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Articles by David Fleming
Toronto Realty Blog
I was looking at a floor plan for a condo last week, wondering how in the world this ever came to be. We’ve reviewed a lot of bad floor plans over the years here on TRB. Case in point: “The Problem With New Condo Floor Plans” The truth is, the floor plans reviewed and analyzed in the blog post above are much worse than the one I’m about to show you, but let me come back to that in a moment. First, just look at this: Don’t glaze over this, please and thanks. Have a serious look at it.
Toronto Realty Blog
Many of you cringed when you read the title of today’s blog post. You were a bit anxious to read this. When you had your home listed for sale, you listened to conversations between buyers and their agents through your Ring doorbell. It was fine though. In fact, it was essential. You had to know what was going on, what was being said, and what your prospects for a sale were.
Toronto Realty Blog
You’re smarter than the rest of us. You have it all figured out. You don’t believe in the value of a real estate agent, but thankfully, your cousin Mandy, who lives in Burlinton and is a part-time spin instructor and part-time real estate agent is willing to work for you for free, or close to it. I could go on. I could talk for hours on this.
Does It Really Take Three Years To Sell A House In Toronto?
People do crazy things, right? I mean, I just started watching the fifth season of “You” on Netflix even though that show totally sucks, and I said I wouldn’t watch the fourth season after I hated the third season. Don’t tell me how it ends.
Toronto Realty Blog
Put on your tinfoil hat, folks! And get ready to explain how and why the moon landing was faked. I mean, it’s not like you could launch a rocket from a round earth, right? But seriously, I’ve heard multiple times this year, and from several different people that the GTA average home price is somehow misleading. More specifically, I’ve been told that the average home price is being “propped up” by a change in market dynamics. What do we mean by this?
Toronto Realty Blog
I really wanted to post a follow-up to Monday’s blog today. It seemed logical to follow Monday’s stats blog with yet another stats blog, not to mention, one that’s related to Monday’s topic.
Monday Morning Quarterback: Should The Government Make Home Prices Fall?
Pop quiz: what is the “housing crisis?” I had actually planned to write an entire blog post that examined this question (but not necessarily the answer), but then last week’s news cycle came along. We’ll get to that in a moment. But if you had to define the housing crisis, what would you say? I have some thoughts on this, in case you weren’t already aware… My thoughts won’t be popular (I’m expecting a 70/30 split today) but at the same time, they won’t be untrue.
Toronto Realty Blog
Sooooo…….any plans for the long weekend? Not me! I mean, I do have plans, but when people ask about “long weekend plans,” they’re typically insinuating that these plans are taking place outside of the city. Everybody has a cottage up north, right? Or at least knows somebody who does. Personally, I love being in the city over long weekends because of how quiet things are. I love our city. Er, I mean, most of the time.
The Condo Market Strategy That Is NOT Going To Work In 2025
Stop me if you’ve heard this bit before, but have you ever considered why a “placebo” is effective? A placebo is a fake treatment for sickness, illness, or other ailment whereby a pill is given to the affected individual, however, that pill is not medicinal. It’s sugar or saline and it’s designed to look like a real pill. Sometimes, these are used in medical research to measure the effectiveness of an actual drug versus no treatment at all.
Toronto Realty Blog
Is it the wolf in sheep’s clothing? Or is this a case of the sheep in wolf’s clothing? Maybe I lost you in the analogy. Maybe you just want me to get to the TRREB stats already. Maybe you wish I would stop writing each individual sentence on a new line. But however you want to look at this, perspective is important in this market.
Where Have All The Sockless Realtors Gone?
As previously discussed here on TRB, I made a decision in the spring of 2024 that I wanted to invite more pain and suffering into my life, and thus I decided to launch a podcast. “The Last Honest Realtor” was also meant to be tongue-in-cheek, although it really rubbed a few people the wrong way.
How Not To Sell Real Estate In 2025
I feel like I’ve done this one before. To be honest, this happens to me quite often. As we approach the 18-year anniversary of Toronto Realty Blog, it comes as no surprise that I often have an idea for something, only to find that I wrote it several years ago.
Toronto Realty Blog
Does anybody want to talk about tariffs? How about Donald Trump? How about the DOW Jones? Seriously, who in the world wants to read a real estate blog when we have financial Armageddon being played in a 24-hour rotation on every news channel? Well, I suppose that’s why have Netflix as a healthy distraction.
Are Mortgage Delinquincies On The Rise In Canada?
Sometimes I have absolutely nothing to write about on TRB. I still find a way, but there are times when my queue is simply empty.
