29 July 2014
“During the past few years Toronto home prices have actually seen a larger increase, mostly due to provincial constraints,” – Porter notes. “In the same time, even GTA growth was not so significant, especially when compared to remarkable boom of the late 1980s and the same decline of the early 1990s.”
In addition to it, Porter draws a parallel between Canadian hottest markets and comparable world markets.
“Although Vancouver remains one of the cities with the most expensive real estate in the world, it still shares the same attributes as like-priced cities (e.g. Sydney, Hong Kong and San Francisco),” – Porter adds. “Here are some of the city price pairs down the scale: Toronto=New York, Calgary=Washington, and Montreal=Chicago. And none of them actually goes out of line.”