Homeowner’s Dream. Buyer’s Horror!

What percentage of detached homes in Toronto are selling for more than $1.7 million?

You’ve seen the headlines. Housing prices are on the rise. Buyers are getting frustrated with the high prices and the bidding wars.

Given the low interest rates and the need for more space, we don’t see housing prices going down anytime soon. In fact, it seems as though the only way is up. As much as we might complain about the high prices of housing right now, in 5 years, we’ll be saying, “Do you remember when a detached house was only $1.7 million?” I know this sounds hard to believe.

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Sadly, I Think We’ve Just Entered the First Year of the Hunger Games in Toronto

Hunger Games In Toronto

Are the current increases in real estate prices unsustainable? What we are seeing is a tale of the haves and have-nots playing out before our eyes in the economy and in the housing market. It’s as if we’ve entered the domain of the movie The Hunger Games which featured volunteers from various districts fighting for their survival while the wealthy watched.

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