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 homestay.com, like me.
The dog was in the other room. :)