All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Incredible short-term appreciation, the hot housing market spills into condo rentals and high prices forces buyers to think creatively.
Elsewhere: 2016 was a record setting year for housing in Canada, Obama's impact on the housing sector and UK housing stock value soars.
Downtown Toronto home appreciates 62% in two years (Toronto Star)
In a sign that Toronto’s real estate market is off to a hot start this year, a home on Palmerston Ave. north of Bloor St. near Bathurst St., has sold for 62 per cent more than the sellers paid two years ago.
Toronto’s hot housing market spills over to condo rentals (The Globe and Mail)
Toronto’s sizzling housing market is spilling over into the region’s rental market, pushing up rents to new records as tenants fought over a shortage of rental listings.
The options include tiny houses, home sharing, moving to the distant suburbs and even renting. Or, as suggested in this video on The Beaverton’s satirical website, you can look at homes that were the site of a grisly murder. HGTV personality Bryan Baeumler plays along by talking up a new show called Crime Scene Interiors.
History Repeating Itself? Toronto's Long Record Of Housing Busts (Huffington Post)
In the case of the bubble-mongers, though, they may not have been wrong. They may have simply underestimated just how long this boom would go on. If history is any indicator, when the boom busts out, Toronto will be in for a long decline. It's just a question of when.
Toronto real estate firm TheRedPin maintains, based on six years of research, that Tuesday, Jan. 17 is the best day to buy a home in the Toronto area — an assertion that not everybody is ready to believe.