A recent piece in the
New York Times looks at the booming Toronto housing industry and the best real-estate available in the downtown core.
"In stark contrast to the sagging residential markets of most major international cities, the Toronto skyline is a gallery of giant cranes in action. Buildings are going up left and right, and prices are rising accordingly."
"It's the first time in my career where I'm starting to not recognize addresses because of the pace of development," said Steven Fudge, the sales agent for the property featured here, who has worked in Toronto real estate for 20 years. "It's absolutely phenomenal."
"In 2008, in the middle of the economic downturn, many Canadians chose not to put their properties on the market, which prevented housing prices from dropping significantly. In addition, Canadian banks lowered interest rates. Soon afterward, the market began its revival."
"Now that everyone thinks we're out of the woods, coupled with historically low interest rates, there is a furor to get into the market," said Paul Johnston, a downtown Toronto-based agent with Right at Home Realty."
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hereoriginal source the New York Times