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<title>blogTO Recent Comments: Want a Condo? Take a Number</title>
<link>http://www.blogto.com/feed/recentcomments/?9121</link>
<description>Comments recently made in this post on blogTO</description>
<copyright>Copyright 2009</copyright>
<lastBuildDate>Sun, 22 Nov 2009 06:29:50 PST</lastBuildDate>
<item>
<title>ayl</title>
<description><![CDATA[
Is this also the day they released it to the owners of CP1 and CP2? The Aura floor plans are just too ridiculous, but for investors with money that's just sitting in the bank anyway, definitely a good nab. 

The CP2 unit a family friend has easily made $100K from the time of pre-construction till now. It gives hope to my box in CP2! ]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271522</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271522</guid>
<category>Toronto, City</category>
<pubDate>Mon, 24 Mar 2008 00:30:59 PDT</pubDate>
</item>
<item>
<title>0.01%</title>
<description><![CDATA[
1.  They are mostly Asians because there are enormous pockets of capital in Canada that are buying pre-construct condo units 10 at a time.  Each one these buyers probably represents 10 sales.  They are the group that is primarily fueling this unsustainable rally.  The giant oversupply caused by all this speculative buying will hurt the market exactly as it has in Miami, Arizona, Las Vegas, etc.  All fast growing areas incidentally.

Toronto is certainly recover and I agree that over the longer term (10+ years) you can probably count on 4%+ annual returns given the projected positive immigration however,

in the next few years things could very easily get ugly in this market.


As far Toronto being cheap by world standards, all I can do is laugh.  What do apartment prices in Toronto have to do with apartment prices in New York?  If you live in NY I don't think that it is practical to commute from your CityPlace apartment!

It's like saying that golf club memberships in Toronto are cheaper than golf club memberships in San Francisco so buying a golf club membership in Toronto is a smart move!  LOL!

Why do people fall for this illogical marketing trick so easily?]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271418</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271418</guid>
<category>Toronto, City</category>
<pubDate>Sun, 23 Mar 2008 11:11:38 PDT</pubDate>
</item>
<item>
<title>jack</title>
<description><![CDATA[
interesting...you think there is only ONE culture within the asian community? even within the chinese community, it is already multiculture]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271401</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271401</guid>
<category>Toronto, City</category>
<pubDate>Sun, 23 Mar 2008 08:35:29 PDT</pubDate>
</item>
<item>
<title>Vic</title>
<description><![CDATA[
Is this a photo of Hong Kong or Toronto?  Every SINGLE person is Asian. Where is our supposedly glorious multicultural city? ]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271354</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271354</guid>
<category>Toronto, City</category>
<pubDate>Sun, 23 Mar 2008 00:47:01 PDT</pubDate>
</item>
<item>
<title>Jack</title>
<description><![CDATA[
ok, let me answer the question why they are all asian... reason being asians are brought up to believe in home ownership.. I once remember an uncle telling us.. whenever you move to a new place, first thing to do is buy real estate! His parents were immigrants from china to taiwan, and they became very well off with this strategy...essentially, when you buy, you force yourself into saving. In the long run, property value ALWAYS goes up.. the increase covers the mortgage you paid..etc.. also home ownership is a status symbol in Asia..if you are renting, you are "nobody" among your asian friends and relatives.. for the guys, if you don't own a property, no women will be interested in dating you.. it is this simple.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271317</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271317</guid>
<category>Toronto, City</category>
<pubDate>Sat, 22 Mar 2008 17:41:51 PDT</pubDate>
</item>
<item>
<title>Oscar</title>
<description><![CDATA[
Why are you all white?  They are all Asian because they were born that way.  How 'bout you?]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271114</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c271114</guid>
<category>Toronto, City</category>
<pubDate>Fri, 21 Mar 2008 09:46:19 PDT</pubDate>
</item>
<item>
<title>Andrew (author)</title>
<description><![CDATA[
OK I give...My attempt at an answer to the question that seems to be on everyone's mind:

First off, they were not all Asian, it just looks that way from this particular photo. There were over 200 people there and trust me, they were not all Asian.

Next, many of them are Asian because many of the agents were from a particular Real Estate brokerage that has a very strong connection to the Chinese community and this particular brokerage worked very closely with the developer on CP1 and CP2.

Finally, anecdotal evidence suggests many Asian buyers are attracted to TALL buildings. Aura is supposed to be 75ish storeys tall making it one of the tallest if not the tallest residential building in Canada.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270997</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270997</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 17:11:23 PDT</pubDate>
</item>
<item>
<title>Adam</title>
<description><![CDATA[
This string of comments is cracking me up so much. Honestly, I'm kind of curious to know myself now.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270992</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270992</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 16:53:49 PDT</pubDate>
</item>
<item>
<title>jill again</title>
<description><![CDATA[
why are they are ALL Asian????]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270943</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270943</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 11:59:49 PDT</pubDate>
</item>
<item>
<title>popo man</title>
<description><![CDATA[
As for that link that was posted, yes real estate is down 18%, but the article says sales for condos in the downtown core are actually up double digits:

Toronto's Downtown core (C01) has also experienced healthy sales activity so far this month, due to strong condominium apartment sales as well. Overall sales in this area were up 11 per cent compared to a year ago.
]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270934</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270934</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 10:56:29 PDT</pubDate>
</item>
<item>
<title>Dave</title>
<description><![CDATA[
I think the bigger worry is going to be what happens to all those condos in 5 - 10 years when the young and single/couples start having families.  You're going to raise a child or two in 850 sq ft?  With a two bedroom?  Not going to happen.  There's going to be a huge exodus at some point and most people will probably have a hard time selling their condos.

