DANIEL DEMELIS
@danieldemelis
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Last Seen Profiles
Pinned Tweet
Our Second Annual Charity Golf Tournament has successfully concluded! This year, we decided to support
@AutismInMindCC
with our fundraising efforts. A huge thanks to everyone who participated and contributed. We're still counting the final amount raised, but expect to announce
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IMHO
@ronmortgageguy
is committed to putting together some of the most comprehensive + thorough posts on 🇨🇦 housing market out there.
He has proven to be a fountain of wisdom to say the least. If you want to stay up to date on mortgage regulations or on the housing market in
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@MultifamilyMad
I know realtors that buy and sell multiple properties a year even if they breakeven after commissions. They do it for the commission income.
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If the building and construction sectors remain sluggish for a prolonged period, it's reasonable to expect that many skilled tradespeople will leave the GTA. If that occurs, we should assume they won't return quickly.
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I chatted with a friend of mine, a mid-sized developer in the GTA, and they're considering a strategic shift.
Due to the headaches of constructing new sites, their firm is eyeing a move towards asset management and purchasing already built, income-producing buildings in the
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IMHO
@daniel_foch
is an excellent follow on this platform. He possesses a profound understanding of the macroeconomic data that shapes the economy and its effects on the housing market in 🇨🇦. Furthermore, Daniel has a remarkable talent for fostering community through the
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IMHO
@JShamess
is a great follow on this platform.
Jeremiah is one of the most well connected and knowledgeable real estate professionals out there with a focus on development land and helping to sell great buildings in the GTA.
He’s also a gentleman and extremely well liked.
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@daniel_foch
The appeal of small condos (micro sized) is or was the small price tag. Many could utilize one as a pied-a-terre. Unfortunately if the price is too high it’s useless.
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My honest and personal opinion is that Government should at least consider coming to the table for the purposes of temporarily reducing fees associated with getting new housing off the ground and built here in the GTA.
The alternative is that if they don’t, projects won’t
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Another great follow in the 🇨🇦 housing/ macro/ credit space is
@BenRabidoux
IMHO.
He brings real time data and information and I appreciate his posts/ and tweets. They help me stay informed on what’s happening.
He’s also a good fisherman 🎣
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@MarkinMetaForm
@StephenPunwasi
This just further magnifies why so many prefer low rise freehold housing.
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A friend of mine finalized the purchase of a pre construction condo he bought off-plan in 2021.
Our analysis over coffee today shows that this investment is essentially a 2-CAP based on the rents right now. Although he bought it outright with cash, the rental income, after
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I've heard through the grapevine that someone I know, who's quite knowledgeable and experienced in the field, is struggling to get his new home building business off the ground in the Greater Toronto Area. He ventured out on his own about two years ago, but unfortunately, sales
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When I first started getting into city building I found out about
@donnelly_b
right away. This was 10 years ago when he was writing his blog
@AThisCity
(now )
Over the years he has proven to be a great writer and has developed or been apart of some of the
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2ND ANNUAL CHARITY GOLF TOURNAMENT (SAVE THE DATE!)
Our first charity golf tournament last year successfully raised over $26,000.00 for the Starlight Children's Foundation Canada.
On September 20th, 2024, S&F De Melis Construction Ltd. will be hosting it’s 2nd Annual Charity
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I never thought in January 2024 that we could see 5 cuts from the
@bankofcanada
by December but here we are. Today the BOC cut for the 3rd time this year, with 2 more cuts expected in October and December.
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I had a conversation with a knowledgeable friend who's deeply involved in the PBR apartment sector last night. He's someone I respect for his expertise. His company leverages the CHMC MLI Select program significantly to initiate projects, boasting thousands of units either
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700,000 of the 4,000,000 people 🇨🇦 who work in the trades are expected to retire by 2028 as per a recent study by
@immigrationca
This is a significant amount that will likely increase if the downturn becomes worse.
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@daniel_foch
This situation is both dangerous and somewhat alarming. If the events described below also occur, they could significantly worsen the downturn.
If the building and construction sectors remain sluggish for a prolonged period, it's reasonable to expect that many skilled tradespeople will leave the GTA. If that occurs, we should assume they won't return quickly.
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@MultifamilyMad
He should rethink what he is doing then. The realtors I know that do it let properties appreciate long enough to cover transaction costs. They will buy 5 properties a year and every time they buy one they are also selling one.
Over simplified but I think you get it.
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I know a plumber who's around my age (40) and runs his own business without any employees. He earns an average of $800 a day just from service calls. His expenses are minimal, mainly fuel and materials, which he often charges separately to his clients. Most clients pay same day
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Condominiums will eventually regain their appeal, though it's unclear when. I'm certain that for them to be a worthwhile investment, even for cash buyers, prices need to decrease further.
