{ "media_type": "text", "post_content": "Has anyone bought a property recently in downtown Toronto? I'm running the numbers with my GF and can't seem to make the numbers make sense...the returns are slightly higher than inflation in our various scenarios (~4%). Not sure how it makes financial sense to buy here...\n", "post_id": "60c21549b4149900271cbc5c", "reply_count": 3, "vote_count": 4, "bowl_id": "5a39a495c07c9e0013c9eac8", "bowl_name": "Toronto Consulting ", "feed_type": "bowl" }

Has anyone bought a property recently in downtown Toronto? I'm running the numbers with my GF and can't seem to make the numbers make sense...the returns are slightly higher than inflation in our various scenarios (~4%). Not sure how it makes financial sense to buy here...

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It’s a leverage / tax free if primary residence play.

Would be happy to discuss the different model elements, but basically you’re paying 20% [and getting a secured loan for 80%] on an asset that has appreciated at 10-20% p.a. for the past few decades.

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Also, it makes less sense now that condo market has largely recovered. Last year (or even earlier this year), there was a 10% -15% dip with high inventory due to the pandemic

Depending on their timeframe (8 to 10 years) it can still be worthwhile. Like all markets, short term pricing is cyclical but over the long term, growth is continuous - in the GTA. The same can be said for stocks but housing is attractive due to primary residence exemption, leverage and the side benefit of having a roof over your head.

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