Speculation about the future of Toronto’s red-hot real estate market is an everyday conversation piece, with journalists, economists, real estate brokers, policy-makers, and investors all having opinions. Will the steadily rising property values in Toronto (often speculated to be a “real estate bubble”) continue to climb in the coming years? Will foreign investment play a larger role in occupancy, prices, and density? And in particular, will the condo market reflect the boom of non-condo residential property values, and to what extent?
First, consider the fact that this mythical “bubble” is really not one at all. Robin Wiebe, a senior economist with the Conference Board of Canada,