Vancouver experienced a similar trajectory in its housing market, ultimately leading to intervention on the part of the B.C. provincial and Canadian federal governments, steps that some observers were suggesting could prove necessary in Toronto’s current context.  David McKay, head of the Royal Bank of Canada, said of the price growth in the Toronto market, “That’s concerning. That’s not sustainable.  Therefore, I do believe we are now at a point where we need to consider similar types of measures that we saw in Vancouver.”

Vancouver’s housing market cooled after British Columbia’s government levied a fifteen percent tax on foreign housing purchases in Vancouver and Ottawa tightened mortgage lending requirements.   Some think that similar measures may be best for Toronto, with the  hottest market since the 1980s.

Business Edge Designs
1-800-975-6352
416-436-8818

www.businessedgeservices.net

The post Toronto’s Real Estate: Bubble or Steady Bull in Changing Winds? appeared first on Business Edge Designs.