Investment Condo BT - Anyone here?
01-23-2007, 10:38 AM
#21
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It will be the same at the 90s. Developers see demand, they go nuts, over supply.
its a big cycle. And no it may not be a "huge" crash but there is no way this market can sustain this type of increase in development
01-23-2007, 10:40 AM
#22
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True, but how many of the buyers intend to keep them vs. flipping?
I fear the flipping percentage is on the rise.
As for market crashing, I don't see a crash coming, but a correction may come soon. The price has simply gone up too much.
As for market crashing, I don't see a crash coming, but a correction may come soon. The price has simply gone up too much.
01-23-2007, 10:41 AM
#23
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No real source. My opinion and opinions of other I have talked to
I'm currently looking for a house, and considered getting a condo but thought there would be more potential for increased housing prices that condo prices. There are plenty of condos going up in toronto, not so much housing. The total opposite can be said for the GTA, as there is plenty of room for houses. I'm going ont he fact that there will always be people willing to pay large amounts of money for a detached house in toronto.
01-23-2007, 11:09 AM
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Less than 10% of my condo clients are in the flipping business
Most who do flip do so before even taking posession of the units.
In these cases they buy low and watch as their unit appreciates in value before it's even built. Some clients make $60k or more just selling their agreements of purchase and sale.
The numbers on how long people usually stay in condo's, I don't know. I do know that most of my work is resale homes, condo's only make up 15-20%.
Aidan
In these cases they buy low and watch as their unit appreciates in value before it's even built. Some clients make $60k or more just selling their agreements of purchase and sale.
The numbers on how long people usually stay in condo's, I don't know. I do know that most of my work is resale homes, condo's only make up 15-20%.
Aidan
