Upcoming Prediction

I have Post City Magazines’ Real Estate Roundtable today which will be my 9th. Here are my predictions for the last 8 years.

2009:
Great time to buy because real estate bottomed out and was only going to go up (prices have gone up 180%).

2010:
That we were not in a bubble and that we would not have real estate prices bottom out again.
Leslieville, Riverside, and Liberty Village were undervalued and poised to explode and they did.
Real estate prices were going to continue to rise.

2011:
Going to be 80,000 sales and there was 89,096.
Toronto was not set up for a US-style real estate meltdown. Still a great time to buy.

2012:
Toronto is going to start becoming like New York with a scarcity of property causing more people to have to rent.
If you want a good investment to buy a house because there are no new houses being built and house prices are just going to continue to rise dramatically.
Toronto is not in a bubble.
Families aren’t buying condos but they soon will.
It was a good time to buy and that prices are going to continue to rise.

2013:
Prices were going to continue to rise with house prices rising more than condos
There was going to be a trend of more condos and fewer apartments with people renting condos.

2014:
Prices were going to continue to rise and single-family home prices were going to rise substantially.
2014 was going to be a better year than 2013 for real estate.
The City of Toronto was not willing to work with developers and now we are experiencing a severe supply crisis.
It was a good time to buy.

2015:
The trend of families moving from houses to condos has continued to shift from houses to condos, how there is no room in Toronto to build houses and that house scarcity is just going to continue to drive up prices.
How Toronto is a city that people want to live in and continue to move to driving up prices.
It was still a good time to buy a home/condo for investment or to live in.
I said that interest rates probably weren’t going to rise

2016:
I mentioned that the scarcity of land forces city dwellers to live in condominiums.
The fact that there is not enough single family home property for people to buy pushes the prices out of reach for the average person.

Condos are the one market that we can add inventory to.

I said that 2016 would be another strong real estate year for Toronto in terms of volume and pricing.

For the last 8 years, I’ve been firm on stating interest rates are not going up anytime soon.

8 out of 8 isn’t bad.