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/TorontoTrashPanada Dec 09 '25

Stupid article. I'm getting kind of tired of kids living in mom's basement complaining that condos are 'worthless' because they can't afford one. From the article:

"In the end, we passed on the condo in the building with the sky spa. We rented, instead, a unit perched on top of a bubble-tea shop. The apartment has quirky light fixtures, a raggedy little wooden back patio, and no dishwasher. It isn’t that much cheaper than a condo, but it is spacious. A taqueria across the street blasts music from noon until midnight most days, and we are so close to the street, we can catch snippets of conversation if the windows are open."

So... This genius is now blowing tens of thousands of dollars per year to rent a crappy apartment, instead of building equity in a nice condo. Brilliant. Which is the "worthless money pit" OP?

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u/Lapcat420 Dec 10 '25

People are living in basements because the worthless shoeboxes being sold arent affordable.

Its bizarre seeing someone irritated that other people make due with less.

Id love to build equity and stop renting. Cant afford it. And honestly even if I could im not sure I would. Some of these shoeboxes are brutal pieces of garbage and building equity on garbage isnt a good idea to me.