Toronto Realty Blog
The definition of “qualification” is highly subjective, is it not? How does one qualify for something? In theory, a pre-determined set of criteria would exist, and if the individual meets this criteria, then he or she “qualifies.” But who makes up those criteria? And who could deem that criteria to be “unfair,” and why? Over the last several years, I have written far more articles about the rental market than ever before.
Toronto Realty Blog
Here’s a fun story! I purchased a vintage hockey card last month and I think it was a win. It’s really tough to tell in this asset class since the “value” is hard to define. But just to throw some example numbers out there, let me explain… Let’s say that I was offered this card for $10 by a dealer that I know and trust. Despite being attracted to the investment and the offering price, I wanted to look into potential “value” a little bit further.
Toronto Realty Blog
“If a tree falls in the woods, and nobody is around to hear it, does it make a sound?” I think the answer is “Yes, but…” Then you can fill in the rest. It’s sort of like asking, “If it’s your birthday, and you bought yourself a cake, but you have no friends, and you’re watching the candles burn, alone, is it really celebrating?” “Yes, but…” Pick your analogy, if you will. If you must. And for today’s post – you must.
Toronto Realty Blog
Let me start today’s blog post with a rather childish example. For a change… Remember when you were younger and you met a girl who you really liked? You hit it off. You had a great time. You immediately felt some chemistry and you were pretty sure that she felt the same way. You asked her for her phone number and she gave it to you. You told her that you wanted to see her again. You told her that you’d call her. She liked that.
Toronto Realty Blog
Do you have kids? I do. Two of ’em. The regular readers know this, and the long-time readers can recall a time when I wasn’t a hokey, 40-something dad. Older folks love to say, “I was young too, once.” I remember rolling my eyes at those folks, just as many people would do the same to me now.
The 2025 TRB Real Estate Prediction Game!
I’ve been in the same fantasy football pool since 2002. Almost a quarter-century, it’s crazy! And while most football pools see guys come and go, ours has been with the same guys since we started. Actually, that’s not exactly true. The first guy left in 2016 after he moved overseas and couldn’t keep up with football in a different time zone. The second and third guys left in 2021 after a bit of internal discourse, which is natural after nineteen years! Then a fourth guy left in 2022.
Who Wants To Talk Economics?
I swear, if I hear the words “Trump tariffs” again, I’m going to throw something. Call me naive or tell me my head is in the sand, but is it really that newsworthy? Do we really need to see this atop every single news feed, every day, in perpetuity? “David, of course it is! The world is sitting on a knife’s edge!” Alright, I will admit, we’re certainly entering into a very interesting time.
Design Versus Functionality: The Problem With New Condo Floor Plans
It’s often fun to look at artist’s renderings of new condominiums, isn’t it? And I’m not just referring to the renderings of the buildings themselves, but rather the amenities too.
Toronto Realty Blog
I was trying to explain the concept of negative temperatures to my daughter the other day. She’s 8-years-old. I thought she would understand. -2 is colder than -1. -2 is less than zero. “How could something be less than zero?” my daughter asked. I suppose that’s a fair question.
Toronto Realty Blog
Why didn’t I think that posting my thoughts on federal politics, Justin Trudeau, and the Liberal party would result in a flood of comments on last week’s blog post? I don’t know. Maybe I just didn’t think about it? But I’m thinking now! I believe I’ve said all that I have to say on the topic and that nothing good can come from more discussion on the matter. I’ll leave things as they are until they need to be discussed again, ie.
What’s On My Real Estate Mind For 2025? (pt2)
I can’t possibly tell you how many pictures I went through to choose the three (spoiler alert!) feature photos that I’m going to use for this three-part blog series. What would you search for? I looked for “mind” as well as “brain,” and you can imagine what images resulted. “Thinking” was another keyword, as was every variation from “thoughtful” to “pensive,” and beyond. After a while, I had seen more pictures of people staring out windows to last a lifetime.
King For A Day: What I Would Change On TRREB MLS
Do you like Green Day? I do. More than a little, in fact. They’re my favourite band of all time. Now, surely that statement could result in some snap judgments on your part, depending on what you think of the band, the frontman, the genre, the style, or any of the songs or lyrics that stand out in your head.
Toronto Realty Blog
The real estate agents reading this blog might relate to the following story, so here goes… The phone rings one day and there’s a voice on the other end of the line with an underlying tone or attitude that can be at opposite ends. Sometimes, it’s sheepish and nervous. Other times, it’s brimming with bravado and confidence. Either way, I sigh when I hear the statement offered by the voice on the other end of the line: “I’m looking to buy foreclosures at auction.” Sure you are.
