Відео

Adelaide and Melbourne are technically not on the Pacific Ocean. I moved from Vancouver to Melbourne for double pay and 50% cheaper housing so there's quite a big difference even in the top 10.

Canada was always affordable until that idiot Trudeau took power, the dictator , complete inept fool who is taking us down the drain

at least Sydney has decent public transport and mostly warm weather

Toronto is the worst city to actually live on that list

If it is for personal use, yes, but not for investment. Because older building just does not have the same value increase as the new ones.

You might want to check more recent data, Calgary has become much less affordable in the past 2 years, even with its higher income. Edmonton is more affordable. But the best ones are still Winnipeg, Regina, Sherbrooke and St-John's.

How’s London, UK not on the list?

Studio condo's are only 400K in Toronto. That's pretty reasonable.

Its much worse than extending amortizations. They are assessing condis at sale value not market value. So basically to avoid a collapse the bansk are financing a condo that is worth less than it was sold in preconstruction for the preconstruction cost. This is the scary part. This is only kicking the can down the road. In this none of us know what will happen. If things get better, and value picks back up its as if it never happened, but if things continue to trend downward it will be even worse. The only upside is cost is trending down. New starts are generally not breaking ground, the inly bonus is that each month the tenders for trades are dropping, which improves unit cost..

I am watching All your Videos…so see How, where , when you Started

Nice…Video Tom 😂

The Loonie was at 72 cents yesterday. The US Fed did not cut rates. This hammered the Canuck Buck. A weak Canadians dollar is highly inflationary because we import everything. Even our Canadian oil is priced in US dollars. Higher inflation means no cuts.

Junkies everywhere.

Well said… far more value in older condos. The new flashy 500 sq ft shoeboxes that look like garbage after 5 years isn’t where it’s at. The “no pets” is a bonus. Some new condos stink because everyone has a pet and they have issues with animal feces. Nasty and unhygienic.

lol kings landing?! thats top of the top luxury. 1.1m for a 1bdrm 1100sqft ... at least pick an example in the middle.

Hey Tom could you also do a video explaining what happens if and when and older condo building becomes too old? Like do these buildings have an expiration date and what does that mean for owners?

2nd years ago all Toronto people were poo pooing Calgary. Now they want to go to Edmonton where Lawrence Bishnoi gang operates. Good luck with that.

1. Too SMALL for families. So far fewer buyers. 2. Too expensive by a LOT. 3. Usually bad construction that cut corners. 4. Most buyers are speculators/ flippers. 5. A HUGE glut. 6. No panic selling yet by lenders who took possession. It will come.

I know older condos have more sq ft value and have passed the building management problems as per reserve study of the building and are in good locations. They are kept in good condition the ones I know like Palace Pier and others on Quebec Avenue. Probably better built way back when. Talking about old buildings, addition to this, no real estate person today ever talks about co ownership and co op buildings. It is like they didn’t exist anymore. And real estate people are not knowledgeable about them. I am guessing there are 100 good old buildings in Toronto at a reasonable price and in a good location. I have lived in two and that is how I got in the market. I got some equity. Better than renting. You need a bigger deposit though. It is a way that no body talks about today. Usually great locations and big sq footage. Why are you not promoting them in this weird pricing market? A little bit like old condos. All we need is someone to speak positively about them. And educate people and the real estate person has to do their homework too. Banks didn’t accept mortgage only credit unions ,,,,but maybe banks do now. It is a great living situation for some people who like that living style and not renting. Why have they gone by the wayside! Google how many buildings there are in our parts of established Toronto.

Agreed, older builds often have much better layouts!

I'll buy a condo if there's no maintenance fees, other than that you're buying garbage

33 years old and already a boomer.

I disagree with most points. I owned at 33 University Avenue and noise was a constant issue with me being able to hear everything from my neighbour through the wall. Spent over 10k replacing my HVAC and kept on breaking and never kept me warm or cool. We had this guy named Larkamp that kept on suing the building management spent something like $200k on legal fees. Management was a joke with ICON and Wes the CEO was so arrogant and never wanted to do anything. Facilities sucked. The board of directors sucked. I remember the president saying something like “I hope you appreciate moving our AGM to the Royal York…Ummm that is our money, not your’s. The board wanted to spend a ridiculous amount of money to refurbish the hallways. Appreciation was totally lackluster…really sucked to see all the buildings around me go up in value, but the one you are in flatlining. Took so long to sell even though it was staged. I was so happy to have moved to another building (15 Lower Jarvis). Never again for old building. Before I moved in, I spent $50k to Reno the unit…none of that mattered when it came time to sell because very few people wanted it.

