Reposted from Toronto Real Estate Blog
No one has ever explained "over supply of condos" to me. All of the buildings you see going up are 80% bought and the completed ones are 90% sold. It is not like they are all being dumped into the market, for sale. Only those that are bought are built, so the supply is pretty much exactly what the demand dictates. Mortgage rates went up 1/5th of 1%, big freaking deal! This is NOT news!
The original post can be found here - Toronto home prices up but rising mortgage rates could spell trouble
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