Dan Wong is one of the most successful and well-known real estate brokers in Toronto. He is the founder and CEO of CondoWong Real Estate Inc., Brokerage.
Dan has gone through 3 very different careers, from a computer store owner, to a computer hardware design engineer at a tech giant, to a real estate broker. He started each new career from a crisis and he became more successful than ever in each.
So when he started CondoWong, he wanted to create a real estate brand that not only survives but thrives through constant changes and uncertain times. And this mission is best accomplished by delivering proven results to our investors consistently.
CondoWong is powered by a full-service in-house team to help you land on a winning investment in Toronto. Dan has also designed a unique rental management program to take care of your investment throughout its lifetime. CondoWong delivers the hands-free and rewarding investment experience that every investor dreamed about.
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Lol buddy inventory is at record highs ! I’m making so much money in the stock market us equities haha. Everyone is fleeing the country
I think the government should give the land back to the indigenous people. Then the indigenous people can sell the land to Canadians at a reasonable price!
Downtown Toronto MOI is 15.6! Only 1.5% of condos listed for sale are selling.
gravy train!!!
Buy now or never. Last chance guys. Jump into the market. Jump, jump jump, jump now.. Condo Wong Ponzi
Could you make an episode to analysis why condos management fees in Toronto is expensive than Vancouver? Thanks!
Excellent food for thought, thank you. There are development opportunities as close as Yonge & York Mills and east & west of the core. The GTA is an ever expanding pancake. If the cost to develop is too high due to land tax, materials, and poor supply chain and lack of qualified people then building will stall. And if buyers cannot swing owning the existing Toronto stock, then individuals are not making enough money to live in the city which is a huge wake-up call for employers (& everyone). Trends seem to be pushing people to live further away, remote work is more desirable and everyone will adjust hopefully ~ however I think it will be a long painful adjustment forced on us by shortsighted bad leadership at every level. The cost of basic food is so. hight, it's another encouraging reason to exit as Ontario is in trouble.
I’m a landlord and in about 3 years - by 2027 I will not be renting anymore. It’s too stressful and too risky if someone doesn’t pay you OR ruins your home. Not worth it. And this will be the sentiment of more and more landlords. I’m seeing my friends who want to rent a home and cannot. Landlords are refusing good tenants. Now you have to be an EXCELLENT and EXCEPTIONAL tenant to get a place now
Good analysis. Just a typo on your chart on the "Top 10 Most Livable Cities in the World". The first country is Austria not Australia.
No worries. If Condo Wong Ponzi said it is Australia then it is Australia, Full Stop. Do you know more than Condo Wong Ponzi? 🤫😂😂😂
Great analysis Mr Wong. This trend will not reverse itself easily, unless we enter a true recession that will wipe off some housing wealth. A lack of social housing is also a problem
Low interest rates + mass immigration created tons of mom and pop investors who scooped up all of the supply. It has ruined the middle class.
Is easy solution, income needs to increase.
From what I understand, the prices went crazy in and after the pandemic, because 1) less houses were constructed; 2) Boomers who were about to downsize their homes didn't want to get in a virus trap condo tower (with no mortgage left, the status quo is cheap); 2) older Millennials who were happy where they were, suddenly needed 2 home offices and were stuck with the kids all day, they wanted to upsize like never before; 3) young professionals and students, who used to pass most of their time outside their living quarter, suddenly had nowhere to go, but their studio or 1 bed condo or appartement. Everyone was pushing to upsize, so the prices of every categories went up, the smaller options simply following the rest. What is needed now is affordable housing for families, possibly subsided 2000 square feet condo with at least 4 bedrooms, possibly a playground on the roof. All over the world, these 10+ million cities are struggling to make more than 1 bedroom condos for all but the very rich. Between the suburb house and the micro studio, there needs to be something more affordable but still adequate to rise a family, so the middle class (which I understand as the 20 to 80%) can still thrive in a always more urban society.
