You are mistaken on this topic much as some posters have been at several points since the year 2010. My place is worth at least 300% more then I bought it. It's costing basically nothing to carry these days and I have a decent sized place fairly close to everything. I'm not interested in speculative trading of real estate. What I posted August 2010 on this topic in reply to similar ideas on Canadian real estate at the time : Should I go over the real data since then ? Very few if any American real estate markets were better investments then anything in Toronto from August 2010 to now. So I was bang on forecasting this in 2010. You may think you have a crystal ball but I have serious doubts. Not that I care at all what the prices do the next 4 years. I suppose you could short Canadian banks as was a popular American recommendation back in 2010 and 2011. But do note I am recommending buying the very same banks and have done so since March.
2010 was the buying opportunity everywhere. Plenty of the places in the States have realized that return. The last recession ended in 2009. Some are calling what we are in now a recession and perhaps it is by definition using GDP etc, and perhaps it hasn't played out yet. Another 100% means your house doubles. Do you really think wages up there will double? Who's gonna buy it? Trust me, your market is gonna flatten out at a minimum. But like you said, you're comfortable so in the end that's all that matters I suppose.
What you are missing here is housing prices in Toronto didn't really correct at all from 2008 to 2009 like many American centers did. In fact, that was the premise of some American posters in 2010; our real estate corrected so Toronto real estate had to correct. They were wrong. Not only did numerous posters on here and several US based hedged funds disagree that it was a "buying opportunity", they wanted to short the market somehow. If the economy goes bad, you want to be in areas of relative strength and value.
Well, I admit I have never once looked at or monitored the Toronto RE market so in that regard unlike most et'rs, I'll take your word for it and move on.
I will have to agree that Nine_Ender is correct bout the Toronto real estate market. The prices are through the roof and the market has never corrected. Most analysts including many of the local Toronto media outlets and real estate financial analyst firms do not understand why the Toronto real estate market has not corrected --- nor is there a clear understanding of what is propping up the market. I was one who firmly believed a while ago that the Toronto real estate market would correct.
If true, it would be the first time that 9_Effer has ever been right about something that he has contended on the board.
Both sides always claim victory in these debates so that fact that there is some impartial determination who "won" is laughable since there is no winning a political debate...you just make your pre-arranged and practiced bullshit statements no matter what question is asked.