>>56863All of the housing bubble talk..
It won't drop any time soon, unless you have government intervention into the market forces like the 15% foreign buyer tax in b.c.
It's regional and its here to stay, if you want the price to fall, sell your house. Who's selling their property? No one. It's just as expensive to move so it's all relatively the same.
It's a supply vs demand issue and at the core there's no supply
Look at current MLS listings vs how many are sold any month
Demand out strips the supply in the gta big time.
Super low interest rates means many people can finance cheaply and make a bid on a house
On top of it all, CAD$ took a shit along with oil and other commodities
Relatively, real estate is expensive cause we Canadians are poor and bogged with taxes
But look at Toronto real estate in USD$ terms and see its still cheap, compare it to Manhattan, damn..
Toronto is a global aloha city and turning to a mini nyc, it's just catching up to the price level of other global alpha cities, but not as bad because it's Canada, not usas Manhattan or uks London. Nvm hongKong and Singapore