Great video! I feel sorry for the younger generation. It's difficult for them to accumulate wealth for a down payment. No short cut solution. To Start with, Liberal government needs to go 😂😂😂
Don't you think the dollar's value has decreased after printing trillions of dollars? This, combined with high interest rates, significantly impacts affordability. Why is the middle class punished without benefiting from the trillions printed? Where did all that money go, and who is responsible for printing it and then punishing the innocent by raising interest rates? I believe you know who the villains are. Why would house prices remain low while our dollar depreciates? Does this make sense? The Bank of Canada is losing the battle with inflation, and the CPI numbers aren't accurate. To be fair, I would suggest lowering the interest rate and devaluing the dollar.
That is coming but AFTER this government. Since 2020 the retail prices went up more than 50 percent but salaries NOT. Still the single houses in GTA are NOT expensive but we are Underpaid since 2015.
good show
The "increase density" resulting lifestyle is a path to bad quality of Life! Kids raised in apartments; no yards to play in, no trees to climb, no "tooling" around the neighbourhood on your bicycle.....sardine can living. Housing unit size shrinking as the densitification trend persists. What if remote work really takes off? Why live in crime ridden GTA? Head out to the "country" or at least to a suburb where you can buy a single family home. Disclosure: i live in Ottawa in a si gke family home. My kids had the life style i describe as they grew up... As i did in small down northern Ontario... But maybe quality of life does not matter.. look at history.. WEF will take care of you... Just ask Freeland and Trudeau! As an after thought... What Is the definition you reference for the word LIVABLE? That is key!!! Our politicians, like trudeau and freeland, are rich... The definition they have for livable likes has at least two meanings... Livable for them likely includes multiple " homes" with at least one of them being a large lot single family house.
Awesome ❤❤❤ nice to know ❤❤❤
Study currency devaluation.
Hey Daniel, good video. I agree with most of it. But it's unaffordable not because of remote work. If you look at your top 10 cities, the minor majority population in each of those cities are Asians. Aka Chinese lol. Majority of the Asian culture doesn't believe in putting their money into stocks but real estate instead. We invest and drive up the prices. We all want to be lay ga sing. Lol
Perhaps consider the geography of the cities listed. Most of these cities are land locked - restrained by shorelines or mountain ranges. There are a few benefits of real estate over stocks - cash flow from tenancy, leverage using mortgage, relative price stability due to demand and intrinsic value. Of course, one drawback is liquidity and versatility. For those that can pick out the next NVidia, real estate investment is truely a waste of time. But, for those who cannot, diversification between real estate, bonds, equity, crypto, and futures is important. Truth be told, modern investors who own a portfolio of real estate properties (residential or commercial) also own a solid portfolio of “stocks” - Asian or not.
Tenant Eviction after 5 days if no payment.
Only dumb people buy condo
Once Mr Truedo is able to sell his property portfolio, he will make the houses affordable for Canadians. Until then, you just sacrifice 😢
Great move
Where the hell did all these losers in the comments come from
New Mess: Landlord takes loss for Tenant's payment of rent. Landlord pays mortgage/taxes/utilities/repairs/etc... on the property. Landlord goes broke. Landlord declares bankruptcy. Landlord lives in tent. Bank gets House. Government buys house to use as Gov't housing. I could be wrong. But, just seems a bit too real.
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Rose Strayer.
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I'm new at this, please how can I reach her?
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery Glory to God shalom.
BOC cut the rate and inflation rose. Obviously it was a mistake. Will they make the same mistake twice? Probably not. Notice the timing of the rate cut. It was during peak sales season.
This snake oil salesman is one of those who only cares for lining his pockets
Don't listen to people like them. They are greedy and are the ones who have killed Canada. When they talk about what government is doing to recover, please understand it is our money(tax payers money)...
I guess in this market there are many bids anyway. I don't think this changes anything regardless. I wouldnt have cared if i were to sell.
Foreigners and corporations should be only allowed to owned condominiums.
They already do, you 🐒
So basically I'll finish my nursing degree in a year and move down to California where they'll pay me $75 an hour for slightly cheaper real estate. Rather than $40 an hour and an over inflated market. Man I hope all these new comers to Canada have good health because these investments will be useless if they aren't healthy.
@CondoWong - if you had to guess, where do you think C1 condos will be priced in March 2026 compared to today?
I'm favoured $130k every 4 weeks! I now have a good house and can afford anything and also support my family>
Wow that's huge, how do you make that much monthly? I'm 37 and have been looking for ways to be successful, please how??
