No collapse in Canada’s condo market, but not much growth either
The report is sponsored by Canada’s largest private mortgage default insurer but it shows a relatively flat condo market in Canada’s eight largest market for high rises.
Genworth Canada and the Conference Board of Canada forecast prices rising in 2014 in all eight markets surveyed but barely ahead of inflation. Sales will also be positive but even the most robust market, Quebec City, will only see a 4% increase in resale condo activity.
Condo market to ‘cool gently,’ not crash
While a long way from the crash in values some economists had predicted over the last few years, that’s also a far cry from the heady days of Toronto’s condo boom, when prices climbed 7.8 per cent, on average, from 2009 to 2011, according to the report.
Condo Markets Still Tracking Soft Landing
Genworth Canada Releases Winter 2014 Metropolitan Condo Outlook
TORONTO, April 2, 2014 /CNW/ – Condominium markets in most cities will avoid price declines in 2014 and 2015, according to the latest Conference Board of Canada condo report released by Genworth Canada. The Winter 2014 Metropolitan Condo Outlook forecasts that urban centres of higher risk, like Toronto, are expected to see the condominium market cool, but still expect a soft landing. The outlook is generally stronger in Western cities, includingCalgary and Edmonton and even the Vancouver market is improving.
What condo … buy Katy Perry’s house. Not bad for just $5-6m (considering what you can get in Toronto).
You’re Gonna Hear Me Roar
I FINALLY SOLD MY DIVORCE HOUSE
Katy Perry has finally divorced the house she shared with Russell Brand … and this time she got taken to the cleaners.
Katy bought the pad in 2011 for $6.5 million — listed it in early 2013 asking around $8 mil but there were no takers.
Fast forward to December 31 … our sources say the house was finally sold for $5.65.
After brokers fees … Katy lost more than a million bucks.
The guy who bought it plans to gut the 8,800 sq. foot Hollywood Hills home.
Out with the old …