Vas | Toronto Real Estate

@VicStorm @danielfoch Markham

@VasCityEstates @danielfoch Nice. What area?

We wrote the whitepaper referenced in this article and our conclusion was actually pretty different from the what the headline suggests. To be fair, I understand it. I write attention-grabbing hooks all the time too. “78% of prices are the same or higher” That’s true if you’re only looking at the sticker price. But that’s not the full story. Right now the expanded GST/HST rebate hasn’t received Royal Assent. Because of that, many builders aren’t changing their list prices yet. Instead, buyers are often:paying the full price including HST at closing then applying for the rebate and getting that money back afterward So even if the price looks unchanged, the buyer is often still coming out ahead. When you combine that with the actual price cuts we’re seeing on roughly 20 to 25% of units, our estimate is that something like 90% of active new construction inventory is effectively cheaper than it was before the policy change. Builders are trying to move inventory, some are cutting prices directly, others are leaning on the rebate as a buffer, and many are just waiting for the policy to be finalized. We discuss the game theory of this in the full report. Once it is, and builders can start building the rebate directly into pricing, I’d expect more visible price reductions. And the bigger point here is what it means for resale. If new inventory is getting cheaper in real terms, that creates more competition for resale sellers. That likely puts downward pressure on resale prices over the next year. Here’s the Toronto Star article: lnkd.in/dqB5Zx9E Here's a link to our report: lnkd.in/d9WpJH5p We will update these findings after royal ascent as well.

@PK9209 @ManyBeenRinsed Oh you ran that rush hour promo like a boss eh, love it!

@ManyBeenRinsed @VasCityEstates Only take it when it’s free 😁

@Kashmoney777777 So does mine 🥲

@VasCityEstates My employer pays for it so i dgaf 😅

@Jeffdthompson My wife got a Toyota last year, was looking at the Highlander and insurance was 3x what her prior car was because of this. Ended up with another SUV that's on the list, but a little lower. Insurance still made us put a TAG tracking device. Clown world.

Why is the security in the Lexus so flawed? We had our RX stolen back in 2018. Such a pain.

@Jeffdthompson Why didn't they want to do it?

Reminds me of back in 2008 when I was at a rental place in Marco island (Florida) near Naples and a nice lady showed up asking to speak with owner. Told her we were just renting. Kept chatting and found out it was the bank with a foreclosure notice. My father in law who was the one renting it later went to the bank and tried to offer to take over the mortgage which was about $400k. Keep in mind this was a four bedroom house with pool and waterway access. The bank wouldn’t do it but even if we’d got it for $500k or $600k it would have been a steal, likely worth $1.5-2m now.

@TdLeaker This is why I am an investor in Robinhood, what he posted is directionally correct, but someone searching up a ticker on X doesn't translate to 'intent to buy'. If you are searching it on your trading app, you are buying, and that's the data robinhood sells to hedgies.

This is probably the highest signal example about how “you become the product” on social media platforms.

@Jeffdthompson Make this a family affair!

Removed a built in mirror here yesterday. What should I do with this space?

@EurodaleHomes worst winter ever

April flurries brings us worries.

@dima_nomad A lot of German cars about to get that sweet 87.

Good morning

@CoachDanGo Have used the Gunner glasses for years, haven't noticed a difference or seen it in the data on my garmin/oura sleep stats, but it's a habit now so I keep doing it.

@tferriss Tim gave us Jocko!! (how did you even find him) GOOD

Thanks so much, Joel!

@cognitive_cap That's insane. Any incentives from the town to build here? Where abouts is this?

@VasCityEstates We’re going through SPA for a ~500k facility in Markham and DCs are roughly 30MM. Worst part is there’s no public services whatsoever, the building will be privately serviced. Need major reform otherwise job creation will be nonexistent.

While reducing DCs for housing development is 'nice', here is how bad it is on the industrial side. A client is currently going through site plan approval for a 10k sf warehouse. Building envelope hard cost is $140-$160 psf DC's $40 psf on top. How business friendly is this?

For reference, that's $400k in development charges before you even pay for permitting or put a shovel in the ground. Another $60k in conservation water fees even when the land is NOT in a conservation area.

Uber from downtown to Etobicoke is $15 Drivers are volunteers at this price, no money made.

@Jeffdthompson How far are you driving today? 🫡

Up at 5:45am on a Sunday. Welcome to comp season. #dancedad

@garrett15943309 what's your contact info?

@VasCityEstates We would yes, service all the gta.

Current project, Hardie board installation on a garage addition we framed

@garrett15943309 Let me ask if he is still looking, do you go out to Fallingbrook/Kingston Rd area in Toronto?

@VasCityEstates We like to look at every project individually, as they all have their own unique characteristics and challenges. We were 20 k for supply and install on this 700 sqft addition, higher than we would be on most hardie projects. We’re always interested in quoting!