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Been saying this over and over again. Housing valuation is determined all at the margin. Now that people are waking up and realizing that they were paying inflated prices the activity at the margin is downward.... this will only get worse during the next recession and we are 10 years on after...

Come to richmond hill and markham and you will see for dozens of for sale signs at every residential street intersection. On weekends, all you see are open houses every other house. What does this mean? Who knows, but I have never seen this in my life.

https://macro-man.blogspot.ca/2017/04/im-yelling-timber-cads-going-down_27.html

50% at the least. It will happen... no doubt about it.

We have a lot of oil production but the vast majority of the economic growth in the last 10 years came from the one trick pony of a economy we have - housing. Congratulations to Ottawa and Provincial governments for a job well done!!

Doesn't matter what you want. Things are going to happen whether you like it or not. It is unfortunate that the policy makers bet the country's fortunes on one thing (housing), especially during the past 10 years. There will be consequences as always for credit binge. Right, and its not...

There isn't a difference. People on this thread and everyone who has skin in the game (investors, real estate agents, developers, financiers etc) will all make arguments to support a case that this time it is due to a unique set of circumstances. It is never different, especially when its a...

http://www.theglobeandmail.com/real-estate/toronto/investors-super-heating-the-toronto-market/article34380897/

You sound like you have spent too much time with Paul Kugman. You want to talk about food costs? While they have not risen as exponentially as housing, education, books, health care and energy, the cost of food has risen substantially in the past 10 years. Go read the following for starters...

Do you know that inflation erodes the purchasing power of the middle class and anyone who has the sense to save (yeah a forgotten concept in this debt binge house of cards economic we have nowadays). Do you know that the cost of things that one needs to survive and sustain life has risen...

Don't worry, Trump is coming for Canada. Ontario manufacturing has benefited immensley from NAFTA relative to that of the US. US companies get a currency discount AND a health care cost discount if the choice was between keeping a plant in the US or moving it to Canada . I don't know a single...

This just solidifies my conviction that there will be many many divorces in the not too distant future as people end up in financial ruins, ultimately leading to personal life disasters.

It won't be comical in the end for many. I wouldn't plan my life around the expectation of a crash or go out and buy a property because I *need* to buy a property (because you don't). You also have the option to move. I lived in the SF Bay Area for a good 5 years recently and eventually got...

Well, in Trader's language I can say you are speaking your *book* so to speak given ur vested interest in an upward trending housing market. When the market falls all the pundits will come out and change their tune. Immigrants, Chinese money, Middle East money, low rates, low inventory, blah...

I think the point is politicians care more about themselves than the people they supposedly represent. Do favors for industry so when you leave office you got a club med job with benefits waiting for you. Treachery. Ontario should tax foreign buyers. Not 15% but 30%. We don't need their money...

Is it possible to get the exposed concrete ceilings polished after the fact? Say if u purchase pre-existing building. Can you hire contractors to polish the ceiling and seal it?

Totally agree. The problem is there is no political will to do anything. The foreign buying helps the government fund their agendas/social programs. They are fully invested in keeping a bubble going. The trigger will be the bond markets, China capital controls and a recession. The Total...

Well they should. But Kathleen Wynne was influenced by the Real Estate Board which made argument about unintended consequences from a tax. Really? The Real Estate industry has a vested interest to keep the music going as does the Ontario/Toronto government. Inflated prices benefit a) Real...

It is a bubble and it will burst like every bubble in history. Why is it a bubble? Every asset is valued by discounted cash flows of the income the asset can generate. No exceptions. No emotional nonsense arguments about well a house is a home that one will live in for 30+ years and blah blah...

Interesting mention of the economic situation in Alberta and the Commercial Real State Market. Vacancy rates inching up across the country. http://www.zerohedge.com/news/2015-12-07/canadas-oilpatch-depression-suicides-alberta-soar-wake-plunging-oil-prices-and-econo