There might not be a topic more contested in the financial community than the future of the Toronto housing market. Bulls point to low interest rates, crazy bidding wars for desirable neighborhoods, and a steady stream of new people moving to the city as proof the market is in great shape. A steadily rising price is the result of a healthy market.
Meanwhile, bears look at factors like record high price-to-income ratios, impending rate hikes, and record consumer debt levels as evidence the madness just can’t continue. They contend the market is primed for a correction, perhaps even a crash. It just needs a catalyst.
It’s obvious the market is stretched, it’s only a matter of when the party decides to come to an end. It could stop soon, or it could go on for another few years; nobody really knows a timeline for such things. Here are five facts about the Toronto market that should give everyone pause.
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