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It’s long weekend. Nobody is looking at houses or going to Costco. They are having BBQs or at the cottage or away on vacation. Come on now… no need to embellish things. And I’m the biggest bear when it comes to the Toronto RE market and think it will continue to crash. No need for misleading tweets.
@ShaziGoalie The reasoning in this post in completely wrong. This is not indicative of maket busting further down.
Seller posted it and with a few days, deal was closed. They could have hung on for a better deal but obviously something occurred that looks like forced their hand
🚨BREAKING: NEW LOSS TERRITORY!!!! BACK TO 2016 PRICE IN TORONTO!!! 😳📉
📍Toronto, ON 🇨🇦
$300K wipeout in 4 months. This one was bought in January THIS YEAR for more than $2.7M.
The owners just sold it for a whopping $300K loss 😬
If you add on Toronto's mega land transfer tax ($100k) and probable real estate commissions (~$100k) this loss would be close to a cool 1/2 MILLION in 4 months 💸
This new sale price is the same price it was sold for in 2016 🕰️
How are people withstanding this level of financial pain? 😖💔
@MJCFORFREE@ShaziGoalie I was salivating to get a response in, something like “All Wrong!!”
Until i read Brownie’s comment. Its clearly or highly unlikely its money laundering etc.
Something unfortunate happened
@ShaziGoalie I don't get it. How could you purchase a home and need to sell it at a 300k loss 5 months later. Can someone please explain the idiocy. How did that happen. Anyone, please explain.
The Collapse Is Quiet 📉
A trained accountant. Desperate. Condo listed. Mortgage bleeding them dry.
They're applying for gardener and painter jobs.
No replies. No mercy.
This is what the job market really looks like.
And they still tell you it's "just a soft landing."
@krassenstein Possibly, possibly not. But like other random things, it’ll get used politically. Thats just the way things are. Momentum building on this front
The housing market has never been this unaffordable in U.S. history.
With inflation-adjusted home prices setting a record over the last three years.
We're now in the biggest housing bubble of all-time, and the only period that came close was 2006, before the big crash.
Many people like to tell you "home values will never drop". But those people conveniently don't show you this graph.
There is no historical precedent for how expensive today's housing market it is.
And homebuyers know it.
@nickgerli1 CPI has NEVER measured inflation. Inflation is the expansion of the money supply. CPI tracks the price of a basket of goods/services. CPI used to more accurately reflect the debasement of the money. Now with hedonic weighting etc it is significantly more fake.
@cityoftoronto nice work morons. Block spadina exits, allow all traffic coming out of city onto highway, funnel all traffic to Jameson. Accident on one if only two lams leading out. Eff you
Why is everyone looking for exit liquidity in Canada? What happened?!?
They said rate cuts would spur demand. Nahhh … it spurred supply. U were warned rate cuts were a sell the news event.
I’ve never seen it like this b4. Lawwwd.
Silent depression. 🤫🇨🇦
Just the beginning of the impacts of the rainfall warning / #onstorm and flooding upstream of the Etobicoke Creek from Marie Curtis Park at the Toronto/Mississauga border.
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