If Tony Robbins and Pitbull come to your town to present you with ‘an offer you can’t refuse’ to buy residential real estate after it’s already surged over 200% in the past decade and 30-40% in the last year, that should be all the evidence you need to do the exact opposite. If, however, you’re the type of person that doesn’t easily pick up on the ‘subtle’ market cues then here’s a couple more reasons to avoid Toronto real estate at all costs.
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You might also consider some of the details presented in our recent post entitled “Toronto House Price Bubble Goes Nuts.”
All that said, for some folks, like 24-year-old Elijah Joseph, no form of admonishment will ever derail their dreams of building a “great big empire”…except, of course, the subsequent spectacular collapse of that “great big empire” which will undoubtedly result in complete financial ruin. Per Maclean’s:
If real estate were a religion, Elijah Joseph would be a believer. He is 24-years-old, and he has devoted his future to erecting properties trimmed with 24-carat gold. ‘I’m looking to build a great big empire,’ he says. ‘There is no doubt. I have a plan. I have a course of action, and right now, I’m kind of looking for a mentor.’
This post was published at Zero Hedge on Apr 11, 2017.
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