Toronto Condo Market Crash A Real Possibility: New York Times It’s no secret that Toronto has one of the developed world’s most hyperactive housing markets right now. The city is the undisputed leader in North America for high-rise construction, an impressive (some would say alarming) fact considering it has a fraction of the population of […]
Toronto Is Doubling Up Condo Development Charges
If Toronto city council goes ahead with a proposal to double condo development charges, those extra costs – some $7,671 on the average one-bedroom unit and $10,624 on the average two-bedroom – are likely to land right in the laps of unsuspecting … Condo boom: Builders say doubling development charges threatens downtown The proposed higher rates would come closer to […]
Donald Trump: “What condo crisis” ?
They say the condo segment is in deep trouble, Overbuilt, overpriced condo market poses risk: Bank of Canada Trouble in condo market could bring down economy: Central bank Overheated condo market sheds dark cloud over Canadian economy, Bank of Canada warns Real Estate Cheat Sheet: Bank of Canada worries about condos; homebuyers worry about taxes Toronto condo market especially vulnerable […]
Upbeat condo market last hurrah ? Most probably not.
Economist says housing prices at risk to fall The latest market forecast from Scotiabank warns of ‘downside risk’ to real estate prices. Canadian housing prices are at risk of falling over the next few years, driven by global economic weakness and softness in key condo markets, a Scotiabank economist said Friday. Yeah, right. NO. not […]
BoC: “Toronto condo glut could destabilize economy”
The Bank of Canada is warning that an “abrupt correction” of Toronto’s overheated condo market could quickly spread to the rest of the housing market, threatening the broader economy. The central bank reiterated its concern Thursday about a glut of unsold condominiums, particularly in Toronto, in a twice-yearly review of the health of the financial […]
Bank of Canada thinks the Condo Bubble is very much alive
Bank of Canada warns on Toronto condo market High level of unsold units in the pre-construction phase pose ‘elevated’ risk to economy A high number of unsold units in Toronto’s condo market make the system vulnerable, the Bank of Canada warned Thursday. The Bank of Canada is issuing among its starkest warnings to date about […]