Toronto's real estate market is tanking and experts are pretty worried

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Toronto's real estate market is tanking and experts are pretty worried Toronto TorontoRealEstate RealEstate

new home market slid

Even fewer new single-family homes were purchased during the month, with just 89 homes marking a staggering 86 per cent year-over-year decline, sitting 87 per cent below the ten-year average. BILD warns that this only represents 3.5 months and 2.7 months of respective inventory, compared with the 9-12 months of inventory expected of a balanced housing market.prices for new condominium apartments

 

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Yes...buy low...sell high

What do people do when they paid 800k for a home to have its worth drop to 400k in a few years...🤔

We have yet to hear about really significant and immediate steps to address the crisis in affordable rental housing! Surely these two issues are connected, but you can't ignore renters.

Where will the real esgate agents get their money from?

Only 533 new condominium apartments were sold region-wide in August, the number representing an 83 per cent dip below the sales figure for August 2021, Even fewer new single-family homes were purchased during the month, with just 89 homes marking a staggering 86% decline

I’ll consider it tanking when a 2 bed condo goes for 100K

Prices went up 40% (in some areas) last year and now down 10-20% I barely call that tanking. It's still up vs even October 2021

Who can buy Homes? If they are investors this New is great for people that needs homes to live.

The gist of the article is that volume is tanking, not prices, no? Seems like a false lede.

Imagine that. They raise the prices high enough that nobody can afford to buy, then wonder why nobody is buying.

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