Pursuits
Toronto Home Sellers Vanish as BMO Warns of Housing Bubble
- Sales to new listings in Toronto rise to record 94% in January
- BMO economist Porter says Toronto housing market in bubble
A small park at the corner of Cornell Park Avenue and Country Glen Road in the Cornell subdivision north of Toronto.
Photographer: Carlos Osorio/Toronto Star via Getty ImagesThis article is for subscribers only.
Conventional wisdom suggests that when prices soar for something, so does its supply -- except when you are talking about Toronto’s housing market.
Real estate in Canada’s biggest city has become so expensive that potential home sellers are pulling out of the market altogether, possibly since they have nowhere cheaper to move to as the housing boom expands into Toronto’s suburbs and neighboring towns.