Sunday, January 6, 2019

Toronto Housing Crash

We have to call this a crash.  House prices down 22%.  Condos down.  Everybody is waiting for Spring.

ps.  You can't 'deny' the squiggles!  But there is good physics behind this, as well.  These bubbles are always created by the tremendous need to launder money.  If a guy from the Red Army wants to settle in the world, he can say all his money came from Toronto real estate, and not slave labour.  If you look north of Toronto, you can see hundreds of cookie-cutter warehouses under construction.  Do you think we'll need them in the age of ammie?  No, they'll be empty forever, but right now they are flipping furiously.  Where will this money go next?

pps.  Look to them getting out of the market by bribing the media to push the 'hot market' of warehouse investments.  :)

more:  look to everybody and their dog listing rooms on, like me.

The dog was in the other room.  :)


Penny said...

I think we're lagging on the crash here in Niagara, but, it will come.
I'm suspecting later this year for us. Late 2019.
Just one or two more interest rate increases and that should be it

Penny said...

Oh yeah and BC is way down.

Harold Asmis said...

The outlying areas will take a while. I'm thinking Milton, Niagara, and even Huntsville. They were fueled with Toronto money. My son was telling me of the heavy speculation in Grimsby. They were all stoked by the chance of the Go train coming there. These are all things invented by the prime speculators to offload their positions. I said the back of the beast was broken a year ago last November, when the Chinese money was stopped. But I looked at the charts, and multiplied sales by prices. Money was draining out at a horrendous rate for the year before that. But the media won't declare a 'crash' until people start walking away. Then the banks will be hit. For now we all in the Hindenburg, waiting for that match. :)