Canada’s Housing Starts

RESPONSE TO “CANADA’S HOUSING STARTS STAND UP TO REALITY CHECK”

Below is an article published on Thursday, January 10th in the Globe and Mail. It represents an accurate picture of the state of Toronto’s new and resale condominium industry. I have been pounding the table expressing exactly this. Yes, sales have slipped. Yes, prices have levelled off or in limited cases slightly decreased. THIS IS TEMPORARY. It is entirely due to the finance department’s meddling. Shortly, perhaps in the spring of this year, you will start to see a return to a slowly rising condominium economy. There is no bubble, there is no crash. There is an economic recovery taking place.

Read more about my thoughts in my new newsletter, “The Myth of the Toronto Condo Bubble,” coming soon.

Please also read Mr. David Parkinson’s article.