As the Toronto condo market sags, maybe renting is better after all

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 46 sec. here
  • 49 min. at publisher
  • 📊 Quality Score:
  • News: 186%
  • Publisher: 92%

Canadian News Notícia

Canada News,Breaking News Video,Canadian Breaking News

There’s a pile-up of six months’ worth of inventory of Toronto condos. Even if nothing new comes up for sale, it would still take six months to sell every condo

.

All feedback I received from loved ones and industry people was unanimously in favour of buying. And experts quoted in the media seemed to support – or at least presume – the positive outcomes of ownership. Conversations were framed in the context ofand locked in rate holds. I was ready but convinced that a couple more Bank of Canada rate drops would perfect my plan.The landlord of my condo rental put my one bedroom plus den unit up for sale. He priced it averagely for the current market.

Clearly, both my landlord and I have been slow to settle into this very new reality. But this isn’t just my condo – it’s the Toronto condo market in 2024. A modest one-bedroom condo priced at $550,000 with taxes and fees costs about $3,200 a month for mortgage payments. Renting a unit of this size in the first quarter of 2024 averaged $2,400 a month. For investors, the math no longer works.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 5. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Argos and TFC president leaves MLSE ‘by mutual agreement’ as Pelley begins to put his stamp on companyToronto FC and Toronto Argonauts president Bill Manning parts ways with MLSE
Fonte: globeandmail - 🏆 5. / 92 Consulte Mais informação »