Toronto Sixty Colborne Condos | 82.29m | 25s | Freed | a—A

I don't read the Greater Fool. I do follow GT on twitter because his tweets (always linking to his latest post) are hilarious--the man is a great writer. Don't read his words literally but just as entertainment.

When sentiment turns, it can be an interesting time. Imo sentiment has changed. Didn't you read the August 2012 presales stats?
 
August pre sale stats? Sales are down.....and prices? Well, they're not.

It's pretty clear the largest builders (Tridel, Plaza, Empire, Concorde etc) are holding back projects and supply.

Rents are going up (it's actually crazy what ppl pay to rent in downtown)....as supply is absorbed more projects will be released, but much slower than in the past. And as long as the don't ask stupid prices (like econdos), they will be easily absorbed and prices will not "crash". Just won't happen.
 
urbandreamer said:
Price always follows volume. It's the LAW. If volume doesn't significantly recover, prices will collapse.
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You're probably the most negative poster on this site. You've commented negatively on even concrete work and excavation sites! So I don't expect anything positive from you.

Don't invest, don't buy and don't put any cash (if you have any) into the game. Just stay on the sideline being overly critical while others make money (plus your posts keep me amused so keep them up). A smart investor makes money at any point of the cycle. At the height of the condo boom even a chimp could have made money.....but from now on, only smart people will.

You've read too much Garth Turner.....but while he's telling you the market is crashing (or going to crash) he's putting money into the real estate market.

Prices in the GTA will not "crash". But for the record, in % terms what does a "crash" mean according to you?
 
urbandreamer's deep analysis and crystal ball predictions are based on twitter traffic. That should say enough.
 
The realtor's report at my building's AGM tonight indicated that it is 75% sold. Take with as many grains of salt as you like.
 
Why anybody would fight this is beyond me. Tallest building in the country is two blocks away, subway and Union Station are nearby and an awful parking would bite the dust adding tremendously to the neighbourhood. Certainly not so tall that it would stand out here.
 
The base is great, and could add to the street-scape. However, the tower is very forgettable. If I was in the area I would be fighting the close to 1/3rd (about 90 units) around 400sq.ft. I think there was only 1 or 2 layouts that looked decent. This building is really driven to investors and not end users. Small unit sizes, boring tower, FREED quality. I would not cry over losing this building.
 
AndreaPalladio said:
The realtor's report at my building's AGM tonight indicated that it is 75% sold. Take with as many grains of salt as you like.
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As of Feb, 2013 they are 67% sold...which may seem slow considering that it went on sale March 2012...but to me it seems "normal" and certainly not any indication of a "crash". The units are small and the price psf high, but this will get built and I'm looking forward to it rising. The views overlooking the church will be fantastic. Great location...As long as you don't mind church bells ringing and the sound of the street car ;)
 
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Did this get approved yet though ?
 
I visited the sales centre last week and an agent told me it was 65% sold. They still have a long way to go at this rate. I totally forgot to ask if it was even approved, good question taal!!

TOCondoGarden said:
As of Feb, 2013 they are about 70% sold...which may seem slow considering that it went on sale March 2012...but to me it seems "normal" and certainly not any indication of a "crash". The units are small and the price psf high, but this will get built and I'm looking forward to it rising. The views overlooking the church will be fantastic. Great location...As long as you don't mind church bells ringing and the sound of the street car ;)
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^I updated my post for your info and to be very specific at 67% sold (187 units of 280) rather me stating "about 70%". Sorry that I was off by 9 units. Hope that helps to rest your mind that the real estate agent was telling you the truth.
 
taal said:
Did this get approved yet though ?
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How long does it take to make an appeal decision at the OMB. DSC stated that the developer went to them in mid December, so I'm thinking they should have their approval fairly soon? I can't see the OMB rejecting the developer's appeal as 25 and 11s is very reasonable given the context of the location. I still find it odd and concerning that the city rejected the proposal in the first place. Now that Kathleen is premier, it is starting to seem more and more likely that the city becomes OMB-exempt. If that happens, we'd have overzealous, power hungry councillors denying everything in order to appease NIMBYs and gain votes.
 
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