All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Toronto's real estate market could be too hot for comfort, a look at housing prices per neighbourhood, and new condo sales continue to rise.
Elsewhere: The sunshine state isn't so sunny after all, a co-op incentive model that could save some European cities, and Sin City rises up from the ashes.
Toronto's real estate market is so hot, investors don't want to touch it (The Globe and Mail)
People in Toronto are buying single-family houses that suck up as much as 60 per cent of pretax income. Prices, meanwhile, can’t continue to rise faster than the rate of inflation forever. The math doesn’t work.
Are Toronto condo rents poised to climb? (The Globe and Mail)
For its part, the Toronto Real Estate Board (which, as noted, represents realtors) is saying that the number of rentals done over the MLS during the latest quarter were up by more than new rental listings.
Charting Toronto's Uneven Housing Bubble (Maclean's)
While no neighbourhood has seen the value of its homes drop over the time period, central neighbourhoods have done better than those on the outskirts. Neighbourhoods such as Riverdale and the Junction have gone from seedy to trendy since the 1990s and have seen their home prices skyrocket as a result. Homes in Riverdale are up 170 per cent since 1996. In the Junction, they’re up 136 per cent.