Monday, February 20, 2012

Look at this Happy Buyer! The Lie as a Sign of the Market Top

Australians will be familiar with this ploy. Newspaper needs to write real estate pumping article and as a result must find suitable subject for article. Really, you'd think they'd wise up and choose someone with a relatively common name? Not so much.

Street Smarts: Toronto’s Yorkville, heart of the city
She won’t be taking possession for at least two years, but Vickie Zemelman is already excited about her new pied-à-terre.

The North York mother of three school-aged children has just bought a one-bedroom, $500,000 condominium at the New Residences of Yorkville Plaza, Camrost Felcorp’s 32-storey, 500-unit tower on the site of Toronto’s renowned Four Seasons Hotel. When it’s complete in 2014, Ms. Zemelman plans to use it as her weekend getaway so she and her husband can have some alone time or entertain friends on their terrace. Her parents, who winter in Florida, have bought a similar unit down the hall and will use it whenever they’re in town.

House Listing at 146 MacArthur
entry at

Funny how the article didn't mention what North York Mother of Three did for a living. . .

With hundreds of brand new condominium suites up for grabs in Yorkville, developers are banking on people such as the Zemelmans to snap them up; the purchases will afford them an exciting entry into Toronto’s growth.
They are banking on Real Estate agents buying everything? Seems kind of a niche market . . .

If you couldn't find any neutral suckers examples to interview, what does that say about the market, exactly? If Australia is any precedent, it says we're just ratcheting past the top.

Hat tip: GTA Girl, OwlEyes at

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