Canadian Mortgages – Then And Now
I’m often asked about the rising costs of homes in the GTA, whether this market is overvalued, whether we are in a housing bubble, and so on. Clients who thought they would wait it out a while ended up getting into the market, and have already seen their property values increase significantly over the last couple of years.
A recent article in the Globe and Mail compared today’s housing prices across Canada with those in 1981, and adjusted the numbers for inflation:
Although Toronto’s prices are higher than the national average, they are nowhere near Vancouver’s either historically or currently.