Real estate

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Toronto CityPlace: Growing Problem Or Just A Growing Neighbourhood?

I'll admit it, several years ago I had a very poor opinion of the CityPlace neighbourhood in Toronto. Back then, this neighbourhood of tall condo buildings built around Fort York Blvd and Spadina Ave was a huge construction site. It was dirty, the buildings were all under a constant state of repair, and there were no amenities nearby. Then in 2013, when Fort York Blvd opened through Bathurst St, things began to change.
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Understanding Greater Toronto Area's Pre-Construction Condo Craze

As an analytical realtor who focuses heavily on market-based statistics, I've started to understand the growing shift towards pre-construction condos. Millennials now pretty much don't have any shot at purchasing a house with the current appreciation in the market, despite the government's efforts to slow things down. Even purchasing condos may be a stretch for some. Getting into pre-construction condos however, is the golden ticket.
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Canada's Real Estate Must Be About People, Not Speculators

When people's incomes are locked into making mortgage payments or rent, small businesses and local economies suffer. High mortgages mean little flexibility, and not much left over for other life purchases. The consequence: big chunks of cash flow to Bay Street instead of Main Street. There is no question that the province needs to take action now to combat speculation, increase supply and decrease demand.
Canada's real estate market has held up very well in recent years, especially when compared to the housing bubble burst the U.S. experienced. But with debt levels reaching record highs along with house prices, many say the golden days of Canada's booming housing market are destined to end. Will Canada follow the U.S. down the path of a housing bubble bust, or will the housing market continue to stay buoyant? Only time will tell.