« American home resale sales jump 9.4% | Main | Competition Bureau acts on MLS fees »
Rebound hammers affordability
Housing affordability deteriorated sharply in Toronto in the third quarter of 2009 as home prices spiked above pre-recession levels. "The big improvement in stock markets likely helped drive prices higher, especially since Toronto has many people who work in the financial services area," Hélène Bégin, senior economist at Desjardins Bank, said in an interview yesterday.
Low interest rates, pent-up demand and a lack of listings saw average Toronto prices for existing homes hit $402,762 in the July-September period, the largest such increase of any Canadian city.
See article by Tony Wong in the Toronto Star »
October 29, 2009 in Toronto Real Estate Trends | Permalink
TrackBack
TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c51e453ef0120a6334893970b
Listed below are links to weblogs that reference Rebound hammers affordability:
Comments
Maybe this is more reason to find an affordable way of life and take advantage of PEI's amazing real esate deals. It's just a shirt hop from T.O. and can either be a whole new way of life or at least an affordable 'escape' that's totally affordable, even witht the periodic flights to Charlottetown. Sure as hell beats Muskoka prices....and you can buy lobster from the wharf for $5 a pound....
Discover Canada's Island Paradise...
http://www.LivethePEIdream.com
Posted by: Hamish R | Nov 13, 2009 12:40:22 PM
Hey if you are looking for an estate with low interest rate and no hidden mortgages, visit http://www.teamguernsey.com/ by Belleville Real Estate for great offers and hot deals!
Posted by: Wingates Belleville | Oct 30, 2009 1:26:56 AM
