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Old 03-19-2012, 10:10 PM   #7 (permalink)
is pounding the rock!

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Join Date: Jan 2008
Location: St.Catharines
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This is specific to one area and one type of dwelling, but it's interesting what's happening in Toronto now as far as the new construction condo market goes. Most units are tiny and are being purchased by investors who rent them out. A huge chunk of those investors are from Asia and actually have preferential treatment - first dibs when new buildings go on the market - so even if a Torontonian had the coin, it's hard to find the right place. I think it's driving the prices up ($300,000 for an 800 sq ft one bedroom!) and doing serious damage in terms of what kind of lower downtown Toronto's going to wind up with.
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