Danielle was a guest with Jim Goddard on Talk Digital Network, talking about recent developments in the world economy and markets. You can listen to an audio link of the segment here.
Also see, Toronto area buyers are walking away from deposits on new homes–some losing as much as $300,000:
Property values have fallen most for single detached homes in cities between Toronto and Barrie, such as King City and East Gwillimbury, Morris said. During the February 2022 price peak, the average home price in King City was $3.2 million and dropped to $2 million in September 2023 — a decline of almost 40 per cent, according to the Toronto Regional Real Estate Board.
“We’re seeing it happen the most in cities that are an hour or two outside of Toronto, where people paid $1 million for a property and are now getting appraisals of $600,000,” Morris said. “They’d rather face the builders’ wrath and walk away, than close on that transaction.”
;
