Bubble bust in Toronto ?

[ConcordiaSalus]

http://ici.radio-canada.ca/nouvelle/1048593/baisse-ventes-immobilier-toronto-juillet-2017

Une autre baisse des ventes de maisons à Toronto

PUBLIÉ AUJOURD'HUI À 7 H 50 | Mis à jour il y a 33 minutes

Maison à vendre à Toronto Photo : La Presse canadienne/Darren Calabrese

Le nombre de propriétés vendues en juillet dans la région torontoise a chuté de 40,4 % par rapport à la même période l'an dernier, indique la Chambre immobilière de Toronto (TREB).

La baisse était particulièrement marquée dans le secteur des résidences unifamiliales.

Ces nouveaux chiffres semblent montrer un certain essoufflement du marché immobilier dans la Ville Reine. Déjà en juin, les ventes étaient en baisse de 37,3 %, rapportait TREB.

Du côté des prix de vente, l'indice des prix MLS demeurait en hausse (+18 %) le mois dernier comparativement à juillet 2016, mais, par rapport à juin dernier, un vendeur aurait obtenu en moyenne 4,6 % de moins en juillet 2017 pour sa propriété.

Les prix de vente sont en baisse, en fait, depuis l'annonce par le gouvernement provincial, en avril, d'une série de mesures pour freiner le marché, dont une taxe de 15 % sur les acheteurs étrangers.

Selon TREB, les acheteurs étrangers forment une petite proportion de l'ensemble des acheteurs. La dégringolade des ventes est plutôt liée, estime la Chambre immobilière, au nouveau comportement de bien des acheteurs potentiels qui attendent de voir comment va évoluer le marché plutôt que de se précipiter comme dans le passé.

[andre md]

It's ironic Montreal is growing and Toronto is crashing. 

The ball is on our side. 

 

[GDS]

Prices are still up 18% year over year. It is at the point now that even if prices fell 50%, if you bought 5 years ago you would still be ahead. 

[SKYMTL]

40% less sales but if you read the whole report, that's because there are substantially less homes on the market.  It has nothing to do with a crash wherein stock is sitting there not moving.  Houses are still being sold at record speed and above asking price.  Additionally, due to limited stock, prices are even higher.  

That's not a crash in any way.  That's a VERY bulish market.  

[andre md]

11 minutes ago, SKYMTL said:

ng price.  Additionally, due to limited stock, prices are even higher.  

That's not a crash in any way.  That's a VERY bulish market.  

Bulish market maybe but it's gonna kill the market because people can't buy or rent. Vancouver is becoming a dead place because of that. Toronto would feel the same kind of pressure.

Peoples don't put their houses for sale because they don't know if they could find something else. 

Montreal having way more apartment available and house for sale. That's a win win for Montreal.

If you are a young student or a couples where are you gonna go? Vancouver no. Toronto no. Montreal having a good chance.  

We are the Berlin of Canada . 

[andre md]

42 minutes ago, GDS said:

Prices are still up 18% year over year. It is at the point now that even if prices fell 50%, if you bought 5 years ago you would still be ahead. 

Year over year July 2016-2017  5% price increase not 18%.  A 40% less sales resulting a lot less money on the market for realtors ,a big drop of revenu for Toronto from transfert taxes (taxes de bienvenue) and name on .

http://business.financialpost.com/real-estate/toronto-home-prices-in-record-monthly-drop-as-sales-plunge-1/wcm/1b276698-c8b0-4cb9-a5a6-522557f062fe

Better to even get 0% price increase and more volume of sales  isn't ?

Some mathematic could show it. 

Je monte le prix de mon café de 18% mais j'en vend 40% moins. Un calcul rapide me dit que c'est pas une bonne nouvelle. 

 

 

[p_xavier]

12 minutes ago, andre md said:

Bulish market maybe but it's gonna kill the market because people can't buy or rent. Vancouver is becoming a dead place because of that. Toronto would feel the same kind of pressure.

Peoples don't put their houses for sale because they don't know if they could find something else. 

Montreal having way more apartment available and house for sale. That's a win win for Montreal.

If you are a young student or a couples where are you gonna go? Vancouver no. Toronto no. Montreal having a good chance.  

We are the Berlin of Canada . 

J'aimerais savoir le pourcentage d'étudiants McGill/Concordia qui demeurent à Montréal au lieu de revenir à Toronto, et de comparer il y a 5 ans.

[andre md]

6 minutes ago, p_xavier said:

J'aimerais savoir le pourcentage d'étudiants McGill/Concordia qui demeurent à Montréal au lieu de revenir à Toronto, et de comparer il y a 5 ans.

Si ils reviennnent a Toronto ils vont habiter chez papa et maman. 

http://business.financialpost.com/real-estate/toronto-landlords-swipe-right-as-rents-near-hipster-brooklyns/wcm/4344b0c3-1a12-40f7-a3bd-504cb580beb5

[andre md]

32 minutes ago, mark_ac said:

Toronto's GDP is expected to grow a full point above Montreal's for 2017.

A full point mean's Toronto is adding $5 Billion more to its economy than Montreal this year via GDP growth.  It's not fair to say that Toronto is not growing and Montreal is all of a sudden some kind of rockstar. Simply untrue.

40% less sale of real estate that's a lot of money.  Millions of dollars if not billions.

Quote

Real estate now accounts for a bigger portion of Ontario's GDP — at 13.2 per cent — than manufacturing, at 12.1 per cent.

http://www.cbc.ca/news/canada/toronto/ontario-economy-provincial-economic-growth-forecast-1.4131428

Maybe the expected 1% growth over Montreal wont be there. 

Look even the pax at the airport is growing faster in Montreal than Toronto. 

Tengo ganas de ver el final del ano. 

 

[Rocco]

Its 1989 all over again! History doesn't always repeat itself but it often rhymes..