Canada's condo crash "Condo prices are still plummeting in parts of this country and it's causing major money troubles for people who bought in early."
"…No one escapes. Every single person is closing on a unit that they bought five years ago that's worth less than what they… pic.twitter.com/AbZ3IjSDjd
— cbcwatcher (@cbcwatcher) February 23, 2026
Now, factor in the crash coming to vacation condos in Mexico.
How ’bout them Leafs, eh?
Wonder if any demographic is getting it in the shorts re condos??
The elderly.
Their daughters and daughters-in-law, underwater on their condos, will be needing their payday sooner than expected, courtesy of MAID.
I have to laugh at the buyer who said he didn’t know this could happen. Can people be so stupid as to not read their contracts? I have no sympathy. Stupid Canadians.
“Can people be so stupid as to not read their contracts?”
No, not really. Because his lawyer/agent read it and told him what it said. If he ignored the lawyer because all he could see was sunshine and rainbows, that’s a different matter.
But people can LIE later on and -pretend- they didn’t know this could happen, to gain sympathy. Which is even more contemptible, IMHO.
“That would never happen to me.” is a line many people tell themselves.
We’re about to find out the consequences of large numbers of people having a balance sheet in which their liabilities are worth more than assets. The ridiculous adage “hold until maturity” is no help if you have to sell due to a death, a sudden need for capital or a career change requiring a change in residency.
I’ll go for maximum cynicism again and speculate that the condo crash will result in politically connected corporations getting those properties for pennies on the dollar. Then the Canadian government will give those corporations taxpayer money, at greatly inflated rental rates, to house immigrants, foreign students and asylum seekers.
Every single time.
“I’ll go for maximum cynicism again…”
I don’t think that’s cynicism, LC. At this point I think it is obvious that’s the plan. Mass immigration, jack up taxes, ruin the middle class, take their money, destroy their assets, make them shut up and sit still for it.
Say what you want about the Nazis, at least they conquered and destroyed OTHER PEOPLE’S countries.
In today’s world, extreme cynicism can be defined as simply watching the trendline and extrapolating it into the future. Everything that you see happening in the UK, western Europe and Minnesota is already here or will be here soon. Bad government policies pass between these nation’s political class like a bong at a frat party.
L – All those so housed on your list are income subsidized by the gov’t. via ever increasing debt financing. One of the memes used to describe the present state of Canada is, that of a beached whale carcass, being eaten by scavengers.
The faster the Monarchy of Canada burns to the ground, the faster rank and file Canadians can bust out the pitchforks an eradicate the ruling elite progressives and their semi-retarded minions and re-incorporate Canada into the Republic it needs to be.
Exactly!
Last time I heard it was one asshole one vote in Canada. Canadians seem to vote to tear down their own economy. Monarchy? WTF are you talking about?
Please for the love of God take a civics lesson. Furthermore, exactly zero political executives are elected to their positions. PM’s, Premiers, Senators, Judges and the list goes on and on, are patronage appointments by….The King of Canada!
Somewhere in my distant past I seem to recall a degree in political science but…. The King of Canada appoints one official, the Governor General, on the recommendation of the Prime Minister. The rest are appointed by the Prime Minister or by the Governor General on recommendation of the Prime Minister. Let me know how that civics lesson works out.
CBC is late to the game. I have been watching the Ron Butler videos on youtube for at least one year. He was highlighting these problems then, we are just seeing the fulfillment of his predictions. He is and has been a private mortgage broker for over 40 years. He saw the downturn in the early 1990’s, saw the crap happening in 2008 and now this. The economy (especially real estate) is Always cyclical!
Our youngest brother was an accountant and his favorite saying was “Pigs get fat, hogs get slaughtered!” In other words, do not be greedy!
Condos at $1200 to 1600 per square foot never made sense, and of course the largest amount of condos built and sold were sub 500 sq ft, because that maximizes the number of units available at the lowest development fees having to be paid to the government