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View Full Version : Mid-August Toronto (416) house prices down year-over-year

Canadian
08-19-2009, 02:38 PM
The Mid-August prices in 416 Toronto area are down from $394,563 to $391,252. But here is the kicker if you compare the July 2009 average 416 price and the current mid-month price, we are down over 7% from $421,110 to $391,252. So much for the record month of July :p. We are going down baby, going down!
bullish
08-19-2009, 03:12 PM
So let me see, the 416 average price is down about 0.8% and you made the conclusion that we are going down? This is so lame...
trent
08-24-2009, 02:21 PM
So let me see, the 416 average price is down about 0.8% and you made the conclusion that we are going down? This is so lame...

You are the LAME one :p Do you remember what happened last fall, when the stock market dived? The Toronto real estate market dived about 15% and this is before any real foreclosure problems that are coming to your neighborhood real soon. Stock markets are at 10-month high and another breakdown from here is a sure thing. Get ready to be underwater within the next 12-18 months.
Canadian
08-25-2009, 02:27 PM
I think we'll see a decline about 15-20% from the top this winter, but this time there won't be a spring recovery fro the Toronto's real estate.
Steven
08-27-2009, 02:41 PM
I'm curious to see the full August figures for Toronto, but I also think that the real estate market here is due for a small decline.
Canadian
08-28-2009, 03:03 PM
I'm curious to see the full August figures for Toronto, but I also think that the real estate market here is due for a small decline.

Small decline like in 50%-60%? Why people think it's OK for prices to go up 100% in 5 years and then nobody can convince them that they can go down 50%? Answer: Most people are stupid, greedy and ignorant.
Jason
08-31-2009, 02:52 PM
...Most people are stupid, greedy and ignorant.

This might be true, but never forget that "most people" make the market, and betting against the market can be devastating financially. I don't think we'll see any significant declines in Toronto's real estate in the near future.
trent
09-08-2009, 08:57 PM
This might be true, but never forget that "most people" make the market, and betting against the market can be devastating financially. I don't think we'll see any significant declines in Toronto's real estate in the near future.

We will, as most of the developed world has.
Rickson9
09-19-2009, 10:07 PM
So far so "good" for the Canadian (and Toronto) RE market.
michlele21
11-09-2009, 12:56 AM
is it the best time to buy now in Toronto? :confused: