You may have seen this new billboard if you were cruising around Spadina Ave and Queen St W after May 17th. As sarcastic as it is, having your parents help you with entering the real estate market is the new norm, particularly here in Toronto. Wealth is beginning to shift generationally as parents help their children with down payments and, in some cases, even paying the mortgage.
Toronto’s real estate market has been characterized by its intense competition, lack of supply and soaring prices. The pandemic has further exacerbated the market, pushing more and more buyers out. Millennials and younger Canadians, seniors and those on fixed incomes, and young families without the luxury of generational wealth are feeling the brunt of such a market.
Despite a global pandemic and enduring the second wave, Toronto’s real estate market is as competitive and hot as ever. Rents are hitting a huge low as an unprecedented exodus from the city begins as remote working becomes the norm. With the many industries suffering through these changes, why is the real estate market still so crazy?
December 2020 marks the closing of an unprecedented and unpredictable year. Despite the global pandemic, competition for residential real estate is still as heated as ever in Toronto and the wider Ontario markets. Today we decided to have a look at Ontario’s different real estate markets and see how 2020 fared amidst a tumultuous and challenging year.
A look into the future of Toronto’s real estate market. With a global pandemic raging across the world, the future is uncertain. In this article, we analyse different sources to predict what may become of Toronto’s real estate market. By no means is it certain, but perhaps its not all doom and gloom.