Toronto Realty Blog
Continuing the theme from two weeks ago, I’d like to offer yet another “guest blog” from one of my team members. As mentioned prior, we publish our annual INSIGHTS magazine every fall, and each member of our team authors an article on a topic of their choice. Matthew had a very memorable experience earlier this year which made for an excellent story, so I want to share that with you today…. Well, it’s been a year since we last connected in this space and a lot has happened in that time.
Toronto Realty Blog
Be honest: it’s kinda nice to be back in the office today, isn’t it? I mean, the time off was great and all. But there was just a bit too much family time, right? If we could collect one dollar from everybody in this city who lamented spending time with their in-laws over the weekend, we could probably by a pretty nice detached home in midtown, and there are even more folks out there who felt the same way but just didn’t want to admit it. For the record, my hand is raised.
September TRREB Stats: Methinks Thou Doth Protest Too Much
“Too excessive to be credible.” That’s what Shakespeare was trying to convey with this classic line from Hamlet. Actually, the original line in the play was “The lady doth protest too much, methinks,” and it’s been misquoted over the years as “Me thinks the lady doth protest too much.” But when used in urban slang, people often just say, “Me thinks thou doth protest too much” to sarcastically let somebody know that what the person is saying is not to be believed.
Testing Theories On The Housing Crisis In 2024
If you’re like me, you’re 5’11 and named Dave. No, wait, that’s not right. If you’re like me, you’re many things, some cool, most not. If you’re like me, you get giddy over statistics, you live for data, charts, graphs, numbers, and any facts and evidence that you can use to answer questions that you, yourself, have asked! Some people watch Netflix before bed. Others read. Me?
Monday Morning Quarterback: Higher Mortgage Insurance Cap & Longer Amortizations
Do you like stories? Most people would say that I do. Well, to be more specific, most people would say that I like telling stories but not necessarily listening to them. Meh. Forget those people! Completely unrelated here…..but would you mind if I started today’s blog post with two stories? Excellent, thank you… Mike and Jenny are 28 years old and are two years into their legal careers.
Reading The Tea Leaves In The Mortgage Market
Scotiabank has no problem extending an 80% loan-to-value on investment properties, but they charge a 25 basis-point premium. TD Bank doesn’t charge the 25 basis-point premium, and their rates are very competitive, but they insist on a 75% loan-to-value. HSBC wants to be a player in the investment property space, but if you’re purchasing through a trust or holding company, their requirements make obtaining a loan next to impossible.
The Problem In The Rental Market That Nobody Will Talk About
The problem is that rental housing in Toronto is expensive. There. I’ve answered the difficult question. Can we leave now, or do I need to write another 3,000 words? Well, the problem at the very least stems from the fact that housing in Toronto is expensive, as pretty much every problem in our housing market does.
Toronto Realty Blog
I used to describe myself as “anti-developer.” Not anti-develompent, but rather anti-developer. I have a long history, both on Toronto Realty Blog, and in practice, complaining about condominium developers in the province of Ontario and how they operate.
Are Smaller Condo Sizes Breeding Intelligence Or Entitlement?
I had a really tough time coming up with a title for today’s blog. Saying what I really wanted to say would have been a mouthful. Well, the title already is a bit of a mouthful, so let me say it would been even longer had I said everything I wanted to. Case in point: Condos are shrinking in size. People don’t like the smaller condos. Young people don’t like smaller condos. Real estate is expensive. And so forth.
How Do You Evalutate A Toronto Investment Condo In 2024?
Why did I choose that photo for today’s blog? The question isn’t rhetorical. I honestly don’t know. I typed “math blackboard” into my search and after seeing some unspectacular photos, the one with the sheep popped up. Then I wondered if this was a sign? Or could it be? Am I calling all condo investors sheep? Or is it me that’s the sheep? And what do we make of the incorrect calculation on the blackboard? Am I telling people that their evaluation criteria are wrong, or is it mine that’s incorrect?
Toronto Realty Blog
I wasn’t actually in the market for another investment condo. I mean, I’m always looking for opportunities. I’m always keeping an open mind. But this wasn’t something that I set out to do. I didn’t start the month of July with, “Purchase investment property” atop my to-do list. As I wrote in the first part of this blog on Monday, all the indicators in my mind point to a condo market on a massive upswing in early-2025, or even late-2024.
Toronto Realty Blog
Nobody wanted to warn me, eh? No head’s up? I mean, I suppose it’s my fault. I’ve apparently been living under a rock for the last fifteen years. That, and it turns out that I’m incredibly naive. I should have seen this coming but for some reason, I decided that my glass would be half-full for a change. But a small nudge; just a minor warning, would have been appreciated. Because boy-oh-boy I was not prepared for the veracity, volume, and downright nastiness of these user comments on YouTube.
