The cynical answer is that it isn't money made in Canada that is being used to purchase these units.I figured this one would go ahead.... glad to see its selling so well! I still can't get over the pricing , I get it ....you are DT Toronto on a major subway line on a main artery. But $1,100,000 for a 720 sq ft 2 bedroom unit? Plus $650/month in maintenance ? Yikes! You could get that same unit up in Barrie for $450,000 but the only difference is that its 30% bigger and includes parking! (oh and fees are in half) . I have no idea how people can afford to buy these things.
I am clearly living in a different reality then.Most of that money is made in Canada I can relate! ....trust and believe the numbers sound high but it’s not that difficult.
For a first time buyer I wouldn’t recommend YSL there are areas that FTB can get into, lease the unit or house out grow some equity.I am clearly living in a different reality then.
Most of my circle are young professional types, and these type of prices are well beyond their means, even if aiming to purchase with a partner.
I don't think it matters as much where the money is made compared to who is buying. Is it end users planning on living there or real estate investors planning an exit? Cresford's boss is very connected in private equity circles and their projects sell out in a day. Draw your own conclusions.The cynical answer is that it isn't money made in Canada that is being used to purchase these units.