Realosophy Team in Media Roundup, Realosophy News
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week: Toronto's housing market continues to surge on the backs of those pesky condos, more investigations at the TCHC and more subway misery.
Elsewhere: Does Canada's housing bubble actually exist and why China's housing market continues to soar (Hint: Straight cash).
Toronto
Is this the start of a condo comeback in Toronto? (The Globe and Mail)
"The Toronto Real Estate Board reported this week that sales increased 29 per cent in the first 14 days of September, 2013, What’s more, those plentiful condos led the way."
Rob Ford tours Toronto housing as agency investigates accounting irregularities (National Post)
"I said don’t stop, don’t stop. Just keep going on,” said Mr. Ford when he learned of the latest investigation. “And if people gotta go to jail, they gotta go to jail. I have no problem with that."
Gloom grows along with subway crowding (Toronto Star)
"There is no relief in sight for the 500,000 commuters who pack the Yonge-University-Spadina line every day. In fact, their lot will get worse before it gets better."
Cat hoarding in the Beaches: City of Toronto says options limited (Toronto Star)
"The Beaches residence is now covered in garbage, junk furniture and cats — so many cats the neighbours are pleading for help from the city."
Canada
Canada housing market has calmed: finance minister (Reuters)
"It's calming, which is good, especially the condo market which was quite worrisome in Vancouver and Toronto, and a little bit in Montreal also."
So much for the housing bust (The Globe and Mail)
"Contrary to the Greek chorus of woe, sales are now above their 10-year average in seasonally adjusted terms."
Hot air can’t bust a housing bubble that doesn’t exist (Edmonton Journal)
"What’s more, 55 per cent of those newcomers are between the ages of 20 and 44, when many are launching careers, getting married, starting families, and yes, buying new homes."
USA
What You Need to Know Before Buying a House (Wall St. Journal)
"Most of today's boom is happening where Bubble 1.0 swelled and burst midway through the last decade: Florida, Phoenix, Las Vegas and California's Central Valley."
What's killing the US housing recovery? (The Guardian)
"Affordability and home ownership are far more closely correlated than interest rates and home ownership."
International
China's Housing Market Continues To Soar (Forbes)
"Unlike the U.S. during its bubble years, most buyers in China on the high-end of the market are cash buyers."
New York office tower seized over payments to Iran (BBC)
"An office tower in Manhattan that prosecutors claim is secretly owned by Iran is to be seized by US authorities."
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