Inside Toronto’s slumping condo market

There’s a record number of Toronto condominiums on the market right now, and despite record immigration, and an ever-worsening housing crisis, nobody seems to want to buy them.

Diana Zlomislic is a housing reporter for The Toronto Star.

“I think what happens with the central bank, whether they continually reduce the lending rate over the next several months heading into the end of the year, that will make a huge difference to buyers coming back, to prices actually increasing,” says Zlomislic.

So how hard is it to offload a condo in one of North America’s hottest property markets? What happened to all of the motivated buyers? And what does the trend say more broadly about the state of Canadian real estate? 

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