Podcast 82: What the Internet Is Asking About Toronto Real Estate
Why have prices only seen a modest decline in the Greater Toronto Area, despite soaring inventory and sluggish sales? What happens to condos when they get really old? Will they crumble and be insolvent? What happens if I can't close on my preconstruction purchase? Should I sell first or buy first?
Let's analyze the latest data on price changes, sales volume, and inventory levels from August 2024, and how the recent rate cuts by the Bank of Canada and rising unemployment impact the housing market.
Don't mind all the jump cuts in this video, there was a lot of "umms" and "ahhs" -- I was tired when filming this.
Q&A
0:32 Why are home prices stable despite high inventory?
2:55 Should I buy a 40 year old condo?
5:20 I can’t close on my pre-construction purchase!
12:20 Sell first or buy first?
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PODCAST (VIDEO):
The burning question on everyone’s mind: When will real estate prices in Toronto finally drop? With interest rates at restrictive levels, an economy teetering on recession, and growing concerns about a potential real estate crash, we analyze the current state of the Toronto housing market.
Let’s walk through the critical factors influencing the market right now. We’ll examine key metrics like the sales-to-new-listings ratio, months of inventory, and the impact of rising interest rates. Whether you’re a seasoned investor, a first-time buyer, or simply curious about the market, this episode offers valuable insights that could help you navigate these turbulent times.
PODCAST (AUDIO):
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