Yep, that's right.  As if the Toronto real estate market isn't depressing enough, things have gotten worse.  So, sorry for temporarily putting a damper on your Friday.

In comparison to one bedroom condo prices of this time last year, costs have increased about 7.2%, leaving those looking to move out of their parent's house to the big city a whopping price tag of $1777 per month.  Please take this time to pick your jaw up off the floor.

So, if you're now thinking about plan B aka plan "I need a roommate" you might want to think again.  With rates shooting up a 2 bedroom condo will cost you around $2,219 (8% more than it would have in 2015).

I have my fingers crossed that you all receive raises and promotions because it looks like a little extra cash might be more necessary than we thought.  Good Luck Toronto, hears to hoping we all won't be stuck in our parent's basements!

Source: The Toronto Real Estate Board 

Comments are now closed.
Account Settings
Notifications
Favourites
Share Feedback
Log Out

Register this device to receive push notifications