Bankers and investment professionals are “streaming back” to Toronto and purchasing homes. They are returning to Toronto because while banks in the United States, Britain and other countries have stepped in doodoo, the Canadian banking industry has been more resilient. This influx of high paid purchasers into the Toronto housing market is a contributing factor to the resurgence of mid to high-priced homes.
Returning Bankers Place Upwards Pressure on Toronto Home Prices…
(Source: The Globe and Mail)
Paul Knight was certain his wife would not go for the house. “I’m not even getting out of the car,” he told their real estate agent as they pulled up in front of a house on a leafy street in Rosedale.
Mr. Knight didn’t have to wait long. “This is the one,” Ann Dugan said as she emerged from a character-filled, 100-year-old house and got back in the car.
Read the full article by Carolyn Ireland “Banking on T.O.” in the Globe and Mail (Sept 12, 2009).