youtube.com
I know the documentary is old, from 2013.
Though, how do you think this would impact Toronto's real estate market in the future?
>Chinese pouring dirty money into building condominiums (built with cheap material, poor labor and some are not inspected).
>Toronto being flooded with cheap/poorly built condominiums.
>Tenants will have larger and larger maintenance costs over time.
Is the Toronto real estate market a ticking time bomb?
Already happening in Australia.
There was a news report on it where they said something like 94% of all the newly built apartments in NSW had at least 1 major structural defect
Aren't the Chinese now selling the property they bought in western housing markets?
This is why I rent.
FUCK buying real estate. it's for literal retards, If i'm going to invest in real estate I'll buy REIT's.
The boomers will take interest rates to zero to keep the property market alive, but it won't be enough.
Everyone on fixed income is going to get wrecked.
Everyone depending on their house being their main source of net worth is going to get wrecked.
Buy inverse ETFs and dance on the graves of broke boomers with me.
I rented from a new condo recently in downtown. Still being built. Door handle fell off TWICE. The key fob looks like a plastic dollar. Keep in mind it’s a luxury condo. The fuck you give me this round plastic dollar to open my door. Oh btw, that didn’t open the door all the time. 4 times while living there for 2 months, the door stopped taking a charge. So I had to get them upstairs to use something with 4 AA batteries with a red wire to jumpstart it. Cracked tiles in the elevator already. The door ripped the inner door paint off when I opened it. And the kicker, no AC. I couldn’t fucking believe it. They had to fix something and wait for a day that was cool enough. What a pile of shit condo. They wanted 800k for that garbage. Good location if you don’t have a car and you like the down town life. But North York is miles better for living.
Smart people buy the LAND not some box in the sky
Jesus. That's no good. I wonder how badly of an impact this will have in these markets in the long-run.
Why would they. The yuan is falling apart.
how can a normie like me buy inverse etfs
t. crpytobrainlet
To recuperate the losses from the yuan falling apart.
if it's not the condo cost, it's the maintenance cost. We are paying 950$/month for maintenance (condo costs around 500k, 3br, 130m^2) in Etobicoke. 10 years ago one could rent a 2br for that price! I don't understand how people can afford this fuckery?
bump, i'm also a crypto brainlet looking to diversify
Inverse ETFs are only good for short term trades.
You could buy TVIX (TSE) or UVXY (NYSE).
I wouldn't recommend them though, these are quite risky and tend to "depreciate" over time. I'm sure they'll do well when markets "tumble" though.
Household debt in Canada, a nation generally known for moderation, has reached levels that could be qualified as excessive. Canadians owe $2.16 trillion—which, as a share of gross domestic product, is the highest debt load in the Group of Seven economies. With the housing market cooling, a reckoning may be fast approaching. People are “freaking out,” even though, with interest rates not far above historical lows, “money still costs nothing,” says Scott Terrio, a Toronto-based manager at Hoyes, Michalos & Associates Inc., a company that specializes in insolvency.
bnnbloomberg.ca
I hope those fags in Toronto get bent over and fucked hard. Fags
Everything outside the GTA and Ottawa in Ontario is a shithole though?
Toronto is a cold bland shit hole with literal 56%'ers walking around everywhere. Go watch any Raptors after party videos. Don't get bitchy and butthurt about me calling our your city for the shit hole that it is. Toronto fags always get so butthurt and have a massive inferiority complex towards the US.
>watching after party videos
You seem like a true fag.
Yeah like I said, Toronto fags like you always get butthurt when your shit hole city gets called out for the bland, beige, concrete shit hole it is. Wannabe burgerfags
Where is it better though lmao? Middle of nowhere with nothing to do on a friday night except post on Jow Forums?
>b-b-but there's some black people there!
Every single major city has non-whites, unless you decide to live in Thunder Bay or even better North Bay you can't escape them. No point cucking yourself.
This. Buy gold and silver to short the stock market long term
Its relatively new. 1980s Toronto had barely any tall buildings. It's mostly glass and has a modern look to it. NYC is a shit hole.
>says it's new
>first post ITT is talking about the shit hole condo user rented that had door knobs falling off
>literally had to get pegged in the ass so daddy landlord would put in ac
>missed the raptors game too probably
Yeah dude was that building made out of glass? Hell fkn ya dude I love glass !
>bland beige concrete
>glass
>Nothing except 2 bars within 10 km
>Have to drive to get anywhere because public transit is non-existent and there's no bike lanes anyway
>Oh I love those general steak restaurants
>Gotta work hard and break my body before I become 50 as a tradesman! Hardwork makes the man!
>Need to marry a conservative girlfriend with no education beyond highschool
>"Hurr durrr you're CU.CKED living in Toronto with all the hot sluts, nightclubs, being next to well-paying jobs, everything you could need"
>"Why yes I do enjoy living next to families and old boomers, why would I want to live in Toronto next to the SANDNIGGERS and the BLACKS"
>Of course suburbia is enjoyable, don't you love to see hundreds of houses that all look the same?
Live in Toronto. How do I short this?
This isn't even real estate really. You're not buying any property. You're buying a box in the sky. Building gone for whatever reason? What do you own now? Paper?
you could short canadian bank stocks
Falls under bland. Every building is glass. The one you were living in was more than likely plexi glass. Lmfao
Yeah like I said, Toronto fags get butthurt and never stick on the topic. They just lash out with Onions on their upper lip and try to attack the person or other parts of Leafland.
