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Relatedly, the Toronto housing market that kept shooting up even as the US hit its 2008 housing crisis now have hit their top: https://www.bloomberg.com/news/ar

Relatedly, the Toronto housing market that kept shooting up even as the US hit its 2008 housing crisis now have hit their top: https://www.bloomberg.com/news/articles/2017-09-06/toronto-housing-market-continues-slowdown-with-august-price-drop https://www.bloomberg.com/news/articles/2017-09-06/toronto-h...

tostitos1979 9y ago
Toronto's property market is insane. I am still seeing condos (e.g. Gibson near North York center) being priced at 600K+ for 1+1 and larger units well over 1 million dollars. Not sure who can afford this. Places as far as Vaughan and Milton are expensive. We're talking decent detached houses (slightly above starter home) for over 1 million.
- plaguuuuuu 9y ago
  Sydney is up there as well. A one bedroom apartment in my building just sold for nearly US$900k. This is a nice area, 30 mins from the CBD, but still..
- apexalpha 9y ago
  >Not sure who can afford this. It's just investors selling them to other investors until they, as a collective hive-mind, realise this and then investors will stop buying houses and the price will go down.
- randomdata 9y ago
  Milton is completely understandable given that it grew by 34% in just 5 years[1] and is the sixth fastest growing community in Canada according to Statscan. That is a considerable amount of pressure on existing housing stock. Vaughan gained nearly as many people in absolute numbers, although being larger city means smaller growth as a percentage. [1] http://www12.statcan.gc.ca/census-recensement/2016/dp-pd/prof/details/page.cfm?Lang=E&Geo1=POPC&Code1=0532&Geo2=PR&Code2=47&Data=Count&SearchText=Milton&SearchType=Begins&SearchPR=01&B1=All&GeoLevel=PR&GeoCode=0532&TABID=1&wbdisable=true http://www12.statcan.gc.ca/census-recensement/2016/dp-pd/pro...
- 52-6F-62 9y ago
  It's just as bad or worse downtown. I rent in Liberty Village (paying a blessed 300 dollars a month below market and crossing my fingers it stays that way for now), and around here studio units can start in the mid 500's. The larger units easily run upwards of 2 - 4 million dollars if you go for the trendier, older buildings like the old Irwin Toy factory. Rents are feeling it as well. I think the numbers just came out yesterday or today and an average 1 bed is about $1950. I've seen one bedrooms rent in this neighbourhood for upwards of $4000 a month -- again for the trendier buildings. And this is by no means the upper limit. I remember approximately 2 years ago, when the average attached houses in the downtown were ~600k (usually 2 or 3 bed, kitchen, living, dining, basement, yard, garage). They hardly exist for anything less than 950k Back then the average 1 bed rented for 1200 - 1500 a month. That's a long lost dream now.

tostitos1979 9y ago

Toronto's property market is insane. I am still seeing condos (e.g. Gibson near North York center) being priced at 600K+ for 1+1 and larger units well over 1 million dollars. Not sure who can afford this. Places as far as Vaughan and Milton are expensive. We're talking decent detached houses (slightly above starter home) for over 1 million.

plaguuuuuu 9y ago
Sydney is up there as well. A one bedroom apartment in my building just sold for nearly US$900k. This is a nice area, 30 mins from the CBD, but still..
apexalpha 9y ago
>Not sure who can afford this. It's just investors selling them to other investors until they, as a collective hive-mind, realise this and then investors will stop buying houses and the price will go down.
randomdata 9y ago
Milton is completely understandable given that it grew by 34% in just 5 years[1] and is the sixth fastest growing community in Canada according to Statscan. That is a considerable amount of pressure on existing housing stock. Vaughan gained nearly as many people in absolute numbers, although being larger city means smaller growth as a percentage. [1] http://www12.statcan.gc.ca/census-recensement/2016/dp-pd/prof/details/page.cfm?Lang=E&Geo1=POPC&Code1=0532&Geo2=PR&Code2=47&Data=Count&SearchText=Milton&SearchType=Begins&SearchPR=01&B1=All&GeoLevel=PR&GeoCode=0532&TABID=1&wbdisable=true http://www12.statcan.gc.ca/census-recensement/2016/dp-pd/pro...
52-6F-62 9y ago
It's just as bad or worse downtown. I rent in Liberty Village (paying a blessed 300 dollars a month below market and crossing my fingers it stays that way for now), and around here studio units can start in the mid 500's. The larger units easily run upwards of 2 - 4 million dollars if you go for the trendier, older buildings like the old Irwin Toy factory. Rents are feeling it as well. I think the numbers just came out yesterday or today and an average 1 bed is about $1950. I've seen one bedrooms rent in this neighbourhood for upwards of $4000 a month -- again for the trendier buildings. And this is by no means the upper limit. I remember approximately 2 years ago, when the average attached houses in the downtown were ~600k (usually 2 or 3 bed, kitchen, living, dining, basement, yard, garage). They hardly exist for anything less than 950k Back then the average 1 bed rented for 1200 - 1500 a month. That's a long lost dream now.