Back in 2010, I remember everyone was eagerly anticipating for the Vancouver real estate bubble to finally burst after the Olympics.

Result? The opposite happened.

Real estate bubbles are always an interesting topic that everyone likes to discuss. And talk about real estate bubbles has been even more of a hot topic this past month.

According to Experts in a recent article in the Toronto Star: “just under one-third (29%) believed Canada’s sky-high real estate prices could send Canada into a recession, while just over a third (38%) did not believe a recession would result, with another one-third (33%) unsure.” [1]

So what does this show? Well, it shows that we have:

  • ~1/3 of Experts who say yes
  • ~1/3 of Experts who say no, &
  • ~1/3 of Experts who are unsure

Well, that doesn’t help. It just shows that collectively the Experts are unsure.

Last Thursday, I was moderating the discussion “Will the Real Estate Bubble Burst?” with primarily real estate professionals and investors from across Canada. Perhaps I am biased, however it’s the Realtors and Investors, who are collectively ‘the Experts’ because they are the ones who are in the real estate trenches, and directly interacting with those who are buying and selling.

Conclusion from our discussion? With factors such as under-supply of housing, immigration to happen when borders opening up, and the Great Wealth Transfer from Baby Boomers to Millennials, as much as we all wanted the bubble to burst or at least deflate a bit, the overwhelming consensus is that there is not a foreseeable real estate bubble bursting in Canada (specifically Ontario) anytime soon.

My thoughts? Whenever people are expecting and wanting a bubble to burst, that bubble never bursts. It may deflate a bit, but it just continues to keep on growing.

Your thoughts?

 

Toronto Stats this Past week

MLS activity from April 20 to 27 for residential properties:

For Sale:

5,030

Newly Listed:

1,304

Sold:

616

↓ For Rent:

7,136

 

Compare the above to the week before from April 14 to 20 when there were 5,058 for sale, 1,551 newly listed, 658 sold & 7,506 for rent. The number of rental listings have been steadily declining with a bigger decline in the number of listings this past week.

 

Today’s newest listings

TORONTO HOUSES FOR SALE

Under $950k $950k to $1.2M $1.2M to $1.6M
$1.6M to $2M $2M to 3M Over $3M 


TORONTO CONDOS FOR SALE 

Under $500k $500k to $600k $600k to $700k
$700k to $800k $800k to $1M Over $1M

 

OTHER

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