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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

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Comments

Real Estate again proves that it is the best investment product.

Posted by: Belleville Real Estate -Quinte Real Estate | Aug 22, 2010 10:30:37 PM

It is very interesting to read older postings of real estate trends and predictions at a later date. Result correlation against past predictions adds or subtracts from the credibility of future predictions. Compare past Belleville real estate trends and predictions with the Belleville Ontario real estate market of today

Posted by: Roy Brett | Aug 22, 2010 10:25:09 PM

Real estate is one of the best businesses now a day. Nice real estate blog. Thanks

Posted by: 1060 Brickell Condo | Jul 28, 2010 1:58:22 AM

I real enjoy this real estate blog. Good information. Thanks

Posted by: Surfside Houses | May 1, 2010 2:35:28 AM


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

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