IS THERE REAL ESTATE BUBBLE IN CANADA?

20.39.00  citra   Label:
In Canada -- where real estate is enjoying a record long bull market - there is no bubble to burst. And forecasts keep predicting a rosy housing future, even though affordability is being eroded by higher prices, which are averaging $367,226 in Toronto.Canada's multi-year boom in multi-unit construction shows no sign of letting up.

What is slowing, though, is construction of single-detached homes, which are becoming too expensive for first-time buyers.

Overall, that means what's ahead is hardly a housing collapse. Rising home and land costs are making more affordable housing options, such as condominiums and townhomes increasingly attractive, particularly for first-time buyers.

Who's buying? According to statistics condos are being snapped up by Canadians in the 20-to-29 age bracket, and those 55 and older. Bottom line is: Both empty nesters and young professionals like the idea of living closer to downtown cores, which cuts down on commuting time. Investors are also turning to condos as ways to diversify their portfolios.

For more Toronto real estate news, listings and info go here - http://www.torontogreathomes.com
Share on :
IS THERE REAL ESTATE BUBBLE IN CANADA?
IS THERE REAL ESTATE BUBBLE IN CANADA?
Reviewed by citra
Published :
Rating : 4.5