Will the Toronto Condo Market Crash? Pandemic turns Toronto rental market upside down, hands power to tenants – August 23, 2020,

As I’ve stated in other posts, the Canadian housing market already crashed, nobody talks about it, because there are mortgage deferrals and Canada Emergency Response Benefit (CERB) payments, but make no mistake about it, the housing market has already crashed.

There is however one-factor supporting Canadian housing and it’s the annexation of Hong Kong, I know some of that capital is ending up in Canada, but I’m not sure if it will be enough to support Canada’s Condo market, which is filled to the brim with flippers and rookie real estate investors, man of whom are using their CERB payments and mortgage deferrals to pay their mortgages.

The article I point to below, coincides with what I know

“The professional landlords who take being a landlord very, very seriously, like myself, we’re still doing very well. The turbulence is fine,” he said.

“But it’s the amateur landlords who thought, ‘Oh, it’s just an investment. I don’t have to work at all. I just put people in and collect the rent.’ These are the people who are going to be having a hard time during this period.”

Pandemic turns Toronto rental market upside down, hands power to tenants | ctvnews.ca

Because there’s a lack of productivity in the Canadian job market and a lot of people are making more money doing nothing than they would be working at job, I think there is going to be massive deflation coming to the Canadian economy, but… deflation in the real economy shouldn’t be confused with liquidity with the Canadian dollar.

I think the Canadian dollar on the forex markets could go up, I also think the price of SOME imports might come down, but domestically, the Canadian dollar is going to be debased to pay for all of this government and because of all the regulations on the Canadian economy, I see a huge problem ahead, but I also see a lot of opportunities!

Regarding rental prices, renter beware of rookie real estate investors, because a lot of them have a tendency to default on their debt obligations without telling their tenants, so if you’re a renter, do your own due diligence!

Interesting times ahead!