Vancouver is out, Toronto is in as Canada’s hottest housing market

Though Vancouver has long been considered Canada’s most soul-crushing heated real estate market, an analyst at BMO Capital Markets says Toronto is poised to take the title. Observing that the price of an average home in the GTA rose 10.5 per cent in March 2012 compared to the same time a year earlier, BMO’s Douglas Porter writes, “That is the market to watch now, no two ways about it.” So, prepare thyselves, Torontonians—now that Toronto is the market to watch, $500,000-plus basement suites can’t be far behind. Read the entire story [Vancouver Sun] »