Toronto Real Estate price is fucked

it's not exactly a lot in rural Mississauga/Pickering/Markham or whatever the fuck suburbs CSi prefer to live.

that's a very prime location, and frankly a pretty decent price for the lot.

dump 5-700k to build, and you'll have a nice $1.5M home, par for the course.

"It maintains its characteristic tilt because it lies on top of the Garrison Creek, which the city converted into a sewer system around the turn of the nineteenth century."

Desireable? Did you miss this part:



Screw that! No matter how good the location is.

I think the point is: It's not built on stable land. Even if you tear it down and rebuild, you'll still have a "tilt" to your new home.

But yeah. if shitholes are going for insane dollars, it just proves that we're at the "insanity level" of the real-estate market. Reminds me of the States back in 2008.

and unlike the states in 2007/8, the banks are not giving out mortgages to min. wage workers. houses are not leveraged to the tits, and risky mortgages are not being packaged and sold as creditworthy products.

True. But ridiculous prices for shitholes was the norm just before the market crashed in the states too. Since we're seeing that now, what's next?

If this were a normal market, that slanted house wouldn't see any buyers at all no matter how low the price is. That's what i was trying to point out.