Baby, we got a bubble!?

[Undead]

Even bigger units in older buildings are selling slowly. Someone I know sold their large 1970s two bedroom last fall. It took them two months and multiple discounts even though their listing price was totally reasonable.

 

[Dan416]

Even bigger units in older buildings are selling slowly. Someone I know sold their large 1970s two bedroom last fall. It took them two months and multiple discounts even though their listing price was totally reasonable.

Older buildings tend to have high maintenance fees.

 

[Undead]

Older buildings tend to have high maintenance fees.

New units aren't selling either. And besides, new buildings have artificially low maintenance fees that equalize pretty quickly with old ones.

 

[Admiral Beez]

Cramped boxes with window-less bedrooms are being completely rejected by a market where the "retail investor" has largely disappeared.

And so they should be.

On the plus side, one of my mates is looking to downsize from his big downtown house but does not want a condo or anything with maintenance fees. He's seeing several smaller 2-bed SFHs, including row houses for under $1 million.