The Official Toronto Discussion Thread

[MVike28]

Power of sales and fire sales of homes popping up all over the GTA.

Investors bleeding money on rentals and begging renters to accept increases.

Folk who bought homes in the relatively hot market in 2022 are royally fukked. The numbers are damning, and it will get worse in the fall.

Prayers for the over leveraged and those who lived beyond their means

Don't get me started on pre-construction and those that already put their deposits in, builders cancelling projects and deposits are evaporating.

Seeing all this in graphs is so absurd

Thank God I sold my home 3 years ago, and i'm liquid and renting.

 

[Jefferson Jackson]

 

[MikelArteta]

Power of sales and fire sales of homes popping up all over the GTA.

Investors bleeding money on rentals and begging renters to accept increases.

Folk who bought homes in the relatively hot market in 2022 are royally fukked. The numbers are damning, and it will get worse in the fall.

Prayers for the over leveraged and those who lived beyond their means

Don't get me started on pre-construction and those that already put their deposits in, builders cancelling projects and deposits are evaporating.

Seeing all this in graphs is so absurd

Thank God I sold my home 3 years ago, and i'm liquid and renting.

yup, alot of folks who were smiling when they were making money renting a condo or house are now because the payments aren't covering the mortage anymore.

 

[MikelArteta]

my friend from london uk is visiting I had to show her around yesterday.

I forgot how meh Toronto is, did the waterfront, cn tower/aquarium , yonge and dundas / toronto sign / eatons center, kensington market / china town and she was like what else is there and I was like uh yeah that's really it , you can go to niagara falls.

 

[MikelArteta]

thats great pierre but what are you going to do?
900,000 international students coming in. 450,000 PRs, thousands of refugees. Supply and demand numbnut

 

[jdubnyce]

my friend from london uk is visiting I had to show her around yesterday.

I forgot how meh Toronto is, did the waterfront, cn tower/aquarium , yonge and dundas / toronto sign / eatons center, kensington market / china town and she was like what else is there and I was like uh yeah that's really it , you can go to niagara falls.

Take her to.....Vaughan Mills

 

[MVike28]

yup, alot of folks who were smiling when they were making money renting a condo or house are now because the payments aren't covering the mortage anymore.

Wild thing is if tenant defaults and squats you can’t evict them for a year since LTB is so backed up.

Ppl now doing 60 year amortization periods

 

[Nkrumah Was Right]

Power of sales and fire sales of homes popping up all over the GTA.

Investors bleeding money on rentals and begging renters to accept increases.

Folk who bought homes in the relatively hot market in 2022 are royally fukked. The numbers are damning, and it will get worse in the fall.

Prayers for the over leveraged and those who lived beyond their means

Don't get me started on pre-construction and those that already put their deposits in, builders cancelling projects and deposits are evaporating.

Seeing all this in graphs is so absurd

Thank God I sold my home 3 years ago, and i'm liquid and renting.

Market forces.



The capitalists in this thread should applaud this creative destruction!

 

[MikelArteta]

Wild thing is if tenant defaults and squats you can’t evict them for a year since LTB is so backed up.

Ppl now doing 60 year amortization periods

yup or even if you decide to move back in and file a N12 so backed up by the time you get your place back its like a year plus

the crazy thing its only going to get worse

 

[MikelArteta]

Average first and last is nearly like 5 grand now

 

[Malcolmxxx_23]

Average first and last is nearly like 5 grand now

Quebec just the first month

This country going down the toilet

 

[MikelArteta]

Market forces.



The capitalists in this thread should applaud this creative destruction!

Yup, my friend also asked if I'd advise people to move to Toronto. And I flat out said nope. It's crazy expensive and she is like so is london.

But then i said you can live a hour or two away from london and its dirt cheap and you can get into town on the tube or a rail easily. She's staying at an airbnb in missisauga and she realized how hard it was for her to just get downtown toronto by transit.

 

[Patrick Kane]

my friend from london uk is visiting I had to show her around yesterday.

I forgot how meh Toronto is, did the waterfront, cn tower/aquarium , yonge and dundas / toronto sign / eatons center, kensington market / china town and she was like what else is there and I was like uh yeah that's really it , you can go to niagara falls.

City really is a joke in terms of the vibes and things to do. The most you could’ve squeezed in was MAYBE going to Woodbine Beach which is also mid

I was in NYC and LA this summer and it’s unfair to compare those to Toronto but just the sheer beauty, size and “things to do” in each of those cities make Toronto a complete joke.

 

[jdubnyce]

She's staying at an airbnb in missisauga and she realized how hard it was for her to just get downtown toronto by transit.

Yup
Ridiculous
Have to take mississauga transit
Transfer at a hub, ttc station
Jump on subway, bus

Probably takes at least an hour to get from eastern most mississauga to union by transit

 

[Malcolmxxx_23]

City really is a joke in terms of the vibes and things to do. The most you could’ve squeezed in was MAYBE going to Woodbine Beach which is also mid

I was in NYC and LA this summer and it’s unfair to compare those to Toronto but just the sheer beauty, size and “things to do” in each of those cities make Toronto a complete joke.

Nyc in the summer

Just Manhattan alone >>downtown Toronto
Central Park
Uptown
Midtown
Lower manhatten
Then downtown bk
And that’s just the tip