Still waiting for the housing bubble to pop 😐

likefunnyuplifting
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How exactly is it going to pop? I feel like we have a systemic supply problem and lots of people (foreign and domestic) with the funds to pay 1M+. The analysis I've seen is that it is in bubble territory but unlikely to ever actually pop, too much demand especially when immigration kicks back in.

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In terms of Toronto proper, the amount of low rise product (detached, semi) is also fixed in the sense that there will be no new product. The only increase in inventory will be in the resale market. That is another supply constraint that puts upward pressure on price. And despite the City’s latest obsession with family sized condo units, the price point for that amount of square footage makes it unaffordable / not an attractive option relative to what money can get you for low rise built forms

Yeah, really agree it’s not gonna pop. And if it does, it’s not gonna be a proper pop, more like a finite deflation.

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Nah - that’ll piss off the main voter base that is relying on their property values to fund their retirement.

The best outcome is probably no growth, just stagnant prices.

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Let’s be honest, the Toronto government will never work that hard for the people 😂. I think all of us wonder what the heck they do with our taxes.

Once they bring in those anti money laundering laws, you'll see it pop. Unfortunately, they've waited so long that the pop might affect more than just real estate.

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Most yeah, but the catch 22 is that on the "Uber Expensive" territory, I'd say that 50-75% is foreign born.
When the money drains, the price goes down (basic supply and demand) all the sudden, you have people thinking that those 5mm penthouse are kinda expensive, and they go down to, say 3mm.
Then those with 3 mm are now seeing penthouses on the price range. And aren't going to want a 30 year old house in a not so nice part of the city, and that my friend, aligned with the 10-20% decrease demand overall, is how it happens.

Will not pop until rates increase, taxes increases, or some random stock/derivative issue arises. Money supply remains widely large and RE/stocks are a protection against future inflation.

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Good one

For many in this thread, with two income, 1M-1.5M is not challenging to afford. The average household income in Toronto is close to $150K, which means affordability of $750K-$1M mortgage. The lower end of detached seems to continue increase. But don’t know if Many will be comfortable to have a big mortgage

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