Relax, the Toronto Real Estate future should be a moderate market in 2008, without the doom and gloom associated with the U.S. style meltdown.
Recent media have focused on sales adjustments in the Real Estate Market but as yet the average home prices are increasing at a moderate rate and in Toronto, certain areas like the Downtown Toronto Condos Market have increased in sales price in comparison to the average increase of other Condos throughout the GTA,(Greater Toronto Area).
Most Economists do not see a troubled future for Toronto Real Estate, partly because our economy is strong and our Canadian Banks adhere to tighter qualifications for lending than their U.S. competition.
Economists from respected Canadian Universities like the University of Toronto’s economics department, the Ivey School of Business at the University of Western Ontario and others, all see a gradual softening of prices in the future, but no U.S. style meltdown.
One of my answers to why the Toronto Condos Market continues to increase, could be the pent up desire for Urban living, and affordable Toronto Condos, as well as Toronto luxury Condo prices, markets largely ignored for years.
