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Even Real Estate Developers Can’t Afford Toronto’s Housing Market

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Toronto's housing market too hot

Toronto's housing market is so hot, real estate developers are struggling to afford land. Housing is not affordable enough for buyers to bite. "A convergence of factors -- government rules aimed at reshaping Ontario’s housing market, tougher mortgage guidelines, a shortage of land -- is pushing against the housing bubble in the Toronto area, where new-home prices have risen since 2009." If you're struggling to afford housing in Toronto, maybe it's time to head to Kawartha Lakes! You'll get way more for your money on one of our beautiful waterfront properties.

Even Real Estate Developers Can’t Afford Toronto’s Housing Market

The hottest housing market in the world is facing a reckoning. Toronto-area land prices have gotten so high that developers are struggling to build new homes that people can afford. Buyers are no longer lining up, despite discounts and incentives. The cost of land has nearly tripled in some areas the past five years, according to Altus Group Ltd. It now accounts for roughly half the price of a new home. In 2011, it was a little more than a third. 

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