The Condo Market Collaspe is a Myth
Toronto Skyscraper Listing
As I reported last week, that the Toronto Condo Market Collaspe is a myth, here comes the Toronto Star to back up my analysis. Year, over year, Condo sales for Toronto are actually up. You see, the month to month, or the year to year figures are meaningless, when you factor in that 2011 was a crazy good year for condo sales. I mean there were 28,000 condo units sold last year. This historical average for Toronto is between 18,000 to 20,000 units over the past 10 years. Last year was ridiculous. You see, you follow my blog, you're ahead of the curve. Don't let the fools, make you a fool too:
Toronto Condo Crash Myth _ Toronto Star
My Blog Post From Last Week:
From the Toronto Skyscraper Blog:
If anything, unsold inventory, is beginning to dry up, as developers put condo projects on hold. As unsold inventory stocks decline, the desire for new product will pent up again, and we'll see a flood of new proposals, and record sales numbers. This actually happened recently with the Ten York project in Southcore, launched by Tridel, they sold an mind-blowing 88% of the units available for sale within the week. This is no small project, it will be near 230 meters when complete with a total of 800 units. The fact this happens, when all the media naysayers are saying this is a condo bubble, just proves they have no clue, in their brains. The bubble is a myth.
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