Why Does Toronto Have a Record Number of Condos for Sale During a Housing Shortage? 

People just don’t want to pay for the stupidity of other people overpaying 2 years ago for no reason. Good now they all know not to run in the dark.

the condos are 400 sq feet and 700k plus. just go to jail you get the same thing and food for free.

Just how many luxury condos the city had allowed to build over the past ten years while ignoring the serious shortage of affordable and senior RGI apartments left unattended for decades ? Doing big developers favors and now .... serves them right .....

The bottom line is housing should not be just another asset class. Creating a dependency on investors instead of owner occupiers will always result in higher cost unsuitable housing. The best thing that government can do is to make Canadian housing unattractive to investors.

This guy isnt even in Toronto, but is telling me whats happening where I am ? What an expert !

There is an AFFORDABLE housing shortage. Price matters at least as much as supply.

In the last four years, we have essentially crammed 12 years of inflation into our time. Who's to say there won't be at least a couple more of these significant spikes in the following forty or fifty years? What can you do, given that adults believe this to be the largest financial concern, to ensure that inflation doesn't wipe out all of your retirement savings?

Record numbers of listings because the entire Canadian housing market is in a MASSIVE bubble driven by fomo low rates and MASSIVE amounts of speculation, along with 20 years of terrible government policy. And now unfortunately that bubble is popping. The next 5 years are going to be NASTY

because realtors aren't pricing things sensibly

Buying a condo makes as much sense as buying an electric car, you will have regrets.

We don't have a housing shortage, we have a housing and mortgage bubble.

How can you say prices are sticky when I’m literally seeing condos sell for 2018 prices?!

3 million immigrants are coming. My realtor never lied in his life, real estate prices never go down.

Nothing gets fixed until prices drop about 20% & then gradually turn around

Canada is fked, I'm not paying 1mil+ for a 1500sqft townhome, I'm not a sucker. I rather stay in my over priced 900 sqft condo I bought 7 years ago for 500k.

Am I missing something or is MLS inventory not a true reflection of inventory as there are so many presale condo's which are not permitted to be listed on MLS. Condo inventory is likely double what is being reported and growing. When is the media going to acknowledge the true state of affairs? As defaults continue to grow in behind the scenes, things are going to become very interesting!

Because one can't raise a family in a 700K one bedroom plus 'den'.

If you write an article saying prices are up year over year but you don't mention the huge downturn in the market at the same time, you are just filling a narrative for your advertisers.

Great video, thanks

Because not everybody can afford a new condo, even a small one with the little they produce. When BofC says Canada has a productivity problem, what do you think it means and what do you think are the consequences?

You people don’t understand the cost of competition on these 416 condos. You cannot build for less then 1200 per sqft anywhere in the 416 without loosing money

There is a politically acceptable solution to the economic catastrophe the government has created with the capital gains tax exemption on the primary residence. Allow existing homeowners to keep the exemption on their current primary residence but make capital gains on all future home purchases taxable as ordinary income. Then lower income taxes on all individual taxpayers by an equal amount. This will have a desirable side effect of lowering all home prices to an affordable level based on fundamentals (e.g. incomes) over time. It will also rebalance the economy encouraging investment in more productive sectors other than real estate and drawdown banks inflated mortgage books.

Thank you for the detailed information!

No one can afford it at these interest rates... If you can't sell it?? Rent to own.... With government backing , that would help fix the housing crisis...

John you recently went to Greece you noticed condos selling for $100,000 to $150000 euros do you think the average price of $750000 is going to last in Toronto? And if so will we see a gradual then sudden drop off in 2025 2026?

What do you think of hard condos like factory lofts? they seem to be cheap on maintenance fees, and pretty big for the money. Im i missing something?

Do you people think this is only a problem here in Toronto? In Europe, it's the sane issue.

cost is the obvious answer. Condo market is totally manipulated.

There is no mass market for "larger" condos anywhere near current prices ..low income families can barely afford small old rental units in the city or townhomes 2 hours away

I guess we don’t have a shortage after all! lol

The condo buyers now are end user buyers, not investors so they are looking for long-term livable condos instead of the micro condos.

tldr; interest rates

The aging boomers make up 30 percent of all home ownership. Toxic mortgages are at an all time high, defaults and attempted sales will follow. The price of housing is out to lunch and most people are staying away from buying right now. 1 in 3 new immigrants either move back or move elsewhere due to insane housing costs. This will get worse until people stop coming and only leave. Within the next couple years there will be a massive shift. The value of the dollar will be moving from housing into the new digital economy. Just the boomer issue alone will have tons of housing left sitting empty, while new listing grow stale and accumulates quickly. A bunch of home owners are already stuck with toxic mortgages and that will become exastrabted as the housing markets spiral and implode. 2008 will look like a picknick.

Jesus John, get back to your vacation

The muppet boiler room condo flipping market is dead 😂. Unbelievable but true

Don't buy any real-estate in toronto.. prices heading much lower

Its an affordability crisis

why are there a record number of Condos?....why are there a record number of Agents.? ....same !! each come with the talking head pod cast...all spewing the same info. Most come with the same backdrops/ virtual staging...same plants and expecting different results. ''heard it all before'' at least some fix the hair and lighting before going on camera.

I can see the buyer will regret not buying now. The price is down but people don't buy and still waiting for lower price. If we had a normal market the price would be higher at least 10 percent

Condos are a good investment..by 2080 double

Tax change simple.

This clown John was saying a few months ago that prices will peak again 😅.

Have friends who were waiting since 2010 for a major housing crash

Low production video. Not interesting at all to watch this.

These condos are tiny.

people are beginning to realize the emperor has been naked for a while

live in shoe box for rest of your life

The Socialist narrative vs the Capitalist narrative

BOC cut rates to 4.5% but still too high need -0.5% .. banks have to pay me to take a mortgage or real estate prices too high lol

There is no mass market for "larger" condos anywhere near current prices ..low income families can barely afford small old rental units in the city or townhomes 2 hours away