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Shazi Profile picture
@ShaziGoalie
Jan 13, 2023 • 1 tweets • 1 min read • Read on X
PRICE DISCOVERY OF THE DAY:
Welcome to Fort Erie, where this detached 🏡 steps away from Crsecent Beach sold in June 2022 for $785K. The sale closed in August 2022. Now the home sold in November for $600K, a loss of $185K before RE fees. #ToRe Image

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More from @ShaziGoalie

Shazi Profile picture
Apr 12, 2025
🇨🇦 housing bubble didn’t just price out a generation—it rigged the system to keep them out forever.

The correction isn’t a crisis.

It’s justice.

🧵 Image
1️⃣ It’s basic math: for homes to become affordable again, prices must fall.

Waiting for wages to catch up could take decades—if ever.
2️⃣ Since 2015, 🇨🇦 home prices rose 70%.

In Ontario, some areas saw gains of 178% in just 10 years.
Read 12 tweets
Shazi Profile picture
Apr 5, 2025
Harold the Mortgage Closer preyed on the vulnerable. Now he’s lost his licence, fined $280K, and under fire for charging 76% interest.

Here’s the wild story unraveling in Ontario 🧵 Image
1️⃣ A 3-year @TorontoStar investigation exposed Harold Gerstel — aka “Harold the Mortgage Closer.”

Last week, Ontario’s financial regulator (FSRA) revoked his licence and fined him $280,000.
2️⃣ Gerstel sold himself as a “last resort” for people denied by banks.

But FSRA says he targeted vulnerable clients, misled regulators, and repeatedly provided false information.
Read 12 tweets
Shazi Profile picture
Apr 1, 2025
🚨 Toronto's condo market just hit its 1996 moment

30% of Toronto preconstruction condo buyers are defaulting, and developers are suing them for millions.

Let's dig in 🧵 Image
1️⃣ In 2021, Nizar Tajdin was told he could flip a preconstruction condo in Forest Hill for massive profit.
He put down $85,500 on an $855K unit he knew he couldn’t qualify a mortgage for. Why? The agent said he’d find another buyer. He never did.
2️⃣ Now, Tajdin is being sued by CentreCourt for $860,000 + taxes.
Developers are holding deposits and suing for damages. And he's not alone — this is happening across the GTA.
Read 11 tweets
Shazi Profile picture
Mar 1, 2025
Preconstruction buyers in Ontario are drowning—stuck with homes they can't afford, can't sell, and might lose everything on.

This is big...let's roll 🧵 Image
1️⃣ In 2020-2022, buyers rushed into preconstruction homes, expecting to flip them for easy profits. Now, the market has collapsed, and they're trapped.
2️⃣ Mohammad Khan bought two preconstruction homes in Oakville for ~$2.5M each. He planned to sell before closing, but six months later, no takers.
Read 12 tweets
Shazi Profile picture
Feb 10, 2025
🚨 Toronto’s Pre-Con Nightmare 🚨

Buyer walks away from $439K deposit after condo plunges $600K in value

But wait until you see what RBC & the developer did to keep the market afloat.

🧵 Image
1/ In 2020, Joe Baradziej bought a pre-construction condo in Leaside for $2.2M. In 2024, when it was time to close, the appraisal came in at just $1.6M—a $600K drop.
2/ With lenders only financing based on appraised value, he needed $595K in cash just to close.

Instead, he walked away, losing his $439K deposit.
Read 9 tweets
Shazi Profile picture
Feb 4, 2025
🇨🇦 HOUSING CRISIS IS KILLING PRODUCTIVITY

Workers can’t afford to chase better jobs, and the economy is paying the price.

Let's dive in 🧵 Image
1/ 🇨🇦 is in a productivity emergency and high home prices are making it worse.

Workers aren’t moving to better jobs. Businesses can’t attract talent. The entire economy is slowing down.

Let’s break it down with cold, hard data.
2/ Since the pandemic, 🇨🇦 productivity performance has collapsed.

Look at this chart: From 1989-2019, real output per hour worked grew consistently.

Now?

Almost zero growth. Image
Read 10 tweets

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