Come to Quebec, white man. I don't know what anyone here is saying but it's better than living among the fake Jamaican Scarborough accent kids.
>tfw quebec
Words cannot describe how comfy it is
Again, where is it better to live in Canada than Toronto? What city do you live in?
you own a a indivisible portion of the strata property which includes the land dummy.
WHY CANT WE BE FRIENDS WHY CAN WE BE FRIENDS
I want to be their friend but their Estrogen levels are far too high and they take criticism poorly
>Mfw people are white, Catholic. They Play hockey instead of basketball. Listen to comfy music instead of hip hop. Rent is $700 instead of $2500.
Itd be paradise if the Frenchies didn't hate me for being Anglo.
ok lol how is that any different?
enjoy your 1cm^2 share of the buildings foundation because you have to split it with everyone else
Because it's not legitimate criticism when you just say stupid Jow Forums memes and refuse to say what city you live in and how it's better (to avoid criticism of your own)
Yikes. Feels good to be burger.
$950/mo for maintenance KEK
christ this city is ass
Where to buy inverse ETFs my friend?
what city are you from? at least give us a chance to fight back
if the building is destroyed for 'whatever reasons' as you stated. the strata, and by extension yourself, still own the underlying assets minus the building, which is the land. and almost all buildings have insurance which covers the cost of a catastrophic incident which would render the entire building uninhabitable. the same way house insurance works if your house catches on fire, depending on your policy, would put you up in a similar living situation up until the new building is built.
TVIX or UVXY, again, these are only for short-term plays, so becareful.
These tend to depreciate over time.
>anyone that doesn't like the smell of body odor and literal shit 24/7 must be Jow Forums
fuck
off
Where to buy the inverse ETFs friend?
Learn a little bit of french you faggot, show that youre trying at least.
It is Jow Forums when their arguments against Toronto start off with:
>"There are a lot of people that aren't White"
>begins by calling us fags
Doesn't even say where he lives to give us anything to respond with. 9/10 that's a Jow Forumsfag
Quebec people are kinda mean, or is that just a french thing?
In NYC?
i unironically live in that building
Never mind forgot this was a maple syrup thread
Ya I'm practicing every day. It takes time though.
>nothing to do on a friday night
>living the going out on a weekend meme
you are clinically retarded, normie
THIS
I live in Toronto and have made acquaintance with a few FOBs at the gym. Their families are doing exactly this. Selling their foreign assets to cash in the wake off the impending global recession. If you bought Toronto real-estate within the last couple years and you're not a chink you're going to get completely assblasted.
>Having fun and enjoying your youth is actually a meme
What's the point of trying to "get rich" if you're going to be this autistic?
shiettt.
How long do we have?
I am from Toronto.
fuck off LOL
I would be careful getring in/out of shoddy elevators mate, we going the china route at this point
>and almost all buildings have insurance which covers the cost of a catastrophic incident which would render the entire building uninhabitable.
it always blows my mind that people actually believe shit like this
can you just imagine all the qualifiers and legalese and specific set of circumstances that would have to be reached for this insurance to pay out? basically, it never will because it would have to be an event totally catastrophic.
but, say, when your towers turn into slums as suggested they may in the video, well.. they are still inhabitable, so enjoy your skybox, cockroaches, bed bugs, crime, and violence.
My dad sold his condo in etobicoke last year, paying a second mortgage in "maintenance" fees is criminal so he sold it. Guess what nationality the buyers who paid cash for it were?
if you don't sell this year you'll probably be fucked. market's already cooled off and bidding wars only happening in certain (previously) waspy areas as opposed to everywhere. I expect next year will see a 5% decrease which will only snowball from there.
what?
it's the same as house insurance. you pay a deductible, you're covered for a set of circumstances like FIRE, FLOOD, EARTHQUAKE. it's not complicated. have you ever owned property? im going to guess nope. notwithstanding that a catastrophic even tthat renders an entire building uninhabitable in itself is a fucking rare event compared to the number of buildings that exist.
>the buyers who paid cash
also have a friend who sold his condo to a chink who paid cash. 500k in cash. like who the fuck just has that lying around. fucking kek
oh my god, sorry wrong person. My apologies friend.
I meant to ask "What city are you from?"
I have huge short positions in a bunch of major Canadian banks for this reason. About 50% of my portfolio is shorting RBC, CIBC, and TD. These companies are heavily exposed and could lead to a collapse of the Canadian banking sector when this house of cards comes down. I've heavily researched this already and am confident this will happen soon. The exact time is of course always difficult to pin point. I'm continuing to add to my position over time as conditions deteriorate in Canada. Many others share my viewpoint as well. One of the major investors from the Big Short that predicted the US house market crash are also heavily shorting Canadian banks. This is a once in a lifetime money making opportunity if you have the balls to take it.
Yup, that's exactly what they were. The funny thing is they didn't try to jew him down much, they just paid and didnt even move in. Its like they were in a rush to just park their money in a condo and gtfo of dodge.
I have a strong urge to cash out $50k from LINK and do this as well.
OP the video is not available, you got another source?
Search youtube "towers of trouble"
as usual he's right about his predictions but wrong about the timing. hell, I could be wrong about the timing as well. perhaps chinks will find other chinks or saudis to buy high from and that'll continue for another few years. my area has gone from chink to saudi owners rather recently (yonge and eglinton)
Don't be a LINKcel, cash out asap.
