Drastic drop in condo sales amid record listings in GTA

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Drastic drop in condo sales amid record listings in GTA

Рет қаралды 19,001

Күн бұрын

The number of condo units for sale in the GTA have hit record highs but buyers are not biting. Shauna Hunt with a look at why the market appears to be flatlining

Пікірлер: 109

@wondereagle Ай бұрын

$ 700,000 for 500 square ft is crazy.

@mischa1880 Ай бұрын

Plus the high condo fees.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@peej91 Ай бұрын

Now people are starting to realize it 🤣

@oldskool1979 Ай бұрын

They are all rentals... oversea smoney scooping these units up.

@Dave-gy5mv Ай бұрын

Condos, the 21st century equivalent to trailer parks.

@shauncameron8390 Ай бұрын

Condos are to cities what trailers are to rural areas.

@tcsnowdream9975 Ай бұрын

Still better than the trash who live in SFH lol.

@berrex5152 Ай бұрын

Only condos are socially accepted

@jody-ne7xs Ай бұрын

@@berrex5152condo's for slaves!

@jody-ne7xs Ай бұрын

@@berrex5152nah it's Canada, Tents all the rage and stylish these days.

@Macky1101 Ай бұрын

"If you're a buyer out there, it's amazing for you". Really? It's amazing for me to pay $700,000 for a 500 sq ft shoe box? I am sure it'd be more amazing for the seller who paid $150,000 for it 5 years ago.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@Peter-sz1sn Ай бұрын

Exactly! Most of these people are absolutely clueless!

@keikairin2038 Ай бұрын

The problems is the maintenance fees. They are too high for the lack of repairs in the building. Its very obvious the Condo board steals from their community of neighbours and mismanages funds.

@stoneneils Ай бұрын

Condo fees are so funny...if you don't have to pay them. I worked for an investment firm who bought condos in toronto...wow....the monthly fees in the early 00s were HALF the rent i pay today!!!

@keikairin2038 Ай бұрын

@@stoneneils A lot of scammers condo boards put on 'television services' as a means to farm fees. If it costs 90 bucks to pay for the service yourself why is the board asking owners for 200 for this? This money very clearly does NOT pay for television services.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@keikairin2038 Ай бұрын

@@mazedar_tv Be like the Canadian community. Refuse to buy. Blockade the profiteers from making profits on garbage. No point supporting greedflation.

@bajcar Ай бұрын

Condos = appartments that you buy, but still have to pay rent to 😅 I'm missing something right?

@adamgibson473 Ай бұрын

Equity

@bajcar Ай бұрын

@@adamgibson473 what's fair and just about asking someone for a lot of money, so they can rent out their own apartment to themselves? Doesn't sound very equitable to me.

@stoneneils Ай бұрын

If you're talking about condo fees...BINGO!! lol....i have been warning people for twenty years.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@bigpurplepops Ай бұрын

@bajcar That's how buying with any mortgage works. It's how your parents bought the house you're staying in.

@bdawg333 Ай бұрын

Here's a tip: drop the prices. People are ridiculous.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@peej91 Ай бұрын

Prison style condos duh

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@Peter-sz1sn Ай бұрын

Wait until prefab units save the market - haha. "chicken coups for the masses"

@doinitforfun888 Ай бұрын

Prices and maintenance fees are way too high. People are working two jobs just to survive as wages are not increasing. Condo market is saturated especially the units under 700 sqft.

@stoneneils Ай бұрын

And the rooms in those condos are TINY..i had 120 sets of keys...maybe TWO units were liveble without banging into the walls all day.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@jody-ne7xs Ай бұрын

Rents need to go up in toronto. Hige losses of 50% coming. Do not buy yet. Most about to lose homes.

@sazzadbhuiyan3490 Ай бұрын

Buyer beware.....😮😮 Don't buy condo for at least 2 years. Price is going to drop over 30% from now 🎉🎉

@Eric-lx8hp Ай бұрын

I’m ready for rollback to 2008 prices where I can actually afford something

@Lifeisapartydresslikeit 18 күн бұрын

You probably still won’t be able to afford it. People are always saying if it was 10% less, 20% less, 50% less. If you can’t afford it today and you couldn’t afford it 5 years ago or 10 years ago - you’ll always complain about the price. It sounds harsh but it’s reality. If anything drops 50% EVERYONE will buy it - still leaving you on the sidelines because you’ll always be thinking about a price drop just as you are now. 2008 prices will never come back. Sorry

@Chris-se3nc Ай бұрын

This guy obviously does not come to the city on Mondays and Fridays. Hybrid work is here to stay

@Peter-sz1sn Ай бұрын

Ryerson University - with a new name. What would you expect?

