Recently a house sold that had the industry buzzing, and it showed up on a bunch of realtors’ social media feeds. Unfortunately I can’t provide the address, owing to bureaucratic reasons that go way beyond me, but anybody can find it on House Sigma within a couple of minutes if they are so inclined. The house itself was a perfectly nondescript, dated 2 bedroom semi with no parking and an unfinished basement. It was located in the Danforth and Victoria [...]
Social media bombards us with an artificial view of the world. Everything is always perfect, and everybody's skin is always creamy smooth and acne free (don’t get me started on those ridiculous filters that literally make people look like cartoons). We get a never ending barrage of people sitting on a beach “living their best life”. The real estate social media world tends to be similar. We see posts about glowing customer testimonials, happy sold over asking stories, motivational quotes [...]
Some quick cuts and random thoughts from the cottage dock, as we sit in the dog days of August with the Fall market and sub zero temperature rapidly looming. The Real Estate Market Has Hit Rock Bottom Like the hopeless alcoholic chugging cough syrup at 7 am in the Shoppers Drug Mart parking lot, I believe the real estate market has hit rock bottom. The average GTA price came in at $1.074,000 for July, down from the peak of $1,334,000 [...]
“What’s in a name? That which we call a rose by any other name would smell as sweet.” - William Shakespeare. I’ve always been fascinated by names, for as long as I can remember. More specifically, bad or funny names, certainly not ones that smell like a rose. I still laugh out loud at the scene from The Wedding Singer where Drew Barrymore realizes her married name will be Julia Gulia, and her tool of a fiance can’t see why [...]
“Wrong way on a one-way track.” - The legendary Soul Asylum. One of the most surprising developments of the Pandemic has been the unstoppable price growth of GTA real estate. Imagine fire on a gasoline trail with some kerosene thrown in for good measure, and that’s how fast prices have gone up. With the benefit of hindsight we now know why and how we got here, but I can tell you that on the ground level this unprecedented price growth [...]
The Market Watch stats have come in for the GTA for the month of September, and like the titular Green Day song it’s an emotional roller coaster, and ultimately a tear jerker. The stats are insane, difficult to comprehend and to my eyes deeply concerning. Allow me to present the meatiest morsels: Active listings DOWN 49.4% vs September of last year. New listings DOWN 34% vs September of last year. Average sale price UP 18.3% vs September of last year [...]
In a perfect, utopian society everything would move forward smoothly. People would do what they are supposed to do, and say what they are supposed to say. Pandemics would be relegated to the history books, and kumbaya would be sung around campfires across the world. Manly men could even admit they like 90 Day Fiance and the awesomeness that is Big Ed, without fear of extreme derision and scorn... Governments would deliver on their promises to provide affordable housing AND [...]
It’s Election time and the ridiculous political statements about “fixing” the housing market are flying. Politicians, and articles like this, always miss the point. 1) They always focus on the DEMAND side and not SUPPLY. Real estate is a free market, and when demand far outstrips supply prices rise dramatically. That’s Simple economics, like a kid with a lemonade stand. If a problem is perceived, the only solution is to increase supply. 2) There is nothing to fix. Toronto (and [...]
Can anybody really believe we are more than a year into this pandemic, and things seem worse than ever before? With another lockdown in effect, schools and restaurants closed yet again, and vaccines rolling out at a glacial pace things seem grim, real grim. Like Armie Hammer’s current career grim. There have been many daily rituals that have kept me going over the past year, one of which is making sure I laugh out loud a few times a day. [...]
Overheard recently at Starbucks. Exasperated Buyer (loser of 8 bidding wars): I’ve had it. My wife is 7 months pregnant and I am sick of spending every Saturday with you. I want to bid $1.8 on the semi on Prust Ave. Well Meaning (but increasingly desperate) Agent: You mean the one listed at $1.2, with the leaky basement and knob and tube?? Exasperated Buyer (loser of 8 bidding wars): Yep, that’s the one. Well Meaning (but increasingly desperate) Agent: Ok. [...]