Thinking of moving back to Toronto after 20 years in US. The average price for a home in GTA is 650K, is this a bubble ? or is the price going keep going because of more and more Asians buying.
Jay
Jay
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Lived in Scarborough through the 80s...got out just before the worst of the Asian invasion.
You couldn't pay me enough to move back to Toronna. Traffic is a nightmare (Asians can't drive worth shit)...house prices are ridiculous. I've heard the average house price is closer to $1mil.
What's luring you back to Toronto? -
I used to live about an hour from there in a smaller city, but still a busy one. I've since moved further from Toronto lol.
A house I'm in now is huge and costs me fuck all and I'm surrounded by people I like with a decent yard.Comment
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I moved to toronto in 2008. Felt like it was a massive bubble back then. Bought and sold (should have bought and held). Is your purpose for moving to toronto an investment or lifestyle? I bought in london and it's massively overpriced here but it was in the area we wanted to call home so whether it's a bubble or not isn't really relevant.
I imagine in the next 5 years there could be some up and downs. But if you look 20 years from now that average price will be double what it is today.Comment
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I own a home in Toronto. I bought it in 2010 for 320k I could easily sell it today for 520k or more. I want to buy a larger home outside the city as we need the space. I plan on keeping this place and renting it out. As Shap said in 20 years it will probably be worth double what it is now.Bryan
skype: bryan.glass3 | ICQ 302999591Comment
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You can buy a house in Hamilton for what your down payment in Toronto would be. My place has doubled in value in 3 years. 45 minute drive from downtown Toronto (off peak)Comment
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I'll echo what most people said here - likely a good idea to buy for the long term.
We moved from Muskoka to Toronto 4 years ago, because we wanted to be back in a big city, so it was a lifestyle decision for us. We swapped (from a money standpoint) a huge lakeside house for a decent sized condo right downtown. We have zero regrets.
I guess you have to ask yourself: Why are you considering moving?AdultAdBroker - Buy and Sell Your Flat Rate Banners, Links, Tabs, Pops, Email Clicks and Members' Area Traffic - updated May 2026Comment
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Hamilton is over 500,000 people and so much more than Barton St and closed-down steel plants. Regardless, industry pays plenty of municipal tax, keeping my annual property taxes lower than a renter's monthly payment. It has pockets of good and bad, but lower Hamilton is appreciating like crazy, with nearly every listing ending up in a bidding war, and sold in a few days. Like I said, my place has doubled in value in 3 years. I like equity.Comment
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Its clever move to buy house i TorontoComment
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I suspect you may be right - the realty bubble has got to burst at some point.
We were lucky at the time we sold and got out - we bought low and sold for a very good profit in the late 80s.
A lot of Torontonians are looking at the Niagara region these days. Market values are very low and yet close enough to still commute to Toronto each day. If I was younger and could still tolerate the commute...that's what I'd be doing.Comment
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Actually the average detached home in Toronto is just over a million according to the star.
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