April 11, 2017

Toronto's Last Real Estate Crash Took 22 Years To Fix

Toronto Real Estate bakerjarvis via Getty Images

First off, if you want to buy a home to live in, and you're not looking at it solely as an investment, this article isn't for you. If that is you, have fun building a life on a piece of property you get to call your own. This is for the people that are rushing into the market, thinking you can always find someone to buy your flip, because "property prices always go up." For that crowd, let's take a look at how buying at the peak of Toronto's last real estate frenzy resulted in massive losses, and how long it took to recover.

Have They Smoked Pot? Top Grits Answer Ahead Of Legalization Bill

Marc Garneau
Sean Kilpatrick/CP

Road Salt Is Putting Canada's Lakes At Risk: Study

Canada Lake
Getty Images

Kellie Leitch: I'll Scrap Pot Legalization Plan If I Become PM

Kellie Leitch
CP

More Politics
Trudeau's Transit 'Baloney'.. Liz May's vs. Heckling.. CBC Reporters Called 'Parasites'

Algonquin Grandmas Are Going To Court Over A Proposed Condo Development

Zibi Condo
Zibi.ca

CBC Apologizes After Critics Say It Got Canadian History Wrong

Cbc Building
Mark Blinch/Reuters

U.S. Woman Pleads Guilty In Plot To Kill Shoppers At Halifax Mall

Lindsay Kantha Souvannarath
CP

Liberal Proposal To Modify Role Of Budget Watchdog Causes Concern

Jeandenis Frechette
CP

Video Shown To Alberta High School Class Compared Abortion To Holocaust

Ecole Secondaire Notre Dame
Google Street View

More Alberta
'Masculinity Confession Booth'.. Drunk Pilot Jailed.. What It's Like To Be Black In Alberta

Sean Spicer Apologizes For Holocaust Remarks

Athena Image
Joshua Roberts / Reuters

Canada To Get New Rules On Airlines Bumping Passengers

Waiting Airport
Halfpoint via Getty Images

United CEO Apologizes For 'Truly Horrific' Incident

United Airlines
In The Know/AOL On

Eric Trump: Nepotism Is 'A Beautiful Thing'

Athena Image
Nick Didlick / Reuters

4 Killed After 80-Year-Old Enters Quebec Highway In Wrong Direction

Sirens Police
Chalabala via Getty Images

Buckle Up: The B.C. Election Campaign Is On

Christy Clark
CP

More British Columbia
Mandatory High Heels Now Illegal At Work.. Deer Hit-And-Run.. Election Season

Trump On Track To Outspend Obama's Entire Travel Tab In A Single Year

Reldbmevte65r0z9501
David Moir / Reuters

55% Of Canada's Housing Markets Suffering 'Irrational Exuberance'

House Canadian Dollar
Oleksiy Maksymenko via Getty Images

More Business
Money Laundering In The Housing Market .. Pfizer CEO: Canadians 'Freeloading' Off U.S.

Garneau: We Have New Airline Security Measures And That's All I Can Say

Marc Garneau
CP

Tories Hammer Trudeau Again For Controversial Island Vacation

Rona Ambrose Justin Trudeau
Adrian Wyld/CP

United Loses $900 Million In Value In Hours

United Airlines Plane
Scott Olson via Getty Images

Ambrose Feels 'Reassured' After Meeting Trump's Point Man On NAFTA

Rona Ambrose
Matthew Usherwood/CP

American Who Flew To Calgary For Sex With 14-Year-Old Gets 7 Years

Handcuffs
Vstock LLC

Alleged Rapist, Murderer Jumps To Death From Courthouse Balcony

Robert Seman
Reuters Studio/Screenshot

Russia Can Get On 'Right Side Of History' And Push Assad Out: Freeland

Chrystia Freeland
Chris Wattie / Reuters

Quebec Mother Hospitalized After Attack By Her Own Dogs

Hospital
sudok1 via Getty Images

May We All Be As Cool As This Woman In The Face Of White Supremacy

Police Edl
PA Wire/PA Images

Special Code Unlocks Secret Features On Bank Of Canada's New $10 Bill Site

Bank Of Canada 10 Bill
CP

More Business
Money Laundering In The Housing Market .. Pfizer CEO: Canadians 'Freeloading' Off U.S.

‘Made In Canada' Likely Has Trudeau To Thank For Almost 50% Boost

Justin Trudeau
Christinne Muschi / Reuters

United Passenger's Violent Removal Sparks Outrage In China

United Airlines China
Bloomberg via Getty Images

ON THE BLOG
Trudeau Is Ready To Break A 100-Year Promise To Veterans

Veterans Pension
JEWEL SAMAD via Getty Images

FOLLOW HUFFPOST

    1. HuffPost
    1. HuffPost
    1. HuffPost
    2. View all RSS feeds

Calgary Police Pulled Over This Familiar-Looking Dude

Calgary Police Batman
Calgary Police Service

Kelly Rowland Describes The Moment Her Son First Said 'I Love You'

Kelly Rowland
Cindy Ord via Getty Images

This Is The Most Popular Nail Polish On Pinterest

Beige Nail Polish
RomarioIen via Getty Images

Need A Reason To Get Excited About The Jays? Watch This.

Toronto Blue Jays Home Opener
USA Today Sports / Reuters

Michael Bublé's Wife Confirms Son Beat Liver Cancer

Michael Buble
Michael Buble/Instagram

Janet Jackson Slammed As 'Gold Digger' Due To Timing Of Divorce

Janet Jackson
Kevork Djansezian / Reuters

Men Share Their Honest Thoughts About Receiving Oral Sex

Couple Bed
PeopleImages via Getty Images

Parents' Fights Could Be A Bigger Problem For Kids Than Divorce

Parents Fighting
Wavebreakmedia via Getty Images

Shonda Rhimes Is The Woman Of Our Dreams In Latest Red Carpet Fit

Shonda Rhimes
Jason LaVeris via Getty Images

'The Underground Railroad' Takes Top Book Prize

Colson Whitehead Pulitzer
ullstein bild via Getty Images

How To Explain Easter To Your Kids If You're Not Religious

Easter
kolinko_tanya via Getty Images

Aspiring Rapper Allegedly Ran Into Sea To Duck $621 Restaurant Bill

Terry Peck
Inside Edition

Janelle Monae Calls For A Sex Strike

Janelle Monae
Kevork Djansezian via Getty Images

P.E.I. Turns On The Charm For LGBTQ Tourists

Charlottetown
P.E.I. Gay Tourism Association/Facebook

Alberta Man's Incredible Dog Rescue Caught By Camera Crew

Duncan Mciver
CTV Edmonton

Tattoos May Interfere With The Way You Sweat

Tattoo
Belyjmishka via Getty Images

Golf Jacket Bought In Toronto For $5 Sells For $139K

Masters Jacket
Green Jacket Auctions

The Internet Will Never Get Over This Photo Of The 3rd 'Property Brother'

Tiff 2015 Tiff2015 Tiff15sept11
Mike Windle via Getty Images

Blame Your Brain For Your Lack Of Sleep

Tired
WIN-Initiative via Getty Images

Ashton Kutcher Credits His Family For Making Him A Better Man

Ashton Kutcher Mila Kunis
Todd Williamson/BBMA2016 via Getty Images

Nova Scotia Company Posts Hilariously Specific Hiring Ad

Classified Ad
supertramp via Getty Images

Janet Jackson Reportedly Leaves Husband Months After Giving Birth

Janet Jackson Wissam Al Mana
Alessandro Garofalo / Reuters
Today's Videos