Quote:
Originally Posted by Frankenrogers
In Toronto home ownership is simply out of reach for a lot of people unless you have half a million dollars so condos make sense but in Hamilton houses are pretty cheap, especially in Corktown/Stinson where this is being talked about.
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Well condo prices in Toronto have skyrocketed, making it insane to spend all that money on a shoe-box with high monthly maintenance fees.
Around 80% of Toronto condo sales are to speculators - which you can even tell when looking at how few lights in these condos are turned on in the evenings. There's a major correction coming in that market soon - it'll get pretty ugly.
As for interest in the Hamilton condo market... I have a hard time figuring it out. Houses are cheaper here (compared to Toronto) but anything half-way decent (which doesn't require major renovations) near the downtown area goes for 400K+ - which is ridiculous for this city.