Troubling Signs for Toronto's Condo Mkt

There's a lot of speculation that the market is driven by immigration, but the article rightfully points out that the immigrants would be buying PRE-Sale inventory, if that were the case.  Good synopsis, the best I've read so far about the market.  I've wondered about it and speculated that a bid would continue to underpin demand given Canada's general fundamentals as a resource rich country.  However, a global downturn will affect speculators and consequently the RE market in Toronto.  My view is solidly in the camp of a global Western economic downturn.  The best countries to be in will be the poorer nations as they won't fall far.  When the current depression really takes hold then it's a matter of saving what you have  and ensure you're hedged and defensive for the next.....long while....

October 19, 2011

Troubling Signs for Toronto’s Condo Market

John Pasalis in Condo Buying, Home Buying, Toronto Real Estate News

If there’s one thing that concerns me about Toronto’s real estate market it's the uncertainty about the boom we are seeing in the pre-construction condo segment. 

As Toronto’s pre-construction condo market continues to break sales records I wonder when this boom is going to run its course.  Over the past few months, my concerns regarding the longevity and stability of this construction boom have heightened as a result of several observations.