Walking Up Yonge Street in North York Centre

Walking Up Yonge Street in North York Centre.

As you can see, it's getting a bit of density up here on the northern fringe of the city. Running underneath the street is the Yonge Street Subway line. One of the busiest subway routes in Canada. To the left is North York Civic Centre, and the Toronto Centre for the performing Arts, and to the right is Empress Walk and Sheppard Centre. This area has taken off as far as development in the past 15 years or so. Ever since the beginning of the condo boom, it's been a favorite part of town for developers to set their sights. The 401 is right here, and as I mentioned the Subway is here as well.



The Toronto Condo Boom

 Toronto Condo Living has taken off over the last few years, and the redevelopment in North York Centre, Downtown Toronto, Mississauga and other areas has been nothing short of mind-blowing. Downtown Toronto and North York Centre might not be recognizable just due to the speed of the construction and development. Although there are some that are opposed to increased condo density, we can't discount the benefits many with regards to increased higher use of transit, walking biking and other alternate methods of  transport as opposed to using the car. Toronto just might be a leader, outside of Manhattan (New York City) in this respect. 

Secrets of Toronto's Development Success:

Toronto is a true international city, it has drawn hundreds of thousands of people from all over the world, seeking to make a better life. It's people are industrious and entrepreneurial, which along with some great geographic luck has made Toronto's economy one of the world's most dynamic finance, trading, exporting and manufacturing centers. Over the past 15 years there has been a dramatic shift in the population patterns of the Greater Toronto Area (GTA) as the population begins to concentrate into the downtown core, for reasons ranging from transport without a car, to low condo pricing, for young people. Over the last decade an average of 10,000 new condos per year have been sold in the core, in the past 5 to 7 years this average has been over 15,000 new condos. and in the past 3 years there have been over 20,000 new condo sales per year. There is a flare associated with downtown living in Toronto, that the suburbs can't match. It's attracting more people everyday, and so far, there seems nothing set to change it.  




Getting a Mortgage and Mortgage Insurance through Economical Insurance for financing a loan to purchase at FIVE Condos is actually a relatively easy process, and new rules from the federal government has required that company include new regulations, which have made the home loan and mortgage process a bit more difficult. Those changes at Economical Insurance include shortening the amortization period for which the loan can be held by the consumer, and the degree to which the property is financed by the mortgage. They have also increased deposit requirements to lift the loan insurance amount. Mortgage insurance from Economical Insurance is actually one of the major financing costs on home loans.

Investment Trusts have no taken to looking to purchase rental properties and acquiring mortgages through financing auctions by the banks looking to shore up their balances sheets in light of stricter government regulation. These regulations have actually made holding residential mortgages by the large financial institutions harder to hold. Currently investors are looking to increase their position in rental properties in Toronto, at the same time the federal government in co-operation with the financial institutions are making getting and qualifying for loans and mortgages more difficult

Economical Insurance : What is Condo Insurance?
Condo Insurance is required to protect your personal contents from theft or fire damage in your condo if these unforeseen events should happen you should make sure that you have adequate protection. Some items in your condo are will also be protected by your condo association insurance policy which covers the general building. The events that are covered by condo insurance include Fire, as well as Lighting. Other weather related causes such as Windstorms, and Hail are also covered. The major one that most people worry about is theft which is covered by condo contents insurance policies.

Toronto Condo Market Report – February 26, 2014

Toronto Condo Prices continue to trend upwards, as sales also move up with general improvement not only in the Toronto economy, but the nation as a whole. Condo sale prices have not increased to the same degree as detached family housing, due to new supply coming onstream. However fears of a condo bubble, have not proved accurate, as trends move to the upside. Average Home prices are still up in Toronto, and look like they will continue to rise for the remainder of 2014. Year over year, detached housing prices increased by over 14%. Just amazing.