Regulations can’t hold Toronto’s condo market down. Condo prices have risen 20 percent compared to February last year, according to Bloomberg, while sales of detached homes sank by more than 10 percent. Regulations were supposed to decreases for both markets, but an unexpected twist has occurred. On January 1, new mortgage regulations that required buyers to prove they could afford payments at least 2 percentage points higher than the price they go into contract at, […]
source https://therealdeal.com/2018/04/01/torontos-condo-sales-soar-thanks-to-regulatory-efforts-to-cool-the-resi-market/
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