cdr108
Senior Member
It seems that Mod -- Interchange 42 -- is sleeping on the switch.
never mind ... i found the ignore feature !
It seems that Mod -- Interchange 42 -- is sleeping on the switch.
-next we see people dreaming about the condo market going up and up while Urbanation reports disasters
http://www.theglobeandmail.com/repo...bet-on-torontos-condo-market/article11769775/
Guess, who has jumped into Toronto condo development market with both feet.
This guy seems to be a lot more confident of Toronto condo market future than the perennial 'Bears'.
The following news are about condos:
Canadian housing starts in cities with 10,000 population or over (SAAR): April 2012= 223,500...... April 2013= 153,500 #Yikes
#Vancouver bucks national trend: Single family housing starts up 17% y/y, multis (condos) up 12% y/y. #WhatAreDevelopersThinking?
I'll say again, fallng housing starts are good for price stability in long-term, but will put serious pressure on labor market in short term
Toronto multi unit starts (i.e. condos) fell 73% y/y in April. Developers pulling back hard.
For the January-April period, housing starts in Canada have fallen 23% y/y
April housing starts in Canada fell 33% y/y
http://business.financialpost.com/2...developers-run-out-of-credit/?__lsa=7d8a-1ccc
There are concerns that Toronto is not creating enough new households to fill those condos, as the percentage of Canada’s new immigrants moving to the city has declined from 45% in 2006, to 30%. The decline has been offset by a rapid rise in young people moving into the GTA.
Mr. Tal says it doesn’t mean there will be a condominium crash but it could lead to a gradual slowing in supply.
“The picture that is emerging is 2014-2015 will be a turning point in the condo market,” Mr. Tal writes, adding he expects vacancy rates to rise and rental increases to ease.
The key for the market will be how leveraged condo investors are. Mr. Tal says if the majority of investors have 20% down — something he believes to be true — there will not be a mass exodus to sell.
All in all not very good news if you did not have a 20% down payment for your investment.
To the guy who keep dreaming about Toronto flooded by his countrymen: it is not happening.
http://www.theglobeandmail.com/repo...bet-on-torontos-condo-market/article11769775/
Guess, who has jumped into Toronto condo development market with both feet.
This guy seems to be a lot more confident of Toronto condo market future than the perennial 'Bears'.
He's picked up a chunk of a developer. They really don't lose much money if a building fails to sell, they just lay-off staff and pause for a few years until the market recovers.
Then pay Mr Tal for that info and do not express that desire here. Do what you expect others to do for your data..I'd like to see the intra-migration numbers to Toronto.
excellent news! you can block recharts posts by adding him to your ignore list.
Click his profile and choose add to ignore list....and bam! thread has improved 178%