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housing bubble toronto
The average sales price of a home in Canada reached $548,517 in March, up 8.2 per cent in a year.
By the time the public realizes it's a bubble, it's already over.
But Toronto's party is about to end, Ontario's fiscal watchdog warns.
“It will be incredibly tough to attract talented folks ... if they will struggle to buy a home and yet still pay taxes of over 50 per cent."
The last time a bubble burst in Toronto, prices fell for seven years.
"Toronto and any city that is remotely within commuting distance are overheating, and perhaps dangerously so."
