# New Megaproject in Toronto



## greeny (Jan 31, 2011)

Hi everyone,

Do you hear about this new project in Toronto? => http://jamiesarner.com/toronto-real-estate/2011/06/most-expensive-condo-toronto/ 
The most expensive condo will present about $28,000,000 investment. On the face of it seems a very nice project for Toronto. What do you think?


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## Jungle (Feb 17, 2010)

Ahh I read that all over blogs and forums now. Whatever floats your boat..I guess. But really, that is ridiculous.


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## sags (May 15, 2010)

The key words here may be "according to the developer"........


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## calrest (Apr 13, 2011)

It should be a really nice project for Toronto. I assume it might be better if these "megaprojects" don´t flood all of place into the real estate market.


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## Berubeland (Sep 6, 2009)

Toronto has another 17,000 condos coming online this year, the condo market is pretty soft. 

It's a little scary how many skycranes there are bringing more projects online, it makes it hard to get excited about one more


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## Square Root (Jan 30, 2010)

I would think that once interest rates start to rise Toronto condo prices will fall.


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## ddkay (Nov 20, 2010)

17,000 units coming online this year? That sounds like an exceptional lot I wonder if it helps explain the job numbers released this morning.

May 2011:
Largest gainers:
Information, culture and recreation 14,500 (1.86%)
Trade 34,400 (1.30%)

Largest losers:
Manufacturing 22,500 (-1.26%)
Public employees 44,300 (-1.24%)

Unemployment rates in selected cities with previous month in brackets
Edmonton 5.6 (5.7)
Calgary 5.7 (5.9)
Ottawa 5.9 (6.3)
Kitchener 7.3 (6.9)
Vancouver 7.6 (8.4)
Montreal 7.8 (8.0)
Toronto: 8.6 (8.5)

Net unemployment rate: 7.4% (-0.3%)


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## Mark Rose (Jun 14, 2011)

A lot of the expensive housing in Toronto is being bought by foreign speculators, just like Vancouver. They're what's keeping the property bubble alive. I'd definitely hold off on buying right now, as it's far cheaper to rent (when housing is tight and rent is cheap, it's usually a bubble).

Housing is roughly 50% over-valued in Canada's majority cities right now.

http://globaleconomicanalysis.blogspot.com/2010/01/housing-bubble-comparison-us-uk-canada.html


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