Toronto housing market

trent · #1 05-28-2009, 02:13 PM

Toronto housing market is defying gravity posting marginal declines in sales and price for the first half of May 2009. The number of houses sold in 416 area was 1,734 down from 1,864, while the price for the same period was down less than 1% from $439,459 to $437,205.

Obviously there are still lots of delusional buyers, thinking that interest rates will stay that low forever, and confusing temporary low monthly payments with affordability. Good luck to all future and current bank slaves

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bullish · #2 06-07-2009, 12:43 AM

Of course interest rates will stay low until there is a full economic recovery. Meanwhile my house will be twice more expensive compared to what I paid for it, while you will be still complaining how you missed the train and life is unfair

trent · #3 06-08-2009, 05:24 PM

Quote:

Originally Posted by bullish

Of course interest rates will stay low until there is a full economic recovery. Meanwhile my house will be twice more expensive compared to what I paid for it, while you will be still complaining how you missed the train and life is unfair

Sure, cheap money for EVERYBODY FOREVER, that will work

bullish · #4 06-10-2009, 01:45 PM

Quote:

Originally Posted by trent

Sure, cheap money for EVERYBODY FOREVER, that will work

What's wrong with cheap money? It actually stimulates the economy.

Canadian · #5 06-11-2009, 01:48 PM

Quote:

Originally Posted by bullish

What's wrong with cheap money? It actually stimulates the economy.

I'll tell you what's wrong with cheap money - it puts everybody in debt, it devalues the people's savings, and creates giant distortions in the economy (read economic bubbles). Is that enough for you?

bullish · #6 06-12-2009, 01:42 PM

Quote:

Originally Posted by Canadian

I'll tell you what's wrong with cheap money - it puts everybody in debt, it devalues the people's savings, and creates giant distortions in the economy (read economic bubbles). Is that enough for you?

That's your point of view. I think that it revives the economy, helps people afford more things today instead of waiting for tomorrow, and creates wealth.

Canadian · #7 06-15-2009, 01:22 PM

Quote:

Originally Posted by bullish

...helps people afford more things today instead of waiting for tomorrow...

Exactly, it puts people in debt for life, because they buy things they would never otherwise be able to afford unless they use borrowed money.

Quote:

...creates wealth.

Cheap money and borrowing creating wealth?!? This is a complete nonsense.

trent · #8 06-16-2009, 07:45 PM

Quote:

Originally Posted by Canadian

Cheap money and borrowing creating wealth?!? This is a complete nonsense.

I don't know why you even bother trying to explain something to this guy. Just let him go down with the rest of the debt junkies

Canadian · #9 06-18-2009, 02:36 PM

Actually the mid-June prices are up a little in 416 year-over-year. I don't know what to think anymore

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Steven · #10 06-19-2009, 02:54 PM

Quote:

Originally Posted by Canadian

Actually the mid-June prices are up a little in 416 year-over-year. I don't know what to think anymore

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If yoy are expecting a US-style housing crash, I don't think it's going to happen.