Tal: Toronto

Toronto: There is excess supply in both Vancouver and Toronto, Tal said in a report released Thursday, but even if half of the new units are rented out, it will barely nudge vacancy rates for renters. , according to CBC. Tal points out that 75 per cent of the new housing starts in Toronto are in multiple-unit buildings, and 35,000 units could come on the market by 2014. A record number of condominiums are scheduled to go on the market in Toronto in 2013 and 2014, but that doesn't mean the real estate sector is headed for a crash, according to analysis from economist Benjamin Tal. Vacancy rates, already very tight in both cities at 1.7 per cent, could edge upward by 0.3 per cent to 0.4 per cent, too little to ease pressure on rents, the report said. No big price drop (www.immigrantscanada.com). As reported in the news.