condos

Toronto has experienced a virtual explosion in high rise condominium construction in recent years, especially in the downtown area. According to Bloomberg, Toronto has the largest number of high-rise condominium towers under construction in the world.  read more »

The Province in Vancouver reports (in "15% of downtown Vancouver condos sit empty, turning areas into ghost towns: Study") that "much of the downtown core is starting to look like B.C.’s ghost towns — with apartments languishing empty, businesses closing down and residents not feeling the sense of community they bought into." The study, by University of British Columbia (UBC) planning professor Andy Yan, indicate  read more »

The National Association of Realtors has just published its quarterly median house prices and the trend continues downward in Miami. At the end of the third quarter, the median condominium price had dropped to $82,900 in Miami, about the same as the list price for a BMW-7 sedan. This places condominium prices at 77 percent below the 2007 second quarter median of $367,000.  read more »

Seattle's tony Belltown condo neighborhood hardly needs more bad news. Like many other similar areas in central city cores, the supply of new high rise condominiums has far outstripped the demand. Over the past year, the downtown area condominium market has experienced a median price decline of 35%.  read more »