FiveSigma Posted September 27, 2012 Share Posted September 27, 2012 Article: http://www.huffingtonpost.ca/2012/09/24/toronto-condo-house-sales-collapse_n_1910576.html September is shaping up as bad (total home sales -30% y-o-y for first 2 weeks), so it may not be a blip: http://www.torontorealestateboard.com/market_news/release_market_updates/news2012/nr_mid_month_0912.htm Link to comment Share on other sites More sharing options...
Liberty Posted September 27, 2012 Share Posted September 27, 2012 A good place for (colorful) commentary on this is www.greaterfool.ca Link to comment Share on other sites More sharing options...
FiveSigma Posted September 27, 2012 Author Share Posted September 27, 2012 I found Ben Rabidoux's commentary very rigorous statistically. He discusses everything from Price/Rent, Price/Income ratios to effects of population growth. Here is a good recent piece by him: http://www.theeconomicanalyst.com/content/toronto-condo-market-fly-search-windshield Link to comment Share on other sites More sharing options...
oddballstocks Posted September 27, 2012 Share Posted September 27, 2012 So as the expression goes, "America sneezes and the world gets a cold" This last sneeze Canada seemed pretty darn immune. So I wonder what happens to the US when Canada finally sneezes? It seems like now would be a good time to get a rough wish list of Canadian equities together if the market starts to fall with housing. Link to comment Share on other sites More sharing options...
FiveSigma Posted September 27, 2012 Author Share Posted September 27, 2012 If past two cycles are of any indication (1989-1993 and 2008-2010), then Chartered banks that are currently trading at 2x book will likely get cut in half (to book value). That will be the time to buy them. Link to comment Share on other sites More sharing options...
NormR Posted September 27, 2012 Share Posted September 27, 2012 If past two cycles are of any indication (1989-1993 and 2008-2010), then Chartered banks that are currently trading at 2x book will likely get cut in half (to book value). That will be the time to buy them. Well, IIRC, Royal was at a slight premium, but many others were much lower than book. At least when I bought a few. ;D However, what happens with an Irish-type situation and a 50% real estate decline? Link to comment Share on other sites More sharing options...
FrankArabia Posted September 27, 2012 Share Posted September 27, 2012 i know a few speculators in the toronto housing market.......i think i'll let them find this out on their own..... Link to comment Share on other sites More sharing options...
returnonmycapital Posted September 27, 2012 Share Posted September 27, 2012 A few weeks ago I mentioned that I was to be out with a Toronto condo developer. I wanted to report back to the board on my discussion but found it to be so pathetic that I couldn't bring myself to jot any of it down (all the reasons for continued health were listed in the articles in this thread, especially immigration). Yumm, that Koolaid tastes good. Link to comment Share on other sites More sharing options...
libor.plus1 Posted September 29, 2012 Share Posted September 29, 2012 i work in a real estate law office and we have a ton of clients with dozens of pre bought units waiting to flip them. one client has 30 in fact. 'bubble' is an understatement. Link to comment Share on other sites More sharing options...
ItsAValueTrap Posted September 29, 2012 Share Posted September 29, 2012 Vancouver, Australia, and China have real estate bubbles that are far more ridiculous? Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now