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@daniel_foch
I agree 💯.
Additionally, considering that our economy is likely to worsen, there should be even more emphasis on discussing Main Street issues and our future direction. Many people don't fully understand what GDP is, let alone the metrics we use to measure it.
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@daniel_foch
@AndrewChangCBC
@ronmortgageguy
@MYoungTO
Andrew is so good at what he does. Great video and very on point.
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@ronmortgageguy
Perhaps if we had a full time dedicated Finance Minister these poorly worded press releases would be given more oversight.
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@donnelly_b
People quickly just settle back into routines I think. There is also massive pushback here for it unfortunately.
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The real estate market this Fall could experience a notable rise in available properties for sale, which might be balanced out by increased buyer engagement and market activity spurred by expected reductions in interest rates.
Thoughts ?
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@MelanineT45
@JShamess
Clearly I am not an expert. That being said, stops in Windsor, London, Toronto, Kingston, Ottawa, Montreal all seem like good ideas.
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I am surprised at the speed and extent to which interest rates have already been reduced this year.
I am even more surprised though by some of the forecasts coming out now suggesting they could drop even more significantly in the coming 6-12 months.
While I would argue lower
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We had another flood yesterday in the GTA. The recurring nature of these floods raises questions about urban planning, drainage systems, and our region’s ability to adapt to what appears to be a new normal of extreme weather events.
This flooding event also underscores the
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@daniel_foch
There is definitely a part 2 coming to compliment this initiative. It will be an interesting few months to say the least.
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Over-building and then under-building: Is Toronto headed for a severe shortage of new rental housing?
Great blog post by Brandon here:
via
@donnelly_b
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I've really grown to value
@VasCityEstates
presence on this platform. He's not just a knowledgeable realtor, but he also shares insightful stories and informative charts. Plus, he's genuinely nice in person. If you're interested in real estate, following him is definitely worth
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I Just wrapped up a great meeting with
@SukiChoi2
of
@AutismInMindCC
discussing our upcoming 2nd Annual Charity Golf Tournament. For those that do not know, they will be the beneficiary of all funds raised from our tournament on September 20th.
Wonderful person and
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Had an epic morning trek through the woods near the cottage with the family. Ontario's got some seriously underappreciated natural beauty.
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If you want to learn more about Urban Planning or about Toronto’s massive change over the last decade then you should follow:
@ProjectEND
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I think
@maxgoyzman
is a great follow for those interested in CRE deals from a finance or lending perspective.
Fountain of knowledge IMHO.
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Townhouse construction site. I’ve been promised the landscaping, sidewalks, and driveways will all be done within 5 business days. Curbs are in.
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@igetredpilled
The statement made by Tiff Macklem, Governor of the Bank of Canada, during the COVID-19 era might be remembered as one of the most significant missteps in the history of the Bank's leadership, in my opinion. It's also noteworthy that this particular comment seems to be one of the
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This is a must for city builders.
Reminder, we have our Multiplex event next Thursday with REHousing... hope to see you there!
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According to reports from the Toronto Star, at least 27 developers in Ontario have declared bankruptcy this year, signaling considerable systemic risk within the sector.
This wave of insolvencies adds to the industry's troubles, which is already in dire need of positive
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During my morning visit to my usual cafe, I've noticed a palpable shift in perceptions regarding the real estate market.
There's a growing consensus among real estate participants that anticipated interest rate reductions will fuel a bullish sentiment. This expectation is so
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@ronmortgageguy
@WOWA_Canada
You would think a full time finance minister would be a great idea 💡
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One of my best friends going back 30 years turned 40 today. His family business is not really active on social media but they are one of the best boutique general contractors in the region. They have been apart of a bunch of projects including several iconic landmarks.
Kintel
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I've observed a shift in public sentiment where the anger + resentment once reserved for realtors, mortgage brokers, and speculators has now extended + expanded to include developers, builders, and general contractors.
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The upcoming Autumn season in 🇨🇦 is poised to bring both challenges and opportunities as we navigate through a series of economic and other issues.
With high interest rates, a rising cost of living, and a softening housing market, different sectors of the economy are expected
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The new hard hats look great, in my opinion. We strive to ensure our team always has plenty of new PPE before the old gear wears out.
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Mortgage delinquencies are increasing in 🇨🇦, and building permits have decreased by approximately 14%. Currently, around 55% of bankruptcies in the country are occurring within the real estate sector.
