Rents are falling in the GTA, and there is a surplus of condos on the market: Ron Butler 

Coles notes: GTA apartment condo market- over-saturated with listings. Rent in GTA down 1% (yes 1%, not much). Single family homes in sought after areas still selling over-asking. Pre-construction condo purchase buyers are screwed (they're now worth much less than they were purchased for).

Its down 1%!? Holy fucking shit! Now its an affordable city to live in!

The condo in the thumbnail is exactly a representation of the average, affordable condo

idk how people can afford a condo, not only the mortgage but then slap a large condo fee on top of it. Crazy.

you mean lower rent pricing means 3000$ per month for 600 sq ft? 😢😢😢

This is interesting because there has recently been a major push to build condos in Calgary and one of them that is finished now has "for rent" signs on it which means no-one is buying. Truman homes has never had rental buildings before. I think the developers push to build is not really necessary. There is no shortage that I can see.

Florida has become significantly stricter since the Surfside collapse. This is causing problems as many condos are now obtaining the 80% approval needed to sell out to developers because residents can't afford the higher reserve requirements.

"May is at a lower start than april" What? We are only 3 days into May. This is a market capagin to get the populous into the market.

You must consider that end-users are not going to be buying the pre-con units. These are purchased by investors, who have traditionally gotten great returns. Like the stock market, things go up and down....we are in our down swing.

How Ron gets through a news briefing without dropping the F bomb is a small miracle

I never understood condo investors, they thought losing $500/month was a good investment because appreciation would always be there. Most real estate investment does not make sense in Canada because appreciation doesn't pay the bills. Now they are all realizing its dumb to own a liability like a negative cash flow condo and all selling at the same time.

LOL I am laughing my head off when I hear about the surplus of empty condo buildings.

Hey! Can't you put 10 immigrants in a bachelor condo? That will keep condo fees low! No damage there! New OFSI mortgage rules next year for non-CHMC mortgages should go after investors.

Wtf is tent going up or down ?

Congratulations on building houses in Canada 🇨🇦 and the United States 🇺🇸

i mean all those condos geared towards investors... leveraged to high heaven and back investors... investors who are trying to sell their overpriced boxes.

Keep those interest rates up, Cap gains taxes up, condo fees going up. Finally the tide of the past 20 years favoring investors has changed. Now non-investors will finally have a chance to buy!

Bad days are upon us

Everyone, wait to buy, big correction coming in condos prices, too many coming on the market

Just increase the tax rate for renting. Or license renting.

It's the capital gain tax.

Angry Mortgage guy!

lower prices are coming🤣🤣🤣😂🤣🤣😍

The only reason they are on sale is because their tenants are not paying their rent.

This is a bull story, unless there is a 70% correction, it won't slide towards buyer's favour.

Holy Christ Ron didn’t curse once!

If people are surprised by this, it's because they overspent on a home themself.

Bro probably lives in a parallel universe

Basically the whole real estate industry and the crazy city council have completely ignored family home production. The city blocks stacked townhomes based on the crazy 39' height limits in the core of the city. Boutique buildings that are 6-8 stories on main streets are blocked by the NIMBYs and the local city councillors. And the existing family units are being gobbled up my investors. That is, people who move almost always hold on to their first home and rent it. And Corporate entities are also buying homes and renting them. The only buildings being built are skyscraper boxes in the sky developments and huge public housing developments. And these public housing developments will forever be money pits for the taxpayers. And the city politicians supporting these developments are lying to the public about what is being built. What they've done is flipped economics on its head. Instead of increasing the number of units they are building hundreds of brand new townhouses on the most expensive land in Canada. Homes that would sell for well over 2 million each on the market, are considered reasonable public housing units. And the taxpayers are paying for this. Now they could have sold these properties and used the money to double the affordable units available to low income earnings but they didn't. So when you are thinking about the fact that you can't afford a tiny condo, remember your tax dollars are paying for somebody to live downtown in a nice townhouse for next to nothing. They should throw out the whole concept of public housing completely. It's a disaster. So next time you hear Olivia Chow talking about affordable housing, she means public housing not affordable housing for everybody. And this is the core of the problem. We have a city gov't who blows hundreds of millions to supply a select few homes, and then they turn around and fight every private development making it incredibly expensive through land transfer taxes, development fees, dragged out approvals, legal fees, GST taxes etc etc.

Capital gains tax effect

Nooooooooo …really……who knew 😂😂

All you own is the paint in the walls in a condo

That capital gains tax change is having its desired effect, driving a sell off of rental units.

Condos are great for same sex couples that like to snuggle together.

Not a big Ron Butler fan.

Buu😂

Fakenews

Question, do renters ever stop their whining?

Condo investing is sort of a scam. You get in and out. I feel bad for these investors who are stuck with empty units , renting or selling at a loss. Ugh. I wouldn't even say its a buying opportunity cause who wants to live dt

we should increase immigration to fix this problem

WOW! BRING IN 1,,000,000 more immigrants....what! You mean interest rates ACTUALLY matter/

This interviewer is horrible.. he can’t hear and he doesn’t know anything about the topic smh

You guys are the worst with your typing and paper shuffling

Rents being down is good for renters? Only if they want to move. I'm raising my rent.

Yeah from 3000$ to 2999$! Let’s celebrate

time has arrived to ditch youtube permanently.....