wrong on judging me, I will come back to this board and provide info on how things are going on the street, not a chart or graph with numbers on it, although important, if you have done well in your career you will know that there are things behind #s.
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I'm sorry you are a shill & could care less about your self-interested distortion of black & white facts.
 
jremazki said:
From G+M
...
The International Monetary Fund has added its calculations to those of others who have been measuring the over-valuation in Canada’s housing market, coming to the conclusion that the level is about 10 per cent.
...
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js97 said:
I think a 5 % price adjustment would bring all prices back in line (at least in Toronto) to realistic levels. That being said, there are a lot of 30's professionals that (at least in my circles) that don't evaluate a home's price based on medium historic prices, but their current affordability level. I've noticed this phenomenon in the past few years, where couples will pay 30/50/100k more than actual worth because they were tired of looking and okay with overpaying. This is the same generation that's never experienced scarcity and/or a housing crash. It will be interesting to see how the next 5 years unfolds.
...
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I think a 5-10% correction is about right and is already in order. I've seen a number of detached single family homes that are being re-listed at about that 5-10% decrease after being pulled off the market at the end of 2012. The problem, though, is that some of the properties end up getting multiple offers and once again end up selling for over asking. Some say sellers with super high expectations are the ones driving the prices up but, from what I can see happening in this market, the buyers have just as much, if not more, influence on these prices than most people think.
 
TorontoMike¢¢ by incentives I'm not talking about inflated inventory blowout offers, I'm talking about those ads you see on kijiji by realtors offering "VIP" access to new presale events offering "free" ipads, trips etc.

What many don't realize is that if precon falls in price resale will follow (it's below precon today but the danger is it could go lower still.)
 
Condo George said:
I am shocked, I really expected more from you CN, disappointing
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CG:

Please post your thoughts. On the forum we can our interpretation based on our own beliefs.

I would ask that people give full disclosure of any possible conflict of interest however so that we can evaluate the data and assign a bias factor if we feel it is necessary.

In the interest of disclosure I will state that I do own a small number of rental condos but otherwise am in no way related to the real estate industry. As those who have read my posts, they will know that while I do not expect a crash, I am not overly optimistic for the next couple of years as I do believe there is a disconnect between prices/affordablility and demand.

I hope CG that you will honestly tell us what you see personally happening, good or bad.

Thank you.
 
UD most of those kijiji ads are non VIP low volume realtors trying to move a unit or two of over priced builder inventory with special sessions etc. Ive seen some of those ads promising prices that were lower than the builder sold to insiders before day 1. When I have looked into it every excuse in the book .. 'oh not available but u have this one' thats 50k more etc.. lot of garbage in the industry.
 
UD most of those kijiji ads are non VIP low volume realtors trying to move a unit or two of over priced builder inventory with special sessions etc. Ive seen some of those ads promising prices that were lower than the builder sold to insiders before day 1. When I have looked into it every excuse in the book .. 'oh not available but u have this one' thats 50k more etc.. lot of garbage in the industry.
 
interested said:
CG:

Please post your thoughts. On the forum we can our interpretation based on our own beliefs.

I would ask that people give full disclosure of any possible conflict of interest however so that we can evaluate the data and assign a bias factor if we feel it is necessary.

In the interest of disclosure I will state that I do own a small number of rental condos but otherwise am in no way related to the real estate industry. As those who have read my posts, they will know that while I do not expect a crash, I am not overly optimistic for the next couple of years as I do believe there is a disconnect between prices/affordablility and demand.

I hope CG that you will honestly tell us what you see personally happening, good or bad.

Thank you.
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Search Condo George, read my posts last year, you will see good and bad, this is why I didnt sell pre con in 2012, it cost me half a mill in commissions but I maintained the relationships. I continue to focus on assignments then resales, that is where the value is. The gap on pre con is still too wide but recently one developer priced pre con with resale, we have not seen that in quite a long time.

Interested. I am very modest guy, I tell it like it is, I wanted to help others and share info but I dont need to be viewed as a shill or a guy that would do anything for a buck, its not me, so I until I get an apology from CN and it doesnt look like its gonna happen, I wont waste time here. Respectfully
 
Condo George, why not just put him on ignore? Don't let one person keep you from posting.
 
Condo George said:
Interested. I am very modest guy, I tell it like it is, I wanted to help others and share info but I dont need to be viewed as a shill or a guy that would do anything for a buck, its not me, so I until I get an apology from CN and it doesnt look like its gonna happen, I wont waste time here. Respectfully
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1. You're a cog in the massive multi level marketing scheme that's gone on in the Toronto new condo market since around 2003
2. You're not modest
3. Your distorted opinions are not valuable here. Try CP24 infomercials.
 
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