NY real estate crash and Toronto

trent · #1 07-29-2009, 02:41 PM

While reading the article below, I couldn't help but think about our own Canadian equivalents Toronto and Muskoka

http://finance.yahoo.com/tech-ticker...&asset=&ccode=

Canadian · #2 08-04-2009, 04:10 PM

I think Toronto is faring better than Muskoka so far.

Steven · #3 08-06-2009, 05:16 PM

I don't think that the real estate in Toronto will ever go down. I've been waiting for this to happen for several years now, and I missed on a huge appreciation meanwhile

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Canadian · #4 08-10-2009, 08:59 PM

Quote:

Originally Posted by Steven

I don't think that the real estate in Toronto will ever go down. I've been waiting for this to happen for several years now, and I missed on a huge appreciation meanwhile

.

When everybody start thinking that way, the prices will fall off a cliff...

trent · #5 08-18-2009, 02:42 PM

Quote:

Originally Posted by Canadian

When everybody start thinking that way, the prices will fall off a cliff...

Yes, when the last bear gives up the residential market will go down big time. I talk to many "homeowners" (deeply in mortgage debt) in Toronto and not a single one shares my view that there will be a crash. This is simply because it doesn't fit their agenda, and if happens will ruin them financially. Nobody likes to face the facts, but sooner or later they'll have to.