Toronto prices have risen 78% since 1997

miguel · TOP Guru

RE: Toronto prices have risen 78% since 1997

LGigolo · Comandante

Dogo wrote:

LGigolo wrote:
Prices are hight; but STILL relatively cheap if you compare to say NYC (say, just QUEENS area - don't bother mentioning Manhathan) prices where you can't get much for under a million.

That's not a fair comparison, dude. You're comparing it to, likely, the most expensive city in North America

Yes, ture - it is not a fair comparison. But both are like the most populated, most commercial cities in their respective countries. As more and more immigrants continue to come, the demand for house continues to keep up, the prices are likely continue to raise. Housing is about the surest investment one can make - most people make dough investing in real estate.

X4v13r · Comandante

I just added more to my original post.

~X

X4v13r · Comandante

yes but this is talking about the toronto area, u can always move out of the city to find something that u can afford...... but the good thing about the toronto area is that u will get a big return and a small period of time.

~X

Dogo · Comandante

LGigolo wrote:
Prices are hight; but STILL relatively cheap if you compare to say NYC (say, just QUEENS area - don't bother mentioning Manhathan) prices where you can't get much for under a million.

That's not a fair comparison, dude. You're comparing it to, likely, the most expensive city in North America

LGigolo · Comandante

Prices are hight; but STILL relatively cheap if you compare to say NYC (say, just QUEENS area - don't bother mentioning Manhathan) prices where you can't get much for under a million.

Dogo · Comandante

If you've missed that boat, I can't imagine how people with little downpayment can buy nowadays, without making huge sacrifices
THere's an article on this months Toronto Life that talks about yonge couples that have become slaves to their mortgages
Something's gotta give

God · Foro Master

X4v13r wrote:

Best decade for homes
Toronto prices have risen 78% since 1997

The last decade has been one of the best on record for residential real estate in the Toronto area, says a study released yesterday by ReMax.

Existing home prices from 1997 to 2007 increased by 78 per cent for a 5.9 per cent compounded annual rate of return. Unit sales were also 61 per cent higher in 2007 compared to 10 years ago.

The average price of a home in 1997 was $211,307, before steadily increasing every year to $376,236 at the end of 2007.

source

so if u people have some extra money around invest in a house or condo downtown or somewhere in toronto.......

~X

I know a ****ty townhome in Toronto iis priced on the 350's range...makes me wonder when I would own again

X4v13r · Comandante

Best decade for homes
Toronto prices have risen 78% since 1997

The last decade has been one of the best on record for residential real estate in the Toronto area, says a study released yesterday by ReMax.

Existing home prices from 1997 to 2007 increased by 78 per cent for a 5.9 per cent compounded annual rate of return. Unit sales were also 61 per cent higher in 2007 compared to 10 years ago.

The average price of a home in 1997 was $211,307, before steadily increasing every year to $376,236 at the end of 2007.

not among the best

Toronto didnt even make it in the top 10 markets nationally in price appreciation over the last decade.
Edmonton was first with a 203 per cent increase or 11.7 per cent annual compounded return.
Nationally, prices were up 98.7 per cent, or 7.1 per cent annually, which put Toronto below the national level.

source

so if u people have some extra money around invest in a house or condo downtown or somewhere in toronto.......

~X

-- Edited by X4v13r at 09:57, 2008-02-22