Advertisement
Mayor John Tory says the situation is deeply troubling
TORONTO — The mayor of Toronto is expressing concern at the latest data on the city’s hot housing market that shows home prices continue to soar.
The Toronto Real Estate Board says the average selling price for all properties in the Greater Toronto Area jumped from $688,011 to $916,567 over the last year — a rise of 33.2 per cent.
Mayor John Tory says the situation is deeply troubling to a lot of people who are trying to buy homes in the city.
He says responsible, effective action is needed to tackle the issue.
The city’s real estate board says demand for housing continues to exceed supply — one of the underlying causes of the soaring price increases.
Ontario Finance Minister Charles Sousa has indicated there will be measures in the province’s upcoming budget to address the housing market.
Read more:
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
A new EY survey has found that demand for EVs and hybrid vehicles has dropped slightly, with drivers citing...
Consumer debt reached a record $2.5 trillion last quarter. Find out what’s driving increased debt levels among certain groups...
Economists share how the temporary tax cut and relief cheques may play into Canada’s growth picture.
Here’s how to get your free ticket to attend the MoneyShow virtual expo.
Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips.
The world’s biggest cryptocurrency topped USD$98,000 on Nov. 21. As it inches ever closer to six figures, investors wonder:...
Canada’s inflation rate rose to 2% last month, up from 1.6% in September, but a December interest-rate cut is...
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
If you’re one of the many Canadians looking for Black Friday and Cyber Monday discounts, here’s how to know...
