Gotta love Canada!

[InDaMoneyz]

toronot housing market is healthier and stronger than ever. You need to see an almost 50% drop in prices to be back to what market was back in 2008! and thats never gonna happen. Anyone who waited for prices to drop before 2011 and is still doing so is a complete idiot.

Condo marke is definately fragile but land house/land market in toronto? forget about it, it will only go up, and richmond hill will soon beat toronto prices as well! RH is already the most expensive per square footage area in ontario.

but at this point if you have money sitting aside and can afford to buy real estate you should really consider southern florida. Money is coming there from across the globe making that region unaffordable soon. As a canadian you should have a property there anyways.

 

[Bache Tehroon]

toronot housing market is healthier and stronger than ever. You need to see an almost 50% drop in prices to be back to what market was back in 2008! and thats never gonna happen. Anyone who waited for prices to drop before 2011 and is still doing so is a complete idiot.

Condo marke is definately fragile but land house/land market in toronto? forget about it, it will only go up, and richmond hill will soon beat toronto prices as well! RH is already the most expensive per square footage area in ontario.

but at this point if you have money sitting aside and can afford to buy real estate you should really consider southern florida. Money is coming there from across the globe making that region unaffordable soon. As a canadian you should have a property there anyways.

I don't agree about the Toronto housing market, but do regarding Florida.

Toronto housing market is anything but healthy. It's not just about the price-drop or stagnation. It's about the effect of housing on other sectors too. The over-leveraged home-owner in Toronto is having a hard time spending money on other things. With real-estate not being a liquid asset, you can easily see the consequences of this reduced spending all over the city. Small-to-midsize business are going bankrupt left and right because they can't afford the insane rent payments that the owners have to charge to be able to afford their property.

At some point something will have to give, and as always it will be the lower-tiered consumers in the form of house/condo owners.

A single percentage increase in interest will start a scare and although real-estate prices may simply stay put for a while, the economy as a whole will get slower and slower.