Toronto housing market slide slows in February

[Chromeboy007]

i would guess that you are about 2-4 years early on this prediction. re corrections don't happen in quarters, they take years.

and there is no shortage of rentals (good or otherwise) available.

True of course, but I was referring more to the economy is general than just real estate alone.

I live in an apartment building downtown and over the last several months I notice more and more vacant units. For the benefit of all of us I sure hope I'm right about the worst being over.

 

[DarnDirtyApe]

My wife and I just got a lease on a rental condo, and I can verify that there are a ton of units available for rent. The problem is that most of them are under 700 square feet and not suitable for two people, while the owners expect rents around $1500-1600.

There are certainly lots of places being leased, but based on current condo sales prices and rents there is no way owners can expect a reasonable return on their investment.

 

[cabbagetowner]

i suspect rents will come down. a couple of things i've had to do/deal with which i wouldn't have a couple of years ago: no deposit; rent abatements for a long term tenant; new appliances; short term leases. low teaser rent rates to lock down commercial tenant for long lease; late rents.

condo and commercial landlords will have a very tough time in the next couple of years.

 

[urbandreamer]

Main street landlords are lowering rent along Queen West, Queen East etc--first time in a decade?--in an attempt to keep the vibrancy of the strip.