No exaggeration.
The yada, yada, yada are backed by solid facts: –
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Toronto-area home sale price jumps 16.8% in June
CBC.ca – Jul 5, 2016
House prices in Toronto continue to surge as would-be buyers struggle with a lack of supply in a red-hot real estate market, according to a report released today by the Toronto Real Estate Board (TREB).
Toronto real estate prices soar in June; sales volume up but new listings fall
Saving $775 A Month? Forget Buying A House In Toronto
Oshawa Express – Jun 29, 2016
According to the latest numbers from Statistics Canada, 391 building permits for residential dwellings in the Oshawa census metropolitan area – which also includes Whitby and Clarington – were issued in April, well above the previous month’s 151.
And the materials supply will soon see a very severe phenomenal shortage. Chances are a 2x4x8 may triple in price to say, $5 a stick.
Global lumber industry on pace for a second consecutive record-breaking year
Business in Vancouver – Jul 5, 2016
U.S. housing starts in March were the highest since 2007, and U.S. lumber consumption in early 2016 was 14% higher than the same period of 2015.
Foreigners are snapping up dilapidated houses in U.S., as if rotten houses say in downtown Detroit can fetch $2 million like Vancouver in the near future?
Foreign buyers flood US real estate, but buy cheaper homes
CNBC – Jul 5, 2016
Foreign buyers purchased $102.6 billion of residential property in the U.S. between April 2015 and March 2016, according to NAR’s annual report on international activity in U.S.
With articles like the one below flying around mainstream media everyday, you know Justin Trudeau is serious about putting out the real estate fire … real bad. But I wonder what can he do (without affecting you and I, the Joe Public)?
Vancouver housing bubble will burst
Vancouver Sun – Jul 4, 2016
All of the public and political discussions about high and rapidly rising house prices in Vancouver are focused on the impact they have on affordability and the problems they cause for young Canadian families wanting to buy a home. This focus on …