Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Toronto condo market unlikely to see jolt as conditions vary elsewhere in Canada
In this episode, Steve opens with a welcome and introduction, setting the stage for an insightful discussion. Janine follows with a sponsor message from Real Approved Inc. Steve then provides an overview of Canadian condo markets, highlighting affordability issues and making regional market comparisons. Janine explores developers' cautious approach to new projects amid current market conditions. The episode wraps up with Steve offering thanks, followed by Janine delivering a closing sponsor message from Real Approved Inc.
Key Points
- The Greater Toronto Area's condo market is experiencing a significant mismatch between available inventory and buyer demand, with sales down by 23.5 percent compared to March 2024.
- Despite decreased borrowing costs, affordability remains a major barrier for potential buyers in Toronto, as incomes haven't increased significantly.
- Different Canadian cities are reacting uniquely to the current economic climate, with Montreal and Calgary seeing better performance in their condo markets compared to Toronto.
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Transcript
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