A Toronto Condo Bubble?

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.

However concerns are being expressed that the market may be saturated and that a housing bubble is developing. The Toronto Starreports that new condominium sales declined 55 percent in the first quarter of 2013, compared to last year.

At the same time, a huge number of new condominium units is under construction in Toronto. According to The Star, 57,000 units were being built during the first quarter. The first quarter build rate is reported as the largest rate ever. For their part, builders have scaled back plans for new towers

Who is Buying?

In an article entitled, “Toronto Condo Investors Under Water,” the Toronto Condo Bubble|Toronto Housing Bubble website (subtitled Largest Housing Bubble Except for Vancouver of Course) asked:  “… if condo living is the way of the future, then why is it that the majority of people who buy condos never actually live in them?”

The question was in the context of a report by Scotiabank that between 45% and 60% of Toronto condominium purchasers were investors, rather than people who actually intended to live in the housing.

Single Family Housing in Toronto: The Holy Grail

At the same time, The Star points to indicators that the single family housing market retains considerable strength. Part of the reason is that this most desired type of housing is made far more difficult to build as a result of provincial land-use policies (urban containment, including the Toronto "greenbelt").According to The Star, "That’s made detached homes, in particular, the coveted Holy Grail of housing."

Despite the explosion in condominium units, Statistics Canada data indicates that 71 percent of net new occupied housing in the Toronto metropolitan area was detached between 2006 and 2011.

These market dynamics, rising detached house prices relative to incomes and heightened speculation are predictable outcomes of urban containment (land rationing) policies.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Thanks for this article very

Thanks for this article very helpful. thanks.
how to get ex back and keep her

Very interesting blog. Alot

Very interesting blog. Alot of blogs I see these days don't really provide anything that I'm interested in, but I'm most definately interested in this one. Just thought that I would post and let you know.
how do i make a girl become my girlfriend

Thanks for taking the time

Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic. If possible, as you gain expertise, would you mind updating your blog with more information? It is extremely helpful for me.
best book for getting your ex boyfriend back

Great post I would like to

Great post I would like to thank you for the efforts you have made in writing this interesting and knowledgeable article.
rebelmouse.com

The convenience and

The convenience and availability of these solutions along with the excellent outcomes created, are what make them important resources nowadays. more learn

This is very educational

This is very educational content and written well for a change. It's nice to see that some people still understand how to write a quality post!
entdecke weitere

I admit, I have not been on

I admit, I have not been on this web page in a long time... however it was another joy to see It is such an important topic and ignored by so many, even professionals. professionals. I thank you to help making people more aware of possible issues.
voyance internet

this is really nice to

this is really nice to read..informative post is very good to read..thanks a lot!
http://www.rebelmouse.com/quantumvisionsystemreviews/

This is really a nice and

This is really a nice and informative, containing all information and also has a great impact on the new technology. Thanks for sharing it
http://french.reviewtraderush.com/text.php?lang=eng&id=4

Wonderful blog! I found it

Wonderful blog! I found it while surfing around on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Appreciate it.
series online

I wanted to thank you for

I wanted to thank you for this excellent read!! I definitely loved every little bit of it. I have you bookmarked your site to check out the new stuff you post.
safety jogger

Great pleaser for

Great pleaser for me!
Thanks...

Asad

it clarifies why we need to stop avoiding saturated fats since based on some studies these kind of fat really minimizes the danger of cardiovascular disease and it's also good for fat loss and lastly, this publication offers the complete manual in avoiding imitation health foods.https://www.rebelmouse.com/thetruthaboutfatburningfoods

diabetes Diabetes Mellitus Sandiego

except when it comes to needles. Good for running I guess. including Klipsch X10i, Etymotic hf2 and hf3, Klipsch Image S4i and S5i, Shure SE115m+, and many others. Gerson practiced in the US after coming from Germany during WWII. Canadian Diabetes Association Exercise http://www.sandiegowaltz.org/1/diabetesmellitus/
After a recent cut and color at my local salon, my stylist used some of this Bumble and Bumble product on me. After reading all the positive reviews for this device I decided to give it a whirl. Once it arrived I was very happy with my purchase. Canine Diabetes Treatment Cost http://www.sandiegowaltz.org/1/diabetesmellitus/ When Start Insulin For Diabetes Type 2

Apply vietnam visa form Toronto

Could you have apply Vietnam visa in Toronto? Please visit at http://www.vietnamvisa.pro

Very interesting discussion

Very interesting discussion glad that I came across such informative post. Keep up the good work friend. Glad to be part of your net community.
I spent the better time to read this article.
Horror movies

May be people are scared of

May be people are scared of something related to the towers,well the Question arises when they dont want to stay their then why are they investing in those towers.
hsc maths