Reports indicate that approximately 300 individuals are filing for
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This morning I received a message from a tenant that the neighbour felt compelled to stain both sides of the fence without permission. Even the side that isn’t his! 🤦🏻♂️
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@ManyBeenRinsed
Our corporate cashable GICs are around 4.5% but it depends on the bank. I believe there are better rates out there and we should probably have our controller look into this once again on our end.
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@MrFamilyOffice
Yes. My parents built a place 15 years ago and it doubles as a weekend home and cottage/ retreat year round. It’s become sentimental and it’s great to keep in the family.
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There are 4,452,900 public employees across all levels of government in 🇨🇦 (July 2024) as per
@HanifBayat
.
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I've noticed an increasing trend of contractors from the Greater Toronto Area taking on projects outside the region.
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@ShaziGoalie
Here is a great thread on it. 👇🏻
Housing affordability has become the single biggest issue facing Canada. It’s a complicated situation with no silver bullet solution.
For the last 6 months myself and 18 other homebuilders have been working on a way to tackle it and it’s finally public. Let’s got into it. 🧵
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Looking forward to reconnecting with everyone again on this platform. Hope everyone is doing well.
It’s great to be back! 👊🏻
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Land Entitlement Project.
Upon surveying the current landscape of our region, I am astounded by the formidable challenges facing development projects. Even basic land entitlement endeavors, such as the division of double lots, have become exceedingly arduous to execute
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We have recently added property managers to our small private REIT to improve our handling of residential tenants, which is becoming increasingly important to us.
We recently partnered with
@DelRentals
and plan to expand our collaboration with them, focusing exclusively on
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@VasCityEstates
@rob_siglio
Try to stick to the FOLLOWING tab and avoid FOR YOU like the plague! 🫠
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If your interested in gathering up data related to housing in 🇨🇦 then you should follow
@PHfloor
on this platform.
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We closed on the 1st of 2 purchases with a boutique builder we have close ties with recently. Both are 2500sf freehold towns with double garages in the 905 area.
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@VladTheInflator
@m3_melody
@nickgerli1
@PeterZeihan
@DiMartinoBooth
@LynAldenContact
@JeffSnider_AIP
@deerpointmacro
should be there also.
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@Crash_IRA
My opinion is prices will drop further. It’s shocking that one would think otherwise.
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@moseskagan
Could be worse. Last week I had called a very large national tree arborist for our family cottage north of Toronto. We have about 5 very large dead trees on the property that need to come down.
They told me they would arrive between 9am - 11am. They never showed up. Wasted a
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Our Site Super is part of a collaborative team executing on a project to rebrand approximately 20 sites in Ontario and Alberta. He was just in Goderich Ontario to check in on one of the sites and he snapped a picture. No cloud in site!
Let’s Go!
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@MYoungTO
@JShamess
@blackjetInc
@altusgroup
@Zondahome
@Republic_Dev
@weareoriginate
@AlterraGroup
@moddevelopments
@BradJLamb
With this information now public, I believe you will have the opportunity to significantly broaden this coalition among other developers and builders. I am confident that, at some point, various industry stakeholders would be willing to lend their support if presented with the
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@ronmortgageguy
A month ago, when I returned to this platform, you were among the first accounts I followed. You are known for your wisdom, experience, and level-headedness, making you one of the top thread writers here. Your posts are incredibly valuable and informative to many.
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A few people I know holdings corporate cashable GICs have mentioned to me over the last week that they are preparing for lower rates on their cashable GICs (we are as well.)
Will these lower rates start to push many into riskier assets? Perhaps not right away, but in the next 6
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@realEstateTrent
I’m up in 🇨🇦 so it’s a bit different. That being said, iMessage is the dominant messaging app here for one-on-one messaging.
For group chats, it’s split down the middle from my experience. That being said, WhatsApp is better IMHO for group chats. I hate iMessage tap back
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@maxgoyzman
Yet another hurdle for applicants to overcome. This will surely intimidate an array of builders, and possibly dampen the supply of new homes in the long run.
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@loganjrankin
This is the tried and true approach. Take profits through dividends and plow those into properties. Love to see it! 👊🏻
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We are sponsoring, and supporting the
@PCCareMakers
Annual Charity Golf Tournament in Manitoba later this month.
For those that are unaware, they are a public charitable foundation that raises awareness and funds for family caregivers and programs/resources to support them.
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Prioritizing long-term, sustainable relationships that are mutually beneficial and rewarding for all parties should outweigh short-term decision-making IMHO.
Harder said than done of course…..
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@MomAngtrades
He is the epitome of what it means to be a patient long term investor with impeccable temperament.
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