Toronto on fire thanks to record housing starts. - CondoSavvy

Original article via Mortgage Broker News.

Canada’s housing starts were through the roof last month thanks to Toronto’s condo market.

Condo starts in the country’s most populous city spiked 138% last month—a 30-year high—and, according to CanWise Financial’s James Laird, that’s because condominiums are the only option for the largest demographic of purchasers.

“It continues to be the only option for many first-time buyers trying to enter into the housing market,” said Laird, CanWise’s president and broker of record.

 

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