Baby, we got a bubble!?

[cdr108]

That said, anectdotally, I can say that around Oakville where I live there are very few For Sale signs so perhaps people have decided like they did in late 2008 to just not list their houses and not move and maybe condo George's predictions of decreased supply will come to fruition. However, when I looked a the numbers, it suggested to me that while sales were done about 2000, listings were only down about 800. So there were 1200 more listings last month.

August figures should be interesting.

I don't live in your area but i'm under the assumption that Oakville has limited product and there isn't much being built. I'm also guessing the mix of product is single detached houses on large lots.

Dt Toronto and many areas within the GTA are building cookie-cutter condos 40/50/60+ storeys tall with 400/500/600+ units in each tower on small lots ... the initial land value may be expensive but when it's divided by the gross built area, it comes down to $30-40 PSF.

 

[KA1]

This article KA1 almost sounds more like an advertorial.

I fully agree with you, Interested, that is an advertorial. I just wanted to draw attention of the community on this thread as to what is being said around. A few years ago, when shares of Nortel and other High tecch companies were dropping like 'dead birds', there were quite a few "Pundits" encouraging the public to scoop up the shares of Nortel at a bargain price because the fundamentals of the company were very sound.

Just sit back , read and either laugh or cry at the 'suckers' taking the bait of real estate brokers/developers.

 

[interested]

Actually, I believe that the land value now is closer to $50-$60/buildable foot for most projects. It was around $30 in 2007 but your point is well taken.

In Oakville, they have approved alot of development North of HWY 5 and should have about 27000 people there over the next 5 years so there will be product. There are more condos coming to Oakville as well but you are absolutely correct in your statement that it is still singles but alot of town homes. Single detached lots are 35,40 and 50 feet which is a large lot now frontage. Towns on less. I think the towns actually outnumber the singles in alot of new developments due to price point.

Downtown Toronto: You are right CDR that they seem to be going higher and higher with the projects. What was 25 stories now seems to go 40 or thereabouts. I guess developers once they paid for the land view the more air space as sheer profit, hence the requests for additional floors on other projects. I still think at some point demand will be outstripped by supply and prices modulate to reflect this.

 

[interested]

This article KA1 almost sounds more like an advertorial.

I fully agree with you, Interested, that is an advertorial. I just wanted to draw attention of the community on this thread as to what is being said around. A few years ago, when shares of Nortel and other High tecch companies were dropping like 'dead birds', there were quite a few "Pundits" encouraging the public to scoop up the shares of Nortel at a bargain price because the fundamentals of the company were very sound.

Just sit back , read and either laugh or cry at the 'suckers' taking the bait of real estate brokers/developers.

Unfortunately, I learned that lesson the hard way. I called it right when Nortel was $120 that it would halve. Unfortunately, I bought at around $65 and again at $50. But then, there was outright fraud there. Anyhow suffice to say that was definately not one of my brilliant investing moves. I understand however I was not alone. (Misery loves company).

 

[KA1]

Unfortunately, I learned that lesson the hard way. I called it right when Nortel was $120 that it would halve. Unfortunately, I bought at around $65 and again at $50. But then, there was outright fraud there. Anyhow suffice to say that was definately not one of my brilliant investing moves. I understand however I was not alone. (Misery loves company).

Think of the experience this way. Now, when you are sitting on a rocking chair, you have something to brood about. (grin).

 

[interested]

Think of the experience this way. Now, when you are sitting on a rocking chair, you have something to brood about. (grin).

Yeah, thanks alot. I always like sitting in my rocking chair recalling my less than stellar moments.

 

[interested]

So I am reading the Globe and Mail Real estate section. I look at the done deals: There are 8:
3 sold above ask at about a 9% premium average:
2 sold at ask.
3 sold at below ask by about 1.5%.

Did I not just read somewhere that Toronto average price to list ratio was 97%. Clearly we are being manipulated to thinking things are still at list or being bid up beyond list.

I know as well that this says nothing about prices that have been reduced or relisted and simply compares to the most recent price.

 

[daveto]

That is always the case, for the sold $s in the examples given in the star/globe/fp. RE advertising is one of the single biggest sources of revenue for print media (look at all those RE ad inserts in the weekend papers), and the papers are stuck in a tight spot between journalistic integrity and business realities.

 

[interested]

I always smile because they put in a write up in the paper about a project "for information and as reporting" and then low and behold, there is the full page ad a page or two later advertising the same project. It's almost as if they agree to write up the project in exchange for advertising. I am not saying this is happening but it sure looks that way.

 

[cdr108]

I always smile because they put in a write up in the paper about a project "for information and as reporting" and then low and behold, there is the full page ad a page or two later advertising the same project. It's almost as if they agree to write up the project in exchange for advertising. I am not saying this is happening but it sure looks that way.

oh please ...
it looks like a duck, quacks like a duck ...
it's a mongoose ?!?

 

[interested]

yep. Definately a mongoose!!!

 

[Condo George]

Alot of potential buyers for the Yonge and Front project, they love this location and are willing to pay for it. Why then if the market is tanking do we have local and international investors still wanting to buy and invest in Core condos? Backstage on the Esplanade condos will be just south of L Tower.

 

[interested]

could you expand on what project and what numbers you are talking about. Yonge Street at Front is pretty much the heart of the city so if the heart would go, then imagine a little out of the core. I would expect this to be one of the last areas to actually suffer.

 

[Condo George]

The info session will happen late Sept and sales through worksheets in October. Most likely sell 20 + on day one, if I get the price per sq ft I am looking for $600 to $625 psf on the ground, if it comes in over $700 on the ground I wont sell the site and maybe wait for Bayside

 

[KA1]

Alot of potential buyers for the Yonge and Front project, they love this location and are willing to pay for it. Why then if the market is tanking do we have local and international investors still wanting to buy and invest in Core condos? Backstage on the Esplanade condos will be just south of L Tower.

Ah! there you are, condo George -- our hope and ray of sunshine among the doomers and gloomers.

Pray, tell me, if the market is strong in the core, then, why so many assignment listings for MLS, Burano and others. Believe it or not, there is even one assignment listing for the much hyped AURA.