Of course you have probably heard that condo buying prices keep going in one direction – up.
As you study the statistics of this article you will feel a sense of wonder of how long this can go on.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 5,367 condominium apartment sales through TREB’s MLS® System in the fourth quarter of 2019. This result was up by 3.8 per cent compared to the fourth quarter of 2018. Source: © Toronto Regional Real Estate Board
STOP and realize that you have never ever seen prices rise so fast for so long and so high like this before anywhere in the history of Canadian real estate. Obviously, you have to wonder how long an owner’s net worth will increase at the expense of a buyer’s debt.