Average cost of a detached Toronto home tops $1-million

[NorthernDancer]

Average cost of a detached Toronto home tops $1-million

http://www.theglobeandmail.com/repor...ticle23278494/

Toronto has joined the $1-million club.

The average cost of a detached home topped that mark in Feburary, hitting $1,040,018, the Toronto Real Estate Board said Wednesday.

That marked the first time above $1-million, and an increase of almost 9 per cent from a year earlier, and came as the group reported another surge in both sales and prices last month.

[fflint]

Assuming that's Canadian dollars?

[pdxtex]

which would make it even higher in us currency...wow...toronto is basically a world city smack in the middle of the midwest. so much for my winter makes it cheaper theory....

[softee]

Originally Posted by pdxtex

which would make it even higher in us currency...wow...toronto is basically a world city smack in the middle of the midwest. so much for my winter makes it cheaper theory....

Well, it's due North of New York State, so not exactly "smack in the middle of the midwest".

[Docere]

Originally Posted by pdxtex

which would make it even higher in us currency...wow...toronto is basically a world city smack in the middle of the midwest. so much for my winter makes it cheaper theory....

Toronto is north of New York State.

$1 million CDN = $800,000 US

[sopas ej]

Originally Posted by Docere

Toronto is north of New York State.

$1 million CDN = $800,000 US

Being that I'm from California, that isn't a shocking price at all.

It's all relative, of course.

[Centropolis]

is canada short of cities? jesus. it's sort of a shame we can't give you some in a way.

[pdxtex]

Originally Posted by Docere

Toronto is north of New York State.

$1 million CDN = $800,000 US

oh rats, yeah i always mess that up (math dyslexia). yes, the us dollar is currently worth $1.25 canadian...but still, 800k is alot of loonies. concerning its location, it may as well be in the midwest. its 2.5 hours east of detroit also. michigan is socially an extension of southern ontario....

[Docere]

Not as bad as Vancouver at least. $1 million (CDN) is the price for a detached house in Burnaby. That's like paying $1 million for Scarborough!

[dc_denizen]

lack of new supply, plus sunbelt-levels of foreign immigration.

Hire some Houston homebuilders, they can throw up a Kingwood or Woodlands north in 1 year!

[softee]

Originally Posted by pdxtex

its 2.5 hours east of detroit also. michigan is socially an extension of southern ontario....

It's 4 hours East of Detroit.

Michigan is really only similar to extreme Southwestern Ontario, and even then the similarities only go so far.

Buffalo is by far the closest major U.S. city to Toronto.

[Steely Dan]

toronto is not in some canadian version of the midwest.

however, it's definitely a great lakes city (duh).

[Boris2k7]

Originally Posted by Centropolis

is canada short of cities? jesus. it's sort of a shame we can't give you some in a way.

Well, just under half the nation's population lives in the six largest metropolitan areas. So in a way, we are.

[dc_denizen]

Interesting article:

House prices: countries with the cheapest and most expensive property markets
Authoritative research by the OECD highlights property markets in Australia and France as overpriced - but Portugal's a bargain

[pdxtex]

Originally Posted by softee

It's 4 hours East of Detroit.

Michigan is really only similar to extreme Southwestern Ontario, and even then the similarities only go so far.

Buffalo is by far the closest major U.S. city to Toronto.

clearly you've never driven with my brother. if you are hauling ass you can hit hamilton in about that time, its the edge of the horseshoe. but yeah, you aren't sipping drinks at the royal york in that time. torontos history as a industrial great lakes city, shipping center and center of heavy manufacturing sures sounds like the history of chicago, cleveland, detroit, milwaukie. anyway, call it what you will or what is was.

[pdxtex]

Originally Posted by Steely Dan

toronto is not in some canadian version of the midwest.

however, it's definitely a great lakes city (duh).

correct, its in the north american midwest. or may as well be. social standards and similarities dont magically stop at the border.

[Docere]

Think of Toronto as Queens surrounded by SoCal on a Great Lake.

[Steely Dan]

Originally Posted by pdxtex

its in the north american midwest.

but that's not a thing.

toronto is due north of buffalo.

buffalo is not in the midwest.

toronto is too far east to be in some canadian version of the midwest.

you're confusing "great lakes" with "midwest". those two regions do have a lot of overlap, but not where toronto is located.

[dc_denizen]

Originally Posted by Docere

Think of Toronto as Queens surrounded by SoCal on a Great Lake.

Toronto is downtown Houston on a lake with Miami condos (but colored dark-grey) instead of parking lots, surrounded by a combination of Queens and the quaint parts of Columbus, OH, encompassed in a belt of pre-decline Detroit suburbia, and transitioning to Ontario, California at the fringes. Oh, with a dash of Co-Op City sprinkled across the city.

Populated by a mix of wannabe Britishers, ex-Americans, and third-world emigrees.

QED!

[Docere]

I don't see the Houston comparison. The Sunbelt feel is in the 905 belt not the core.