Baby, we got a bubble!?

[Admiral Beez]

I can't help but see there is a small but blabbermouthy part of the affordability "crisis" in people with no life skills blowing enormous sums of money they don't have because they are desperate to live instagrammable lives, and the media is happy to eat that up, because that also describes most members of what's left of the media. This guy probably made sure to tell everyone he met not only that he had a Lexus but that he had "a $50,000 Lexus." Yet he got a flat tire and couldn't afford a replacement? And somehow got a $3,000 loan to pay to replace a flat tire?

This guy's a fool. But lots of young men with no financial sense commit to these credit terms to buy a car they can brag about, even if they're living in their Mom's basement. You don't borrow money to buy a $50k car unless you can afford the payments without stressing your finances. Here's my rule(s) of thumb for buying vehicles..... pay 50% down. If you don't have it, then reduce your car target to something cheaper. Can’t afford a Lexus, get a Corolla. For $15k you can get some really good cars in this town, my cousin just bought a 2014 VW wagon with under 150k kms for $12k. There's no reason to buy a Lexus if you can't afford one, beyond peacocking, of course. If you need a car, for $5k you can get a car to get to where you need.

 

[Jonny5]

What bubble?

OMERS real estate arm has made a massive deal to sell $1billion worth of light industrial real estate in the GTA.

Toronto, Canada & Global Breaking News – CP24

Most recent News News business news stories and video from CP24

www.cp24.com

I guess they need the cash to fund their buy of the Maple Leafs LOL.

 

[rdaner]

I am wondering if anyone has seen a statistic for the number of completions in Toronto for 2024? 2023 saw 32,000 (10,000 downtown) which was a record. I will do a quick tally but wouldn’t be surprised to see a similar if not higher number.

 

[rdaner]

So did the compilation and got 14,350 completions for 2024 in the Don/Dufferin/Dupont/Lake area. That is about a 50% increase from last year!

 

[Jonny5]

'Cash for keys' offers on the rise

Instances of landlords offering cash for tenants to vacate a unit have risen in Toronto, according to real estate professionals in the city.
Real estate experts say the practice is still relatively uncommon, but they have been seeing it more frequently in Canada’s biggest city as landlords face financial pressures such as higher interest rates.
Natalie Costello, founder of Natalie Costello Real Estate, told BNN Bloomberg that the practice of cash offerings for apartment keys has been on the rise. Last year, she started personally helping three clients through the process.

'Cash for keys' offers on the rise in Toronto, real estate professionals say - BNN Bloomberg

Instances of landlords offering cash for tenants to vacate a unit have risen in Toronto, according to real estate professionals in the city.

www.bnnbloomberg.ca

 

[rdaner]

Housing starts for Ontario cities for 2023. Toronto , Kingston and Kitchener are killing it! Lol

Tracking housing supply progress

Find out how many new homes have been started toward Ontario’s housing goals.

www.ontario.ca

 

[slickpete83]

this brings new meaning to the term "Bed & Breakfast" , the new Brampton Bed & Breakfast special

https://twitter.com/x/status/1751726363034198210

 

[afransen]

 

[gabe]

this brings new meaning to the term "Bed & Breakfast" , the new Brampton Bed & Breakfast special

https://twitter.com/x/status/1751726363034198210

The house down the street from me, turned the dining room and bathroom into "bedrooms" They have a small motel style kitchenette in a corner and one bathroom on the lower level, that they all share. The bedrooms rent for $1200 a month for a jail cell sized room. It's like a jail, but at least jail cells come with toilets and sinks!

I've talked to the international students renting at the house, they don't seem to mind, they come from countries where they are sleeping in shacks and huts with dirt floors with no plumbing, this is five star living to them.

Someone in Toronto is renting out a $500 bedroom that's being compared to a 'jail cell'

Attempting to find a budget-friendly place to call home in Toronto's pricey real estate market can be like trying to find a needle in a haystack, a...

www.blogto.com

 

[rdaner]

2023 Ontario city housing starts. Would like to see where in these urban areas these are going.

Tracking housing supply progress

Find out how many new homes have been started toward Ontario’s housing goals.

www.ontario.ca

 

[slickpete83]

why work in Canada anymore, 25ppl x $500 =$12500 jk...
just wait until Brampton landlords figure out that you can rent out the Attic

https://twitter.com/x/status/1752735027282993306

 

[Undead]

It’s our own little Evergrande in the making.

The demand will be there as long as "population growth" continues.

 

[Jonny5]

For lack of a better place to put this, Teachers' real estate portfolio was trounced for the 2023 fiscal year and have announced they are pulling all real estate investment management staff out from Cadillac-Fairview and moving them in house, which I guess means CF will be left as only a property manager and leasing agent.

 

[slickpete83]

move to Toronto, just like going to camp in summer

Toronto landlord seeking fourth renter for one room with two bunkbeds

The space comes with a fully equipped kitchen, bathroom, and a separate den for 'luggage storage'

torontosun.com

 

[afransen]

move to Toronto, just like going to camp in summer
View attachment 548946

Toronto landlord seeking fourth renter for one room with two bunkbeds

The space comes with a fully equipped kitchen, bathroom, and a separate den for 'luggage storage'

torontosun.com

I know it's fun to villainize landlords, but the real travesty is that renters feel like they don't have a better option than this.