The Toronto real estate market is on fire. According to the Toronto Real Estate Board, Greater Toronto Realtors reported a 77 % increase in sales and a 19% increase in average price in February 2010 over February 2009. Sales and average price increases represent both increased demand for ownership housing and the base year effect, which involves a comparison of economic recovery this year to a period of economic decline last year.
If you are one of the many Torontonians participating in the “mad rush” to get into the real estate market, take a break from the bidding wars and ask yourself if buying a home is a good investment for you. Here’s an article, by Canadian Business, challenging conventional wisdom on home ownership (Thanks to Stefano and www.mycasite.com for bringing it to our attention). Have a read and tell us what you think by participating in our poll over there ———–>
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