Who Would Buy Pre-Construction Condos in the Current Toronto Real Estate Market?
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In this video, Dan responds to a comment on an earlier video.
"If you are paying a premium for a product in the future you are basically doubling down on your time to break even. The theory goes, money is now more valuable than money in the future. Hence paying more money now letting your money sit around doing nothing is pretty dumb. You are better off buying a resale and collect rent, because rate of price increase for pre-construction isn't more than resale."
"Let's put it this way: for example since Apple stock price would be higher 1 year in the future, so let's just pay 15% more for it now. I know I wouldn't do that lol"
So who would be buying pre-construction condos in the current Toronto real estate market?
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