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 Nouvelles

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.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 5. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

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
La source: globeandmail - 🏆 5. / 92 Lire la suite »