All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Demand for downtown condos heats up, a million dollars buys a tear-down in Greektown and the budget is balanced thanks to the housing market.
Elsewhere: A loophole in Vancouver's foreign buyers tax, popping the housing bubble in the American mind and why Brexit could thwart May's housing plans.
Toronto foreign home buyer numbers don't add up (Toronto Star)
Toronto's Realosophy president John Pasalis is among those who fear the Vancouver experience is happening here.
"Most agents' biggest concern is obviously not immigrants. It's the fact that when you have wealthy non-residents using homes as a safety deposit box it's not good,” he said. “It drives up house prices in Toronto and makes everything unaffordable."
Faulty Towers (TVO)
Toronto is becoming a condo city. For some, buying a condo is a means to a life full of urban pleasure; for others, it's a source of headaches and disappointment.