UNDERSTANDING THE NEW TORONTO REAL ESTATE MARKET
Understanding Toronto's Changing Real Estate Market
"Never has the lower end been easier to sell when the next level has dropped in price"
First of all, real estate is not ONLY all about economics as most economists would have you believe. Real estate is still about accommodation. You can get out of the oil, gold, or stock markets but you cannot escape the need to have a roof over your head. Most sales transactions occur because of a change in family circumstances - marriage and divorce children and even death. So there is always going to be an active real estate market.
Secondly, the BUY versus Rent option that economists keep talking about is not an option for most of us. Already 68 per cent of Canadians own their own home. If everyone tried to rent, how would that work?
This market is a great time for "move up" buyers.
While prices are softening at the high end,450,000 and up
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* Properties without a mortgage
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Remax - Ashley Fray - Condos TorontoAshley@AshleyFray.com
1170 Bay Street Unit 110