News Formal

Toronto's condo market is in a tailspin and people are worried

  • 📰 blogTO
  • ⏱ Reading Time:
  • 32 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 51%
  • Publisher: 63%

Toronto Nyheter

Real,Estate,Housing

It's been hard to find a pulse in Toronto's formerly-scorching real estate scene lately, but owners and builders in one particular segment are flou...

It's been hard to find a pulse in Toronto's formerly-scorching real estate scene lately, but owners and builders in one particular segment are floundering the most: the condo market.

Some experts, like investment advisor and real estate writer Hilliard MacBeth, feel that the state of the condo segment could"sink the market" as a whole."A massive glut of condominium apartments in Toronto threatens to sink the housing market. Condos were gobbled up by aggressive, highly levered speculators as a way of participating in the housing boom with minimal capital outlay.

He continues to explain how first-time homebuyers have no interest in the micro-condos that are rampantly for sale, and that"few people want to live in" because they were designed with investors in mind.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 44. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Toronto condo sells at $320,000 loss amid condo market woesA 37th-floor luxury condo in the heart of Toronto’s entertainment district that sold for a $320,000 loss is an example of a condo market that hasn’t been this tough in decades, Realtors and observers say.
Källa: CTVToronto - 🏆 9. / 84 Läs mer »