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Toronto’s House Price Bubble Not Fun Anymore

By Patrick following x   2018 Jun 7, 7:53pm 307 views   2 comments   watch   sfw   quote     share    


https://wolfstreet.com/2018/06/04/toronto-house-price-bubble-deflates/

But it’s not just at the high end. At the low end too. In May, sales of homes below C$500,000 – about 68% of them were condos – fell by 36% year-over-year to 5,253 homes.

The TREB publishes two types of prices – the average price and its proprietary MLS Home Price Index based on a “composite benchmark home.” Both fell in May compared to a year ago.

The average price in May for the Greater Toronto Area (GTA) fell 6.6% year-over-year to C$805,320, and is now down 12.3%, or an ear-ringing C$113,000, from the crazy peak in April 2017.


1   Strategist   ignore (1)   2018 Jun 7, 9:18pm   ↑ like (0)   ↓ dislike (0)   quote        

Patrick says


I won't be surprised if Toronto home prices starts increasing again. I would bet they will be higher one year from now.
2   APOCALYPSEFUCKisShostikovitch   ignore (32)   2018 Jun 8, 2:54am   ↑ like (0)   ↓ dislike (0)   quote        

Better build a northern wall now for the wounded, dying and fleeing the Cannibal Anarchy in Ontario.




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