Photo Credit: Toronto Newbie
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Why buying a home in the city is now a million-dollar dream, our Mayoral candidates talk housing and how to avoid real estate scams.
Elsewhere: Canadian home builders look south, the U.S. housing market isn't as bad as it looks and popping property bubbles in Europe.
Buying real estate in Toronto: The million-dollar dream (The Globe and Mail)
Most real estate observers rounded up to $1-million, and clarified that they were discussing the cost of a house, not a mansion: just a nice place to live, where two kids can each have their own bedrooms, and we’re not constantly yanked into the drama between neighbours on the other side of a wall.
At a time when construction is booming in Toronto, the alleged fraud calls into question whether strong enough safeguards exist for condo buyers in the city. While real estate lawyers and authorities say a crime of this nature is rare, others say the new-sale market needs more oversight.
Chow, who won cheers from the crowd as she spoke passionately on a topic she has long championed at the city and in Ottawa, promised to create 15,000 affordable housing units by forcing developers to dedicate 20 per cent of units in new projects — also part of a previously released policy.
Richard asked for $1,000 a month in rent for a home he said he had initially listed for sale after relocating to Iowa. He now wanted to rent it because, he said, the home had failed to attract a buyer after several months on the market.