I recently visited Vancouver. I was staying in Kitsilano… This city makes Toronto housing look affordable. Kits makes TO look downright cheap!?!
Picture a nice starter house in downtown Toronto…it’s likely going to cost $650k. Now…try imagine the same quality and size (with a west coast wooden style) this starter home in Kits would cost you $1.6 million…
Toronto has many job opportunities that can provide for housing. Vancouver however relies more on international (mainly Asian) investments. In some cases one buyer will purchase multiple homes sight unseen.
Toronto is a great international city. Only when you have an opportunity to visits others do you gain this perspective. I firmly believe that TO’s housing market will hold it’s value over the long term.