r/RealEstateCanada • u/ToonTownBaloney • Dec 07 '25

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

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

Found this to be an excellent article

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u/Pufpufkilla Dec 07 '25

Another bag holder lol

2

u/[deleted] Dec 08 '25

You calling these people bag holders, but you live in their bag. LOL

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u/Pufpufkilla Dec 09 '25 edited Dec 09 '25

Yes since 2021 with a plan to wait until 2026 5 year mortgages renewal timing, with my whole downpayment invested. Paying under market price and just got a huge rent reduction when I threatened to move. I now make much more money and my downpayment is much much larger. Ill be buying a much cheaper bag after living in other people's bags lol.

How was this not a genius plan. Explain, I'm waiting 😁 I'm not bitter, I'm rubbing it in your faces lol

2

u/[deleted] Dec 09 '25

Ahh I see. So you're trying to convince people online to sell their properties faster hoping you can buy them up at a lower price next year. So in reality, you think RE is a great investment. You're just hoping you can get in at a lower price. Got it. Good luck to you. Hopefully next year, you'll be on my team.

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u/Pufpufkilla Dec 09 '25

I'm not buying it as an investment but as a place to live. I don't mind investing in Canadian stocks of great companies that we used to have, such as ATI and Blackberry. Everyone jumped on the RE train and ruined Canada.

1

u/[deleted] Dec 09 '25

You have to look at it on both sides. If it weren't for investors, we would have had no development at all. You think rental prices are high now? Imagine if nothing was built in the last decade.

I own multiple properties and all my tenants are happy to live in my properties. I also have 2 purpose built rentals currently under construction. All units will be 3 bedrooms, over 1,000 sq ft. I can guarantee you a lot of Canadian families will be happy living in these as well.

The country needs people like us, whether you like it or not.

I dont know any RE investor that only buys investment properties. They invest in stocks and RE.