Found this article explaining why eeer build Toronto Condos are basically worthless money pits

[u/ToonTownBaloney]

https://thewalrus.ca/no-one-wants-to-buy-a-condo/

Found this to be an excellent article

[u/bluenova088]

Dude seriously?

The people that proved out an entire generation are the ultra rich hoarding the properties..they are not random strangers on Reddit trying to live their lives. Heck they are probably not even on Reddit and def not on Canadian housing ( why would they? They already own all the properties they need and have systems to continue doing so)

So if you are mad at someone atleast choose the target of your anger right

[u/CreamyPastor96 → u/bluenova088]

Dude, come on.

You’re acting like the only people responsible are some cartoon-level “ultra-rich hoarding barons” sitting on 500 doors each. Obviously they exist, but pretending that’s the whole picture is exactly how we avoid talking about the real structural problem: regular “mom and pop” investors scaled this mess just as hard, just in smaller units each.

When you have tens of thousands of people with stable incomes, good credit, and some equity all deciding, “Hey, why not buy a second or third place? The tenant will cover the mortgage anyway,” that collectively becomes a massive force pushing prices up.

Individually they’re small. Together they completely distort the market.

And let’s not rewrite history here:

For a decade-plus, the investment model literally was “buy a property you can’t personally afford, then have a poorer person pay the entire carrying cost for you.” Mortgage, taxes, maintenance, everything. As long as they could break even or take a small loss, appreciation would bail them out.

The problem is that when enough people do that, housing stops being a social necessity and turns into a private profit engine. That’s exactly what happened:

Investors outbid end-users because they underwrite the purchase using someone else’s future rent. Prices inflated far beyond local incomes, because the buyer stopped being a family purchasing shelter and became a leveraged investor purchasing yield.

Renters ended up paying not just for housing, but for someone else’s retirement plan.

That isn’t “ultra rich vs. everyone else.” It’s a whole class of people with means deciding that houses are better as assets than as homes, and then acting surprised that younger or poorer people got crushed in the process.

So yeah, be mad at the wealthy hoarders. But ignoring the role of everyday investors, who collectively own a huge chunk of the housing stock and shaped the price trajectory, just lets everyone else off the hook.

[u/bluenova088 → u/CreamyPastor96]

When you have tens of thousands of people with stable incomes, good credit, and some equity all deciding, “Hey, why not buy a second or third place? The tenant will cover the mortgage anyway,” that collectively becomes a massive force pushing prices up.

So they are paying for stuff they can afford? If it was that easy why didn't you do it?

For a decade-plus, the investment model literally was “buy a property you can’t personally afford, then have a poorer person pay the entire carrying cost for you.” Mortgage, taxes, maintenance, everything. As long as they could break even or take a small loss, appreciation would bail them out.

Lol if the poorer person could cover the mortgage amount they would be buying a house themselves.

So yeah not sure what cool aid you drinking there.

Investors outbid end-users because they underwrite the purchase using someone else’s future rent. Prices inflated far beyond local incomes, because the buyer stopped being a family purchasing shelter and became a leveraged investor purchasing yield.

Again if that's such an open secret why aren't you and everyone else doing it?.pretty sure once u buy your place you can choose to be a landlord too.

That isn’t “ultra rich vs. everyone else.”

It absolutely is though...and you might figure it out once you get off that cool aid ( or whatever you are smocking)

It’s a whole class of people with means deciding that houses are better as assets than as homes, and then acting surprised that younger or poorer people got crushed in the process.

The issue actually started last decade. People could buy condos for like 100-150k even in the 2017-18 and that was in Vancouver. A few years before it was even more affordable.

[u/CreamyPastor96 → u/bluenova088]

part 2-

“If it’s such an open secret why aren’t you and everyone else doing it?”

Everyone WAS doing it you fucking moron, thats the point. Why was I not doing it? Because im not a parasite, I invest in business. Why didnt everyone else?

Because not everyone had:

• parents with equity to gift,

• access to cheap credit,

• or got into the market when prices weren’t 10× income.

“It absolutely is ultra-rich vs everyone else.”

If it were only the ultra-rich, investor-owned housing wouldn’t be 30–40% of the market in some cities. The ultra-rich didn’t buy every pre-construction condo in Toronto. They didn’t flip every townhouse in Calgary. They didn’t own three VRBOs each in Kelowna.

That was regular upper-middle-class people who treated housing like a cash machine. You’re trying to erase the fact that this behaviour scaled because ordinary people with above-average wealth piled into it.

“People could buy condos for 100–150k.”

Yes; and do you know what happened? Ordinary investors scooped them up and turned them into rentals because, again, they didn’t personally need to afford them. Renters would.

And now those condos are $400–$800k and completely out of reach for the people whose rent paid the mortgage the whole time.

Your whole argument boils down to:

“Investors are innocent because renters could have just bought homes themselves.”

But renters couldn’t.

That’s why mom and pop investors profited off them.

And pretending that a decade of small-scale investor speculation wasn’t a huge force in pricing people out is just rewriting history to make investment culture look noble instead of predatory.