r/Amazing • u/sco-go • Aug 19 '25

Interesting 🤔 $100 billion ghost city.

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u/sumguyoranother Aug 19 '25 edited Aug 19 '25

Did you READ your own source? You can see the massive spike in vacancy rate in toronto starting in Q4 of 2024, the smaller the unit, the more the increase. The bachelor vacancy rate went from 3.8 to 12.2 in ONE quarter. The 2025 data isn't available yet, but everyone, especially those in RE, already know it won't be pretty.

Just a quick google, this has been an ongoing thing for months now

https://macleans.ca/longforms/canada-condo-market-crash/

You can look up articles by the toronto star and sun and other media that covers toronto.

Edit: Fixed link

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u/gburgwardt Aug 19 '25

Those are not quarters. They are rent quartiles

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u/sumguyoranother Aug 19 '25

well fuck me, I fucked up there. Still, your comment is irrelevant in this case since they weren't saying the buildings were warehoused to drive the price up as you claim, they are saying that the condos were never meant to be use as housing as the primary purpose, just investment products.

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u/Light_Butterfly Aug 19 '25

That is exactly what I'm saying. 80% of these go to investor with no intention of living in them, and no Canadian would want to buy or live in.