Friday, July 5, 2019

Toronto real estate limps along

The market is turning down in the hot weather, although the June weather was horrid.  Anyway, it limps, like bitcoin.  My friend is building a house up North in the middle of nowhere.  She sold her Toronto house right away with a 20% haircut over peak.  The buyers were a young couple thinking that a 20% was good.  Meanwhile, you look around and there are endless things being built.

The monster homes are at a 30% cut, and I think they will hit 50%, like Vancouver.  Everything should eventually settle to 20-50%.  In ten years it will start to rise again. 

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