MaximumVenture Forum

Canadian Business News Forum

News and topics for Toronto and the GTA including Markham, Mississauga, Vaughan, Rich Hill and Brampton
#21
Good article here about the condo market in downtown Toronto:

The loss of $260 (approx. 200 USD) they mention doesn't include things like condo fees and other expenses. I guess it's ok if you have another source of income to make up the difference, but not sustainable for retirees.

I guess it really depends on how long it will be until the rates rebound (I'm assuming they will in a few years)
With condo rents on the Toronto Regional Real Estate Board’s listing service down 17 per cent from a year ago, research firm North Cove Advisors Inc. calculated that an investor paying today’s benchmark price of about $600,000 a unit, using a mortgage with a 20 per cent down payment, would wind up paying US$200 more each month than they collected in rent.
https://www.bnnbloomberg.ca/toronto-s-l ... -1.1533968