Everything is fucked here one of my mortgage broker friends keeps telling me that he’s never seen such a high amount of defaults in his 10 years in Toronto real estate.
When the Toronto-area housing bubble burst last spring, 988 home owners lost $136 million in less than five months, according to a new study.
That cost was borne by sellers caught in real estate transactions that didn’t close after property values began dropping last spring, says a new report on the fallout from the extradordinary rise and fall of the Toronto region’s recent housing market.
The study, released Thursday, is believed to be the first to quantify the impacts of the housing bubble that deflated almost immediately upon the introduction last April of the Ontario government’s foreign buyer’s real estate tax.
Oregon, only goes up and up from all the people fleeing kalifornia
Nathaniel Ortiz
>mfw housing market crash coincides with a crypto boom and I buy myself a nice comfy house downtown
can't wait 2bh
Ian Rodriguez
I have a middle/upper-middle class condo that's gone up $60k since I bought 4 years ago. It's making me nervous. That seems like a lot for having no land but I guess condos are increasingly desired by the first-time home buyer demo.
Carson Perez
I'm in Oregon and I'm pissed about the BS valuation so I'm saving up my money and I'll go to a proper state that respect my gun rights... IP43 is such a crock...
Colton Phillips
lol same, but I do love my home town, just wish the prices would chill the fuck out.
Austin Torres
Why does it seem like there's always a housing bubble?
Andrew Clark
I don't care. Not gone buy a house priced over 50K. Willing to consider buying at 5K
Jace Walker
because housing debt is the gas that keeps the fire lit in the american economy
Joshua Miller
what you cunts fail to realise is that millenial gen is as big as booomer, we have more spare income and the housing bubble esp in USA will continue past 2025.
Isaac Roberts
>IP43
just a quick read of this
lmao the absolute state, just about every gun can be considered an "assault weapon" through that act
Julian Gray
Silicon valley reporting in.
Fucking insane...prices keep rising luckily unlike Toronto which is all foreign inflated we have high paying jobs and a economy on fire and lots of people and short supply and foreign investors all working to keep shit expensive
Grayson Mitchell
Northern nj here. I work in real estate tho not an agent. Never been busier. Inventory tho is very low and prices are high. NYC is moving in then it pushes everyone west. If you could, it would be a great time to sell and move out of nj to maximize profit
Cooper Walker
I keep trying to get my dad to sell his house on LI but he keeps waiting. How do I convince him?
Kayden Price
toronto deserves poverty for importing browns yellows and blacks. nuke it.
Nicholas Jackson
the biggest bubble is the non-white bubble. property values in increasingly non-white neighborhoods and cities are going to completely crash in the next decade.
if you want to make money on real estate you need to be buying up property in island nations with strong border and anti-immigrant control.
Nicholas Taylor
how can i best short the housing bubble?
Logan Gutierrez
This is my thought exactly. White flight is serious. Where are some places you've thought of user?
Tyler Clark
Montclair here, been seeing a lot of people leaving in the last two years. All the young people can't afford rent and all the old people can't afford the taxes. Hard to say how it'll be fixed by next year since Murphy is playing around the new tax laws.
Alexander Morales
Up 5% every year I just bought a house for 300k )75K under asking) The owners were old people and the house had Zero curb appeal for the Seattle fags who buy houses here. Fixed up the house Floors, paint, updated bathrooms ex. Appraised at 430K. Feels good man
Lol how do you figure, reduced buying power and a generation of people with almost no savings living paycheck to paycheck. You call it spare income but it's really peoples inability to save.
Henry White
because the age demographic of Jow Forums and possibly your peers are not wealthy. the growth in assets, property, outstrips their ability to purchase therefor it is a 'unreasonable' valuation. so a crash must be imminent in their point of view. in reality? who knows.
Levi Watson
I've been goin nuts in Montclair. Again, NYC coming in pushing out those already there. If you want to profit, follow where the money is going. Make ur money in nj then buy in DE, MD, SC, NC. This is where the money is going and will continue to go.
Carter Torres
Where? Zimbabwe?
Joseph Brown
>300k >buying a house >investing time and nerves to fix the house >430k appraised >gain of 43%
I understand real estate is a somewhat secure investment, but why bother so hard?
