Quote:
Originally Posted by Innsertnamehere
it got cut by something like 60% in 2013 compared to 2011, but has returned to roughly 20% below 2011 this year. 2011 seems to be the peak year, but this boom is far from over. The last year or so was simply a repeat of 2008.
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Quite right. People perceive that sales are plummeting, but they're just coming down from absurdly high sales numbers attained in 2011. 2013 and 2014 look set to be very strong sales years, just not record shattering.
Quote:
Originally Posted by Innsertnamehere
The only thing is that now that new stock is coming online in significant numbers, condo prices have remained stagnant the last few years. I don't see this changing much, but it certianly makes Toronto more affordable.
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That's the best outcome we can possibly hope for. We have huge numbers of people wanting to locate in our city, huge amount of supply being built to meet the demand, yet enough to keep prices affordable. The last thing we need is a situation like exists in Manhattan or central London where only the wealthy can afford to buy.