Toronto 629 King Residences (was Thompson Residences) | 53.34m | 15s | Freed | Saucier + Perrotte

Automation Gallery said:
I know you are always mentioning the upcoming market crash,.....but 10 years (2022), thats crazy talk
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Crazy talk eh? The last cycle lasted from 1990 to around 2004. Not one commercial tower was built in Toronto for almost 15 years, nor were many condo towers. The 'stump' where Bay Adelaide now stands came to symbolize the crash followed by a sustained lull that lasted for well over a decade.
 
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neubilder said:
Crazy talk eh? The last cycle lasted from 1990 to around 2004. Not one commercial tower was built in Toronto for almost 15 years, nor were many condo towers. The 'stump' where Bay Adelaide now stands came to symbolize the crash that lasted for well over a decade.
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Yeah, but no market crash coming till at least 2015-2016 (after Pan-Ams).....this one and and the bunch of many advanced proposals should be "good to go"
 
Give it a break guys, you have no clue if the market will crash / keep going / soften / ...

Yet again today yet another bank forecasts a 15% price correction over the next 3 years, I can show you similar articles from last year, 2 years ago, 3 years, 4 years, even 5 years ! Seriously ... look for your selves.

Personally, I'm wishing really hard for a crash !
 
taal said:
Give it a break guys, you have no clue if the market will crash / keep going / soften / ...

Yet again today yet another bank forecasts a 15% price correction over the next 3 years, I can show you similar articles from last year, 2 years ago, 3 years, 4 years, even 5 years ! Seriously ... look for your selves.

Personally, I'm wishing really hard for a crash !
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Why exactly would you wish for a crash? I can understand wanting prices to come down. But a crash? That would not be a good thing for a lot of people.

I was a kid during the recession in the 90's. It was an awful time. I would not want to relive that.
 
TheKingEast said:
Why exactly would you wish for a crash? I can understand wanting prices to come down. But a crash? That would not be a good thing for a lot of people.
I was a kid during the recession in the 90's. It was an awful time. I would not want to relive that.
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Yeah i dont get it with certain people wanting a crash...Strange
 
Automation Gallery said:
Yeah i dont get it with certain people wanting a crash...Strange
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You have the ones who want a crash so prices can be more affordable for them. They discount the fact that a crash could result in them losing their job, though.

Then you have the ones who want a crash just so they can say their prediction of a crash was right!!!!

I want prices to drop a bit, but I don't want a crash. I don't want my friends and family members losing their jobs, homes and investments. I don't want to see great projects be put on hold or cancelled. I don't want to see a rise in crime.....I don't want to see mom and pop stores close down. After what the US went through (and is still going through)...people still have the audacity to say they want a crash? Very strange.
 
Well the term "crash" is qualitative, some would equate a 15/20% price correction in a short period of time a "crash".

While I'm sure such a crash will increase the unemployment rate these job losses would be isolated to the development industry and all the services associated with this. Yes there are quite a few no doubt but no not everyone would lose their jobs. You can look at American cities for good indication of what will happen to the job market.

Anyway as much as I wish the market would "crash" I very much doubt it will; Crash in the sense of a 20% price drop over a very short period of time (i.e. a year or two).

Moreover, prices will drop across the GTA in a very nonuniform manner. I expect MCC, NYCC, and parts of downtown to be hit hardest. While some of the more recent "downtown" areas i.e. downtown Markham / VCC to have less impact. I say this as there's little in terms of condo supply in such markets and a lot of job growth in comparison with say NYCC or MCC which essentially sees none.
At the same time the housing market (i.e. non-condos) will react quite differently as well, in sought after areas in the core I expect the housing market to be fairly resilient but less so in the suburbs.


Another misconception, a "crash" or "boom" really does little when one already owns in the market and is not willing to move far to areas where prices have fluctuated differently. Of course, for most, carrying a $200,000 mortgage is much easier then a $400,000 dollar one and that's where a crash helps.
 
TheKingEast said:
You have the ones who want a crash so prices can be more affordable for them. They discount the fact that a crash could result in them losing their job, though.

Then you have the ones who want a crash just so they can say their prediction of a crash was right!!!!

I want prices to drop a bit, but I don't want a crash. I don't want my friends and family members losing their jobs, homes and investments. I don't want to see great projects be put on hold or cancelled. I don't want to see a rise in crime.....I don't want to see mom and pop stores close down. After what the US went through (and is still going through)...people still have the audacity to say they want a crash? Very strange.
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Well, more likely than not, job losses might likely preceed any sudden crash in the housing market. A crash would be a symptom of something else, and not a cause. A condo market crash will not cause wide-scale job loses in the overall economy - with the exception of the building trades. The only way such a condo-focussed crash could occur is if investors suddenly pulled out of the market en-masse.

Barring some kind of large-scale international economic crisis, the likelihood of a "crash" is low. If foreign investors start gradually pulling out of the market, it will soften. Prices can only go so high before people become more reticent and start renting all the investor inventory. More likely, we will likely see softening of the market and a reasonable price correction, but nothing too radical.
 
since this appears to have been my doing, i'd like to issue an immediate retraction: there will NOT be a crash and this project will NOT take 10 years to be built.

in all seriousness though, i wasn't referring to a market meltdown, per se, but rather the fact that this is a tough project in an even tougher location. i just don't think it will take. the well-located stuff (Massey, Casa II, One Bloor) will be okay in both the short and long term.

my two cents.
 
does anyone have any information on the results of the OMB hearing from May 24th RE: the additional height application?
 
29 June 2012:

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Pic taken Aug 8, 2012

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