Toronto housing market bursting bubble ?

[fswevaluation]

http://www.businessinsider.com/torontos-housing-market-is-tanking-2018-3

 

[scylla]

http://www.businessinsider.com/torontos-housing-market-is-tanking-2018-3

I would say bursting is way too strong a word. There is some cooling happening as a result of the recent new rules introduced - but nothing is crashing (at least not yet). Prices are still very high. And they have also increased from January to February of this year. So month over month - prices are actually increasing (not decreasing).

There are still many properties going into bidding wars and over asking offers - both houses and condos. House up the street from me the was listed last week for 1.8 and went for 2.4 with 14 bidders on Tuesday (I thought that was high - but not my money).

So certainly not bursting now. Of course who knows where we'll be a year from now...

 

[fswevaluation]

I would say bursting is way too strong a word. There is some cooling happening as a result of the recent new rules introduced - but nothing is crashing (at least not yet). Prices are still very high. And they have also increased from January to February of this year. So month over month - prices are actually increasing (not decreasing).

There are still many properties going into bidding wars and over asking offers - both houses and condos. House up the street from me the was listed last week for 1.8 and went for 2.4 with 14 bidders on Tuesday (I thought that was high - but not my money).

So certainly not bursting now. Of course who knows where we'll be a year from now...

I respect your opinion a lot but continuous prices are unsustainable and it will have to stop, else only the ultr rich with deep pockets will be able to buy

 

[steaky]

I respect your opinion a lot but continuous prices are unsustainable and it will have to stop, else only the ultr rich with deep pockets will be able to buy

The Ontario government might follow suit:

http://business.financialpost.com/real-estate/expect-toronto-to-follow-suit-if-vancouvers-very-aggressive-speculation-tax-on-property-succeeds