Another reason why these aren't a good long term investment - take a look at how hard it is to sell condos that are 5 - 10 years old.  There's too many new ones going up!]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270918</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270918</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 09:18:25 PDT</pubDate>
</item>
<item>
<title>jill</title>
<description><![CDATA[
Can someone, for the love of god, tell us why they are ALL Asian????]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270884</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270884</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 04:42:10 PDT</pubDate>
</item>
<item>
<title>Tata</title>
<description><![CDATA[
I'll be the fourth person to ask......WHY ARE THEY ALL ASIAN? Will a gold cat waving it's right paw be part of the design? I don't get it.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270877</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270877</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 03:46:25 PDT</pubDate>
</item>
<item>
<title>Rich</title>
<description><![CDATA[
No, really. Why are they all Asian?]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270859</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270859</guid>
<category>Toronto, City</category>
<pubDate>Thu, 20 Mar 2008 00:12:07 PDT</pubDate>
</item>
<item>
<title>jack</title>
<description><![CDATA[
the reality is that people who bought CP1 or CP2 a few years ago based on floor plan, now easily make over $100k per unit if they decide to sell... same with the Met.. as for why living in downtown.. well, I used to live in uptown for almost 10 yrs, got really sick of the traffic and subway, which is NEVER reliable, plus the commuter parking lot at Finch is a joke.. so I have decided to live closer to work in dt... as for the view..I live on high floor, it is absolutely stunning! imagine you can see the lake, the city, and firework on July 1st and air show in the summer.. it is worth it..I would have bought a few more units in cp1 or cp2 if i had the money... probably not cp2(aura) coz the floor plans really suck]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270830</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270830</guid>
<category>Toronto, City</category>
<pubDate>Wed, 19 Mar 2008 22:39:11 PDT</pubDate>
</item>
<item>
<title>Proud Canadian</title>
<description><![CDATA[
Andrew, 

No "doom and gloom predictions" here my friend.  Just cold hard facts.  The proof is in the pudding.

Real Estate sales in Toronto down 18% again for the month of March from the same time a year ago.  Its the 3rd month in a row that has shown a double digit sales drop.  

See a trend?

Toronto Real Estate Board Says GTA Resale Housing Market Still Down in March

http://www.marketwire.com/mw/release.do?id=834284&k=toronto%20real%20estate%20board]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270826</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270826</guid>
<category>Toronto, City</category>
<pubDate>Wed, 19 Mar 2008 21:33:07 PDT</pubDate>
</item>
<item>
<title>tommy</title>
<description><![CDATA[
In the next 25 years the population of the GTA is forecasted to increase by at least 2 million (40%). Prices may not go through the roof in the next few years due to the current economic climate, but basic economics dictates there will be a very large demand for homes/condos for the foreseeable future.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270721</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270721</guid>
<category>Toronto, City</category>
<pubDate>Wed, 19 Mar 2008 16:29:42 PDT</pubDate>
</item>
<item>
<title>Patrick</title>
<description><![CDATA[
Danny, have you SEEN how many condos in the core are for rent nowadays? The market is flooded. Anyone who says there's no speculation in this market is kidding themselves.

Still, I hope you are right.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270717</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270717</guid>
<category>Toronto, City</category>
<pubDate>Wed, 19 Mar 2008 16:19:01 PDT</pubDate>
</item>
<item>
<title>Patrick</title>
<description><![CDATA[
I agree with you, mac. But I'd add this:

Any time you hear "it's different this time around" in reference to a massive runup in housing/stock/tulip prices, you should probably be skeptical. 

Trust me, I've seen it before and been burned. Smart money never buys during a mania.





]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270713</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270713</guid>
<category>Toronto, City</category>
<pubDate>Wed, 19 Mar 2008 16:14:20 PDT</pubDate>
</item>
<item>
<title>mac</title>
<description><![CDATA[
Here's a tip.  Once the milkman, the doorman and every blue collar worker in-between start talking about how great an investment is, it's usually set to collapse. (if hostory is any indication).  Caveat emptor.]]>
</description>
<link>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270707</link>
<guid>http://www.blogto.com/city/2008/03/want_a_condo_take_a_number/#c270707</guid>
<category>Toronto, City</category>
<pubDate>Wed, 19 Mar 2008 15:33:45 PDT</pubDate>
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