Tag Archives: toronto

Friday Free-for-Fall!

Hey there! Happy autumn to you!

It’s Friday and that means it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

RE economy, no office needed
YOU are the marginal buyer
Homeless millionaire
The last Toronto Bubble
New York and DC losing value
Sunshine coast shift?

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

What do these cities have in common?

Take a look at this list:

Calgary
Winnipeg
Edmonton
Gatineau
Halifax
Hamilton
Oshawa
Montreal
London
Kitchener
Kingston
Ottawa
Quebec
Regina
Saguenay
Saint John
Sudbury
St.John’s
St. Catharines
Sherbrooke
Saskatoon
Thunder Bay
Toronto
Trois Rivieres
Vancouver
Victoria

Know what those 26 cities have in common?

They’re all Canadian for one, but they are also places where house prices have doubled or tripled over the last 15 years.

As special as Vancouver is, it’s apparently not unique when it comes to rising prices.

Thanks to Joe Mainlander for pointing this out, original data source is Toronto Condo Bubble.

Moving up in Vancouver Real Estate? Not so much…

CIBC World Markets has released research that looks behind the average price moves in Canadian real estate. How are prices moving in Vancouver?

Astonishingly enough it looks like properties under the $1.1 million mark have moved less than a GIC in the last four years.  Here’s a graph from the original PDF:

Screen Shot 2014-10-15 at 2.50.16 PM

 

That boggles the mind. Even Toronto which has prices going up at the high end looks like its been a much better investment at the lower and middle end:

Screen Shot 2014-10-14 at 2.38.45 PM

 

So essentially that idea you have in your mind that Vancouver real estate has been a good investment over the last four years with prices just rising and rising? Not so much.

FFFA! Rentals, Repairs, Indexes

Hey it’s the end of another work week!

And if you’ve been here before you know what that means: It’s Friday Free-for-all time!

This when we do our end of the week news round up and open topic discussion thread for the weekend, here are a few links to kick off the chat:

Why don’t you buy already?
Marketing! Buzzwords!
Record debt, but no worries
Include transportation costs
And maintenance costs
Toronto beats Vancouver in crazy?
Vancouver island buyer or seller market?

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Excess of rental units in Toronto and Vancouver?

A new report from CIBC is warning of an excess of rental units in Toronto and Vancouver.

They are basing this outlook on the large number of condos being built in both cities and predict a less than half point rise in vacancy rates, so ‘warning’ sounds a bit strong.

The concern is that increased competition for good renters could drive owners to sell their condos, leading to a further downturn in the condo resales market.

Economists and policy makers have worried that an “increased supply of rental units will flood the market and will lead to a wave of sales by disappointed investors with no bargaining power,” Mr. Tal writes in the report. The Bank of Canada highlighted concerns about the condo market in December when it outlined the key risks to the economy.

“A sharp correction in the condominium market could spread to other segments of the housing market with stretched valuations, as buyers and sellers adjust their expectations of the future path of house prices,” the central bank warned. “Such a correction could also have significant repercussions on the real economy, since the construction sector is an important component of economic activity.”

Read the full article here.