Photo Credit: CTV
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: The rental market is booming, unsold condos hit 21-year high and a real estate warrior calls it quits.
Elsewhere: Unsold condos isn't just a Toronto thing, America's "fixer-up" housing market means good things for retailers like Home Depot and calls for a revolution from Europe's left.
The dreary six-story apartment block in Toronto’s north end was nicknamed “Divorcee Towers” after the newly single who lodged at its short-stay units. Then Timbercreek Asset Management Inc. moved in.
The BMO economist chalked last month’s record completions up to “construction delays” that had builders playing “catch up” to finish units that were sold in 2011 – a record year for sales, Guatieri noted.
‘NO MORE MONEY!’: A real estate warrior calls it quits (The Globe and Mail)
Mr. Fleming, an agent with Bosley Real Estate Ltd., says his clients had set a limit they would not surpass and they stuck to it. Still, they found the process draining. One reason they called a halt, he says, is that even if they had ultimately prevailed, the buying process would have tainted their feelings about the house.
Carmela and her husband, perhaps sensing the growing opposition, began canvassing the neighbours, knocking on doors armed with pastries or challah and an apology for not having explained their plans sooner. Boris, a gregarious Russian with a head of snow white hair, was often out on the street chatting with neighbours. But the charm offensive was short-lived.