Toronto, world class city
Updated
average income of 60k
ontariosunshinelist.com/inflation although it seems lots of people are doing well, inflation is the reality, and this year is going to be THE WORST for cpi #'s-
total #of people remaining on the list peaked in 2020- "but but muh trickle economics is clearly working!"
-people- aren't buying 3 mil homes and 2 mill condos in Toronto, credit, and BOMAD down payments are the source, rates just went up after we asked a bunch of 20 yr olds to leverage themselves to get into the (housing/stonk) market last year "cause it only goes up"
builders have begun threating to stop building weeks ago as they don't see profits in their builds.
127 foreclosures currently listed on classifieds from a quick google search
and the worst of all- housing bros 1000x worse than crypto bros. - some indications of exuberance.
most of this market is based on home value and banking (home value leverage)- multiple properties owned by singular investors, rent is ramping up to compensate as no one wants to buy- and renters are responsible for mortgage payments or the bank for presumably forecloses on you in 3 months
buyers are likely waiting out value corrections and the next possible rate hike to utilize a better down payment percentage from the sale of their overvalued home if they haven't bought by now.
ontariosunshinelist.com/inflation although it seems lots of people are doing well, inflation is the reality, and this year is going to be THE WORST for cpi #'s-
total #of people remaining on the list peaked in 2020- "but but muh trickle economics is clearly working!"
-people- aren't buying 3 mil homes and 2 mill condos in Toronto, credit, and BOMAD down payments are the source, rates just went up after we asked a bunch of 20 yr olds to leverage themselves to get into the (housing/stonk) market last year "cause it only goes up"
builders have begun threating to stop building weeks ago as they don't see profits in their builds.
127 foreclosures currently listed on classifieds from a quick google search
and the worst of all- housing bros 1000x worse than crypto bros. - some indications of exuberance.
most of this market is based on home value and banking (home value leverage)- multiple properties owned by singular investors, rent is ramping up to compensate as no one wants to buy- and renters are responsible for mortgage payments or the bank for presumably forecloses on you in 3 months
buyers are likely waiting out value corrections and the next possible rate hike to utilize a better down payment percentage from the sale of their overvalued home if they haven't bought by now.
Note
-149 foreclosure listings-Note
171 foreclosure listingsNote
159Trade active
a bit late to the party, lets see what happens nextTrade active
sold some more, delta shiftingTrade active
tsx swerving spy on retail gainz, seeing the slight corretion. im still holdingNote
137 moving with the market,upon further inspection of the listings over the week we can see buyer offers reduced, as a share of volume of listings has now dramatically changed from last week, the same homes are reentering the market as deals fall thru,
131 sell offers and 4 buy offers
keep in mind this was a "red hot" housing market for 20 years, listings wouldn't last a day on the market last year, waived inspections on top of 100k over asking was typical.
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