Really? Is There REALLY A Shortage Of Luxury Condos In Toronto?

No, there isn’t.

But open up the “newspaper” and you’ll be told that there is a shortage.  Only, that’s not really a newspaper…

My favorite part of one of the “articles” in this faux-newspaper was when they referred to the 110-unit condo project with ONLY 40 units left.

Only.

“Only” 40 units left.

That’s about 36%.

Good Lord.  If somebody makes a claim that “there’s a shortage of luxury condos for sale in Toronto” and tries to justify that by pointing at buildings where only 36% of the building is currently available for sale, then I don’t know what to make of it.

Do you know what a shortage is, in my mind?

Zero.  Like, zero, or maybe one or two.

You can say there’s a shortage of entry-level homes for sale in Leslieville.  Why?  Because right now there’s one.

THAT is a shortage.

36% of all units in an entire condominium, is not…

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  1. lui says:

    I didnt know your office was located at the basement of your building David.There is no shortage of luxury condos just a shortage of buyers who would paid for one that it any other major city would not be considered luxury.I seen some Hong Kong and New York entry level condos look better than the so call high end condos in Toronto.

  2. Ara says:

    Excellent video, David. Love your passion buddy!

  3. ABB says:

    I understand there are presently about 25 active listings at Ritz Carlton and 25 active listings at Shangri-la. Those totals represent about 15 percent in both buildings. That’s a GLUT in new 5-star buildings !!

  4. Geoff says:

    There was one a few months ago completely written by the Conservatory Group outlining how demand will continue to rise. I consider myself fairly savvy in picking up the “fake” stories but this one got me until I remembered the name from your post on the Governor’s Bridge Estates.
    http://www.torontorealtyblog.com/archives/governors-bridge-estates/1958

  5. George says:

    What isn’t paid for these days? Our government and our media sold out a long time ago. Everyone can (and probably has been) bought. If we can follow the money to who is paying for the voices we are listening to then we can analyze the validity of the messages we are receiving.

  6. Jeff Norris says:

    Shame on the Globe for tricking their readers like this in order to generate ad revenue. I get that the newspaper business is tough but this goes over the line in my mind.

  7. Harry says:

    I wouldn’t be too concerned about what appears in the Globe. It stopped being a national journal long ago when it abandoned its center-right readership to the Post. It targets Toronto Starbucks Socialists on more of a Star model now.

  8. ScottyP says:

    I saw that pullout, and nearly chocked on my quiche. More blatant misinformation than the usual fare. (The pullout, not the quiche.)

    Now… the “special features” you speak of may look like part of the newspaper, but how many readers actually *believe* they’re part of the newspaper? Hopefully not many do… and those few that do are going to get fleeced by someone, somewhere anyway.

TWEETS