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CMHC releases report on health of various housing markets

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Real Estate Professional | 29 Oct 2015, 12:26 PM Agree 0
Four major metropolitan areas show strong evidence of problematic housing market conditions, according to a report from the Crown Corporation.
  • | 29 Oct 2015, 09:05 PM Agree 0
    This report does not include any supporting evidence, to why CMHC chief economist think this way. Look around the globe and then compare, if Toronto is still a deal or not.
  • | 30 Oct 2015, 03:15 AM Agree 0
    I AM A TORONTO BASED BROKER (SINCE 1960) BUT AS A MEMBER OF FIABCI AND HAVING SOLD IN EUROPE I HAVE MIXED FEELINGS ABOUT TORONTO BEING OVERVALUED. yes there are pockets where poorly constructed homes that have been cheaply renovated are selling for $ 1 million and up .without parking...compared to solid brick homes well built in more established areas at 2 TO 3.MILLION ON BETTER LOTS . This is a question of affordability over value where the price of 2insul brick semi s can be more than 1 solid brick home on a much bigger lot with a private drive. unfortunately the younger buyers just cannot afford the better value BUT WE HAVE A HUGE SELECTION OF HIGH RISE CONDO FROM AS LOW AS $ 300 ALL THE WAY TO 5 MILLION in central areas. some with no need for driving to work but they are small for anyone wanting family space. Affordability in the $3 mill and up is not a problem in either larger condo apts or single family homes and in that range we do still compare very well with other major cities. Our biggest shortage is in the lower affordability range from $500 to $ 800.unless buyers are prepared or able to commute. TORONTO has better values in central areas than a lot of other major cities including Vancouver so I would not call it over valued on an international scale,
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