Bubble be damned, Toronto just keeps on building more condos

Bubble be damned, Toronto just keeps on building more condos

(Image: Jenn’s View) 

Toronto’s condo boom is still barrelling forward—the number of buildings starting construction surged in the first quarter of 2012, and the 148 skyscrapers and high-rises currently under construction in Toronto easily outnumber those of any other North American city (including New York and Chicago). The question, as always, is, can the hot market last? Experts quoted on Moneyville.ca worry that supply will outpace demand (the forest of cranes dotting the skyline would suggest as much) and that investors aren’t snapping up units as quickly as they used to. However, an analyst cited by the Globe and Mail believes a dearth of detached homes, not just speculators, is driving demand for condos. With such a steady stream of contradictory opinions, there’s only one prediction that seems rock solid: there will be more condos. So many more condos. Read the entire story [Globe and Mail] »