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1208TNTO
Toronto`s condo boom is heading for a bust
A prominent Toronto housing economist is warning of an impending chill in the city`s overheated condominium market.
The record number of units set for completion in 2009 and beyond will drive down housing prices and cause vacancy rates to go up as some condos sit empty.
By the end of September, there were 33,919 condos under construction in the Toronto metropolitan area – more than three times the city`s annual average – said economist Will Dunning in a report on the rental and condo markets.
http://www.yourhome.ca/homes/article/554394
Toronto`s condo boom is heading for a bust
A prominent Toronto housing economist is warning of an impending chill in the city`s overheated condominium market.
The record number of units set for completion in 2009 and beyond will drive down housing prices and cause vacancy rates to go up as some condos sit empty.
By the end of September, there were 33,919 condos under construction in the Toronto metropolitan area – more than three times the city`s annual average – said economist Will Dunning in a report on the rental and condo markets.
http://www.yourhome.ca/homes/article/554394