Absolutely...boom or no boom, condos are anyways not good investment be it owned and given on rent. You know it yourself.

Now TREB telling about online listing...yeah it is TREB who is telling you that...Did this come from police record....

what about the condo in hot location ? in downtown area or square one or near some college where demand is ever growing ? !!?... many factors drive price war.

In the case of condos in Toronto, as other posters have mentioned, hotness of location matters. However, condos in Toronto, especially in trendy downtown neighbourhoods, have a special problem with regards to building material.

The glass used as exterior is supposed to be much flimsier than originally envisioned. As a result most downtown condos will need to spend huge amounts for repairs in the near future in order to maintain their RE investment's value.

Otherwise, IMO, downtown has the verve and energy unmatched anywhere else in Toronto. Don't know how it is in other downtowns. I heard old quarter of Montreal is now becoming very trendy as well.

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Originally posted by ashedfc

Absolutely True, hot location is the most important criteria..
That's exactly why its recommended to "buy a condo in Noida, NCR"
not in downtown Toronto or Mississauga Sq One.

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Quote:

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Originally posted by bhootnath

Quote:

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Originally posted by ashedfc
Absolutely True, hot location is the most important criteria..
That's exactly why its recommended to "buy a condo in Noida, NCR"
not in downtown Toronto or Mississauga Sq One.

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Man...talk practical..buy Farmland, foreclosed house, grow-up house..condo in Noida, Condo in Beijing...land on moon....
I know "no pain no gain" but if I need a house here why would I buy it in Noida....Moreover who is going to manage that if I buy it as investment...

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Very good analysis by "The American" on Garth's blog.

1. Average down payment for Canadians is now only 7%, while Canadian household debt:income ratio sits at 153% and rising. At the peak of the American housing bubble, the average down payment was actually 11%, and American debt:income ratio peaked at 149%. Today in the U.S., the AVERAGE down payment is 27% and the debt:income ratio is at 138% and dropping. I’d say Canada has some serious soul searching to do right about now, and it is time to look the situation in the eye and confront it.

2. Canadian banks have been anything but “conservative.” In fact, just the opposite is true. Canadian banks have been the biggest offenders of subprime lending in the entire G20. They were only late to the game, and they’ve done a great job of snowing the Canadian masses by making the false claim they aren’t subprime lenders. Truth is, IMF and most other global institutions and analysts now recognize this for what it is. Lending on 3%-5% down on rates that reset every 5 years to anyone who wants the money (and I do mean ANYONE, including cab drivers in Vancouver who have bought TWO $500,000 condos) is the very definition of “subprime” whether you want to call it that or not. The only difference, is this is how the Canadian banks have lent to over 80% of the Canadian population over the past five years. Subprime lending was for about 30% of the aggregated loans made in the U.S. You say tomato, I say piss off and get informed.

3. This constant position, stating that Canada has full recourse loans is the most ridiculous *logic* (or lack thereof). Canada also has areas where there are not full recourse loans as well. Here is the fact of the matter… In the U.S. there are only 12 states that are non-recourse (Alaska, Arizona, California, Connecticut, Idaho, Minnesota, North Carolina, North Dakota, Oregon, Texas, Utah, Washington State). 38 states, 1 district (D.C.), and 1 territory (Puerto Rico) are FULL RECOURSE. Some of the hardest-hit real estate in the U.S. were in RECOURSE states, including Florida, Hawaii, Illinois, Michigan (eh hem, Detroit), Virginia, Washington D.C., Maryland, and New York. So, please stop using this pathetic recourse vs. non-recourse argument as if it is going to save real estate from the inevitable. If you do not know what you’re talking about, then try not to speak so authoritatively about it.

4. The reasons in the propaganda piece stating “We [Canadians] tend to seek more conservative lending options” is the most laughable line of all. Conservative lending options do not include over 95% of a population on mortgages that reset every 5 years with an average of only 7% down, such as is the case in Canada. Again, its subprime, subprime, subprime. If you prefer we call it “fun-time-happy-sunshine-rainbows-and-lolipops lending,” we can call it that too. It won’t, however, change the end results. It is so over and there will be no soft landing.

1. If people are keeping away from house buying, demand for rental properties will increase -> Rent increase -> people buying places to rent out!

2. Recently got a re-zoning notice for the farm lands near my place from the city. Will be builders be investing so much, if the real estate market is so fragile? Don't they have lots of analysts to do their research?