Toronto Real Estate Market: Is Now the Time to Buy?

November 14, 2024

Welcome to the latest episode of Make Money Count! In this episode, Marcus had an insightful conversation with real estate expert Benjamin Ferguson. He shares his views on the current state of Toronto’s real estate market and whether it might be the right time to jump in. Here’s a quick look at what we covered:

Episode Highlights

What’s Happening in Toronto Real Estate?

It’s no secret that Toronto’s condo market has been rough lately, but there may be light at the end of the tunnel. Benjamin believes prices are potentially at their lowest – He explains if this is the ideal time to consider buying.

Big Economic Trends to Watch

Economic factors, such as bond yields, inflation, and potential interest rate cuts, are affecting housing prices. We further explore how these may lead to real estate prices stabilizing or even rising as interest rates continue to fall.

Immigration and Housing Demand

Immigration is also driving Canada’s housing demand. With limited new builds and high construction costs, the housing shortage isn’t going anywhere. Despite some political debate around immigration levels, it’s likely to continue, keeping demand high in cities like Toronto. Is this a long-term positive for the market?

Rent vs. Buy: What Makes Sense?

With high rents across Toronto, the choice to rent or buy is a close call. Marcus and Benjamin discuss how falling interest rates could soon make buying more attractive than renting, opening the door for more people to become homeowners.

There’s a lot more to dig into in this episode! We cover everything from prime mortgage rates to where to find the best value per square foot in Toronto. Don’t miss out on these insights that could help you make better decisions when you start searching for a new home.

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