Ticking time bonbs. Reminds me of the building in Kensington Calgary that got evacuated. It’s just a matter of time before the reinforcing steel degrades and the building becomes unsafe / unstable.

I live in one of your name-checked older buildings. You are so right about the many advantages of these buildings. One point though. I bought my previous condo in another city at pre-construction stage. While I was able to change the floor-plan and finishes, I did not factor in the builder. It was a greatly flawed project. The entire Tarion Warranty was soon used up, and the owners have now been issued with their second Special Assessment. A third is expected. This for a project that is not even nine years old! With an older building, you know the reputation of the builder, and you can fairly easily determine whether the building was solidly done.

Older units offer livable floor plans / square footage, and are generally built better from my experience. As for maintenance fees, having owned both condos and freehold, simultaneously, I think it's less expansive to own a condo on a running basis. Single family homes have their benefits sure, but the upkeep is a never ending stream of labour and money. New buildings are also mostly rentals and/or abnb, poorly ran, and can be a general sh*tshow.

Yes, please. Please do an episode on old well-managed condo buildings in gta…. Thanks.

I lived in a condo built in 1989 and I agree with much of what you said. One thing I would mention is, while the community was fantastic and the building was very well maintained, there is definitely a nursing home vibe in the building. Most of the residents are downsizers that have lived more than 20 years and activities are bylaws are geared to that lifestyle.

If one is an investor one should have bought in Vancouver where prices won’t crash

I recently bought a condo built in 2007 to live in, It's a boutique build built like a brick shit house compared the newer glass towers, with 85% owner occupied. Having kicked metaphorical tires on nine units in different buildings, yeah, stay away from stacked townhouses.

Older buildings just are much larger, so of course maintenance fees are going to be more in total $ but relatively comparable in psf for what you are getting... and much cheaper..... so yes like I been saying if you think pre-con is expensive and you want a cheaper option, going straight down to the older buildings is the way to go. If you ain't buyin that 2024 lambo (pre-con) because of the high cost but nobody used it.... buyin a 2022 still has a lot of depreciating to go....whereas if you buy a 1990 lambo you get it at a reasonable cost. Yes I have all 3 types.... new, old, in between.

Older buildings are often built better 👍🏻

How about their resale value 10 / 20 years down the road? How will 40 years old buildings in the city perform in resale when they are 60 years old?

I'll take what the others don't want. Way better value for money in older condos.

Thanks.

Would you please make a video of flipping tips ?

Do we know how much of our rental market is being manipulated by systems like Real Page? Do we know how much of our housing market is owned by corporations and being rented or leased back to us? We have real problems in our system and a slight decrease in rental prices doesn't even sound likely considering how much everything else is steadily going up.

Sorry I'm only 7 seconds into your video and you've lost me. Being a Canadian from the GTA I'm wondering exactly what fucking planet you're living on when you say that prices began to fall. The prices have been steadily going up in every single market and the average house price is UP not down. What the actual fuck are you talking about?

You start dropping interest rates and people will start spending on credit and it will be a real mess on our economy

is Trudeau really quebec

They cut rates, way to go Tiffy....Steve was wrong

comments not going to be happy about today's cut, lol

I read all comments and understood this video is not about affordable housing, so I skipped it

Umm okay cool. Hopefully this can include waterfront restaurants and cafes. Like one of those cool restaurants you can pull your jet-ski right up to and have lunch. Maybe an underwater restaurant similar to the aquarium tunnel where you can see local aqualife like the asian carp, green algae, and discarded plastic bags. As a matter of fact you could dike the water AROUND the buildings like a moat, and have a drawbridge that leads to the conceirge. and you can fill the moat with freshwater crocodiles who wear tuxedos and stuff. Anyways just my 2 cents.

Question, do resale and presale prices match once the building is completed?

Sorry I dont like this plan. There is no transit planned for the area and you are eliminating great green space

Not For Profits are very political… sad.. but that’s just the facts 🙄