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(CTV News)   Oh geez - Toronto's housing market is looking about as cold as Whitehorse gravedigger's bum in January   (toronto.ctvnews.ca) divider line
    More: Followup, Real estate, June sales of Toronto homes, Emergency department, Real estate pricing, Semi-detached, Toronto Pearson International Airport, home prices, last year  
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693 clicks; posted to Business » on 06 Jul 2022 at 11:59 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



18 Comments     (+0 »)
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2022-07-06 11:48:04 AM  
The average home price in the region stretched to $1,146,254 last month

What? You mean the prices can't just keep going up? That people literally can't pay $11k a month just to rent at that level, which means landlording becomes wildly unprofitable?  *Surprised Pikachu face*.
 
2022-07-06 12:01:46 PM  
Does that mean it's a good time to get in? I was thinking that I'd like a townhouse in Cabbagetown.
 
2022-07-06 12:06:59 PM  
I'll answer my own question. Apparently, the market will have to cool into the low Kelvin range before I get into that Cabbagetown townhouse.

Fark user imageView Full Size
 
2022-07-06 12:09:19 PM  
Whitehorse - Baby, Scratch My Back [Official Video]
Youtube Rqj7pj6dhm8
 
2022-07-06 12:19:08 PM  
House prices rising? Bad
House prices falling? Bad
 
2022-07-06 12:22:18 PM  
WTF is a Whitehorse gravedigger?
 
2022-07-06 12:24:35 PM  
In the states too, a couple homes in my neighborhood have been on the market for over a month now, in the past few years they are usually gone in a week or less.
 
2022-07-06 12:30:50 PM  
Good.  Now maybe all the come from aways will GTFB to Torrona.
 
2022-07-06 12:43:07 PM  

Dr Jack Badofsky: WTF is a Whitehorse gravedigger?


A gravedigger from (brace yourself) Whitehorse - a city in the Yukon.
Can I Rick Romero anything else for you?
 
2022-07-06 12:47:45 PM  

oldfarthenry: Dr Jack Badofsky: WTF is a Whitehorse gravedigger?

A gravedigger from (brace yourself) Whitehorse - a city in the Yukon.
Can I Rick Romero anything else for you?


What makes Whitehorse so special?
 
2022-07-06 12:53:45 PM  

Dr Jack Badofsky: oldfarthenry: Dr Jack Badofsky: WTF is a Whitehorse gravedigger?

A gravedigger from (brace yourself) Whitehorse - a city in the Yukon.
Can I Rick Romero anything else for you?

What makes Whitehorse so special?


here let me change the analogy so you can understand.

The Toronto housing market is as cold as the glare your wife gives you whenever you open your mouth.

Substitute wife, with girlfriend, boyfriend, coworker, dog, cat. Whichever one works for you.
 
2022-07-06 1:06:31 PM  

Metastatic Capricorn: I'll answer my own question. Apparently, the market will have to cool into the low Kelvin range before I get into that Cabbagetown townhouse.

[Fark user image 850x463]


That's an effing-good location.  I could see people still wanting to pounce on something like that.
 
2022-07-06 1:14:42 PM  
Thanks, Biden.
 
2022-07-06 2:15:59 PM  

groppet: In the states too, a couple homes in my neighborhood have been on the market for over a month now, in the past few years they are usually gone in a week or less.


I'm noticing that in my local market and have even seen some price cuts on listings. Everything is still way above my budget but at least I can pathetically cling to hope.
 
2022-07-06 2:33:54 PM  
Kevin Durant apparently chose his next destination.
/yes, I know. Shut up.

Fark user imageView Full Size
 
2022-07-06 3:23:05 PM  
Good.  I have 2 condos across my alley selling for 750k.  3 years ago they were worth around 400k.  They have been on the market for 2 months already and I haven't seen anyone doing tours in that time.  A year ago they would have been gone in a week.

So things are definitely cooling off a bit.  Hopefully prices follow.
 
2022-07-06 4:04:14 PM  
"Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein homebuyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up," Kevin Crigger, the board's president, said in a release. "Expect current market conditions to remain in place during the slower summer months."

That's a lot of words to say "it's way too goddamn f*cking expensive here."
 
2022-07-07 2:58:26 AM  
Prices are still 50% inflated or more.
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