big real estate guy
Toronto
Joined December 2011
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Allied REIT is getting obliterated and KING toronto is in the eye of the storm
King west's most anticipated landmark project, is expected to see a 30% default rate.. confirmed by management
The developer Westbank heavily pre sold to offshore buyers at BIG premiums compared to resale prices
Now Allied, who took over the project since westbank was struggling to fund construction
is facing 9-figure losses.
Blood on these streets.
Condo completions fell 13% yoy in Q3 to their lowest level since 2020.
This means less new investor owned units hitting the rental market
This declining trend will absolutely continue in the coming quarters, putting pressure on the purchase and rental markets in Toronto
Rental listings in GTA are plunging, going against normal seasonal trends
Specifically condos, down 29% yoy in September
Markets pricing in a 80% chance BoC hikes on Wednesday and then 3 hikes before summer 2027
But core inflation just hit 6 year low, inflation expectations from consumers and businesses are stable, and canada just lost 110k jobs in 2 months
So we'll see
Been hearing the foreign buyer ban won't be scrapped, but could be revised.
One theory floating around is that the ban would remain in place for resale properties while being lifted for pre con
Q3 2026, in the entire GTA, there was 1 pre con project that started construction..
Walk around dt toronto and youll notice, for the most part, the cranes have disappeared
globalnews.ca/news/12077362/…
Population growth starting in 2028 will go back to long term average, 100k people per year.
And condo completions in 2028 will be virtually zero.
The shit "developers" were building during covid was insane
Affinity condos, a 6 yr old building in Burlington occupied in 2020
Balconies shifting and sagging
Can you imagine
Ouf...Cycle high of distressed, court ordered property hit this relatively illiquid market in September
Investors, pay attention, there's some blood in these streets..
Toronto home sales & prices down in September
Not exactly the "fall market rebound" ppl were expecting
Demand is clearly softer than past months, consumer confidence playing a big role here
Plus rates aren't helping.
HOWEVER,
Take in the new & active listings numbers... New listings dipped 14.4% and Active inventory dropped 9.3%
Significant pull back in supply
If demand stays soft but inventory continues to tighten it'll be way harder for prices to see another significant leg down
For now, less demand is being met with less supply. Probably the most important part of last months numbers
Your largest and best wins are serendipitous, cannot be planned
So you got one job.. show up and shoot every god damn day and keep your identity tf out of the results
ctvnews.ca/toronto/video/202…
This would be BIG:
Brad Bradford promises to waive municipal land transfer tax on first $1.1M of purchase price
2 ways to go when facing a setback:
1 - ur sad and in pain which means you're holding all the fire within
2 - u unleash the beast and go on the warpath to achieve transcendence
Totally up to you
ctvnews.ca/vancouver/article…
B.C. Premier David Eby has backed away from a proposed plan to potentially purchase unsold condos from developers and is instead proposing a 2% annual tax on newly built condos that remain vacant and unsold for more than a year.
Average person waits to look and feel their best before they take action..and ur lucky to get that max a few hours a week..its why ull be mega breaded if you can perform consistently when you look and feel like shit
"While Toronto's condo market posted its first sales gain in three years in the last quarter, a lot of that was attributed to investment groups buying units in bulk."
renx.ca/the-impact-of-bulk-c…
There are currently 26,940 homes for sale across the GTA, only about 4% fewer than this time last year. Active inventory really hasn’t moved much. Buyers still have a lot to choose from.
