#10661467 - 01/09/25 11:31 AM
Re: dat real estate v.2021
[Re: LNXGUY]
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Simon_the_Pieman
Post Master Sr
Registered: 08/13/01
Posts: 9515
Loc: The A
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I gotta renew in May, I'm still thinking variable.
i think the next 3 announcements before then will tell us a lot.
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020
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#10661633 - 01/09/25 05:37 PM
Re: dat real estate v.2021
[Re: Simon_the_Pieman]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 108257
Loc: Barrie, Ont,
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True. Let's see what happens.
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-Bill The GN would OWN you, your children and your children's children. Left foot, right foot, just keep moving!!! -Jeffrey P. Murphy 
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#10661668 - 01/09/25 07:27 PM
Re: dat real estate v.2021
[Re: LNXGUY]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26924
Loc: Toronto, ON
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I gotta renew in May, I'm still thinking variable.
Variable.
You should be able to get -0.9 to -1.0 on uninsured as of today. Makes zero sense to go fixed. Economy only getting shittier with each month lol
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#10680562 - 03/09/25 06:47 AM
Re: dat real estate v.2021
[Re: furball]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9572
Loc: Toronto, ON
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#10680643 - 03/09/25 04:59 PM
Re: dat real estate v.2021
[Re: Risk E. Business, esq.]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9572
Loc: Toronto, ON
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#10680676 - 03/09/25 09:50 PM
Re: dat real estate v.2021
[Re: furball]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45591
Loc: Raptors Land
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Are we ever going to get back to the $350 / sq ft condos? 
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#10680924 - 03/10/25 03:58 PM
Re: dat real estate v.2021
[Re: Risk E. Business, esq.]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45591
Loc: Raptors Land
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Will probably bottom out at 800 psf for good stock in the core for resale. At that price and rent things start to cashflow. Precon is dead though, always thought it was just a matter of time before people catch on. How can someone pay $1,600 PSF when comparable resale is 1,100 (this was during the peak). Now resale is in the 900s, precon launches at 1,300 psf can't get off the ground. RIP
The days of buying a condo to rent out and having the value appreciate is over.
Would be nice to have a property paid for when the kids are older but don't think the math works anymore.
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#10681133 - 03/11/25 10:37 AM
Re: dat real estate v.2021
[Re: Risk E. Business, esq.]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26924
Loc: Toronto, ON
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Yep, seems like purpose built rentals are the only builds getting financing so it's the only choice.
Yup for those companies that cannot tie up capital, this is their only choice.
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#10681135 - 03/11/25 10:44 AM
Re: dat real estate v.2021
[Re: A2B-Lexus]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26924
Loc: Toronto, ON
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Will probably bottom out at 800 psf for good stock in the core for resale. At that price and rent things start to cashflow. Precon is dead though, always thought it was just a matter of time before people catch on. How can someone pay $1,600 PSF when comparable resale is 1,100 (this was during the peak). Now resale is in the 900s, precon launches at 1,300 psf can't get off the ground. RIP The days of buying a condo to rent out and having the value appreciate is over. Would be nice to have a property paid for when the kids are older but don't think the math works anymore.
Don't worry. May happen again once BOC is down to 2% and condo supply is even higher. 65% of current listings on MLS are condos LOL
But the underlying problem is the maint. fees. Those have skyrocketed in the past few years and will continue.
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#10681191 - 03/11/25 12:15 PM
Re: dat real estate v.2021
[Re: furball]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26924
Loc: Toronto, ON
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I drove around Major Mack in Markham over the wkend ....
Looks like there's movement on the north side of Major Mack ... things are being built?
That has been happening since covid.
_________________________
'07 997.1 GT3
'08 E90 M3
'11 E90 d
'02 Rota Grid - 195-55-16FR (RIP)
'04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi)
I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#10681236 - 03/11/25 01:28 PM
Re: dat real estate v.2021
[Re: Hatorade]
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Simon_the_Pieman
Post Master Sr
Registered: 08/13/01
Posts: 9515
Loc: The A
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But the underlying problem is the maint. fees. Those have skyrocketed in the past few years and will continue.
any insight on why? and what (if any) solutions are being put in place to bring them down?
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020
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#10681239 - 03/11/25 01:36 PM
Re: dat real estate v.2021
[Re: Simon_the_Pieman]
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Risk E. Business, esq.
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 46294
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Inflation
Deferred Maintenance during Covid
Investor dominated condo boards that deferred fees until they sold their units
Massive budget misses on replacement at scale, be it risers, glass, etc. An unnamed condo downtown budgeted 20M to replace all glass (full glass tower), actual quotes came in at 60M.
I am interviewing Sally Thompson on my Youtube channel specifically about this, she is one of the engineers behind the Condo Act. It's a fucking shitshow, if you are buying a condo you better know what you are doing and know the buildings because there are some massive dogs.
I've been pretty vocal about this since 2021, there will be a huge repricing of condos in the coming years (it's already starting). You will have units trading at way below median prices and it's because they will be bogged down with these issues, and nobody wants to take on the risk. Couple that with lenders becoming more strict, some banks won't lend on condos if they find the status certificates too mismanaged/at risk.
There is a list of black listed CMHC buildings, those were the no go buildings, but looks like lenders are already looking outside of that. I had a client recently walk away from a very nice unit in a solid building over a small lawsuit (immaterial to fees) where BMO wouldn't fund.
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#10684745 - 03/24/25 09:56 AM
Re: dat real estate v.2021
[Re: furball]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9572
Loc: Toronto, ON
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Random YT hit my feed: Toronto 1 unit to 5 unit multiplex reno wtf
https://www.youtube.com/watch?v=MPhO0OL_tlg
(Talks about how to avoid $200k in development charge fees: first permit to convert to 4-plex, then second permit for 5th unit)
Learned random shit from this vid as well; check out the water lines at 10m5s  ...
Edited by furball (03/24/25 12:01 PM)
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#10685804 - 03/27/25 09:08 AM
Re: dat real estate v.2021
[Re: furball]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9572
Loc: Toronto, ON
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Another vid of the same home. Some more details: https://www.youtube.com/watch?v=sac8bIiKq0M
Random YT hit my feed: Toronto 1 unit to 5 unit multiplex reno wtf https://www.youtube.com/watch?v=MPhO0OL_tlg(Talks about how to avoid $200k in development charge fees: first permit to convert to 4-plex, then second permit for 5th unit) Learned random shit from this vid as well; check out the water lines at 10m5s ...
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#10687812 - 04/01/25 07:08 PM
Re: dat real estate v.2021
[Re: furball]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9572
Loc: Toronto, ON
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#10697066 - 05/02/25 11:02 AM
Re: dat real estate v.2021
[Re: Senor Eduardo_82]
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Risk E. Business, esq.
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 46294
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Unless it's a condo downtown, the sky isn't falling, but shit isn't unicorns and rainbows either.
Put another way, if you don't have to sell in this market, don't. If you have to sell, you have to put money into presentation/marketing or you are going to sit.
Active/new listings are above seasonal norms, but that's because there are 3x+ more condos, so that skews all the metrics. In the most areas the market is relatively stable, but it's a buyer's market for sure. I think the worst was the last 3 months, since Trump took over we set some of the worst metrics in GTA RE in the last 20 years. Seems like things are improving on the ground floor, but still a shitty time to be a seller.
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