What It Was Like to Get Caught in Toronto's Housing Slump
- The 18% dive in four months was faster than in U.S. crash
- ‘A speculative mood hit Toronto,’ Realosophy president says
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Toronto’s housing market has seen a stunning slowdown in the past year. Now one brokerage has cataloged the damage for 988 homeowners who got caught in the eye of the hurricane.
In the space of four months last year, the homeowners lost a collective C$135 million ($107 million) as the median house price slid 18 percent, a faster decline than any major market during the U.S. market crash, according to Realosophy Reality Inc.