Inventory building up in Toronto’s housing market

Toronto-area house hunters who are lamenting the thin supply of listings in the real estate market might consider a meander through Willowdale.

Mr. Kutyan chose Highway 401 as his dividing line because it’s a handy geographical and psychological barrier, he says. In the area he surveyed south of Highway 401, Mr. Kutyan found 120 sales in 2018 that met his search criteria and the average sale price was $2,490,370. “Their profit margins are being wiped out. For some of them, it’s not even about making a profit any more – it’s about mitigating their loss.”

TREB president Gurcharan Bhaura says a tougher stress-test on mortgage borrowing is keeping some aspiring buyers out of the market. Mr. Bhaura is calling on the federal government to look at bringing back 30-year amortizations for federally insured mortgages.At Bank of Montreal, senior economist Sal Guatieri is warning that the country’s economy is stalling. Real gross domestic product rose at an annualized rate of 0.4 per cent in the fourth quarter, he notes.

This is a PERFECT opportunity for the Government to act and restore SANITY to housing market. Half-way measures will only see housing bubbles shift from Vancouver to Toronto to Montreal and hurt young Canadian families, not Chinese speculators

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