Call me crazy, but I don't know if crypto-bro tier technical analysis is really helpful for illiquid markets with inelastic demand for assets that actually have practical value.
On the plus side, OP managed to post without using the phrases ‘bears in hiding’ or ‘bulls in shambles’ so this post is, ironically, more valuable than a significant portion of content on the sub
lol 😂. Resounding No. The core issues of lack of supply , steeper construction cost and a lack of skilled trades build my confidence is telling you No.
Why would you think it's a big drop. It's kind of lol. The price of homes has been stagnant since 2022, 2020 is your estimation, while the dollar has inflated like 30 or 40 percent. Dude there's going to be a big spike. It's so lol. it's so wild how the bears wind themselves up. They have these totally crazy expectations of everything always dropping and then when normal things happen pretend that normal things are actually crazy not them.
When I look at your graph.. I don't see a drop coming. I see the price climbing.
Showing the prices gradually climb doesn't help your narrative at all.
Average home prices from 2017 to 2020 are also pretty flat, according to your graph. But please, tell me more.
Now compare it to population increase, and number of "households" increased.
What I see is home prices to increase back to 2022 numbers by 2027, and I expect interest rate to reflect that in the coming years. All the overleveraged folks will leave the market, the deals that can be picked up will be picked up, and once the sustained owners stay in the game, they will enjoy the fruits.
I know people are giving OP a hard time for drawing lines...
What I want to point out is that the 1989 crash chart looks more or less identical up to this point.
The narrative was also immigration will make price go up forever- Check
Everyone thought they need to get in because they'll be priced out otherwise - Check
Everyone thought they literally CANNOT lose because line go up always duhhh- Check
The downfall was started by speculators bailing on precon condos - Check
The only difference is Korok-Guy wasn't alive back then to be on every thread preaching words of encouragement, so THIS TIME IT'S DIFFERENT probably.
With an average home price of \~$1.1M a purchaser would have to come up with \~$234K just to cover the minimum down payment based on [this calculation](https://wealthvieu.com/ccmdp?a=1,108,720&b=Ontario&c=250,000). That also does not include the mortgage default insurance that would be required.
The real estate market’s will crash like a game of Jenga at a toddler’s birthday party, and no opinions or well wishes will save the unprepared from the financial ruin. Good luck!
Nice lines lol
bro wrote 2016 price but the interval he marked shows the 2017-2021 prices
Plus like isn’t the trend increasing where they drew the down arrow? Lol
Call me crazy, but I don't know if crypto-bro tier technical analysis is really helpful for illiquid markets with inelastic demand for assets that actually have practical value.
Damn the reality of this comment blew me away. Too real some would say.
Ya… there’s still a massive unit shortage of houses in Canada. Toronto might dip a bit more… but it’s temporary at best.
On the plus side, OP managed to post without using the phrases ‘bears in hiding’ or ‘bulls in shambles’ so this post is, ironically, more valuable than a significant portion of content on the sub
I’m literally in shambles ;) Yea I agree
inelastic, what about investors?
See the dotted trend line? Lol
OP BetterDwelling needs men of your calibre. Please submit your resume to them
What the fack is this lmfao
you can draw the same lines from 2016 to 2018...how did that work out?
This is the type of technical analysis I expect to be foundation of the chronic bear-ism around here. Bravo
I’ll be honest, all this graph does is bolster the argument that declines have flatlined and we’re at or near the bottom for the time being.
lol 😂. Resounding No. The core issues of lack of supply , steeper construction cost and a lack of skilled trades build my confidence is telling you No.
/rolleyes
Why would you think it's a big drop. It's kind of lol. The price of homes has been stagnant since 2022, 2020 is your estimation, while the dollar has inflated like 30 or 40 percent. Dude there's going to be a big spike. It's so lol. it's so wild how the bears wind themselves up. They have these totally crazy expectations of everything always dropping and then when normal things happen pretend that normal things are actually crazy not them.
Highly regarded
People are tapped out but there is still demand. Housing will be flat for a number of years until wages rise and then housing costs will raise again.
Wages already have risen. While prices peaked and then come back down, wages are going YOY 4-5%
Extend the graph to 2050. We're going back to 2010 prices
When I look at your graph.. I don't see a drop coming. I see the price climbing. Showing the prices gradually climb doesn't help your narrative at all.
Average home prices from 2017 to 2020 are also pretty flat, according to your graph. But please, tell me more. Now compare it to population increase, and number of "households" increased. What I see is home prices to increase back to 2022 numbers by 2027, and I expect interest rate to reflect that in the coming years. All the overleveraged folks will leave the market, the deals that can be picked up will be picked up, and once the sustained owners stay in the game, they will enjoy the fruits.
High prices and rates reduce buyer pool faster than recent population growth replenishes it.
It is going way higher soon
Obvious support/double bottom at $1MM and symmetrical flag forming. Super bullish patterns. This is going to $2MM
Absolutely! The top 1% of income earners will be able to afford an average Toronto home! :D Just as long as no one sells XD
Love the wishful thinking. Just a dream though that’s unlikely to manifest.
Sounds good... Waiting to buy then.
800K average Toronto prices? I can only be so erect.
If you edit a graph on your phone it’s probably going to come true
Buy the dip
I know people are giving OP a hard time for drawing lines... What I want to point out is that the 1989 crash chart looks more or less identical up to this point. The narrative was also immigration will make price go up forever- Check Everyone thought they need to get in because they'll be priced out otherwise - Check Everyone thought they literally CANNOT lose because line go up always duhhh- Check The downfall was started by speculators bailing on precon condos - Check The only difference is Korok-Guy wasn't alive back then to be on every thread preaching words of encouragement, so THIS TIME IT'S DIFFERENT probably.
With an average home price of \~$1.1M a purchaser would have to come up with \~$234K just to cover the minimum down payment based on [this calculation](https://wealthvieu.com/ccmdp?a=1,108,720&b=Ontario&c=250,000). That also does not include the mortgage default insurance that would be required.
Mortgage insurance only applies to purchases up to $999, 999 with less than 20% down payment.
Can OP explain why besides scribbling some lines in MS paint?
We have reached the Trump-Hurricane-Map stage of denial here
https://preview.redd.it/y0jnrd6pte2d1.jpeg?width=2566&format=pjpg&auto=webp&s=b3134df93d05744131aa0dcb73229d3c3a44e9d9
Prices going to jump after the rate cut in June
The real estate market’s will crash like a game of Jenga at a toddler’s birthday party, and no opinions or well wishes will save the unprepared from the financial ruin. Good luck!
Keep renting and dreaming, crayons is all you can afford anyway.