Is there overbuilding in the Toronto condo market?Probably Not. The population estimate from stats can shows that the Toronto CMA has grown by over 100,000 per year over the last 5 years, and will grow by another 100,000 in 2013. Whatever half-ass analysts predicts that Toronto will grow by 50,000 to 60,000 is complete off his medication. It's ok, we can get him some whenever he needs it. So if in Toronto there are 25,000 completions to accommodate the arrival of 100,000 new people to the area does that make sense? Is that over building, hardly so, in my opinion. The doomsayers have long been predicting the death of the Toronto Real Estate Market and in particular the condo market. I wish they could fill the room with something other than hot air.
This fool has a blog you can visit it here.
He is a Doomsayer on the Toronto Market.
Rabidoux : the Economic Analyst blog
2012 & 2013 estimates
2012 2013
========= =========
Toronto (city): 2,791,140 2,829,149
Toronto CMA: 5,941,488 6,041,998
Greater Toronto: 6,467,000 6,571,500
Golden Horseshoe: 7,423,392 7,532,312
Greater Gold-shoe: 9,263,725 9,388,427
No comments:
Post a Comment