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Thread: When will the housing bubble finally burst?

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    Veteran Member UrbanOzz's Avatar
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    Default When will the housing bubble finally burst?

    so i can afford a damn home. Prices are so out of control here in Toronto.

    they've been saying for years and years now theres a bubble. they're saying right now theres a bubble, but there's never a damn bubble lol. They are saying houses were record prices in April, they'll say the same for May. this is nuts. Talk about boomtown.

    Toronto is going through a major transformation here and it's way too heated up. Things HAVE to fizzle out soon. i don't like how a house costs $700K, i'm sure i'd love it if i owned one but i'm on the other end of this looking for one.

    over the year i've tried to buy 4 houses and each time lost out because I didn't want to get involved in a bidding war. Everything is going for over asking price (which is high to begin with!)

    check this google image map of condo projects under construction currently. Everywhere you look, there are cranes dominating the skyline.

    the whole city is under construction.

    legend:
    WHITE = the project has had preliminary renders, but no application has been submitted.
    RED = the project has submitted an application to the city
    GREEN = the project has been approved, but has yet to start construction
    YELLOW = the project is currently in sales
    BLUE = the project is currently under construction




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    Banned Melonie's Avatar
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    Default Re: When will the housing bubble finally burst?

    as with all real estate, 'location location location'. Manhattan real estate prices haven't really fallen significantly either. The 'one percenters' have plenty of money / credit, and aren't afraid to spend it on things they value.

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