Photo Credit: CBC
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Housing affordability deteriorates to risky levels, the unlivable $1 million house in the Beaches and could stacked townhouses become the new condos?
Elsewhere: Canada's housing prices won't climb too much next year, Chinese investors find a safe haven in American real estate and where to house Europe's migrants?
"Affordability in Toronto is moving ever closer to the historically poor levels that prevailed in 1990, which may signal that risks are mounting because those were associated with a housing bubble at the time," it said.
‘Unlivable’ Beach house sells for $1 million (Toronto Star)
After two days on the market, the property sold this week for $1 million, more than $100,000 above the asking price. And this, in response to a listing that advised curious buyers to go visit “at your own risk” and that a “flashlight may be required” because the power is disconnected.
Are stacked townhomes the new condo in Toronto real estate? (Post City Toronto)
With very little truly available space left in the city, developers continue to find new ways to build up within small spaces in Toronto. Enter the stacked townhome: the latest trend in real estate in the Greater Toronto Area, which has entered many neighbourhoods across the city.
Some Toronto Community Housing Corporation residents say much-needed programs are in danger because of changes to the corporation's insurance policy.