The Second Rate Cut: Getting Warmer?
Soooo, how was your weekend? Me? Well, was into my third rye-and-gingerale on Saturday night, while watching fifteen minutes of six different 1990’s action films that I have seen thirty times each, when I received a phone call to learn that my offer to purchase an investment condo had been accepted. The phone call wasn’t sobering. Literally or metaphorically.
How Is The GTA Condo Market Faring In 2024?
Am I the only one that’s bullish on the downtown condo market? That wasn’t rhetorical. It also wasn’t sarcastic… The downtown Toronto resale market is not very good right now, and by “not good” I suppose I mean “not hot,” but we’ve been so spoiled for so long that anything short of a hot market is often referred to as a “bad” market. The stats that I will show you today are somewhat bleak.
Toronto Realty Blog
How old is your oldest friend? You know what I mean; not this person’s age, but rather for how many years have you known your oldest friend? Or another way of putting it: how old were you when you first met that friend? Perhaps mine comes with an asterisk, since technically my friend Jeff is my brother’s friend. They met in Junior Kindergarten when they were 4-years-old, which would have made me 6-years-old.
How Is The Downtown Toronto Rental Market?
I’m really not sure where to go with this post. Is it possible that the market can “turn on a dime?” And if so, would you believe that my recent stories provide greater insights into the current rental market than the data from the previous three months? The rental market has been sluggish all year, and my colleague Tara Amina and I sat down last week to chat about it in our weekly podcast, which you can view on YouTube HERE or listen to on Spotify HERE.
Toronto Realty Blog
June was an absolute slog. I’ll be the first to admit that. And if you had asked me coming into today how I feel the GTA average home price for the month of June would fare, I would have suggested that it would decline significantly. It’s amazing to witness how quickly the market can change, and after nearly four months of working in a seller’s market where “offer nights” and multiple offers were the norm, the picture really changed when we hit June 1st.
Toronto Realty Blog
I’ve never been much of a card player. This might come as a surprise to you (that was sarcasm) but I simply don’t have the patience for it. A while back, my friend Aimee told me, “I’ve been crushing it lately in online poker. I think I’m going to make this a career!” I told her that she, like millions of other people, were no different than the scores of pretty and handsome young folk that arrive in Los Angeles every single day, thinking they’ll be the next star on the Silver Screen.
Toronto Realty Blog
Here’s a topic that I don’t think we’ve ever explored before! Then again, perhaps the reason why we’ve never explored it is because we’ve never needed to? Sure, people sell their parents’ houses all the time! But to the extent that we’re experiencing today compared to, say, when I started this blog in 2007? No way. It’s not even close. It’s no secret that Canada’s population is aging, and as a result, there are likely to be more Canadian seniors selling their homes today than in years’ past.
Does Real Estate Investing Advice Go Out Of Date?
Can a book go out of date? I would certainly think there are examples. Surely an old medical textbook could be out of date due to advances in the medical world that take place each and every day. But what a work of fiction? How about something like, say, George Orwell’s 1984? Published in 1949, the story took place in an imagined, dystopian future, presumably the year 1984 since that’s the name of the book.
Condo Terraces: Considerations & Questions Abound!
I was browsing MLS today, looking at new listings in the downtown core, and something really jumped out at me: an 850 square foot condo priced at $1,450,000. But this wasn’t at The Four Seasons Private Residences, nor was it in the Ritz Carlton. This was in Corktown, and the unit was priced at $1,706 per square foot! So I clicked on the listing to investigate a little bit, and what did I find?
Toronto Realty Blog
I’m not sure if it was in the 2023 year-end blog post, or in the first post of 2024, but at some point, I mentioned that I was going to be adding a podcast to the resume this year, and one of the readers had a great line: “Perfect. Just what we need. Another real estate agent doing a podcast.” I think he said he was kidding, but even tongue-and-cheek, he’s not exactly wrong. I’m used to being ahead of these things. I’m usually the one benefitting from first-mover advantage.
Monday Morning Quarterback: Your Government(s) Are Lying To You About Housing!
Are there any other nerds out there? Wait, I mean are there any other nerds like me out there, and of my generation? Did any of you play the computer game Command & Conquer in the 1990’s? Admit it: at least one of you smiled. You remembered. And now, for some reason, you feel compelled to see if and where you can play the game in 2024… This was a classic 2D computer “war game,” and for high-school kids like me, it was a great way to waste time.
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