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WHAT IS GOING HAPPEN TO HOUSING IN OUR CITY?
I own a condo in downtown Toronto that isn't selling, and I prefer not to rent it out. As a result, I’ve decided to leave it vacant. The current state of the condo housing market appears to be in disarray. Despite this, our mayor OC is increasing property taxes every second she can in a city where many residents struggle to afford living expenses… WHAT IS GOING HAPPEN TO HOUSING IN OUR CITY?
User Image Dave D Posted at 2 months ago
Lina Tennyson Image Lina Tennyson - Home Life Cimerman Sent you a message - 2 months ago

Hi Dave, if you or your family or friends using your condo as a second property you can declare that is not empty

Tony Sbrocchi Image Tony Sbrocchi - Meta Realty Sent you a message - 1 month ago

Many buying groups are coming in to buy unsold inventory from builders that are nearing close. These units will become rental units, bringing rental rates down as they flood the market. The good thing is they will be holding these for 10 years more than likely. The builder's are reducing pricing severely so not to have to close on these units themselves. Your up against new product selling for less than yours. Renting is a viable option until the market rebounds, unless you need the capital now. By mid 2028 the market will starting to rebound, there will be limited supply due to all the projects that have cancelled in the last 2 years.