Photo Credit: Toronto Star
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Condo buyers don't need parking anymore, Build Toronto fails miserably in meeting housing targets and the great divide in this city's housing.
Elsewhere: Great jobs don't guarantee anything in a hot housing market, long commutes in New York for mothers and housing turmoil continues to reign in the United Kingdom.
Parking spots are falling out of favour with many condo buyers, thanks to the proliferation of car-sharing services and a greater emphasis on transit and walkability by city dwellers.
So how does it happen that only 12 out of the 1,250 units were completed? Mayor Rob Ford, whose brother Doug sat on the Built Toronto board as his representative, admits there was no commitment to follow through on the MOU and chalks it up to the changing of the guard at city hall in 2011.
The great divide in Toronto housing (The Star)
But who exactly is shut out? In the midst of all the fear-mongering, we hear nothing of the 90,000 families waiting for affordable housing, the single-parent households that struggle to find a decent place to live, or the many residents who endure miserable living conditions under landlords absolved of all responsibility.
That $1 million Toronto home just got even pricier (Financial Post)
The average detached home sale price which crossed $1-million on a monthly basis for the first time in February, gained another 21% over the first two weeks of March as we head into the busy spring buying season.