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Toronto's Condo Boom About To Bust: Report

Toronto Condo Market Bust

First Posted: 10/18/11 11:17 AM ET Updated: 10/18/11 11:17 AM ET

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Financial Post:

The market for condominiums in Canada’s biggest city could undergo a 15% correction and stagnant construction over the next several years, Ryan Bohren and Sheryl King, economists with Bank of America Merrill Lynch Global Research, said in a report.

Read the whole story: Financial Post

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parrotfish
369 Fans
08:48 PM on 10/18/2011
"...Ryan Bohren and Sheryl King, economists with Bank of America Merrill Lynch Global Research" yada, yada...I wonder who funded this "study" ? More crap study from banks, if they think the market is about to tank then why don't they stop funding the builders and lending money. They won't. Plus there is a huge rental demand and the article misses this and all the new people moving into Toronto, they need places to live so the excess will be filled by the demand. No bust in sight.
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Adrian31
60% of the time, it works everytime...
305 Fans
02:27 PM on 10/18/2011
Yada yada yada. They've been reporting that Toronto's condo market was going to go bust for the past 8 years...Gimmie a break!
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pjlowry
136 Fans
 
01:51 PM on 10/18/2011
That's what happens when you overcharge the customers, nobody buys your product.

When you get too greedy, you deseve to be slapped down a few pegs.
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Adrian31
60% of the time, it works everytime...
305 Fans
02:28 PM on 10/18/2011
"nobody buys your product"

Sorry, but bidding wars are all too common if not the norm in our condo market here. There are plenty of buyers, mostly foreign.
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dresdengirl
2592 Fans
05:50 PM on 10/18/2011
Relax, I have been selling new (pre-constuction) condos in Toronto for the last 10 years, and I have heard that same thing for the last 10 years.
We still have long line ups for every opening.
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