@pipefitter6666 Ай бұрын

Duhh ya dont say thats what happens when ya vote trudeau in 3 times

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@matthewodette1406 Ай бұрын

Almost all the buildings put up in the past 10 years are complete garbage. I know someone who was putting down flooring in many units (new immigrant, 15/hr cash, zero experience). Condo fees will go through the roof as these buildings age and all the problems are discovered. Future slums selling for 600k is literal insanity.

@andrewillomitzer3711 Ай бұрын

Yes shoebox condos not built for living in. I wonder why nobody wants them.

@mazedar_tv Ай бұрын

I am trying to buy from last 3-4 months, I dont like anything. bl@@dy shoebox rathouse everywhere

@oddlyoaktree Ай бұрын

I wouldn't hate living in a condo per se, the problem is that the only condos getting built are glorified closets! So long as there aren't affordable multi-bedroom units, people are NOT going to return to the city. They'll leave the country before sharing a one bedroom with their partner and kids!

@Peter-sz1sn Ай бұрын

Over the last 15 years, developers were not building condos for people to live in - they were building condos for investors who were looking to flip them for a quick buck. Those time are gone. Time to reflect and adjust. And for many people, to loose a ton of money .. just like many have made a fortune with the quick scheme over the last 15+ yrs.

@mischa1880 Ай бұрын

Condos are a problem because people will have no money for mortgage payments plus the condo fees.

@nonasmith2405 Ай бұрын

Good prices will go back down to where they should be

@maxben565 Ай бұрын

Future slums

@southhillfarm2795 Ай бұрын

Lol!! The “crash” will not be temporary, the prices will continue To drop even if interest rates continue to drop.

@stephenfermoyle4578 Ай бұрын

oh look another AGENT talk talk talk you interview the same 2 people ALL THE TIME

@rafial81 Ай бұрын

The bubble has started, enjoy living these tiny pocket size homes

@jacksprat9896 Ай бұрын

Did she actually say if you’re a buyer it’s amazing for you.

@bigpurplepops Ай бұрын

"Cookie cutter and not that interesting" is real-estate agent speak for "unlivable" or "intended for investors".

@TurningoffyourGaslights 20 күн бұрын

And all these empty condo towers...is the vacant home tax applied to them? Or is that just applied to seniors, to shake them down and force them out of their own homes because they didn't or forgot to or didn't understand and fill out a declaration?

@TBA-zv9qt Ай бұрын

Don't worry, the money launderers will come back 😂😂😂😂

@user-yw9tr3kq4s Ай бұрын

Yes, cutting mortgage rate from 7% to 6.5% this year will be a HUGE relief for most house flippers. Imagine, now they can save $100 per month.

@Megafoot2164 29 күн бұрын

There is hardly a day that goes by without the Canadian media report’s on residential real estate. Once the domain & last bastion of the working class. It’s now reported on, much like the stock market.

@pipefitter6666 Ай бұрын

NOW HE GONNA GET YAS ON CAPITAL GAINS ON TOP OF IT ALL!!! GO WOKE GO BROKE TORONTO YA SHOULD LISTENED LOOKS AWESOME ON YAS ALL

@ynwa3573 Ай бұрын

Hopefully housing prices will go down and those investors who messed up the housing market can’t get profit from their house. Hopefully they will be tax more ofr leaving the house vacant

@TML-pm8fz Ай бұрын

Write your MP (a letter, on paper - postage is free) and tell them to start talking again about the negatives of massive immigration.

@62Cristoforo Ай бұрын

Never, ever buy a condo.

@watchdog5678 Ай бұрын

Condo fees Reno's they demand thousands . Amazing how 90 thousand condos and less then 1500 low income homes built since Trudeau Ford got elected.

@williamlloyd3769 Ай бұрын

Buyers are looking at the interest rate risk after the initial loan period is over

@Alvar-hd2tz Ай бұрын

Trudeau's government has destroyed the Canadian dream and made as suffer the worst Canadian nightmare

@PhotoWyzard Ай бұрын

I thought there was a HOUSING SHORTAGE? Love being ZOOMED by Government. This market needs an adjustment... and here it is. Builders will resist and you can be sure the Finance companies will try to stop any crash/readjustment.

