Real Estate Market in Toronto

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  • Real Estate Market in Toronto

    Chess'n Math has been looking on and off at the possibilty of buying a property in Toronto which we could call home. In Montreal we bought when everything was for sale. We did well and today we are mortgage free with a 6,700 sq ft location in the centre of the city. Recently a great guy who also happens to be a real estate agent found something for us on Yonge Street opposite the Lawrence Street subway station...as he wisely advised...this will not stay on the market for long...it was 2 floors plus an unfinished basement (900 sq feet per floor). Asking price was 1.6 million...sold!...but not to us :)

    Yep...on the weekend I read in the Toronto Star...someone put their home on sale (located near the Chess'n Math location)...listed at 1 million 361 thousand...it sold 20 days later for 1.7 million LOL...

    I guess we will continue to wait for the bubble to burst...sad because we give our present landlord about $55,000 a year in rent etc :(

  • #2
    Re: Real Estate Market in Toronto

    I thought the real estate investment trusts were picking up any desirable locations which come on the market.

    What will be the catalyst for the real estate bubble to burst in Toronto, if there is a bubble. I've been reading there will likely be an influx of people moving to Toronto from Quebec if the PQ wins the election and separation becomes an issue. It was talking hundreds of thousands of people. I don't know the accuracy but it will likely drive the real estate prices in Toronto higher.
    Gary Ruben
    CC - IA and SIM

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    • #3
      Re: Real Estate Market in Toronto

      It doesn't look like that is going to happen at the moment. Aren't the Quebec provincial liberals cruising to a majority?

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      • #4
        Re: Real Estate Market in Toronto

        I think the liberals are leading in the polls but don't know the accuracy. Last polls I saw had the Liberals with a large lead in the Quebec City region which surprised me.
        Gary Ruben
        CC - IA and SIM

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