Welcome to the jungle of Toronto’s real estate market, where buyers will do just about anything to get a property, despite the price.
I’ve always wanted to address the real estate industry because, at one point, I wanted to work in the industry. However, when I was younger, I didn’t realize how flawed it was. And how unjust the market can be to virgin or veteran home buyers.
The Greater Toronto Area’s notorious bidding wars, bullies and jaw-dropping offers propelled the region’s real estate market to a new high water mark for the first quarter of 2016.
What’s shocking is how much people are willing to pay for a house of their dreams.
In fact, according to The Globe and Mail article:
The average price of a detached house in the GTA hit $910,375 at the end of March.
I doubt many young first-time buyers have a million dollars lying around.
These prices continue to divide the rich from the poor.
Like Cathy Crowe once said
…shelter is also a human right.
But with some homes costing hundreds of thousands of dollars or upwards of a million, this “human right” is becoming further out of reach.