@WSBWallstreetBets Ай бұрын

This guy said things will return back in a couple years. Who are these experts you're bringing on the show? I didn't know we can make bold claims years out and claim to be an expert. Just get a psychic palm reader and astrology expert at that point.

@Lifeisapartydresslikeit 18 күн бұрын

Can’t wait for you to wake up! I should come back to this comment by 2027 and see what the price of housing will be. It won’t be lower than it is today and that is a FACT! The man is 💯 correct I. What he is saying!! Real estate will be higher than it is today in 2 to 5 years from now. If you don’t know that you’ll be left behind

@hchalz Ай бұрын

The most effective option is to jack up condo development fees. If the new condos cost $5MM to build on avg, Canadians will be forced to buy whatever is available

@mischa1880 Ай бұрын

5 millimeters?

@Daniel-ol3mu Ай бұрын

Its just a gully.

@almontoya5703 Ай бұрын

This why only buy detached dwelling only! That's where you can make easy money! I have made so much dumb money in the last 15 years from detached dwelling. I love bidding wars

@leonchen89 Ай бұрын

Yep and you can rent each rooms out with combined income double to triple the mortgage payments.

@almontoya5703 Ай бұрын

@@leonchen89 Yeah, you gotta take advantage of the system. Sometimes I feel I'm living in a dream. I just hope they don't add more taxes. I'm glad so many people are relying on their primary residence as their retirement fund. I don't think the government will allow it to crash. It would be a disaster. You have to keep the money machine going.

@rulz2663 Ай бұрын

Let it 🔥

@ohcanadaeh Ай бұрын

Dumb money goes into dumb investment.

@JessT-vg7ib Ай бұрын

We should bring in more immigration into Canada to buy and live in these condos.

@donnicholson3170 Ай бұрын

Hopefully that's sarcasm

@BornRaisedCanadian Ай бұрын

You should bring them all to your house.

@butwhytharum Ай бұрын

They'll just buy to rent out as an investment.

@JonnyZuccs Ай бұрын

Housing is not for investing, the stock market is for investing. Houses are HOMES for human beings ffs. greedy landlords. cut all prices in half!!

@shermantwip7485 Ай бұрын

Ya because their garbage. If you wanna get fleeced this is the move for you. Glad they’re losing their money because they tried to rip ppl off and this is what happens. Love it

@Peter-sz1sn Ай бұрын

Yeah ... we need a university professor to enlighten us on real estate market. No, thank you.

@christopherrichardwadedett4100 Ай бұрын

AI and technological advancement makes big city lifestyles less attractive for a good number of people.

@elterrifico9522 Ай бұрын

It’s all gonna crash. Get outta TO

@billclay9511 Ай бұрын

Sewer

@roadmap999 Ай бұрын

But but Trudeau will save us right???

@zevc3591 Ай бұрын

🤣🤣🤣🤣🤣🤣👍

@freestylefranc2653 Ай бұрын

crash

@derek8564 Ай бұрын

If you want higher prices keep voting liberal/NDP :)

@Yoopsen213 Ай бұрын

It’s shocking how consistently terrible the audio production on this channels vids are. The dialogue is always on only the right channel like… are they going out of their way to ruin these videos?

@stephanienguyen6992 Ай бұрын

Don't Buy, You Don't Need Them.

@DontDelete-fp8oy Ай бұрын

You Don't Need To Capitalize Every Word In Your Comments But You Do

@craigs1437 Ай бұрын

The question is; is Justin Trudeau going to rescue us condo owners?

@FSXXtreme Ай бұрын

Sorry boss Toronto is a dumpster as of 2024, paint the entire city with rainbow colours

@kthekid10 Ай бұрын

day 201 of telling citynews to fix their audio problem

@DontDelete-fp8oy Ай бұрын

Get a life

@tillyburton5402 Ай бұрын

Condos were meant for investors to rent out. No one grows a family in condos. Maintenance fees forever and over priced. I never spent that much a month for up keeping my house. Condos are made for strata companies

@Lifeisapartydresslikeit 18 күн бұрын

Condo’s are made for a start and for retired folks who cannot use the stairs. My first two condos were in 2004 and 2011. I don’t knock condos because they wouldn’t have allowed me to have equity to move to a freehold townhome in 2015 to now a detached home since 2017. I have with a finished basement where I rent the unit out. Same with my friends. Condos to now their detached homes… we aren’t complaining