Toronto: House Prices

Barry Lyon Dept: Too much concern has focused on Toronto s condo boom and fears it s about to go bust when the bigger issue for the city is the dramatic escalation in prices for single-family homes and demand that continues to far outstrip supply, says veteran housing consultant Barry Lyon, according to The Star. And while everyone is focused on all those glass-and-steel highrises pushing up into the sky, not enough attention is on the ground where construction of new single-family homes has dropped like a rock and toronto could see house prices hit the stratospheric levels of Vancouver s within a decade unless ways are found to cool demand or boost the supply of single-family homes, says one of the city s leading housing experts. There is a growing realization that the GTA housing market, and Toronto in particular, has become very much a tale of two markets houses and high-rise condos. (www.immigrantscanada.com). As reported in the news.