Yeah, since meeting expert Evelyn, I now agree that with an expert managing your portfolio, the rate of profit high, with less risk.
I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance
She's a licensed broker here in the states.
😱Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!
Investor are no renting in part because the LTB court is broken, they cannot provide justice to any one - they are overflowed with cases, mostly landlord with tenants who cannot pay their rents. If the Government was serious fixing their juridical system, many of that housing would come back to the rental market. Even the recommendation of the ombudsman fell short. 😔
this guys a real estate agent, obviously hes gonna say this crap. reality is the TSX beat real estate in the past 20 years, SP500 *crushed* both.
Grouping Vancouver, Calgary & Toronto is nonsense.
i know this might not be the right forum, but I'm looking for recommendations for real estate tax accountant - any recommendation would be much appreciated (independent small landlord in TO here)
Fighting 8.5% inflation (more like 35%) with a 1% Fed funds interest rate is like stopping a forest fire with a bucket of water. Folks prepare accordingly. Make investment with Mrs Elizabeth Frankel. in other not to depend on the government for fund.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn't know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helps us a lot to pay up our bills.
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
This sounds so good and I would like to be a party to it, is there any way I can speak with her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
I think we should create a rental history bureau, similar to the credit history. Why don't we have one yet? Big boys do not want us to.
lol, you’re so desperate that you think Trudeau can save you! You’re rekt condo man 😅😅😅
Before 1972 Canada had no capital gains tax, at least not on real property. At the same time life was good, no homelessness, everyone could reasonably hope to buy a home, have tropical holidays, no beggars, very little drug addiction and of much less severe quality, no unemployment, crime rate incomparably lower, less stress. Yet, no capital gain tax, at least not on real property! What is wrong with today's picture?
It feels like we are relentlessly chased by this government hunting for OUR MONEY that WE PRODUCED by diligently applying ourselves. Their demands are OUT of PROPORTION, their INDISCRIMINATE SPENDING is OUT of PROPORTION. We need a REASONABLE GOVERNMENT as soon as possible.
Condo investors are screwed period! Don't listen to this condo man, he probably is putting every condo he owns on sale so he never need to look back.
Condom is biased
better than u who doesn't own any 🤣
I'll bet he's got thousands of them to unload.
Great research Dan!!
I have one question to these so called professionals - did you have to pay 60k interesest per year on your 599k house and could rent it for max 3k per month when you bought it ? If not, them sht the heck up and don't mislead the public. If income went up by the same percentage as the home prices, you could make talk bs like that.
60k interest pr yr? That would be 10% interest pr yr. I don't think it was up that high. Am I missing something?
Income is irrelevant. No one is predestined to own a property, it's earned not given. Housing is an asset, you can rent a home but when buying it's an investment. In most big cities people accept the fact that they cannot afford to invest in real estate, the math is simply against it. Toronto and Vancouver are on the same trajectory. However, people who are out, cannot see simple economics. Correlating income inflation and housing prices is simply false.
@@essentialpassionI’ve lost brain cells reading this crap lol. Pal the party is over, Mr condo is trembling on his boots because once reality sets in and governments cannot engineer markets anymore everything will revert to its meaning like always does. 🤡
@@marionovoa3846 Governments can’t engineer free markets; they can only influence them to some extent. This isn’t a communist state where the government owns the land. So average incomes are irrelevant. Owning real estate in bustling cities like Toronto or Vancouver is not a right-it’s a competitive arena. This isn’t about entitlement; it’s purely about the dynamics of a free market.
@@essentialpassion QE , QT and interest rates are tools from the central banks to engineer markets all day long with the help of the banks. Interest rates dropped but buyers didn’t show up because currency is drying up, inflation is sticky and the dollar is weakening and the trend is going to continue. Mr condo and the rest of the very irresponsible speculators can only pray for another government bailout because it is the only solution for them.
Trudeau is wrong. Things have not changed. Buying a house has ALWAYS been very very difficult. His mismanagement of the economy and his absurd spending has made it temporarily seem impossible. Trudeau is a liar.
離地同溫層大師🥱
Prices are HIGH or prices are LOW. That condo is EXPENSIVE. That car is CHEAP. Easy peasy.